BoG Begins 132nd MPC Meeting Under New IMF Programme

The Bank of Ghana (BoG) has commenced its 132nd Monetary Policy Committee (MPC) meeting, the first under Ghana’s 36-month Policy Coordination Instrument (PCI) with the International Monetary Fund (IMF).

The meeting, which started today, Tuesday, September 23, 2026, was opened by the Governor of the Bank of Ghana, Dr Johnson Pandit Asiama.

In his opening remarks, Dr Asiama welcomed members of the Committee and staff to the deliberations, describing the meeting as signalling a new phase focused on consolidating macroeconomic stability.

He highlighted key global and domestic developments shaping the outlook, including the evolving crisis in the Middle East, rising global energy prices, Ghana’s inflation trajectory, exchange rate stability, reserve accumulation, economic growth, and fiscal developments.

The Committee is expected to carefully assess the balance of risks and determine the appropriate monetary policy stance at a time when headline inflation stood at 5.0 per cent in August, and real GDP growth reached 6.0 per cent in the second quarter of 2026.

The Governor noted that rebuilding net foreign assets and strengthening reserves remain key priorities as Ghana heads into the fourth quarter of the year.

The 132nd MPC meeting is currently underway.

The Committee’s decision on the policy rate is expected to be announced at the end of its deliberations.

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