Bank of Ghana cuts policy rate from 29% to 27%

The Bank of Ghana has cut the monetary policy rate by 200 basis points, from 29 percent to 27 percent.

The Chairman of the MPC and BoG Governor, Dr. Ernest Addison, stated that the decision is attributed to the relative stability of the cedi, inflation trending downwards towards a more balanced position, robust fiscal policy implementation, and improved macroeconomic conditions.

He also noted a significant improvement in the reserves of the Central Bank of Ghana.

Dr. Addison made this known during a press briefing on Friday, September 27, 2024 to mark the 120th Monetary Policy Committee meeting.

MA