FX.co ★ Ghana Delivers Another Steep Cut to Policy Rate

The Bank of Ghana reduced its primary monetary policy rate by 350 basis points, bringing it down to 18% on November 26, 2025. This marks the third consecutive rate cut prompted by policymakers due to an enhanced macroeconomic outlook and the anticipation of continued deceleration in inflation rates. Notably, Ghana's annual inflation rate fell to an over four-year low of 8% in October 2025, recording the tenth successive period of price growth deceleration and aligning with the central bank’s target range of 6% to 10%. According to Governor Johnson Asiama, "Inflation has eased more swiftly than anticipated and is projected to land between 4% and 6% by the end of the year, stabilizing within the target band by 2026."