By Toma Imirhe The Bank of Ghana’s Monetary Policy Committee (MPC) has retained the Monetary Policy Rate (MPR) at 14%, extending its pause in the monetary easing cycle as it weighs renewed inflationary pressures against resilient economic growth – but bank treasurers are anticipating marginal falls in both lending and deposit rates over the next fortnight despite the MPC’s decision last week. The unanimous decision, announced by central bank Governor and MPC Chairman Dr. Johnson Pandit Asiama on September 24 after the Committee’s 132nd meeting, represents the third consecutive MPC meeting at which the policy rate has been held at 14%. The Committee said the balance of risks to inflation and economic growth was “broadly balanced.” The decision comes despite inflation remaining substantially below the Bank’s medium-term target range of 8% ±2 percentage points (this being a range of between 6% and 10%). Headline inflation increased from 4.6% in July to 5% in August, but the MPC said ...
Educational Scholarships, Bicycles And Electric Family Car: Milo Unveils “MILO Energy To Start” Promo Reward
Nestlé Ghana is putting families and children at the centre of its latest consumer promotion, with educational scholarships, bicycles and an electric family car among the prizes available under the new “MILO Energy To Start” campaign. The nationwide promotion, launched at Nestlé Ghana’s head office in Dzorwulu, Accra, is expected to reach more than 2 million consumers and families and offers prizes valued at more than GH₵5 million. The campaign reflects MILO’s longstanding association with children, learning, activity and family life, according to Nestlé Ghana. Launching the promotion, Category Manager for Beverages and Dairy, Nestlé MILO, Myron Otoo, said the initiative was inspired by the loyalty of Ghanaian consumers. For generations, MILO has helped fuel Ghanaian families with energy to learn, play and take on each day like true champions,” Otoo said. He described the promotion as one of the brand’s biggest consumer campaigns and said it was intended to give back to families t...