MONROVIA, LIBERIA-The Central Bank of Liberia (CBL) says it is taking crucial steps to control inflation to support economic growth.

THE CBL Governor, Henry Saamoi, says the Bank has maintained its key policy rate of sixteen-point two five percent, but is expected to increase slightly due to higher global oil prices and rising costs of basic commodities.

Despite these pressures, the Governor says the economy remains strong, with growth projected at five-point one percent.

Governor Saamoi added that measures are being put in place to strengthen the Financial Sector and ensure continued support for businesses.