Ghana’s Finance Minister has welcomed the Bank of Ghana’s latest monetary policy decision, describing it as a clear confirmation that the economy is firmly back on a path of stability and growth.
According to the Minister, the central bank’s decision to cut the policy rate to 18 percent, its sharpest reduction in recent years, reflects confidence in the country’s improving macroeconomic fundamentals. Inflation has now fallen to 8 percent in October, a dramatic turnaround from the 27 percent recorded in November 2024.
“This progress is not accidental,” the Minister wrote on X. “It is the result of disciplined fiscal management, structural reforms, and the resilience of Ghanaian businesses and consumers. The reduction in inflation and the corresponding policy rate cut show that our recovery is not only real but accelerating.”
He explained that the 350-basis-point cut will ease borrowing costs across the economy, allowing banks to extend more affordable credit to the private sector. This, he said, will empower entrepreneurs, strengthen industries, and create new opportunities for jobs and investment.
“With this move,” the Minister added, “we expect businesses to expand, households to breathe easier, and economic activity to continue rising. The recovery is strengthening, and it can only get better from here.”
The Finance Ministry says it remains committed to maintaining stability and ensuring that the gains being recorded translate into long-term economic transformation for Ghanaians.
