- The Bank of Ghana's 123rd meeting starts today
- Government aims for 11.9% inflation and 4.4% GDP growth
- Inflation remains high at 23.1%, while Treasury bill rates continue to decline
The Bank of Ghana’s Monetary Policy Committee (MPC) will begin its 123rd meeting today to review economic conditions and take steps to ensure financial stability.
This three-day meeting, the first under the newly appointed Governor, Dr. Johnson Asiamah, will end with a significant policy announcement on Friday, March 28, 2025. The MPC previously set the policy rate at 27% in January 2025, citing ongoing inflationary pressures. However, the Central Bank now faces a more challenging decision, with inflation remaining high and concerns over national debt and other economic issues.
For over two years, inflation has stayed in the low twenties, recording 23.2% in 2023, 23.8% in 2024, and 23.1% as of February 2025. At the same time, Treasury bill rates have been steadily falling, raising concerns about liquidity management and investor confidence in government securities.
With the government aiming for an end-of-year inflation target of 11.9% and a 4.4% overall real GDP growth target, businesses, investors, and economic analysts are closely watching for signals regarding potential interest rate changes and other monetary policy actions that could influence the economic outlook. As the committee meets, the key question remains: Will the Bank of Ghana maintain its cautious approach in light of persistent inflation and global economic uncertainties, or will it shift toward policies that encourage economic growth despite ongoing financial pressures?
