The Bank of Ghana cut its policy rate by 250 basis points to 15.5% at its first meeting of 2026, taking borrowing costs to their lowest level since February 2022. Governor Johnson Asiama said headline inflation is expected to move close to the medium-term target of 8.0%, while economic growth is projected to remain strong in 2026. Ghana’s inflation rate fell to 5.4% in December, its lowest since July 2022, marking the 12th straight month of disinflation. The central bank said it will continue to monitor developments closely and take appropriate policy action to ensure that the gains from macroeconomic stability translate into sustainable growth. source: Bank of Ghana

The benchmark interest rate in Ghana was last recorded at 15.50 percent. Interest Rate in Ghana averaged 20.02 percent from 2000 until 2026, reaching an all time high of 30.00 percent in July of 2023 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 February of 2026.

The benchmark interest rate in Ghana was last recorded at 15.50 percent. Interest Rate in Ghana is expected to be 13.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ghana Interest Rate is projected to trend around 12.50 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-09-17 04:00 PM Interest Rate Decision 21.5% 25% 23.0%
2025-11-26 01:15 PM Interest Rate Decision 18% 21.5% 18.25%
2026-01-28 02:00 PM Interest Rate Decision 15.5% 18% 16%
2026-03-18 12:00 PM Interest Rate Decision 15.5%
2026-05-20 12:00 PM Interest Rate Decision
2026-07-22 12:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Banks Balance Sheet 459292.45 451505.04 GHS Million Dec 2025
Central Bank Balance Sheet 270578.56 255051.60 GHS Million Dec 2025
Foreign Exchange Reserves 11410.60 11604.00 USD Million Oct 2025
Interest Rate 15.50 18.00 percent Jan 2026
Money Supply M1 211593.90 190196.40 GHS Million Dec 2025
Money Supply M2 314416.40 289444.80 GHS Million Dec 2025


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).
Actual Previous Highest Lowest Dates Unit Frequency
15.50 18.00 30.00 12.50 2000 - 2026 percent Daily

News Stream
Bank of Ghana Cuts Rates by 250bps
The Bank of Ghana cut its policy rate by 250 basis points to 15.5% at its first meeting of 2026, taking borrowing costs to their lowest level since February 2022. Governor Johnson Asiama said headline inflation is expected to move close to the medium-term target of 8.0%, while economic growth is projected to remain strong in 2026. Ghana’s inflation rate fell to 5.4% in December, its lowest since July 2022, marking the 12th straight month of disinflation. The central bank said it will continue to monitor developments closely and take appropriate policy action to ensure that the gains from macroeconomic stability translate into sustainable growth.
2026-01-28
Ghana Delivers Another Steep Cut to Policy Rate
The Bank of Ghana trimmed its benchmark monetary policy rate by another 350 bps to 18% on November 26, 2025, marking the third consecutive rate reduction this year. Policymakers cited an improved macroeconomic outlook and expectations of a continued decline in inflation. Ghana's annual inflation rate fell to an over four-year low of 8% in October 2025, marking the tenth consecutive period of deceleration and aligning with the mid-point of the central bank’s 6%–10% target band. "Inflation has eased faster than we anticipated, and is likely to settle between 4% and 6% by year's end before stabilizing around the target band in 2026,” said Governor Johnson Asiama. Meanwhile, economic growth for the year is projected to remain solid.
2025-11-26
Ghana Cuts Key Policy Rate by Record Amount, 350 bps
The Bank of Ghana cut its benchmark monetary policy rate by 350 bps to 21.5% on September 17th, citing sustained disinflation, robust growth, and stronger external buffers. Headline inflation fell to 11.5% in August, the lowest level in four years. Economic activity remained strong, with real GDP expanding 6.3% in Q2 2025 and non-oil GDP rising 7.8%, supported by solid gains in agriculture and services. The external sector continued to strengthen, with a provisional trade surplus of $6.2 billion and gross international reserves of $10.7 billion by the end of August, equivalent to 4.5 months of import cover. The cedi appreciated 21% year-to-date against the US dollar, remaining among the strongest currencies globally. Despite potential risks from utility tariff adjustments, the central bank noted broadly anchored inflation expectations, improved external buffers, and growing domestic confidence, reaffirming its commitment to supporting the recovery without undermining recent gains.
2025-09-17