BoG drops policy rate from 28 to 25% [VIDEO]

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has reduced the policy rate by 300 basis points from 28 to 25 per cent.

The move is aimed at reinforcing Ghana’s recent economic stability and supporting a broader recovery, after the committee reached the decision to reduce the rate unanimously in response to the recent improvements in the macro economic indicators.

The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, who announced the decision during the 125th MPC press conference in Accra on Tuesday, July 30 explained that the outlook for inflation has improved significantly over recent

months, due to tight monetary conditions and coordinated fiscal efforts.

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