BoG’s 18% Policy Rate Signals Economic Turning Point – Ato Forson
Finance Minister Forson hails BoG rate cut as a boost for lending, investment, and Ghana’s economic rebound
- BoG cuts policy rate to 18%, the lowest since March 2022
- Inflation drops sharply to 8%, signaling growing economic stability
- Rate cut expected to ease borrowing costs, boost credit access, and support investment
Finance Minister Dr. Cassiel Ato Forson has welcomed the Bank of Ghana’s decision to cut the policy rate to 18 percent, calling it a pivotal moment in Ghana’s economic recovery. This marks the lowest rate since March 2022 and reflects growing stability in the economy.
Dr. Forson highlighted that the move signals a steady decline in inflation, which fell to 8 percent in October, down sharply from 27 percent in November 2024. He described the 350-basis point reduction as a significant step that will stimulate lending, ease credit burdens on businesses and households, and boost economic confidence.
In a post on X, the Finance Minister explained that the lower rate will reduce borrowing costs, improve access to credit, and provide more opportunities for businesses and individuals to grow, invest, and create jobs. He added that the policy shift underscores stronger recovery momentum and a more supportive financial environment for growth and investment.
Concluding on an optimistic note, Dr. Forson said: “The recovery is clearly strengthening, and it can only get better!”
