The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has unanimously decided to maintain the policy rate at 28%, reinforcing the central bank's commitment to consolidating recent gains in price stability and economic recovery.
After the MPC meeting, BoG Governor, Dr Johnson Asiama said the decision was anchored in the need to sustain the disinflation process, which, while promising, remains incomplete.
He further said: "Headline inflation has continued its steady decline, reaching 21.2% in April, supported by a stable exchange rate, tight liquidity conditions, and continued fiscal consolidation." Dr Asiama noted that economic indicators show strong signs of recovery, with inflation now projected to reach the medium-term target range by the first quarter of 2026-earlier than previously anticipated. "The Ghanaian Cedi has also posted significant gains, appreciating by more than 24% against the US dollar so far this year.
Additionally, the external sector has performed strongly, delivering a record current account surplus and boosting international reserves. "In this context, maintaining the policy rate sends a strong signal that we are not loosening prematurely.
