His resignation takes effect from the 1st of April, 2017.
He has however been positive about the performance of the cedi, this he expressed to the media in his last monetary policy committee (MPC) press conference.
During that meeting he also announced a 200 basis point cut. This move resulted in the bank’s policy rate dropping from 25.5% to 23.5%
The drop was attributed to the decrease in inflationary trends among others.
“The Committee noted that underlying inflation pressures have eased considerably and inflation is projected to trend downwards the medium term target of 8 plus or minus 2 percent”.