BoG Holds Policy Rate at 14.0% as Economy Shows Recovery
The Bank of Ghana’s Monetary Policy Committee has maintained the Monetary Policy Rate at 14.0 percent following its 130th meeting.
The Governor and MPC Chair, Johnson Pandit Asiama, announced the decision on May 20, 2026, citing signs of recovery in the domestic economy.
“The domestic economy continues to recover, as evidenced by the strong outturn in the Composite Index of Economic Activity during the first quarter,” Asiama said.
He added that growth is projected to remain strong, supported by an expansion in private sector credit.
However, he flagged commodity price volatility and supply chain disruptions as key downside risks to the outlook.
After reviewing recent economic developments, the Committee said risks to both inflation and growth were broadly balanced.
It reaffirmed its commitment to monitor global and domestic conditions closely and to adjust policy as needed.
The MPC also approved a uniform Cash Reserve Ratio of 20 percent, to be maintained in domestic currency. The new ratio takes effect on 4 June 2026.
The policy rate has now been held at 14.0 percent as the central bank weighs efforts to anchor inflation against the need to support economic expansion.
Story by Hajara Fuseini
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