CBL Executive Governor, J. Aloysius Tarlue announced the maintenance of the monetary policy rate at 30 percent is in response to the global economic uncertainties, especially the Coronavirus, which is threatening the global economy. MONROVIA – The Board of Governors of the Central Bank of Liberia (CBL), during its March 2020 meeting, has announced its decision to maintain the monetary policy rate of 30 percent. This comes nearly four months after the CBL Board had set a monetary policy rate of 30 percent, after transitioning from an exchange-rate-targeting monetary policy framework to an interest-rate based regime. However, he added that global economic growth rebounded in the second half of 2019 and that trend is projected to continue throughout 2020 and yield a 3.3 percent growth in global economic activity. In the wake of depressed global economic activity, Real GDP growth for Liberia was estimated to contract by 1.4 percent due to underperformance in manufacturing, services and the forestry subsectors.

Source: Front Page Africa March 04, 2020 03:11 UTC