Ghana’s central bank cut its main interest rate by 250 basis points (bps) to 15.50% in a decision announced this Wednesday, exceeding most economists’ expectations.
Most economists surveyed by Reuters had expected the central bank to lower the rate by 200 bps to 16% after a big 300 bps cut in July and record 350 bps cuts in September and in November.
“Based on the foregoing considerations, the Monetary Policy Committee by a majority decision, voted to lower the monetary policy rate by 250 bps to 15.5%,” Bank of Ghana Governor Johnson Asiama told a news conference.
“The committee will continue to monitor developments closely and take appropriate policy actions to ensure that the gains from macroeconomic stability are translated into sustainable growth.”
–Reuters–
