The Bank of Ghana held its monetary policy rate at an eight-year low of 14.5% during its September meeting, saying that risks to the outlook for inflation and growth are broadly balanced. Policymakers also noted that the policy and regulatory relief measures recently introduced have enhanced liquidity in the banking system, preserved capital buffers, and provided relief to customers severely impacted by the pandemic. The bank said that despite the contraction in the second quarter, leading indicators of economic activity point to recovery in the third and fourth quarters. Still, the economy is seen growing at 2-2.5% this year, sharply down from 6.9% in 2019. The country's consumer price inflation eased to 10.5% in August, slightly above the upper band target, but it is expected to return to the bank's medium-term target of 8% by the second quarter of 2021, amid the easing of Covid-related food price pressures and continued stability in the exchange rate.
Interest Rate in Ghana averaged 17.80 percent from 2002 until 2020, reaching an all time high of 27.50 percent in March of 2003 and a record low of 12.50 percent in December of 2006. This page provides - Ghana Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ghana Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Bank of Ghana
Interest Rate in Ghana is expected to be 14.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Ghana to stand at 16.00 in 12 months time. In the long-term, the Ghana Interest Rate is projected to trend around 16.00 percent in 2021 and 15.00 percent in 2022, according to our econometric models.