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The Monetary Policy Committee (MPC) of Bank of Ghana on 15th May, 2020 announced an unchanged monetary policy rate of 14
Posted: Sat Mar 19, 2022 5:49 pm
by answerhappygod
- The Monetary Policy Committee Mpc Of Bank Of Ghana On 15th May 2020 Announced An Unchanged Monetary Policy Rate Of 14 1 (23.43 KiB) Viewed 45 times
The Monetary Policy Committee (MPC) of Bank of Ghana on 15th May, 2020 announced an unchanged monetary policy rate of 14.5 percent due to the Covid-19 crisis the lowest rate since May, 2012. This monetary policy rate of 14.5 percent serves as a reference cap or benchmark for Commercial Banks in Ghana in pricing their products. Required: Explain five (5) effects of the monetary policy rate of 14.5 percent on businesses in Ghana under this Covid-19 period. [10 marks]