In remarks during a courtesy visit by His Majesty Otumfuo Osei Tutu II, the Bank of Ghana’s Governor outlined a 2025 macroeconomic improvement marked by sharp disinflation, a stepwise easing of the monetary policy stance, rebuilt external buffers and a stronger year-end exchange rate position for the cedi, while stressing that exchange rate stability must be sustained by underlying economic discipline. Inflation fell from 23.8% in December 2024 to 8.0% in October 2025, 6.3% in November 2025 and 5.4% in December 2025, which the Governor linked to monetary discipline, improved food supply conditions and closer coordination with the Ministry of Finance. As inflation pressures eased, the Monetary Policy Rate was reduced in steps from 27.0% to 18.0% by November 2025, with market rates also easing. Gross international reserves rose to about USD 13.83 billion by end-December 2025, providing close to six months of import cover. On the cedi, the Governor cited a year-end level of about GHS 10.67 per USD, which he noted was referenced by Forbes as placing the currency among stronger performers on the African continent, attributing the outcome to improved fundamentals including stronger reserves and lower inflation. He cautioned against treating this as permanent, arguing that sustaining exchange rate stability depends on fiscal restraint and a more productive and competitive real economy, including a shift toward exports over imports.

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