Ghana’s central bank has lowered its benchmark policy rate by 300 basis points to 25%, exceeding expectations, as consumer inflation shows signs of continued decline in the gold and cocoa-producing economy.
The move was announced by Governor Johnson Asiama, who stated that macroeconomic conditions have significantly improved, inflation expectations are anchored, and confidence in the economy is returning.
The bank had been widely anticipated to reduce the rate by 200 basis points to 26%, according to a Reuters poll of analysts.
Last month, consumer inflation dropped to 13.7% from 18.4% in May, reaching the lowest level since December 2021.
