The Bank of Ghana has cut a further 100 basis points from its policy rate, adding to a lengthy easing cycle that began in 2016.
The monetary policy committee chose to cut rates to 16%, adding to two reductions made in 2018 and several more over the preceding years. The policy rate has come down from 26% in 2016.
The decision reflects the improving inflation outlook in Ghana. Inflation was 15.4% at the end of 2016, but it has subsided to reach 9.4% at the end of 2018, within the target band of