Policy Rate cut was to preserve stability amid rising global oil prices - BoG Governor
The Governor of the Bank of Ghana, Johnson Pandit Asiama, on Friday 6 November 2026, appeared before the Parliamentary Committee on Economy and Development to update Parliament on monetary policy and macroeconomic developments in the first half of 2026. The Governor said the Policy Rate was cut from 18.0 per cent to 14.0 per cent in January and March, then held at 14.0 per cent in May, July and September to preserve stability amid rising global oil prices and domestic price pressures. On growth and inflation, Dr Asiama said real GDP grew by 6.4 per cent in First Quarter 2026, while inflation fell to 3.2 per cent in March, then rose to 5.3 per cent in June, but remained below the 6-10 per cent target band.
