Bank of Ghana makes higher-than-expected rate cut
Central bank strikes bullish tone over prospects for economic growth and reduction in inflation
The Bank of Ghana has cut its policy rate by 350 basis points to 21.5%.
In a statement, the central bank said a majority of the members on its monetary policy committee had reached the decision because of a range of macroeconomic conditions.
It said headline inflation had fallen from 12.1% in July to 11.5% in August and was projected to continue falling to within the bank’s medium range target of 8%, plus or minus two percentage points, by the end of the year.
The bank said global growth had
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