Home NewsLiberia Central Bank retains 20% Monetary Policy Rate

Central Bank retains 20% Monetary Policy Rate

by Maximilian K. Kasseh jr

MONROVIA, LIBERIA-The Central Bank of Liberia (CBL) is retaining the Monetary Policy Rate at twenty- percent.

The CBL has also maintained the existing monetary policy measures of Reserve Requirement at twenty-five percent for Liberian Dollars and ten-percent for United States Dollars.

The measures were agreed upon by the Board of Governors at its fourth quarterly Monetary Policy Committee meeting, last month.

The Committee’s decision was largely influenced by the current inflation rate of single digit and inflation expectation.

The release said that the projection for Gross Domestic Product growth for 2021 remains unchanged at three-point-six percent, reflecting a positive outlook in the mining, agriculture and forestry sub-sectors.

Meanwhile, the CBL says the service sub-sector is now on course for recovery, following constraints posed by COVID-19.

By: Sampson David

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