The Bank of Ghana (BoG) has maintained its Monetary Policy Rate (MPR) at 29 per cent.

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This comes as the International Monetary Fund (IMF) warned Central Banks to be careful when cutting interest rates as looser monetary policy could push inflation up further.

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At its 117th monetary policy announcement on Monday, March 25, 2024, the Governor of the Bank of Ghana, Dr.

“Banks’ liquidity and profitability positions have continued to improve

Out of the total of 23 banks, more than half have fully capitalized and have no need for recapitalization.

He added, “Most of the outstanding banks have met more than two-thirds of the required capitalization over a three-year period within one year as of the end of 2023

Fiscal policy implementation so far has been consistent with targets under the IMF support programme.