Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has announced that Ghana’s inflation rate has fallen to 9.4 percent, marking the country’s first return to single-digit inflation in four years.
Speaking during a Post-MPC Engagement with Heads of Banks in Accra on October 7, 2025, Dr. Asiama said the achievement reflects the “resilience of the economy” and the Bank’s commitment to sustaining macroeconomic stability.
“Inflation has continued its remarkable downward path, falling to 9.4 percent in September. This marks nine consecutive months of decline and the first return to single digits in four years,” he stated.
Dr. Asiama revealed that the Monetary Policy Committee (MPC) has decided to reduce the policy rate by 350 basis points to 21.5 percent—the third cut in 2025—to sustain growth and encourage lending.
“We are confident that inflation will remain within the target band of 8 ± 2 percent by the end of the year,” he assured.
He added that Ghana’s international reserves now stand at US$10.7 billion, equivalent to 4.5 months of import cover, while the cedi has appreciated by 21 percent year-to-date, ranking among the world’s best-performing currencies.
On the banking sector, the Governor commended financial institutions for maintaining resilience, noting that the Capital Adequacy Ratio has risen to 17.7 percent.
He also announced new supervisory directives to strengthen the sector, including guidelines on liquidity risk management, stress testing, and recovery planning, to align with international best practices.
“The return to single-digit inflation marks a new chapter in Ghana’s recovery, but it’s not the end of the story. We must sustain discipline and ensure stability translates into jobs, affordable credit, and real growth,” Dr. Asiama concluded.
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