FX.co ★ Ghana Lifts Key Policy Rate to 28%

The Bank of Ghana has increased its key monetary policy rate by 100 basis points, taking it to 28%, as of March 28th. This decision follows three consecutive meetings where the rate remained unchanged. The central bank reported that this action was unanimous, prompted by worries regarding future inflation trends. In February 2025, Ghana saw its annual consumer inflation reduce for the second consecutive month to 23.1%, yet it continues to exceed the Bank of Ghana's target range of 8%, which has a tolerance band of 6% to 10%.