The Bank of Ghana kept its prime lending rate steady at 17 percent at its November 2018 meeting, as widely expected. Policymakers noted that the disinflation process continued but at a slower pace, remaining within the target range (8 +/- 2 percent). The annual inflation rate fell to 9.5 percent in October from 9.8 percent in September mainly due to lower cost of non-food and it is expected to remain within the medium-term target range, still there are risks including global trade tensions, a stronger US dollar, higher US interest rates and global inflation. The Committee added that the economic growth has been modest and it is projected to be at 5.6 percent in 2018, amid further increases in crude oil production due to the resolution of the Ghana and Ivory Coast maritime dispute while the non-oil growth is expected to be at 5.8 percent. The country rebased its nationals accounts from 2006 prices to 2013 in the second quarter of the year. Interest Rate in Ghana averaged 18.08 percent from 2002 until 2018, 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.

Interest Rate in Ghana is expected to be 17.00 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 15.00 in 12 months time. In the long-term, the Ghana Interest Rate is projected to trend around 14.75 percent in 2020, according to our econometric models.

Ghana Interest Rate
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Calendar GMT Actual Previous Consensus TEForecast
2018-05-21 12:00 PM Interest Rate Decision 17% 18% 17% 18.00%
2018-07-23 12:00 PM Interest Rate Decision 17% 17% 17% 17%
2018-09-24 12:00 PM Interest Rate Decision 17% 17% 17% 17%
2018-11-26 12:00 PM Interest Rate Decision 17% 17% 17% 17%
2019-01-28 12:00 PM Interest Rate Decision 17%
2019-03-25 12:00 PM Interest Rate Decision
2019-05-27 12:00 PM Interest Rate Decision

Ghana Money Last Previous Highest Lowest Unit
Interest Rate 17.00 17.00 27.50 12.50 percent [+]
Banks Balance Sheet 104339.02 103126.98 104339.02 1923.60 GHS Million [+]
Foreign Exchange Reserves 6756.43 6693.15 8289.71 300.26 USD Million [+]
Deposit Interest Rate 13.17 13.22 36.02 7.58 percent [+]
Central Bank Balance Sheet 62353.61 61994.48 62853.72 4630.30 GHS Million [+]

Ghana Interest Rate

In Ghana, interest rates decisions are taken by the Monetary Policy Committee of the Bank of Ghana. The official interest rate is the Monetary Policy Rate (MPR). This page provides - Ghana Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ghana Interest Rate - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
17.00 17.00 27.50 12.50 2002 - 2018 percent Daily

Country Last Previous
Argentina 59.44 Dec/18
Turkey 24.00 Dec/18
Mexico 8.00 Nov/18
Russia 7.75 Dec/18
South Africa 6.75 Nov/18
Brazil 6.50 Dec/18
India 6.50 Dec/18
Indonesia 6.00 Nov/18
China 4.35 Nov/18
Saudi Arabia 2.75 Nov/18
United States 2.25 Nov/18
Singapore 1.97 Nov/18
Canada 1.75 Dec/18
South Korea 1.75 Nov/18
Australia 1.50 Dec/18
United Kingdom 0.75 Nov/18
Euro Area 0.00 Dec/18
France 0.00 Dec/18
Germany 0.00 Dec/18
Italy 0.00 Dec/18
Netherlands 0.00 Dec/18
Spain 0.00 Dec/18
Japan -0.10 Nov/18
Switzerland -0.75 Dec/18