Finance Minister Dr. Cassiel Ato Forson commended the Bank of Ghana’s recent monetary policy announcement, describing it as a critical measure in Ghana’s economic recovery. The central bank’s decision to reduce the policy rate to 18 percent marks the lowest level since March 2022.
Dr. Forson stated that this development reflects growing economic stability and a sustained decline in inflation.
He emphasized that “the Bank of Ghana’s monetary policy easing is ongoing,” pointing out the steady decline in inflation, which is currently at 8 percent as of October, a significant drop from 27 percent in November 2024.
In a message posted on X, the Finance Minister elaborated that the new policy rate represents a notable 350-basis-point reduction, which he believes will encourage lending and alleviate credit pressures on both businesses and households.
“This action demonstrates renewed economic confidence, resulting in lower borrowing costs, enhanced access to credit, and greater opportunities for businesses and individuals to expand, invest, and generate employment,” he remarked.
Dr. Forson further noted that this policy adjustment signifies a stronger momentum in recovery and a more conducive financial environment for growth, investment, and job creation.
In conclusion, he expressed optimism by stating: “The recovery is evidently gaining strength, and it is bound to improve further!”
