The Bank of Ghana raised its benchmark monetary policy rate by 300 bps to 22% at an emergency meeting on August 17th, the largest rate ever and bringing borrowing costs to the highest since June 2017. Three weeks earlier the central bank kept the rate at 19% saying it was appropriate to pause and observe the impact of the recent monetary policy measures already taken. However, Ghana's cedi currency continued to break record lows and updated figures showed inflation accelerated to 31.7% in July, the highest since 2003 and above market expectations. source: Bank of Ghana
Interest Rate in Ghana averaged 18.69 percent from 2000 until 2022, reaching an all time high of 27.50 percent in March of 2003 and a record low of 12.50 percent in December of 2006. This page provides - Ghana Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ghana Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Interest Rate in Ghana is expected to be 22.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ghana Interest Rate is projected to trend around 23.50 percent in 2023 and 18.00 percent in 2024, according to our econometric models.