Inflation, cedi pressure put BoG’s MPC under pressure as policy rate decision looms
Rising inflation, renewed pressure on the Ghana cedi and concerns over economic growth are expected to dominate discussions as the Bank of Ghana’s Monetary Policy Committee begins a three-day meeting to review developments in the economy.
The Bank of Ghana's Monetary Policy Committee (MPC) is set to begin a three-day meeting to review the state of the economy and decide on the future of the policy rate. Rising inflation, which hit 5% in August 2026, and concerns over the Ghana cedi's value are key factors expected to shape the discussion. The MPC, meeting from September 23-24, 2026, is weighing whether to increase the policy rate to stem inflationary pressures.
However, a hike could adversely affect businesses struggling to secure credit. The strength of the cedi is another major issue, with some arguing that monetary policy could help stabilize it. The Committee will also consider developments in the Middle East and changes in US interest rates, which may impact Ghana's economy by reducing gold prices and foreign exchange inflows.
The Committee's decision will be a delicate balance between curbing inflation, supporting the cedi, and minimizing negative effects on economic growth and credit accessibility.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
