The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has signalled a potential shift in monetary policy, suggesting that the central bank may begin “easing” interest rates following a stellar economic performance at the end of 2025.
Speaking at the 128th Monetary Policy Committee (MPC) Meeting on January 26, 2026, the first of 2026, Dr. Johnson Asiama emphasized that inflation declined to 5.4% at the end of 2025, marking one of its lowest levels in recent years.
He noted that rapid disinflation gives the bank “policy space” to support economic growth.
The Governor indicated that Ghana’s international reserves have surged to US$13.8 billion, which is equivalent to 5.7 months of import cover.
Additionally, he said the Cedi has remained “remarkably stable” throughout 2025, a success he attributed to a current account surplus of 8.1% of GDP.
Dr. Asiama credited the Bank’s Domestic Gold Purchase Programme as a critical pillar in ensuring these results.
However, he noted that these improved conditions “remind us that the work has only begun and that more effort is needed to lock in stability.”
“I must say that this will test our monetary policy in 2026,” Dr. Johson Asiama signalled.
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