The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has reduced the policy rate significantly by 350 basis points to 18 percent from 21.5 percent.

The decision was taken after the 127th meeting of the committee ended yesterday, November 25, 2025.

Speaking at press briefing at the headquarters of the Bank of Ghana in Accra, the Governor of the Bank of Ghana, Dr. Johnson Asiama announced that majority of the members of the committee voted for the huge reduction in the policy rate.

He explained that the committee is optimistic of maintaining price stability in the economy to help keep inflation in the target band. Inflation is currently at 8.0 percent.

"The bank projects a continued stable inflation profile around the target and well into the first half of next year, 2026. This is against the backdrop that current risks in the outlook to shift the path of inflation away from target have moderated significantly", he said.

Dr. Asiama added that the prevailing high real interest rate provides some hope to ease policy to further to boost the current growth recovery efforts.

"Given these considerations, the committee, by majority decision, voted to lower the monetary policy rate further by 350 basis points to 18.0%", he announced.

He assured that the committee will continue to monitor development and take the appropriate policy decisions to ensure sound and stable macroeconomic conditions.

He stated that the Bank of Ghana will continue to use its various monetary policy tools to check inflation and keep prices stable.

“We have one additional measure. In addition to the policy rate reduction, the bank will now return to the use of the 14 day bill as its main instrument for conducting open market operations”.

Below is the is the speech of the Governor