The Bank of Ghana published a Monetary Policy Committee (MPC) briefing from its 128th regular meeting held 26–28 January 2026, reviewing recent economic developments and the balance of risks to the inflation and growth outlook ahead of its decision on the Monetary Policy Rate. The Committee noted that global growth was more resilient than expected in 2025, supported by fiscal stimulus in some countries, rising real wages as price pressures declined, and increased Artificial Intelligence-related investment, particularly in the US and Asia; the International Monetary Fund projects global growth to remain steady at 3.3 percent in 2026. Global headline inflation was described as gradually moving towards central bank targets, reflecting lower oil and food prices, declining underlying inflation, and anchored inflation expectations, alongside an easing in global financing conditions in advanced and emerging markets amid expectations of policy easing, increased risk appetite and a weaker US dollar, developments the MPC viewed as supportive for Ghana’s domestic economy. On the domestic front, it observed that the growth recovery gained momentum over the year.
Bank of Ghana 2026-01-28
Bank of Ghana assesses inflation and growth risks at its 128th Monetary Policy Committee meeting
The Bank of Ghana's Monetary Policy Committee reviewed recent economic developments and risks to inflation and growth during its 128th meeting, noting resilient global growth supported by fiscal stimulus and AI investment, with global inflation moving towards central bank targets. The Committee highlighted easing global financing conditions and a growth recovery in Ghana's domestic economy.