BoG could cut interest rates by March - Dr. Addison

Ghana could cut interest rates early next year if inflation continues to drift lower, the central bank Governor said on Tuesday.

“I can easily see the policy rate going further down,” Ernest Addison told Reuters on the sidelines of a banking conference.

Asked how soon the 17 percent rate could be cut, he replied: “Our next meeting is in January and after that we have another meeting in March, so in between now and March”.

Addison also said the central bank will look to push local money market traders to use electronic trading platforms more, rather than do deals over the phone.

He said it is a measure that could help slow the recent falls in the country’s currency value.