The Bank of Ghana has convened an emergency meeting of its Monetary Policy Committee (MPC) to review recent economic developments, the central bank announced in a statement on Thursday.
Originally scheduled to begin on July 28, the fourth MPC meeting of the year was brought forward in response to what the Bank described as “emerging pressures” in the domestic and global economy. The final decision on the policy rate, initially expected on July 30, could now be announced earlier than planned.
While the central bank did not disclose specific triggers for the emergency session, analysts point to rising inflationary risks, currency pressures, and evolving global market conditions as possible factors behind the urgent move.
The MPC, which meets quarterly to review macroeconomic indicators and set the policy rate, plays a critical role in maintaining price stability and guiding economic expectations. The current policy rate stands at 29 percent, having remained unchanged at the last meeting in May.
Market watchers will be closely monitoring the outcome of the meeting, as any adjustment to the benchmark rate could have far-reaching effects on borrowing costs, investor confidence, and overall economic outlook.
The Bank of Ghana is expected to issue a statement following the conclusion of the emergency meeting to communicate its decision and outline the rationale behind it.
