Also known as: MPC · Monetary Policy Committee of the BoG · 130th Monetary Policy Committee meeting
Monetary Policy Committee — Bank of Ghana body that sets Ghana's policy rate; voted 14% unchanged in May 2026.
Verbatim sentences from the source article.
Joy Online
… Impact If this forecast is anything to go by, it could influence members of the Monetary Policy Committee to vote for a policy rate hike or maintain the rate at its current level during their next meeting, scheduled for July 20 to 22, 2026. …
BoG fears inflation could inch above 10% by year-end due to rising crude pricesJoy Online
… He noted that one of the first major decisions taken by the Monetary Policy Committee was to increase the policy rate to curb inflationary pressures and restore confidence in the economy. …
BoG’s consultative approach helping shape economic recovery – GovernorBusiness & Financial Times
… The 130th Monetary Policy Committee meeting, which concluded on May 20, maintained the policy rate at 14 percent. …
Real interest rate gap widest among single-digit inflation economies in AfricaJoy Online
All six members of the Monetary Policy Committee (MPC) of the Bank of Ghana voted for the policy rate to be kept unchanged at 14%. …
All 6 MPC members voted for policy rate hold of 14%, citing inflation outlook concernsJoy Online
… Speaking at the opening of the 130th meeting of the Monetary Policy Committee (MPC) at the Bank of Ghana headquarters, Dr Asiama described the initiative as a major shift in the country’s cocoa financing strategy. …
Gov’t to start selling $1bn bond to fund cocoa purchases – BoGThe Chronicle
… Dr Asiama said this at a press briefing at the end of the 130th Monetary Policy Committee meeting, while responding to a question posed by the Ghana News Agency on measures the Central Bank was employing to address its losses. …
BoG losses will not recur at last year’s scale -Governor AsiamaJoy Online
… The Bank of Ghana’s Monetary Policy Committee (MPC) voted by a majority decision to leave the policy rate unchanged at 14.0% during its May 2026 meeting, being the first rate-hold decision in exactly a year. …
BoG policy rate hold confirms inflation to trend upwards – IC InsightsJoy Online
… Dr Asiama said this at a press briefing following the 130th Monetary Policy Committee meeting while responding to a question posed by the Ghana News Agency on measures the Central Bank was employing to address its losses. …
BoG losses will not recur at last year’s scale — Governor Asiama assuresJoy Online
… Speaking at the end of the 130th Monetary Policy Committee meeting in Accra on Wednesday, Dr Asiama said the regulatory and supervisory framework for non-interest banking was far advanced following the publication of comprehensive guidelines in January 2026. …
First non-Interest bank expected in Ghana this year – BoG GovernorJoy Online
… The decision was taken at the Bank of Ghana’s Monetary Policy Committee meeting held on Wednesday, May 20, 2026, and the reversed measure is to take effect on June 4, 2026. …
Bank of Ghana reverts to previous Cash Reserve Ratio policy after scrapping it last yearBank of Ghana Governor Dr Johnson Asiama cautioned that although global oil prices are falling following a Middle East ceasefire, Ghana and other emerging economies must remain alert to external risks including tighter global financial conditions, US dollar strength, and international economic uncertainty that continue to threaten economic stability.
29 June 2026 · Joy Online →
Bank of Ghana Governor Dr Johnson Asiama cautioned that although global oil prices are falling following a Middle East ceasefire, Ghana and other emerging economies must remain alert to external risks including tighter global financial conditions, US dollar strength, and international economic uncertainty that continue to threaten economic stability.
29 June 2026 · Joy Online →
Ghana has the highest policy rate among 44 African countries at 14.0%, according to the AfDB 2026 African Economic Outlook, though it has dropped significantly in the past year. The country's average lending rate remains elevated at 16.33% in April 2026, down from 20.58% in January 2026.
21 June 2026 · Joy Online →
The Governor of the Bank of Ghana has urged banks to formalise robust policies on third-party collateral and strengthen due diligence procedures, citing instances of fraudulent land titles, forged ownership documents, and falsified consent letters used in credit applications.
19 June 2026 · Daily Guide →
The Bank of Ghana will work with commercial banks to develop investment-linked remittance products that direct diaspora inflows toward business expansion, infrastructure, and capital formation rather than consumption. The initiative is part of broader central bank efforts to leverage improving macroeconomic conditions and support productive economic activity.
