Bank of Ghana Lowers Policy Rate to 15.5% in First 2026 Monetary Move

The Bank of Ghana (BoG) has reduced its Monetary Policy Rate (MPR) from 18% to 15.5%, marking its first policy decision of 2026. The decision was made by a majority vote during the 128th Monetary Policy Committee (MPC) meeting.

Dr. Johnson Asiama, Governor of the central bank, announced the move at a press briefing at Bank Square on Wednesday, January 28.

This latest 250-basis-point cut follows a larger reduction of 350 basis points in November 2025, when the MPR was lowered from 21.5% to 18% in response to easing inflationary pressures.

Governor Asiama explained that the reduction aims to support economic growth while maintaining a cautious approach to price stability. “The committee voted to lower the monetary policy rate by 250 basis points to 15.5%. We will continue to monitor developments closely and take appropriate policy actions as necessary,” he said.

He added that the decision reflects expectations of improved macroeconomic conditions both locally and globally, and reaffirmed the Bank of Ghana’s commitment to a measured, forward-looking approach that balances growth with inflation management.