Feb 04, 2013 at 4:22pm

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will hold its first meeting for this year next Monday.

The meeting which will be the 54th will review developments in the economy.

The meeting will be concluded with a press conference on February 13th 2013 to announce the decision of the Committee on the appropriate positioning of the Bank’s policy rate.

The BoG’s current policy rate stands at 15% and the rate is one of the major determinants of interest rates.

However some business associations have raised doubts over the benefits of the Bank of Ghana's monetary policy, arguing that it has rather impacted negatively on lending rates.

According to AGI, its findings revealed that the monetary policy or prime rate has not improved lending to consumers.

Results from its latest Business Barometer Survey for the last quarter of last year indicate that difficulty in accessing credit is still the topmost obstacle restricting growth of businesses in the country.


By: Vivian Kai Mensah/citifmonline.com/Ghana