Policy rate could go down further – Addison

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

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

Asked how soon the 17 per cent rates could be cut, he added: “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 would look to push local money market traders to use electronic trading platforms more rather than do deals over the phone. He said it was a measure that could help slow the recent fall in the country’s currency.