BoG’s MPC begins 124th Meeting amid Cedi gains and inflation concerns

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) will meet today. This is their 124th meeting. They will review recent macroeconomic developments and assess the economic outlook.

This meeting is important due to recent gains by the Ghana Cedi against the US dollar. It also comes amid ongoing efforts to control inflation. At their last meeting, the MPC raised the monetary policy rate by 100 basis points to 28 percent.

Dr. Johnson Asiama, Governor of BoG, stated this increase was necessary. He said it aimed to “re-anchor the inflation-moderating process.” The goal is to keep inflation on a downward path.

Some market watchers expect the BoG to maintain the policy rate at 28%. Any potential cuts will depend on continued disinflation trends. Databank Research believes the MPC will take a wait-and-see approach.

They will monitor the effects of previous policy tightening. Databank projects inflation may settle between 17–19% by mid-year. This projection relies on stable prices and base effects, assuming no major shocks occur.

With signs of currency stability and changing global conditions, many are watching closely. The MPC’s decision on the policy rate affects lending costs and investor confidence.

The meeting will conclude with a press briefing on Monday, May 26, 2025. This briefing will clarify the central bank’s monetary stance and future measures for economic stability.