Finance Minister Dr. Cassiel Ato Baah Forson has hailed the Bank of Ghana’s latest monetary policy announcement as a significant milestone in Ghana’s economic recovery. This follows the central bank’s decision to cut the policy rate to 18 percent — the lowest level since March 2022.
Dr. Forson said the development signals growing economic stability and a steady decline in inflation.
He noted that “the Bank of Ghana’s monetary policy easing continues,” highlighting the consistent drop in inflation, which now stands at 8 percent as of October, down sharply from 27 percent in November 2024.
In a post on X, the Finance Minister explained that the new policy rate amounts to a substantial 350-basis point reduction, which he believes will stimulate lending and reduce credit burdens on businesses and households.
“The move reflects renewed economic confidence, and it means lower borrowing costs, improved access to credit, and greater room for businesses and individuals to grow, invest, and create jobs,” he said.
Dr. Forson added that the policy shift points to stronger recovery momentum and a more supportive financial environment for growth, investment, and job creation.
Concluding on an optimistic note, he remarked: “The recovery is clearly strengthening, and it can only get better!”
The Bank of Ghana’s monetary policy easing continues.
With inflation now down to 8 percent in October, the central bank has taken another bold step by reducing the policy rate to 18 percent, a deep cut of 350 basis points.
This marks a drastic fall from the 27 percent recorded…
