Ghana interest rate
Bank of Ghana
- Policy rate
- 14.00%
- Jul 2026
- Last move
- −1.50 pt
- Mar 2026
- Inflation
- 4.6%
- Jul 2026
- 10-year bond yield
- 29.85%
- Jul 2026
The policy rate set by the Bank of Ghana is 14.00% as of Jul 2026. Its most recent move: it cut its rate from 15.50% to 14.00% (Mar 2026). The rate is 7.50 percentage points lower than a year earlier. With consumer prices up 4.6% over the 12 months to Jul 2026, the real rate (policy rate minus inflation) is +9.4%: borrowing costs are above inflation.
Policy rate over the past two years
Jul 2026: 14.00%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| Mar 2026 | Cut | 15.50% | 14.00% | −1.50 pt |
| Jan 2026 | Cut | 18.00% | 15.50% | −2.50 pt |
| Nov 2025 | Cut | 21.50% | 18.00% | −3.50 pt |
| Sep 2025 | Cut | 25.00% | 21.50% | −3.50 pt |
| Jul 2025 | Cut | 28.00% | 25.00% | −3.00 pt |
| Jun 2025 | Hike | 27.00% | 28.00% | +1.00 pt |
| Sep 2024 | Cut | 29.00% | 27.00% | −2.00 pt |
Changes between month-end rates. Two decisions in one month show up as a single change.
Inflation (% vs a year earlier)
Jul 2026: 4.6%
10-year government bond yield
Jul 2026: 29.85%
Other central banks in Africa
Source: IMF monetary statistics; inflation: IMF CPI; bond yield: IMF monetary statistics. Updated daily. All central bank rates · Ghana economy dashboard