Bank of Ghana slashes further 100bp from policy rate

Action follows similar move in 2018, as inflation declines into the target range

Bank of Ghana
The Bank of Ghana
Natsubee

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

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