The Bank of Ghana (BoG) has kept its benchmark monetary policy rate unchanged at 28%, signaling a cautious approach in the face of persistent inflationary pressures, despite recent gains in currency stability and broader macroeconomic improvements.

The decision was announced on Friday, May 23, 2025, at the conclusion of the central bank’s Monetary Policy Committee (MPC) meeting.

Speaking to the media at the Bank of Ghana's headquarters, Governor Dr. Johnson Asiama explained that the move is aimed at further anchoring inflation expectations, amid concerns that price pressures may resurface in the second half of the year.

“While we have seen progress in key indicators, the inflation outlook remains uncertain. Maintaining the current policy rate is essential to consolidate recent macroeconomic gains and preserve stability,” Dr. Asiama stated.

Many industry stakeholders and private sector players had expressed hope for a modest rate cut to ease borrowing costs and stimulate growth.

However, the BoG maintains that a tight monetary policy stance is necessary to guard against potential risks and ensure sustained economic recovery.