The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has cut the policy rate by 150 basis points to 14 percent, the second consecutive time this year. In January, the committee reduced the policy rate from 18 percent to 15.5 percent.
Speaking at a press conference on March 18, 2026, the Governor of the Bank of Ghana, Dr. Johnson Asiama said the decision was made to support economic growth while keeping inflationary pressures in check. He added that the committee also considered the impact of the geopolitical tensions in the Middle East on Ghana’s economy.
“Rising geopolitical tensions in the Middle East have deepen uncertainty in the external sector. The bank’s latest forecast suggested that headline inflation would remain within the medium term target. Outside risks to the inflation outlook include the likely pass-through of higher crude oil prices and escalating geopolitical tensions”, he said.
He, however explained that the committee examined all the likelihood of Ghana’s economy, suffering from external factors and decided to cut the policy rate to 14 percent.
Credit: Joy Business
