Core Viewpoint - The Bank of Ghana has lowered its key interest rate for the third consecutive time, reducing it by 350 basis points to 18%, amid expectations of continued inflation decline [1] Economic Outlook - The government forecasts an economic growth rate of approximately 4% for this year, with expectations to reach at least 4.8% by 2026 [2] - Inflation is projected to remain around 8% by the end of next year [2] Monetary Policy Changes - The Bank of Ghana will now use 14-day treasury bills to manage market liquidity [3] - Analysts expect this decision to gradually lower loan interest rates, providing relief to businesses and households facing high borrowing costs [4] Inflation and Currency Strength - Ghana's inflation rate peaked above 54% in December 2022 but has since decreased, reaching 8% last month, the lowest in over four years [1] - The Ghanaian currency, the cedi, has appreciated approximately 30% against the US dollar this year, alleviating inflationary pressures [1] Fiscal Policy and Future Expectations - The government aims to maintain fiscal restraint as it prepares to exit the IMF program, with a projected primary fiscal surplus of 1.5% of GDP by 2026 [1] - The central bank has cut the policy rate by a total of 1000 basis points by 2025, marking one of the most significant easing cycles in recent years [5] - The Bank of Ghana's dovish tone suggests potential for further rate cuts, with market expectations for at least another 500 basis points reduction by 2026 [5]

Core Points - The Bank of Ghana has cut its key interest rate by 350 basis points to 18% for the third consecutive time, anticipating continued inflation moderation [1] - Inflation in Ghana peaked above 54% in December 2022 but has since decreased, reaching 8% in the previous month, the lowest in over four years [1] - The Ghanaian currency, the cedi, has appreciated approximately 30% against the US dollar this year, alleviating inflationary pressures [1] - The government forecasts economic growth of about 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] - The central bank plans to use 14-day treasury bills to manage market liquidity [3] - Analysts expect the interest rate cut to gradually lower loan rates, providing relief to businesses and households facing high borrowing costs [4] - The Bank of Ghana has significantly improved its external account situation, allowing for more flexible policy decisions [4] - The central bank has lowered the policy rate by a total of 1000 basis points by 2025, marking one of the most aggressive easing cycles in recent years [5] - There are indications of potential further rate cuts, with market expectations suggesting a possibility of an additional 500 basis points reduction by 2026 [5]

【导读】加纳央行降息350个基点 大家好，简单关注一则加纳央行降息350个基点的消息！ 11月26日晚间，在通胀被预计将继续放缓的背景下，加纳央行连续第三次下调利率。 加纳央行行长约翰逊·阿西亚玛在首都阿克拉表示，货币政策委员会多数成员决定将关键利率下调350个 基点至18%。 阿西亚玛表示："当前实际利率水平仍然较高，为我们放松货币政策、进一步推动经济复苏提供了空 间。央行预计，未来的通胀走势将保持稳定，在目标区间附近运行，一直延续到2026年上半年。" 2022年12月，加纳通胀率曾一度高于54%；此后逐步回落，并在今年9月重新回到央行6%至10%的目标 区间。上个月通胀进一步降至8%，创下四年多来的新低。 作为非洲最大的黄金生产国，加纳受益于近期金价上涨以及财政前景改善，这帮助加纳货币塞地对美元 在今年累计升值约30%，缓解了通胀压力。 分析人士预计，这一决定将逐步降低贷款利率，为长期承受高借贷成本的企业和家庭带来缓解。 在新闻发布会上，阿西亚玛表示，当前通胀风险已明显减弱，实际利率仍处于较高水平，因此具备进一 步刺激经济活动的条件。他强调，央行的外部账户状况已显著改善，使政策决策更具灵活性。 阿西亚玛 ...