MPC Decision Statement: BoG commits to transparency amid interest rate hike

The Monetary Policy Committee (MPC) of the Bank of Ghana recently raised its policy rate by 100 basis points from 27% to 28% in an effort to curb inflation.

At his first MPC press conference, Bank of Ghana Governor Dr. Johnson Asiama attributed the decision to ongoing economic uncertainties driven by external factors and rising inflationary pressures.

"As inflation becomes firmly anchored, the Committee will reassess the scope for a gradual easing in the policy stance," Dr. Asiama stated at a press conference on March 28, 2025.

Although headline inflation has declined slightly, the Governor stressed that it remains a major concern.

He highlighted that both food and non-food inflation have exceeded expectations, while core inflation remains elevated.

The decision to hike the policy rate was made by a narrow 3-2 vote among MPC members.

Dr. Asiama also reaffirmed the Bank of Ghana’s commitment to transparency, stating that all future policy decisions will be publicly disclosed to strengthen trust between the central bank and the public.

See the MPC Decision statement below:



MA