Ghana Cuts Interest Rate to 18% Amid Declining Inflation and Economic Improvements

Ghana's central bank, led by Governor Johnson Asiama, has lowered its benchmark interest rate to 18% for the third consecutive time due to a rapid decline in inflation. The move comes as Ghana's inflation rate has dropped significantly, reaching a four-year low of 8%.

The country's fiscal position has improved, supported by a surge in global gold prices and a stronger currency. The government, represented by Finance Minister Cassiel Ato Forson, is committed to fiscal consolidation, projecting a budget surplus and narrowing fiscal deficit.

The economy is expected to grow by at least 4.8% in 2026.