Bank of Ghana starts to unwind tight monetary policy
The Bank of Ghana has begun to unwind its tight monetary policy stance, cutting interest rates by 200 basis points – the largest reduction in seven years.
In a statement released on March 27, the central bank announced interest rates had been reduced to 23.5%, noting underlying inflation pressures had “eased considerably”. Coupled with low growth – “significantly below potential” – the central bank’s monetary policy committee deemed there was “some scope” to ease monetary policy.
Economic
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