Finance Minister Dr Cassiel Ato Forson says the latest cut in the Bank of Ghana’s policy rate shows clear confidence in the country’s economic rebound.
The Central Bank on Monday reduced the Monetary Policy Rate to 18 percent, the lowest in more than three years. The decision follows continued stability in the economy and a sharp drop in inflation to 8 percent in October, from 27 percent in November 2024.
Responding to the announcement, Dr Forson described the 350-basis-point cut as one of the most significant reductions in recent times. He said the move should help ease borrowing costs and give businesses and consumers better access to credit.
He believes improved lending conditions will support investment, business expansion, and job creation.
“The recovery is clearly strengthening, and it can only get better,” he stated, pointing to ongoing improvements in inflation and financial conditions.
Dr Forson said government will continue working to maintain stability and reinforce the momentum toward full economic recovery.
