Ghana’s inflation rate dropped to 9.4% in September, the lowest level in over four years, according to figures released by the Ghana Statistical Service.
The decline prompted the Bank of Ghana to slash its benchmark policy rate by 350 basis points to 21.5%, marking one of the sharpest cuts in recent years. Central bank officials say the move is aimed at boosting economic activity by reducing the cost of borrowing.
Economists, however, remain cautious. While businesses may benefit from lower interest rates, risks associated with global oil price fluctuations and exchange rate volatility could still pose challenges for price stability in the coming months.
