The Bank of Ghana’s Monetary Policy Committee has reduced the Monetary Policy Rate by 250 basis points to 15.5 %, citing significantly improved macroeconomic conditions and faster-than-expected disinflation.
The decision was announced by the Governor of the Bank of Ghana and Chairman of the Monetary Policy Committee, Dr. Johnson Pandit Asiama, at the 128th MPC Press Briefing held in Accra.
According to the Committee, inflation has declined sharply, expectations remain well anchored, and economic growth has strengthened, providing space for a cautious recalibration of monetary policy while maintaining overall stability.
Headline inflation fell from 23.8 % in December 2024 to 5.4 % in December 2025, supported by tight monetary policy, fiscal consolidation, and currency appreciation. Core inflation, which excludes energy and utility prices, also eased, indicating subdued underlying price pressures.
The MPC noted that while macroeconomic stability has largely been achieved, current monetary conditions remain tight relative to prevailing inflation dynamics. The policy adjustment is therefore aimed at consolidating gains while supporting stronger real-sector recovery, job creation, and improved financial intermediation.
The Committee said it would continue to closely monitor domestic and external developments and take further policy actions where necessary to ensure sustained growth and stability.
