In support of economic growth, the Bank of Ghana has reduced the Monetary Policy Rate from 18% to 15.5% promising to monitor developments in the economy closely in order to take an appropriate policy actions to ensure that the current gains from macroeconomic stability are translated into sustainable growth.
The decision was made during the bank’s 128th Monetary Policy Committee (MPC) meeting held on January 28, marking the first policy adjustment of the year.
In taking the policy decision, the BoG Boss said the Committee acknowledged that macroeconomic conditions have improved significantly, “this was supported by the tight monetary policy stance, fiscal consolidation, and significant build-up of reserves. Inflation has declined faster than anticipated, expectations remain well anchored, and growth has strengthened. With stability largely achieved, the focus of policy is gradually shifting toward consolidating these gains and supporting stronger real sector recovery, job creation, and improved financial intermediation”.
The Governor, Dr. Johnson Asiama revealed that the rate was lowered by 250 basis points, following a substantial 350-basis-point cut in November 2025, when the MPR was reduced from 21.5% to 18%. The latest cut underscores the central bank’s confidence in easing inflationary pressures and signals a continued support for economic growth amid cautious inflation management.
“The committee voted to lower the monetary policy rate by 250 basis points to 15.5%. We will continue to monitor developments closely and take appropriate policy actions as necessary,” Dr. Asiama stated during the briefing at Bank Square.
The decision reflects positive outlooks on key macroeconomic indicators both domestically and internationally. The Bank of Ghana remains committed to a measured and forward-looking monetary policy approach, balancing the need for growth stimulation with the goal of maintaining price stability.
