Posted 2/2/2024, 3:44:59 PM
IEA Director Disappointed by 'Modest' 100 Basis Point Interest Rate Cut, Says Businesses Need More Relief from High Rates
- Director of Research at Institute of Economic Affairs (IEA) expresses disappointment at 100 basis point cut in monetary policy rate from 30% to 29%
- IEA Director says he expected at least a 250 basis point cut to help reduce high interest rates hurting businesses
- Cut aimed at lowering inflation and interest rates, which are currently very high
- Bank of Ghana cut rate to support economic recovery while still targeting disinflation
- IEA Director said high monetary policy rate drives high inflation and interest rates in Ghana