The Bank of Ghana has cut the main policy rate from 18 to 16 per cent, hoping banks will reduce their rates too, helping to restore credit growth to the economy.
The bank is keen to push falling inflation down further. Annual inflation stood at 18 per cent in October, falling each month to 16.9, 15.9 and 14.8 per cent in January. The target range is 7.5 – 11.5 per cent. Read more