Fitch Solutions Keeps Ghana Policy Rate Forecast at 14% Through 2026
Fitch Solutions projects Ghana’s policy rate to remain at 14.00% through December 2026.
In Brief
- •Fitch Solutions projects Ghana’s policy rate to remain at 14.00% through December 2026.
- •The Bank of Ghana is expected to raise the rate by 200 basis points to 16.00% in 2027.
- •Inflation is projected to rise to 6.8% by year‑end 2026 and average 11.3% in 2027.
- •The Monetary Policy Committee is likely to hold the rate steady at its November 2026 meeting.
- •Energy costs and a weakening cedi are driving the inflation trend upward.
Why It Matters
The forecast signals that Ghana’s monetary policy will stay tight through 2026, reflecting the central bank’s focus on containing inflation that has been rising from 3.2% in March to 5.0% in August. A steady policy rate supports stability in borrowing costs for businesses and households, while the planned 2027 hike aims to counter the projected jump in inflation. Investors and lenders will monitor these expectations as they influence credit conditions and the cost of capital in the Ghanaian economy.
Key Details
- Policy Rate Forecast (2026)
- 14.00%
- Policy Rate (2027)
- 16.00%
- Inflation (2026) Avg.
- 4.0%
- Inflation (2026) Aug.
- 5.0%
- Inflation (2027) Forecast
- 11.3%
- MPC Meeting
- November 2026
Original Reporting & Sources
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