GHDatafie blog

Ghana's monetary policy rate stays at 14.0 percent in September 2026

GHDatafie, 22 October 2026

The Bank of Ghana's monetary policy rate was 14.0 percent in September 2026, according to the Bank of Ghana. That is the same figure as in July 2026 and, by GHDatafie's calculation, 7.50 percentage points lower than in September 2025, when it was 21.50 percent.

Ghana's monetary policy rate was 14.0 percent in September 2026, according to the Bank of Ghana (BoG). The figure comes from the press release of the Bank's Monetary Policy Committee, published on 24 September 2026, and is flagged as final. It is quoted exactly as the Bank printed it.

The policy rate is the interest rate the Bank of Ghana sets at Monetary Policy Committee meetings. It is stated in percent per year. In plain terms, it is the central bank's headline interest rate, and the Bank publishes it in the money market rates table of its Monthly Statistical Bulletin.

How September compares

The September figure matches the one for July 2026, which was also 14.0 percent. July is the most recent earlier month in the figures shown. The rate has stayed at that level since March 2026, when the bulletin recorded it as 14.00 percent. So the September meeting left the rate where it already was.

A year earlier the picture was different. In September 2025 the policy rate was 21.50 percent. GHDatafie calculated that the September 2026 figure is 7.50 percentage points lower. A percentage point is the plain gap between two rates, so a move from 21.50 percent to 14.0 percent is a fall of 7.50 points.

Over a longer stretch, the highest rate in the figures shown is 30.00 percent, recorded from July to December 2023. Since then the rate has fallen in several steps, with a short rise in early 2025. The chart above shows every month, and you can hover over it to see each value.

The figures say what the rate was. They do not say why the committee made each decision, and the Bank's own press releases are the place to read its reasons.

A note on how the figures are recorded

For a month with a committee meeting, GHDatafie first takes the rate from the press release on decision day, as printed. The bulletin's figure for that month follows later, and if it differs, GHDatafie keeps it as a revision. Months without a meeting come from the bulletin only. That is why some recent months, such as August 2026, are not yet among the figures shown. All figures are as published and may be revised.

You can see the full monthly record, which begins in January 2015, on the monetary policy rate page. Other new publications are listed on the releases page.

Where the figures come from

The figures are from the Bank of Ghana (BoG): the Monetary Policy Committee press releases and Table 11 (Money Market Rates) of the BoG Monthly Statistical Bulletin, at bog.gov.gh. They are compiled by GHDatafie, which is independent of and not endorsed by the Bank of Ghana. See the monetary policy rate series page for every value.

Questions people ask

What is Ghana's policy rate now?

The Bank of Ghana's monetary policy rate was 14.0 percent in September 2026, according to the Bank of Ghana. The figure is flagged as final and was published on 24 September 2026.

Did the Bank of Ghana change the policy rate in September 2026?

No. The rate was 14.0 percent in September 2026, the same as in July 2026, according to the Bank of Ghana.

How does the policy rate compare with a year ago?

In September 2025 the rate was 21.50 percent. GHDatafie calculated that the September 2026 rate of 14.0 percent is 7.50 percentage points lower.

What is the monetary policy rate?

It is the interest rate set by the Bank of Ghana's Monetary Policy Committee, stated in percent per year. The Bank publishes it in its committee press releases and in the money market rates table of its Monthly Statistical Bulletin.

Where can I see past Bank of Ghana policy rates?

GHDatafie's monetary policy rate series page shows the monthly figures as published by the Bank of Ghana, with records starting in January 2015. Figures are as published and may be revised.

Figures in this article

• Monetary policy rate: Source: Bank of Ghana (BoG), bog.gov.gh. Figures as published by BoG; compiled by GHDatafie, which is independent of and not endorsed by BoG.

Changes and everyday examples are calculated by GHDatafie from the published figures. GHDatafie is independent and is not part of, or endorsed by, the publishers it quotes.