Bank of Ghana maintains monetary policy rate at 14%

Story by: Regina Bless

The Monetary Policy Committee (MPC) of the Bank of Ghana has unanimously decided to maintain the Monetary Policy Rate at 14.0% following its 132nd regular meeting held from September 23 to 24, 2026.

The Committee cited the continued resilience of Ghana’s domestic economy, supported by easing credit conditions as well as improved business and consumer confidence.

However, the MPC acknowledged emerging inflationary risks, including higher crude oil prices, increases in utility tariffs and global supply chain pressures.

Commenting on the decision, Bank of Ghana Governor Dr. Johnson Pandit Asiama said, “The balance of risks to inflation and growth remains broadly balanced.”

Headline inflation increased to 5.0% in August 2026, although the Committee noted that inflation expectations remain well anchored. Economic activity also remained strong, with real GDP growth reaching 6.0% in the second quarter of 2026.

The Committee further reported that Ghana’s banking sector remains solvent, profitable and liquid, reflecting continued stability within the financial sector.

The MPC said it will continue to closely monitor economic developments and assess their implications for inflation and economic growth as it considers future monetary policy decisions.