The Acting Bank Governor of the Bank of Sierra Leone, Dr. Ibrahim L. Stevens, issued a Monetary Policy statement on 6th July 2023, following a meeting with various committee stakeholders. Dr. Stevens chaired the meeting, during which the Committee assessed recent macroeconomic and financial developments on both the global and domestic fronts, and analyzed their implications for domestic inflation and growth.
According to the statement, after thorough deliberations, the Monetary Policy Committee (MPC) has decided to raise the Monetary Policy Rate by 0.50 percentage points, bringing it to 19.25 percent. This decision reflects the Committee's evaluation of the current economic conditions and its determination to address relevant monetary policy concerns.
Furthermore, the statement summarizes the assessment and primary considerations that influenced the Committee's decision regarding the monetary policy stance.
Provided below is the complete statement from the Central Bank of Sierra Leone.
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