The Monetary Policy Committee of the Bank of Ghana has cut the policy rate by 150 basis points to 14.0 percent.

‎ The decision was announced by the Chairman of the Committee, Governor Dr Johnson Asiama. In his remarks he stated,‎ "In taking the policy decision, the Committee noted continued improvements in domestic macroeconomic conditions during the first two months of the year", Dr Asiama explained, adding that, "However, rising geopolitical tensions in the Middle East have deepened uncertainty in the external sector.” 

‎The Governor further stressed that "the Bank’s latest forecast suggested that headline inflation will remain within the medium-term target.” 

‎“ Upside risks to the inflation outlook include the likely pass-through of higher crude oil prices and escalating geopolitical tensions. "

‎In the view of the Committee, despite these upside risks to the inflation profile, the favourable domestic macroeconomic conditions and high prevailing real interest rates provide scope to ease the policy rate further.” 

‎The Bank remains committed to price stability while supporting economic recovery. 

‎Sompaonline.com/Akua Nyarko Abronoma