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BoG's Monetary Policy Committee cuts policy rate to 20 percent

Nov. 27, 2017, 2:30 p.m.

The Monetary Policy Committee of the Bank of Ghana (BoG) has cut the policy rate by 100 basis points to 20 percent from 21 percent.

According to the Governor of the Central Bank, Dr Ernest Addison, the reduction was influenced by what he describes as a favourable economic outlook and threats to inflation reducing as well.

This is the first time since September 2014 that the policy rate has hit the 20 percent mark and also the first time since January 2017 that the BoG has dropped the rate by 100 basis points.