The Ghana’s Central Bank has cut its interest rate to a six-year low to consider a lower inflation target.
The rate was cut by 100 basis points to 16 percent.
The decision comes as the world trends towards tightening, pushing the local currency close to the weakest on record.
Inflation rate was 15.4 percent as of the end of 2016, 11.8 percent in 2017 and 9.4 percent in 2018.
Inflation is expected to remain inside the target band of 6 percent to 10 percent over the 24-month forecast.
