BoG cuts policy rate from 29% to 27%
Business
Governor of the Bank of Ghana (BoG), Dr Ernest Addison
The policy rate is now 27 per cent.
It is the benchmark rate at which the Bank of Ghana (BoG) lends to commercial banks.
The rate was cut by 200 basis points following the central bank's Monetary Policy Committee (MPC) meeting.
The new rate was announced by BoG Governor Ernest Addison on Friday, 27 September 2024.
The rate was at 29 per cent until the recent cut.
In January 2024, the rate was cut from 30 to 29 per cent.
Dr Addison announced to the press that the rate of inflation for August 2024 declined to 20.4%.
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