We maintained policy rate at 14% to balance inflation control, economic growth – Dr. Asiama

The Bank of Ghana (BoG) has maintained its Monetary Policy Rate at 14 percent, saying the decision is aimed at preserving price stability while creating the right conditions for businesses to invest, expand, and support sustained economic growth.

The decision was announced by the Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, during a stakeholder engagement with members of the business community in Sunyani.

The engagement formed part of the central bank’s efforts to engage businesses, financial institutions, and other stakeholders on the state of the economy and the bank’s policy direction.

According to Dr. Asiama, the Monetary Policy Committee (MPC), arrived at the decision after assessing recent developments in both the domestic and global economy.

He acknowledged that the global economy continues to face uncertainty, particularly due to the conflict in the Middle East and rising crude oil prices, but stressed that Ghana’s economy has continued to demonstrate resilience despite the external pressures.

“After carefully assessing our economic situation, the Committee decided to maintain the Monetary Policy Rate at 14.0 percent.”

The Governor explained that keeping the policy rate unchanged would enable the central bank to contain inflation while ensuring that businesses continue to have the confidence to invest and expand.

He added that the decision also provides the flexibility needed to respond swiftly to changes in the global economic environment should conditions deteriorate.

“We took this decision because we believe it is the right balance. It will help keep inflation under control while supporting businesses, investment and economic growth. At the same time, it gives us the flexibility to respond to changes in the global economy if necessary.”

Dr. Asiama reiterated that the Bank of Ghana remains committed to pursuing policies that safeguard macroeconomic stability while supporting sustainable economic growth.

He noted that the central bank will continue to monitor both domestic and international economic developments and take appropriate measures to maintain a stable environment for businesses, investors and households.