The Monetary Policy Committee (MPC) of the Bank of Ghana is set to announce its decision on the policy rate, a key determinant of lending costs for the next two months.

The policy rate dictates the interest rate at which banks lend to businesses and the private sector, significantly influencing economic activity.

During its 125th meeting, the Bank of Ghana cut the policy rate by 300 basis points to 25 percent from 28 percent.

The BoG Governor said the decision was reached on the back of significant improvements in the economy.

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