The Bank of Ghana has cut its policy rate for commercial banks by 200 basis points, reducing it from 29% to 27%.
In a press briefing, Governor Dr. Ernest Addison noted that macroeconomic conditions have shown significant improvement.
He highlighted a decline in headline inflation and signs of economic growth, despite the ongoing tight monetary policies aimed at controlling inflation.
According to the Monetary Policy Committee’s latest forecast, inflation is projected to continue easing, with the target range set between 13% and 17% by the end of the year. The committee views the inflation outlook as balanced, prompting the decision to lower the policy rate to 27%.
source: www.kumasimail.com
