The Minister of Finance, Dr. Cassiel Ato Forson, has welcomed the Bank of Ghana’s latest monetary policy decision, describing the reduction of the policy rate to 18 percent — the lowest since March 2022 — as a significant milestone in the country’s economic rebound.

Commenting on the announcement, Dr. Forson said the move underscores the growing stability of the economy and the steady decline in inflation. He highlighted that the central bank’s decision marks a continuation of its monetary policy easing cycle, supported by strong disinflation trends. Inflation has fallen to 8 percent as of October, down sharply from a high of 27 percent in November 2024.

According to the minister, the new rate reflects a substantial 350-basis-point cut that is expected to stimulate lending, reduce borrowing costs, and ease credit constraints for businesses and households.

“This marks a drastic fall from the 27 percent recorded in November 2024. The move reflects renewed economic confidence, and it means lower borrowing costs, improved access to credit, and greater room for businesses and individuals to grow, invest, and create jobs,” he said.

Dr. Forson added that the shift in policy signals strengthening recovery momentum and a more supportive financial environment for investment and job creation.

Ending on an optimistic note, he reaffirmed: “The recovery is clearly strengthening, and it can only get better!”