The Bank of Ghana’s Monetary Policy Committee (MPC) has lowered the policy rate by 150 basis points to 14 percent, marking the second cut this year.
In January, the committee had reduced the rate from 18 percent to 15.5 percent.
Speaking at a press conference on March 18, 2026, BoG Governor Dr. Johnson Asiama said the move aims to support economic growth while keeping inflation under control.
He also noted that the committee took into account the potential effects of geopolitical tensions in the Middle East on Ghana’s economy.
“The Monetary Policy Committee has considered the current economic conditions, including subdued credit growth and declining non-performing loans, and decided that a reduction in the policy rate is appropriate to stimulate lending and investment.”
He added, “Our goal remains to ensure a stable financial system while supporting households and businesses to access affordable credit. This cut is expected to ease borrowing costs and promote economic activity.”
The Governor also highlighted that the banking sector remains strong and well-capitalised, despite slower credit growth, noting that, “Total assets in the banking sector have increased, and the stock of non-performing loans has declined, reflecting resilience in the financial system.”