The Bank of Ghana (BoG) has announced the reduction of the policy rate from 18 percent to 16 percent, APA learns here Tuesday.This is considered to be the lowest Monetary Policy Rate (MPR) since December 2013.

The Governor of the BoG, Dr. Ernest Addison, announced this in Accra on Monday after noting that inflation rate reduced to 9.4 percent latter in 2018.

“The committee noted that immediate risks to the disinflation path are well contained and the current conditions provide the scope to translate some of the gains in the macro stability to the economy,” he said.