加纳央行猛烈降息350个基点

Core Viewpoint - The Bank of Ghana has cut its key interest rate by 350 basis points to 18%, marking the third consecutive reduction, amid expectations of continued inflation decline [1]. Group 1: Monetary Policy Changes - The Bank of Ghana's Monetary Policy Committee decided to lower the key interest rate to 18% due to high real interest rates, providing room for further monetary easing to stimulate economic recovery [1]. - The central bank will now use 14-day treasury bills to manage market liquidity [3]. - The Bank of Ghana has cumulatively reduced the policy rate by 1000 basis points by 2025, indicating one of the most significant easing cycles in recent years [5]. Group 2: Inflation and Economic Outlook - Ghana's inflation rate, which peaked above 54% in December 2022, has gradually decreased, reaching 8% last month, the lowest in over four years, and is expected to remain stable within the central bank's target range of 6% to 10% until mid-2026 [1][2]. - The government forecasts an economic growth rate of approximately 4% this year, with expectations to reach at least 4.8% by 2026, while inflation is projected to remain around 8% by the end of next year [2]. Group 3: Market Reactions and Future Expectations - Analysts predict that the interest rate cut will gradually lower loan rates, providing relief to businesses and households facing high borrowing costs [4]. - The central bank's optimistic signals suggest potential for further significant rate cuts, with market expectations indicating at least another 500 basis points reduction by 2026, exceeding current market forecasts [5].