Bank of Ghana cuts policy rate by 250 basis points to 15.5% in January 2026
Exterior view of the Bank of Ghana's modern corporate headquarters complex (Bank Square) in Accra, Source Bank of Ghana via FB used for editorial purposes only.

The Bank of Ghana’s Monetary Policy Committee cut the policy rate by 250 basis points to 15.50% on 28 January 2026, at the end of its first meeting of the year. The decision was taken by a majority vote of the Committee.

INFLATION BELOW TARGET BAND

Headline inflation fell to 5.4% in December 2025, from 23.8% a year earlier, below the central bank’s 8% (±2 percentage points) medium-term target. Real GDP grew 6.1% in the first three quarters of 2025, and gross international reserves stood at US$13.8 billion.

The cut followed a 350 basis point reduction in November 2025 and brought the policy rate below the 28% level of the first half of 2025.

Sources: Bank of Ghana, monetary policy releases; Bank of Ghana MPC statement (full text), 28 January 2026.