The Governor of the Bank of Ghana, Dr. Johnson Asiama, has highlighted that recent monetary policy adjustments are providing businesses with access to more affordable financing.

This follows the Monetary Policy Committee’s decision to reduce the policy rate by 150 basis points to 14 percent, a move aimed at easing borrowing conditions for firms and consumers.

Speaking to journalists, Dr. Asiama explained that the central bank has been implementing measures to lower lending costs. “With the adjustment in our policy rate, firms now have access to cheaper funding.

This is a deliberate step to stimulate private sector activity and support economic growth,” he said.

He added that reduced borrowing costs give businesses greater confidence to plan and invest. “Lower borrowing costs allow businesses to plan and invest with more certainty, which is critical for sustaining growth,” Dr. Asiama noted.

While emphasising the benefits of the rate cut, the Governor stressed that the bank will continue to watch inflation trends and global economic pressures, including energy price fluctuations, to maintain overall financial stability.

“Our goal is to create an environment where businesses can thrive, while keeping inflation and financial stability under control,” he said.

The rate reduction comes as part of the Bank of Ghana’s strategy to revive lending activity, which has slowed in recent months despite a robust and well-capitalized banking sector.