Ghana Cuts Rates by Most on Record, Signals More to Come

Ghana’s central bank lowered its key interest rate by the most on record after the pace of inflation significantly slowed in the West African nation, and signaled it would continue to ease if the disinflation trend continues.

The monetary policy committee voted by a majority decision to cut rates to 25% from 28%, Governor Johnson Asiama told reporters on Wednesday in the capital, Accra. That matched the median estimate of nine economists in a Bloomberg survey. This is the second MPC meeting this month. An emergency gathering called almost two weeks ago opted to delay publicizing any policy decision until this one was held.