This is a clear indication of the medium-term and forward-looking orientation of our policy. Between May and November 2001, we lowered our policy rates by a total of 150 basis points. In order to forestall imbalances that may not have been visible or evident at first sight, we have rarely been caught off guard by events.
We know that banks are working strenuously to meet this requirement which would help establish a banking industry that is well capitalized to support the much needed economic transformation Ghana needs. 4  5.