{
  "id": 9771873,
  "title": "Bank of Ghana maintains policy rate at 14% for third time",
  "url": "https://urgent.news/2026/09/25/bank-of-ghana-maintains-policy-rate-at-14-for-third-time",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-25T12:46:24.000Z",
  "source": {
    "name": "Ghana Business News",
    "slug": "ghana-business-news",
    "url": "https://www.ghanabusinessnews.com/2026/09/25/bank-of-ghana-maintains-policy-rate-at-14-for-third-time/"
  },
  "original_language": "en",
  "account": "The Monetary Policy Committee of the Bank of Ghana (BoG) decided to keep its benchmark monetary policy rate at 14 percent for the third consecutive time in 2026. The decision was made unanimously during the 132nd meeting held in Accra. The Committee's rationale was the presence of balanced risks to both inflation and economic growth. Despite heightened global uncertainty and rising headline inflation, Ghana's macroeconomy has shown improvements. Governor of the Central Bank, Dr Johnson Asiama, noted that global economic activity remained resilient in the first half of the year, driven by strong investment in Artificial Intelligence (AI) and a less severe impact of energy shocks than initially feared. The International Monetary Fund (IMF) projected steady global growth of three percent for 2026, though geopolitical tensions could potentially weaken prospects in the future. The rise in global inflation was primarily due to elevated crude oil prices above $100 per barrel, compounded by uncertainties from expected El Niño conditions and global supply chain constraints. Most central banks have shifted from cautionary measures to modest tightening, including the US Federal Reserve, European Central Bank, and Bank of Japan, which increased their interest rates due to persistent inflation. In Ghana, the economy grew by six percent in real terms in the second quarter of 2026, driven by services and industry. However, this growth was lower than the 6.6 percent recorded in the same period of 2025. Headline inflation climbed to 5 percent in August 2026 from 4.6 percent in July, with non-food inflation reaching 6.8 percent, driven by utility tariff adjustments and high crude oil prices. Food inflation remained relatively low at 3.0 percent. Reserve money grew by 29.7 percent year-on-year, while the broad money supply expanded by 20.4 percent. The 91-day Treasury bill rate declined to 5.4 percent, and average lending rates fell to 15.9 percent. Private sector credit growth rebounded to 35.5 percent, reflecting a 29.0 percent growth in real terms. Provisional data indicated improved revenue mobilization, with a deficit on the commitment basis of GH¢3.5 billion, or 0.2 percent of GDP, against a target of 1.9 percent. The country's primary balance recorded a surplus of 1.4 percent of GDP, and public debt stood at 45.9 percent of GDP. The banking sector remained robust, profitable, and liquid, with total assets up by 20.5 percent and capital adequacy improving to 19.1 percent. Non-performing loans declined to 15.7 percent, though credit risk remains elevated. Ghana's trade surplus expanded to $8.85 billion in August 2026, driven by strong gold, cocoa, and crude oil exports. Imports rose to $13.58 billion due to oil and gas purchases. Gross international reserves stood at $12 billion, covering 4.5 months of imports as of September 22. The BoG will continue to monitor global and domestic developments to ensure stable prices and sustainable economic growth.",
  "summary": "The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has kept its benchmark monetary policy rate unchanged at 14 per cent, marking the third straight time it has held the rate steady this year. The post Bank of Ghana maintains policy rate at 14% for third time appeared first on Ghana Business News .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
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        "url": "https://urgent.news/2026/09/25/your-next-home-could-be-here-third-joynews-republic-bank-habitat",
        "published": "2026-09-25T09:01:18.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}