The Monetary Policy Committee of the Central Bank of The Gambia left the Monetary Policy Rate unchanged at 14 percent, judging that resilient economic activity and a recent rise in headline and core inflation amid higher global energy costs call for a steady stance while it works to return inflation to target. Having cut the rate by 200 bp in February 2026, the Committee again held the required-reserve ratio at 13 percent and kept the standing deposit and lending facility rates at 5 percent and 15 percent, respectively. Headline inflation picked up to 7.0 percent in April from 6.6 percent in December, with core measures climbing above 6 percent, while the Bank now projects real GDP growth to slow slightly to 5.7 percent in 2026; money supply growth accelerated to 23.2 percent and private-sector credit expanded by 35.4 percent in the first quarter. Externally, the current-account deficit widened to USD 20.8 mn (0.8 percent of GDP) in Q1 as imports surged, though the dalasi stayed broadly stable and reserves stood at USD 556.5 mn, covering 4.3 months of imports. The MPC noted that global growth is expected to ease to 3.1 percent and that elevated oil prices and geopolitical tensions have tilted inflation risks upward. It reiterated readiness to act if needed to ensure inflation converges to its medium-term objective.
Central Bank of the Gambia2026-05-21
Central Bank of The Gambia leaves Monetary Policy Rate unchanged at 14%
The Central Bank of The Gambia’s Monetary Policy Committee kept the policy rate at 14%, the reserve requirement at 13% and the 5–15% standing facility corridor intact, saying resilient activity and a rise in headline inflation to 7.0% in April warrant a steady stance. It projects 2026 growth at 5.7%, flagged strong money and credit expansion and a wider current-account deficit, and reiterated readiness to tighten if inflation pressures intensify.