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Bank of Ghana cuts monetary policy rate by 200 basis points to 27%

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The Bank of Ghana (BoG) has announced a 200-basis-point reduction in its Monetary Policy Rate, lowering it to 27%. This marks the second rate cut since 2021, aimed at providing relief to borrowers and reflecting the easing of inflationary pressures. Previously, the policy rate was held at 29% for nine months, following a reduction from 30% in January. The new rate is expected to offer borrowers some relief, at least for the next two months. During the 120th Monetary Policy Committee press briefing on Friday, September 27, BoG Governor Dr. Ernest Addison explained that the rate cut is in response...
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