The Bank of Ghana (BoG) has revealed that it expects Ghana to record single-digit inflation before the end of 2025.

According to the Central Bank, the projection is anchored on its current monetary tightening stance, fiscal consolidation, and improved food supplies, which have accelerated the pace of disinflation.

The forecast is based on the fact that the economy does not experience any significant shocks or external disruptions in the coming months.

Director of Research at the Central Bank, Dr Philip Abradu-Otoo, disclosed this on PM EXPRESS BUSINESS EDITION with host George Wiafe.

“We have seen a rapid disinflation over the past months, and we expect that to be sustained going forward,” he maintained.

Dr Abradu-Otoo further noted, “At the beginning of the year when we did our projection, we were expecting to hit single digits in the first quarter of 2026.

However, based on current developments in the economy, the Bank of Ghana has pushed this forward to the last quarter of 2025.”

He explained that this outlook was one of the reasons the Monetary Policy Committee cut its key lending rate by 350 basis points to 21.5%.

Sustaining Gains

Speaking on the show, Dr Abradu-Otoo assured that the Bank of Ghana remains committed to maintaining stability in the monetary space.

“The Bank of Ghana will definitely continue with what we are doing to ensure that things do not get out of hand,” he said.

He added, “The Central Bank will continue to work to ensure consistency in policies and build reserves to ensure that we have a firm grip on the market.”

Responding to criticisms about the margin of the policy rate cut, Dr Abradu-Otoo stressed that the decision was informed by data and a positive economic outlook.

“The decision was unanimous in terms of the need for the policy to be cut; however, the margin was based on a vote,” he explained.

The Director of Research therefore maintained that all members of the Monetary Policy Committee agreed on a cut, but the extent of the reduction “was when we had to vote.”