Bank of Ghana begins 132nd MPC meeting amid global and domestic economic risks

Story by: Regina Bless

The Bank of Ghana (BoG) has today, Wednesday, September 23, 2026, commenced its 132nd Monetary Policy Committee (MPC) meeting, as the central bank assesses the latest developments in Ghana’s economy and determines the appropriate monetary policy direction.

The meeting, which runs from September 23 to 24, is expected to conclude with a press conference on Thursday, September 24, when the MPC’s policy decision will be announced.

Governor Dr. Johnson Asiama welcomed members and staff at the opening of the meeting and highlighted several developments that could influence the Committee’s deliberations. These include the evolving crisis in the Middle East, rising global energy prices, Ghana’s inflation trajectory, exchange-rate developments, reserve accumulation, economic growth and fiscal conditions.

According to the figures highlighted ahead of the meeting, Ghana’s headline inflation stood at 5.0 percent in August 2026, while real GDP growth reached 6.0 percent in the second quarter, pointing to continued expansion in economic activity.

A major focus of the Committee will be how to sustain recent macroeconomic gains while managing emerging external risks, particularly those linked to global energy prices and geopolitical developments.

The Governor also stressed the importance of rebuilding Ghana’s net foreign assets and strengthening the country’s reserve position as the economy enters the final quarter of the year.

The MPC is responsible for formulating monetary policy, with price stability as the Bank of Ghana’s primary objective. The Bank currently operates an inflation-targeting framework with a medium-term target of 8 percent, with a symmetric band of ±2 percent.

The 132nd MPC meeting is currently underway, with attention now focused on the Committee’s assessment of the risks facing the economy and the policy decision to be announced on Thursday.