MPC Cuts Policy Rate to 15.5% on Back of Stable Inflation, Growth Outlook
January 28,2026
The decision was announced on January 28, 2026, following a meeting of the Bank’s Monetary Policy Committee (MPC). It comes on the back of an earlier aggressive easing cycle in late 2025, during which the policy rate was cut by 350 basis points as inflation declined and real sector activity improved.
Speaking after the meeting, Governor of the Bank of Ghana, Dr. Johnson Asiama, said the committee was encouraged by the continued moderation in inflationary pressures and the strengthening momentum of economic growth.
According to Dr. Asiama, inflation has remained within the central bank’s target band and is expected to stay stable into 2026. This outlook, he noted, is supported by tighter fiscal discipline, improved supply-side conditions, and a more balanced inflation risk profile.
“The MPC, by majority decision, voted to lower the monetary policy rate by 250 basis points to 15.5 per cent. The committee will continue to monitor developments closely and take appropriate policy actions to ensure that the gains from macroeconomic stability are translated into sustainable growth,” the Governor stated.
He explained that real interest rates remain relatively high, providing room for a gradual recalibration of monetary policy without jeopardizing price stability.
The latest rate cut is expected to ease credit conditions, stimulate private sector activity, and support investment, particularly in productive sectors of the economy. The Bank projects that GDP growth will remain strong in 2026 as the economy continues to consolidate its recovery.
Dr. Asiama further assured that the Bank of Ghana will remain vigilant in monitoring both domestic and external developments and stands ready to adjust policy as necessary to safeguard macroeconomic stability.
He reiterated the central bank’s commitment to deploying a full range of monetary policy tools, including open market operations, to effectively manage liquidity and anchor inflation expectations.
The latest policy move underscores the Bank of Ghana’s effort to strike a balance between maintaining price stability and supporting economic growth as confidence in the recovery strengthens.
vistanewsgh.com
