The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has significantly reduced the policy rate to 25 percent from 28 percent.

The chairman of the committee, who is also the Governor of the BoG, Dr. Johnson Asiama made the announcement on Wednesday July 30, 2025 at a press briefing in Accra.

He disclosed that majority of the 7-member committee voted to reduce the policy rate.

“The MPC, by a majority decision, voted to lower the monetary policy rates by 300 basis points to 25.0%. Looking ahead, the Committee will continue to assess incoming data and likely reduce the policy rate further should the disinflation trend continue”, he said.

He assured that the committee remains committed to the price stability mandate while creating conditions for inclusive and sustainable growth.

He pointed out that there are upside risks to the inflation outlook, which include potential supply chain challenges emanating from the global trade tensions and upward adjustment in utility tariffs.

“These notwithstanding, the impact of these risks on inflation are expected to be offset by appropriately tight monetary policy stance and continued fiscal consolidation”, he said.

Inflation is currently at 13.7 percent.