The Bank of Ghana (BoG) has maintained its monetary policy rate at 14 percent, extending the rate hold to a third consecutive meeting.

The decision was announced by the Governor and Chairman of the Monetary Policy Committee (MPC), Dr Johnson Pandit Asiama, at a press conference in Accra on Thursday, September 24, 2026, following the 132nd MPC meeting.

The MPC unanimously decided to keep the policy rate unchanged as the central bank continues to assess developments in inflation, credit conditions and the broader economy.

Dr Asiama said headline inflation stood at 5 percent in August 2026, well below the lower bound of the Bank’s 8±2 percent target band.

He said that despite domestic cost pressures in areas such as housing, transport and services, exchange rate stability had helped contain imported inflation.

The BoG Governor further pointed out that the average banking lending rate had declined by 15.9 percent, while private sector credit growth had rebounded.

He also said the banking sector remained solvent, profitable and liquid, with the Non-Performing Loan (NPL) ratio declining to 15.7 percent.

However, the Governor noted that heightened global tensions had constrained supply chains, while the MPC observed continued resilience in domestic economic activity.

Meanwhile, the central bank’s policy rate has remained at 14 percent since March 2026, when the MPC cut it to its lowest level since October 2021.

MA