Dr Asiama details how BoG responded to inflation risks amid rising global oil prices

Bank of Ghana Governor Dr Johnson Pandit Asiama said the Monetary Policy Committee kept the policy rate at 14% in May 2026. Earlier in the year, the committee had cut the rate as inflation declined and economic conditions improved. Rising global oil prices triggered by the conflict in the Middle East prompted the May decision to hold the rate to guard against inflationary pressures.