The Bank Ghana (BoG) Monetary Policy Committee (MPC) has maintained the key policy rate at 30 percent, while introducing additional liquidity management measures to address excess liquidity and reinforce the disinflation process.

The Bank of Ghana (BoG) Monetary Policy Committee (MPC) has kept the benchmark policy rate unchanged at 30 percent due to the stability observed in the macroeconomy, as indicated by the recent decline in domestic inflation.

Ghana’s inflation rate increased to 43.1% in July, reaching the highest level in four months due to rising food costs which puts more pressure on the central bank to continue raising interest rates in the coming month. 

In a significant move to combat surging inflation, Ghana’s monetary policy committee has made a decisive decision, voting to increase the country’s benchmark interest rate to a substantial 30%.