Bank of Ghana Monetary Policy Committee Maintains Benchmark Rate at 27% as Inflation Normalization Consolidates

ACCRA, GHANA — The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has concluded its 120th regular meeting in Accra, unanimously deciding to hold the benchmark Monetary Policy Rate at 27.0% to firmly lock in recent disinflation gains.

Addressing economic editors at the central bank auditorium, Governor Dr. Ernest Addison noted that headline consumer inflation has dropped for five consecutive months, anchored by disciplined fiscal management, stable domestic food prices, and predictable central bank gold purchase reserves.

The Bank's domestic gold purchase program (Gold-for-Reserves) has accumulated more than 16.2 metric tonnes of refined bullion, swelling gross foreign reserves to $7.8 billion—equivalent to 3.8 months of import cover.

Governor Addison affirmed that commercial banks have demonstrated robust capital adequacy ratios exceeding 15.2%, ensuring that the banking sector is well-capitalized to expand private sector commercial lending as borrowing costs gradually decline.