Bank of Ghana starts to unwind tight monetary policy

Bank of Ghana cuts interest rates by biggest margin since 2010

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.


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