Later today [Monday, September 15, 2025], the Bank of Ghana’s Monetary Policy Committee will begin its 126th regular meeting, concentrating on significant economic events.
Inflation has been steadily declining, and the cedi has recently somewhat declined on the foreign currency market.
In addition to reviewing the state of the economy, the meeting will establish the central bank’s policy stance.
The Bank of Ghana’s Monetary Policy Committee lowered the policy rate by 300 basis points to 25% during its most recent meeting in July. It followed five months in a row in which inflation decreased.
Although the market anticipates another rate decrease this month, bolstered by favorable base effects, the Committee faces risks that could soften its policy stance, as consumer inflation continues to decline to 11.5 percent in August, already below the year-end objective of 11.9 percent.
Tensions in international trade and a possible increase in utility tariffs continue to be positive risks to the inflation outlook. The Committee may be careful with the rate in light of this.
Governor Dr. Johnson Asiama has brushed down the recent deterioration in the local currency. Instead of seeing a reversal of previous stability advances, he ascribes the blips to seasonal trade pressures.
