{"id":174504,"date":"2025-09-22T18:31:17","date_gmt":"2025-09-22T18:31:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/174504\/"},"modified":"2025-09-22T18:31:17","modified_gmt":"2025-09-22T18:31:17","slug":"ghana-to-hit-single-digit-inflation-earlier-than-expected","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/174504\/","title":{"rendered":"Ghana to hit single-digit inflation earlier than expected"},"content":{"rendered":"

\"Ghana's <\/a>Ghana’s inflation currently stands at 12.5%<\/p>\n

The Bank of Ghana (BoG) has projected that the country\u2019s inflation rate could fall to single digits by the close of 2025, earlier than initially expected.<\/p>\n

According to the Central Bank, the outlook is supported by ongoing monetary tightening, fiscal consolidation, and improvements in food supplies, all of which have helped accelerate the pace of disinflation.<\/p>\n

\u201cWe have seen a rapid disinflation over the past months, and we expect that to be sustained going forward,\u201d Dr Philip Abradu-Otoo said as quoted by myjoyonline.com.<\/p>\n

At the beginning of the year, the BoG had anticipated achieving single-digit inflation in the first quarter of 2026. <\/p>\n

Lending rates to drop in October after policy rate cut – BoG<\/a> <\/p>\n

However, Dr Abradu-Otoo explained that current economic developments have enabled the Central Bank to bring the target forward to the final quarter of 2025.<\/p>\n

He also highlighted that the improved inflation outlook influenced the Monetary Policy Committee\u2019s recent decision to cut its key lending rate by 350 basis points to 21.5%.<\/p>\n

Dr Abradu-Otoo assured that the BoG is committed to maintaining monetary stability, stressing that policy consistency and strong reserve accumulation will remain priorities.<\/p>\n

\u201cThe Bank of Ghana will definitely continue with what we are doing to ensure that things do not get out of hand,\u201d he said.<\/p>\n

Responding to concerns about the scale of the policy rate cut, he clarified that while all committee members agreed on the need for a reduction, the final margin was determined through a vote.<\/p>\n

\u201cThe decision was unanimous in terms of the need for the policy to be cut; however, the margin was based on a vote,\u201d he explained.<\/p>\n

SSD\/AE<\/p>\n

Watch the latest edition of BizTech below:<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Ghana’s inflation currently stands at 12.5% The Bank of Ghana (BoG) has projected that the country\u2019s inflation rate…\n","protected":false},"author":2,"featured_media":62946,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-174504","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/174504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=174504"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/174504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/62946"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=174504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=174504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=174504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}