The Governor of the Bank of Sierra Leone, Dr. Ibrahim L. Stevens, has reaffirmed that the Central Bank’s monetary policy direction will remain firmly data-driven, balancing the need to control inflation and protect the value of the Leone while at the same time supporting investment and economic growth.
Governor Stevens made the statement today during his monetary policy briefing in Freetown, as he presented the latest assessment of the economy.
According to the Governor, the Bank is closely monitoring domestic and global economic indicators and will continue to make policy decisions based on hard data, not sentiments. He stressed that the Bank’s twin mandate of price stability and financial stability remains non-negotiable.
“The Bank’s monetary policy stance will continue to be data-driven, carefully balancing inflation control and the protection of the Leone while creating space to support investment and growth,” Governor Stevens stated.
He noted that while inflationary pressures and exchange rate volatility remain concerns, the Bank is committed to policies that will anchor expectations, build market confidence and encourage productive lending to the private sector.
The Governor, however, announced that no new policy rate decision was taken at this sitting, indicating that the Monetary Policy Committee has decided to hold and continue observing economic trends before making its next move.
Financial analysts say the Governor’s position signals a cautious but pragmatic approach, aimed at avoiding shocks to the economy while ensuring macroeconomic stability.
The announcement comes at a time when businesses and consumers are looking to the Central Bank for direction on interest rates, cost of living and the stability of the national currency.
Further details on the monetary policy assessment are expected to be published in the Bank’s official Monetary Policy Statement.