The Ghana Union of Traders Associations (GUTA) has welcomed the Bank of Ghana’s decision to reduce the policy rate to 15.5 per cent, describing it as a strong signal of confidence in the country’s economic stability.

Speaking in an interview with 3 Business on January 29, 2026, Head of GUTA’s Business and Economic Bureau, Charles Kusi Appiah Kubi, called on commercial banks to align their lending rates with the central bank’s latest move to ease the financial burden on businesses.

According to Mr Appiah Kubi, while the policy rate cut is a positive step, its full benefits will only be realised if commercial banks respond by lowering interest rates on loans.

He explained that translating the reduced policy rate into more affordable credit is crucial for businesses to experience real relief and improved operating conditions.

Mr Appiah Kubi added that access to cheaper credit would help traders and businesses expand their operations, improve productivity, and create employment opportunities, particularly for the country’s growing youth population.

He stressed that effective collaboration between monetary authorities and commercial banks is essential to ensure that the policy intervention delivers tangible economic benefits.