Bank of Ghana Holds Rate for Third Meeting

2026-09-24 15:01 By Luisa Carvalho 1 min. read

The Bank of Ghana left its benchmark interest rate steady at 14.0% during its September 2026 meeting, marking a third consecutive pause, amid inflation risks.

The Committee said the risks to inflation and growth were broadly balanced, with the current policy stance aimed at bringing inflation toward the central bank’s medium-term target of 8%.

Ghana’s headline inflation quickened to 5.0% in August from 4.6% in July, and is projected to move up over the next few quarters.

Governor Johnson Asiama highlighted renewed economic risks from the escalating Middle East crisis, warning that higher energy and fertiliser costs could add to inflationary pressures.

He also flagged vulnerabilities in the current account and international reserves, stressing the need to rebuild external buffers to cushion the economy against potential shocks.



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Bank of Ghana Holds Rate for Third Meeting
The Bank of Ghana left its benchmark interest rate steady at 14.0% during its September 2026 meeting, marking a third consecutive pause, amid inflation risks. The Committee said the risks to inflation and growth were broadly balanced, with the current policy stance aimed at bringing inflation toward the central bank’s medium-term target of 8%. Ghana’s headline inflation quickened to 5.0% in August from 4.6% in July, and is projected to move up over the next few quarters. Governor Johnson Asiama highlighted renewed economic risks from the escalating Middle East crisis, warning that higher energy and fertiliser costs could add to inflationary pressures. He also flagged vulnerabilities in the current account and international reserves, stressing the need to rebuild external buffers to cushion the economy against potential shocks.
2026-09-24
Bank of Ghana Keeps Key Rate Unchanged
The Bank of Ghana kept its benchmark interest rate unchanged at 14.0% during its July 2026 meeting, pausing for the second time. The decision aligns with a growing number of central banks opting to keep borrowing costs higher for longer amid renewed geopolitical tensions in the Middle East and their potential impact on inflation. Governor Johnson Asiama said the current policy stance is intended to steer inflation toward the central bank's medium-term target while allowing policymakers more time to assess incoming data and its implications for the domestic economy. Headline inflation accelerated to 5.3% in June from 3.7% in May, driven largely by higher fertilizer prices following the surge in global oil prices.
2026-07-22
Ghana Pauses Monetary Easing Cycle
The Bank of Ghana left its benchmark interest unchanged at 14% in its May 2026 meeting, pausing after five consecutive rate cuts. Policymakers said the decision reflected a cautious but supportive stance designed to anchor inflation expectations while also supporting economic activity. Governor Johnson Asiama noted that the Middle East conflict had “stoked inflationary concerns and underlined policy uncertainty, with potential implications for the domestic economy.” Ghana’s annual inflation rate inched up to a three-month high of 3.4% in April, from 3.2% in March, but remained subdued overall.
2026-05-20