MONROVIA, LIBERIA-The Central Bank of Liberia (CBL) says it has reduced inflation in the Liberian Economy.
The CBL said the reduction in inflation is due to a drastic reduction in the Monetary Policy Rate of the Bank by twenty-five percent.
CBL Assistant Director of Research Ragie Adnan, made the disclosure Wednesday, June 17, 2020, in an ELBC interview.
Mr. Adnan said:” The decision to reduce the Bank’s Monetary Policy rate is based on prevailing global and National Economic conditions.”
According to him, the Board of Governors at the CBL unanimously approved a reduction in the monetary policy rate to promote the Bank’s Bill and electronic payment systems.
He said:” The CBL is also working in concert with Commercial Banks to ensure the new Monetary Policy Rate stimulates Economic growth.”