The Monetary Policy Committee of the Bank of Ghana has announced a substantial 100 basis points reduction in Ghana’s benchmark interest rate, shifting it from 30% to 29%. This unprecedented move not only breaks the rate freeze that has persisted since September 2023 but also stands as the first rate cut in Ghana since 2021, setting a unique precedent in the African financial realm for 2024.

The rate adjustment follows a significant dip in Ghana’s inflation, dropping to 23.2% in December 2023 from 26.2% in the previous month—a remarkable decline to levels not witnessed since April 2022.

Ernest Addison, the Governor of the Bank of Ghana, addressed.......

https://ratecaptain.com/ghanas-central-bank-initiates-historic-interest-rate-cut-to-29/