Bank of Ghana Holds Interest Rate at 14% Amid Global Economic Uncertainty
The Bank of Ghana has maintained its benchmark monetary policy rate at 14% for the third consecutive time. The decision was made by the Monetary Policy Committee (MPC) due to heightened global uncertainty and a recent uptick in headline inflation, despite continued improvements in Ghana's macroeconomy.
The Governor of the Central Bank, Dr. Johnson Asiama, stated that the balance of risks to inflation and growth is broadly balanced, which led to the unanimous decision to maintain the policy rate at 14%.
Ghana's economy has been resilient in the first half of 2026, supported by strong investment in Artificial Intelligence (AI) and a less severe impact of energy shocks. However, global inflationary pressures have heightened since July 2026, driven by elevated crude oil prices hovering above $100 per barrel.
The Central Bank Governor noted that most central banks have shifted from caution to modest tightening, with the US Federal Reserve, European Central Bank, and Bank of Japan all raising rates on persistent inflation. This has tightened financing for emerging economies like Ghana.