Bank of Ghana slashes rates by 250bp
Institution says fiscal consolidation and plummeting inflation justified additional easing
The Bank of Ghana has cut rates by 250 basis points to 15.5%, citing improvements last year in the public finances and the broader economic outlook.
In a statement on January 28, the bank’s monetary policy committee said headline inflation had fallen from 23.8% in December 2024 to 5.4% a year later – a result, it said, of tight monetary policy, fiscal consolidation and the appreciation of the currency, the cedi.
The bank tightened policy significantly in the aftermath of the Covid-19 pandemic
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