Monetary Policy Committee of BoG maintains policy rate at 28%

Dr Johnson Pandit Asiama, Governor of Bank of Ghana

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has kept the policy rate unchanged at 28 percent.

Chairman of the committee and Governor of the BoG, Dr. Johnson Asiama made the announcement at a press briefing on May 23, 2025.

He explained that the committee took the decision in anticipation of inflation coming down soon. Inflation currently stands at 21.2 percent.

He disclosed that latest forecast points to continued easing of inflationary pressures on the back of tight monetary policy stance, exchange rate stability, and fiscal consolidation.

He pointed out that inflation is expected to ease faster towards the medium-term target in the first quarter of next year, that is 2026, as opposed to the second quarter as earlier envisaged, barring unanticipated shocks.

“Despite these positive developments, the committee observed that the current level of inflation remains high relative to the medium-term target and will require maintaining the policy rate at 28.0%”, he said.

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