Finance Minister Dr. Cassiel Ato Forson has described the Bank of Ghana’s decision to slash the monetary policy rate to 18% as a major step forward in the country’s economic rebound.
The revised rate — now at its lowest since March 2022 — forms part of the central bank’s ongoing monetary easing programme. According to Dr. Forson, the reduction reflects improving macroeconomic stability, supported by a consistent fall in inflation.
Inflation dropped to 8% in October, a sharp decline from 27% recorded in November 2024, which the minister believes provides a solid foundation for lower borrowing costs and increased business confidence.
In a post on X, Dr. Forson highlighted that the adjustment represents a 350-basis point cut, expected to ease credit pressures and stimulate lending across the economy.
> “The move reflects renewed economic confidence. It means lower borrowing costs, better access to credit, and more space for businesses and individuals to grow, invest and create jobs,” he wrote.
He added that the policy shift demonstrates stronger momentum toward full recovery, creating a more supportive environment for investment, expansion, and job creation.
Dr. Forson concluded with optimism:
“The recovery is clearly strengthening, and it can only get better.”
