Finance Minister Dr. Cassiel Ato Forson has described the Bank of Ghana’s latest policy rate cut as a crucial step in strengthening Ghana’s economic recovery.
The central bank on Monday reduced the benchmark rate to 18 percent, its lowest level since March 2022.
According to Dr. Forson, the decision reflects growing macroeconomic stability, underpinned by a sustained fall in inflation.
Consumer inflation dropped to 8 percent in October, a sharp decline from 27 percent recorded in November 2024.
In a post on X, the Finance Minister noted that the 350-basis-point cut is expected to boost economic activity by easing borrowing conditions.
“The Bank of Ghana’s monetary policy easing continues. This substantial reduction means lower borrowing costs, improved access to credit, and greater room for businesses and households to grow, invest, and create jobs,” he said.
Dr. Forson added that the rate cut signals renewed confidence in the economy and will help accelerate recovery efforts by creating a more supportive environment for investment and job creation.
He ended on a positive note, stating “The recovery is clearly strengthening, and it can only get better.”
Source: www.kumasimail.com
