UK-based research firm, Fitch Solutions, is projecting a further drop in Ghana's policy rate to 16.5% by the end of 2026.

According to the Assistant Director at Fitch Solutions, Mike Kruiniger, this projection is supported by continued currency stability and a drop in inflationary pressures.

He said Ghana's strong macroeconomic environment provides the space for further monetary easing in the year to come.

Speaking at the 2026 PricewaterhouseCoopers (PwC) Post-Budget Forum in Accra, Kruiniger noted that with inflation now back within the central bank’s target, the benchmark policy rate could gradually reduce to 16.50% by the end of 2026.

He added that the BoG has already initiated an aggressive easing cycle.

“While monetary transmission takes time, we anticipate a clear pickup in private-sector credit demand over the coming quarters, following nearly three years of weakness. Rates have remained elevated, but the Bank of Ghana launched a decisive easing cycle this summer, cutting by 650 basis points so far, the fastest monetary easing cycle globally this year,” he said.

Fitch revises Ghana's growth projection to 4.9%

Meanwhile, Fitch Solutions has predicted robust economic growth for Ghana in 2026, projecting that the country will outperform many of its emerging-market peers.

The UK-based research firm attributes this outlook to Ghana’s solid macroeconomic performance in 2025 and expects the momentum to extend into 2026.

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