The Monetary Policy Committee (MPC) of the Central Bank has maintained the policy rate at 16 per cent.This is the fourth time it’s been pegged at 16%.

According to the central bank, the global outlook looks positive while on the domestic front, growth is expected to be resilient and robust.

Addressing the media, on Friday, September 20, 2019, the Governor of the Central Bank, Dr Ernest Addison, indicated that holding the policy rate at 16 per cent has become necessary due to the strong economic performance over the period although revenue mobilisation remains a challenge.

This development is expected to have little impact on the cost of credit reducing significantly.

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