Finance Minister Dr. Cassiel Ato Forson has welcomed the Bank of Ghana’s decision to lower the policy rate to 18%, marking the lowest level since March 2022. The move is being hailed as a key step in Ghana’s ongoing economic recovery.
Dr. Forson said the rate cut reflects growing economic stability and falling inflation, which dropped sharply to 8% in October from 27% in November 2024. “This represents a 350-basis-point reduction and will ease borrowing costs for businesses and households,” he noted, adding that it will improve access to credit, encourage investment, and create jobs.
The minister described the policy shift as a signal of renewed confidence in the economy. “Lower borrowing costs and improved credit availability create the space for growth, investment, and job creation. The recovery is clearly strengthening, and it can only get better,” he said.
Economists say the decision is likely to stimulate private-sector activity, support production, and deepen overall economic engagement as credit becomes more affordable across industries.
With inflation now in single digits and monetary conditions easing, Ghana is poised to enter a new phase of economic acceleration, providing opportunities for businesses and individuals alike.
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