Global advisory firm Deloitte is projecting a possible cut in Ghana’s benchmark interest rate at the Bank of Ghana’s upcoming Monetary Policy Committee (MPC) meeting, citing sustained disinflation, a firming cedi, and improved agricultural performance.
Deloitte says the Bank of Ghana may resume its monetary policy easing cycle at the 125th MPC press briefing, set for July 30, 2025.
This would mark the first policy rate reduction since the Central Bank began its tightening stance in 2021.
The advisory firm points to recent economic trends including; declining inflation, a strengthening cedi, and better-than-expected agricultural output as factors that could support a shift in the policy direction.
The Central Bank’s Monetary Policy Committee is expected to meet on July 28 to assess current economic conditions and determine the policy rate.
The committee’s decision will be officially announced two days later at a scheduled press briefing.
Ghana’s policy rate currently stands at 28 percent as at May 2025, following a series of hikes implemented to combat soaring inflation and currency depreciation over the past three years.
However, with inflation easing steadily in recent months and the cedi showing signs of resilience, market watchers believe conditions may now favour a rate cut.
The expected decision will be closely watched by investors, financial institutions, and businesses, as it could signal a broader shift toward growth-supportive monetary policy in the second half of the year.
