Bank Of Ghana’s Monetary Policy For March. Details Here

The Central Bank Of Ghana has released its monetary policy report for March 2022, with the report highlighting the economic and financial sector assessments that the Monetary Policy Committee considered prior to the policy decision during the 105the meeting held in March 2022.

The primary objective of the Bank of Ghana is to pursue sound monetary policies aimed at price stability and creating an enabling environment for sustainable economic growth.

Price stability in this context is defined as a medium-term inflation target of 8±2 percent. This implies that headline inflation should be aligned within the medium-term target
band for the economy to grow at its full potential without excessive inflation pressures.

Other tasks for the Bank of Ghana include promoting and maintaining a sound financial sector with efficient payment systems through effective regulation and supervision. This is important for intermediation since risks associated with financial markets are
taken into account in monetary policy formulation.

Meanwhile, the Russia-Ukraine war has heightened uncertainty in the global outlook, aggravated the COVID-related supply bottlenecks, triggered higher crude oil prices, and elevated inflation expectations, compounding the already high global inflationary pressures.

“Destination Ghana” Will Be An Attraction To The World

Global financing conditions have tightened as key central banks raised policy rates to counter rising inflation. The combined effects of these developments could lead to further downgrades in global growth projections, increase investors uncertainty, and lead to capital outflows from emerging and frontier economies with weak fundamentals.

For all the details about the Bank of Ghana’s Monetary Policy for March 2022, find attached the file.

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