Bank of Ghana Holds Policy Rate at 14%, Sets Uniform Cash Reserve Ratio at 20%

The Bank of Ghana has left the policy rate unchanged at 14%, and raised the Cash Reserve Ratio (CRR) to 20%.
The Monetary Policy Committee (MPC) of the Bank of Ghana has maintained the monetary policy rate at 14.0%, citing a broadly balanced risk profile for inflation and the economy.

The move, announced after the committee’s 130th MPC meeting , reflects the central bank’s cautious yet progressive path in managing the monetary policy while the world continues to grapple with uncertainties.

The committee highlighted potential spill over impacts of the prevailing geopolitical tensions as one of the concerns of the domestic economy.

In addition to the rate hold, the committee reported a major change in the structure of the dynamic cash reserve ratio, which would be set at a uniform rate of 20% with currency maintained in the domestic currency. The new reserve requirement will come into effect on June 4, 2026.

The next meeting of the MPC is scheduled for 20–22 July 2026, with the policy decision expected to be made on 22 July 2026.