19 June 2026 · Business & Financial Times →
The Bank of Ghana plans to work with commercial banks to develop investment-linked remittance products that channel diaspora inflows into business expansion, infrastructure projects and long-term capital formation rather than consumption, according to central bank Governor Johnson Pandit Asiama.
17 June 2026 · Business & Financial Times →
Bank of Ghana Governor Dr. Johnson Asiama said that developments in the Middle East and a peace deal will influence Ghana's inflation outlook, and the central bank is monitoring events ahead of the next Monetary Policy Committee meeting. The Governor noted that the last MPC decision to maintain the policy rate at 14 percent reflected balanced risks to inflation and growth at that time, with expectations that things might change.
16 June 2026 · Joy Online →
Ghana's headline inflation rose to 3.7 percent year-on-year in May from 3.4 percent in April, driven by food, energy, and imported cost pressures, narrowing the case for further monetary easing by the Bank of Ghana despite inflation remaining below its medium-term target band.
8 June 2026 · Business & Financial Times →
Bank of Ghana Governor Dr. Johnson Asiama told Bloomberg the country has built the necessary reserves to withstand oil price shocks, expressing confidence that current crises will be short-term and that resilience has improved over the past year.
5 June 2026 · Joy Online →
The Bank of Ghana is raising the amount of foreign exchange available to the market under its Forex Intermediation Programme to $1.2 billion for June 2026, up from $1 billion in May, as the cedi faces renewed pressure. The central bank will guide its actions by a newly approved foreign exchange operations framework, with future monthly volumes to be determined by prevailing market conditions.
3 June 2026 · Joy Online →
Senior financial sector figures at The Money Summit 2026 agreed that Ghana has restored macroeconomic stability after a difficult adjustment period, with inflation falling to 3.4 percent and interest rates declining significantly, but warned that significant structural weaknesses continue to threaten the recovery's sustainability.
3 June 2026 · Business & Financial Times →
The Bank of Ghana projects inflation could rise above 10 percent by year-end if crude oil prices remain above 100 dollars, potentially breaching its upper target band. Rising fuel costs could drive transport fares and utility tariffs higher, pressuring inflation in coming months.
2 June 2026 · Joy Online →
Bank of Ghana Governor Dr Johnson Pandit Asiama says a consultative and listening-based leadership has shaped policies supporting Ghana's economic recovery. The central bank has engaged trader associations, financial institutions, and other stakeholders to understand economic challenges and implement reforms, including changes to the foreign exchange framework and solutions for digital content creators receiving international payments.
1 June 2026 · Joy Online →
Ghana carries one of the widest real interest rate gaps of any single-digit inflation economy in Africa, with a real rate of approximately 10.6 percentage points, which economists say is constraining private sector credit access despite the Bank of Ghana holding its policy rate steady at 14 percent with headline inflation at 3.4 percent in April 2026.
1 June 2026 · Business & Financial Times →
All six members of the Bank of Ghana's Monetary Policy Committee voted to keep the policy rate unchanged at 14% in May, citing concerns about Middle Eastern developments and their potential impact on Ghana's inflation outlook. Some members worried inflation could rise above 10% by year-end if current developments persist.
29 May 2026 · Joy Online →
The Governor of the Bank of Ghana has announced that cocoa purchases for the 2026/27 crop season will be financed through $1 billion to be raised from the domestic bond market, part of efforts to strengthen Ghana's cocoa financing system and reduce dependence on foreign borrowing.
29 May 2026 · Joy Online →
The Bank of Ghana Governor said significant operating and OCI losses in 2025 will not recur at the same scale in 2026, citing changed conditions including expected lower cedi revaluation losses and reduced open market operation costs as inflation moderates.
25 May 2026 · The Chronicle →
The Bank of Ghana's Monetary Policy Committee voted to keep the policy rate unchanged at 14.0% in May 2026, its first rate hold in a year. IC Insights research firm states the decision confirms inflation will trend upwards above 6.0%, though fiscal discipline and lower VAT should keep it below 10.0% by end-2026.
