The Ghana Union of Traders Associations (GUTA) has described the Bank of Ghana’s recent decision to cut the policy rate to 15.5 per cent as a bold vote of confidence in the country’s economic stability.
Speaking in an interview with 3 Business on 29 January 2026, the Head of GUTA’s Business and Economic Bureau, Charles Kusi Appiah Kubi, urged commercial banks to mirror the central bank’s rate cut to ease pressure on businesses.
Mr Appiah Kubi said while the Bank of Ghana has taken an important step, the effectiveness of the policy will depend largely on how commercial banks respond.
He noted that the reduction in the policy rate must translate into lower lending rates to have a real impact on businesses.
“It is indeed a significant move, showcasing confidence in the country’s economic stability. However, the economic benefits will only be realised if commercial banks respond to the reduction in the policy rate. The ability to reduce lending rates will help businesses feel the impact of this policy,” he said.
