Bank of Ghana to hold emergency meeting on Wednesday to review economic development

The Monetary Police Committee of the Bank of Ghana(BoG) is expected to hold an emergency meeting on Wednesday to review recent development in the economy, an official statement has said.

The meeting is coming on the back of the recent hike in inflation from 29.8% to 31.7%

Some analysts had earlier called on the Central Bank to hold an emergency meeting following the development.

Wednesday’s meeting will among others also focus on the depreciation of the cedis which depreciated by 30 percent alone in July.

A statement issued by the Bank of Ghana on Monday(15 August ) said the emergency meeting will ” conclude with an announcement of the decision of the Committee.

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) on Monday (25 July) maintained the policy rate at 19% amid increases in oil and food prices.