BoG’s Monetary Policy Committee to hold emergency meeting today, July 17
The Bank of Ghana’s Monetary Policy Committee is set to hold an emergency meeting today, July 17, 2025, the central bank has announced.
A notice issued by the bank highlighted that the meeting will focus on evaluating the economic landscape over the past two months. Following this meeting, a policy decision is expected to be announced on Friday, July 20.
The Bank of Ghana’s Policy rate currently stands at 28%, however, there is mounting pressure from businesses and economic analysts pushing for a reduction in this rate, particularly in light of a notable drop in inflation rates since December last year, currently standing at 13.7%.
The Bank of Ghana recently shifted the date for the MPC meeting from Monday, July 28, 2025, to Wednesday, July 30, 2025. Sources close to the central bank indicated that this change was necessary to avoid a clashing with the Finance Ministry’s Mid-Year Budget review, Joy Business reported.
According to Joy Business, initial engagements with MPC members indicate mixed opinions, with some members supporting the idea of a lower policy rate, while others push for maintaining the current rate to better assess ongoing international market trends.
The International Monetary Fund (IMF), in its latest Staff Report, has also recommended some monetary tightening to help stabilize inflation at manageable levels. The Fund also adjusted its end-year inflation target for the country, lowering it from its earlier 12% forecast, to 8%.
See BoG Notice Below:
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