Economist Daniel Amartey sees a glimmer of hope in the recent slowdown in inflation.
Speaking on Asaase Radio‘s 12 o’clock report, Amartey pointed to February’s inflation rate of 23.2%, down from 23.5% in January, as a positive signal for the country’s macroeconomic environment.
“It is a positive signal,” Amartey said. “Considering where we are coming from; from 54.3% thereabout, to this, it gives us a certain degree of confidence within the domestic economy.”
Amartey believes the easing of inflation signifies a positive response from Ghana’s macroeconomic policies.
This, he suggests, could lead to further reductions in the Bank of Ghana‘s (BoG) policy rate.
“There’s that possibility also Bank of Ghana responding by further reducing the policy rate,” Amartey explained.
“It will serve as positive news for businesses to be able to have access to capital at a very competitive rate for further productive expansion of their businesses.”
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