24 May 2026 · Joy Online →
Bank of Ghana Governor Dr Johnson Pandit Asiama has assured the public and investors that the significant operating and Other Comprehensive Income losses incurred in 2025 will not recur at the same scale in 2026, citing a fundamental shift in the three key conditions that drove those losses: revenue losses from the Domestic Debt Exchange Programme, revaluation losses from the cedi's sharp appreciation, and the high cost of open market operations to curb inflation.
24 May 2026 · Joy Online →
Ghana's Bank of Ghana Governor says the country is expected to establish its first non-interest banking institution this year, with one indigenous bank having formally applied for a licence and four others preparing applications. The central bank published comprehensive guidelines for the regulatory and supervisory framework in January 2026.
22 May 2026 · Joy Online →
The Bank of Ghana has reversed its June 2025 decision to adopt currency-matched cash reserve ratios and returned to the previous unified 15% CRR policy on both cedi and foreign currency deposits, held in cedis. The reversal takes effect June 4, 2026, after experts said the currency-matched system contributed significantly to the central bank's 2025 losses.
21 May 2026 · Joy Online →
The Bank of Ghana's Governor said the country is unlikely to return to persistent cedi depreciation as ongoing economic reforms strengthen confidence in the economy. He attributed recent foreign exchange gains to stronger macroeconomic fundamentals, improved inflows including gold exports and remittances, and continued central bank monitoring.
21 May 2026 · Joy Online →
The Governor of the Bank of Ghana has defended the Monetary Policy Committee's decision to hold the policy rate at 14%, citing ongoing Middle East conflict as a key source of uncertainty threatening Ghana's inflation outlook and economic stability. Although economic indicators suggest room for further rate cuts, the MPC chose to pause and monitor global developments due to risks posed by the geopolitical crisis.
21 May 2026 · Joy Online →
The Monetary Policy Committee maintained the policy rate at 14 percent, with the Bank of Ghana Governor citing the Middle East conflict as an external risk that could undermine Ghana's inflation outlook despite improving domestic economic indicators.
21 May 2026 · Joy Online →
The Governor of the Bank of Ghana defended the Monetary Policy Committee's decision to maintain the policy rate at 14 percent, citing lingering geopolitical tensions in the Middle East as a serious risk to Ghana's inflation outlook and economic stability. Although current economic indicators suggest room for further monetary easing, the MPC decided to pause and monitor global developments because of uncertainties surrounding the Middle East crisis.
21 May 2026 · The Chronicle →
The Central Bank of Nigeria's Monetary Policy Committee voted to retain the Monetary Policy Rate at 26.5% and maintained all key policy parameters, citing persistent inflationary pressures and the need to sustain macroeconomic stability. Nigeria's headline inflation rose to 15.69% in April 2026 from 15.38% in March 2026.
21 May 2026 · The Chronicle →
The Bank of Ghana held its benchmark monetary policy rate at 14 percent and amended the dynamic cash reserve ratio framework to a uniform 20 percent reserve requirement in domestic currency, effective June 4, 2026, as policymakers respond to external inflation risks from Middle East tensions.
21 May 2026 · Business & Financial Times →
Bank of Ghana Governor Dr. Johnson Asiama says the central bank has not abandoned the eCedi project and remains committed to the digital currency initiative, though authorities want to undertake more pilot programmes before full-scale rollout and are exploring how to deploy it for cross-border payments and trade improvements in the region.
20 May 2026 · Joy Online →
Bank of Ghana Governor Dr. Johnson Asiama says the central bank is not artificially intervening in the foreign exchange market, but rather building reserves and strengthening buffers to support long-term economic stability and cedi stability.
20 May 2026 · Joy Online →
Bank of Ghana Governor Dr. Johnson Asiama says ongoing Middle East tensions could affect global commodity prices and inflation, though Ghana's domestic economy shows strong signs of recovery with improving macroeconomic conditions and easing inflationary pressures. The BoG maintained its policy rate at 14 percent.
20 May 2026 · Joy Online →
Bank of Ghana Governor Dr. Johnson Asiama said the non-performing loans ratio within Ghana's banking sector is expected to decline further as new regulatory guidelines take effect, citing recent policy interventions and stricter supervisory measures to strengthen asset quality across commercial banks.
20 May 2026 · Joy Online →