REDUCTION OF BOG'S POLICY RATE.WILL BOOM BUSINESS - DR. SHAFT BOAMAH



A financial analyst, Dr Shaft Boamah has expressed optimism in the growth of Ghanaian businesses after the Central Bank's reduction of its policy rate.


He believes as a developing country, more of those steps by the Bank of Ghana should be encouraged to create an enabling environment for entrepreneurs to employ more to boost the economy.

The Monetary Policy Committee of the Bank of Ghana has reduced the policy rate to 22.5%.

This was announced by the governor of the Bank of Ghana, Ernest Addison who attributed the reduction to a balance in growth in the economy as well as the downward trend of inflation.

But Dr Boamah in an interview on a Sunyani based radio station said the rate reduction was good and has a positive effect on the economy.

“This will reduce the cost of doing business in the country. Business owners will also be able to employ more workers and pay them well” the International Development consultant said.

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