Monrovia — The Board of Governors of the Central Bank of Liberia (CBL), during its 19 August 2020 sitting on Monetary Policy's decision, agreed to retain the monetary policy rate of 25.0% based on projected headline inflation of approximately 17.0% for quarter three of 2020. Price indices of energy and non-energy commodities in low- and middle-income countries fell in quarter two.
The announcement to maintain the current monetary policy rate is partly predicated on the evolving global economic dynamics, which has transmitted adverse effects to domestic economic developments. In May this year, the Central Bank lowered its monetary policy rate from 30.0% to 25.0%.
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