The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has announced a firm commitment to reducing inflation to single digits by the end of 2025, aligning with the country’s medium-term economic goals.
Speaking ahead of the opening of the Infuse Economic Forum today, May 15, Dr. Asiama stated, “hoping we get to a single digit by close of 2025,” stressing the central bank’s cautious yet optimistic outlook on inflationary trends.
At a press briefing held at the Bank Square on May 23, Dr. Asiama revealed that the central bank has decided to maintain the policy rate at 28%.
This, he said, is essential to anchor inflation expectations in the face of potential risks in the latter half of the year.
“Despite these positive developments, the committee observed that the current level of inflation remains high relative to the medium-term target,” he noted, pointing to the need for continued policy discipline.
The cedi has appreciated by $21 in recent months, a development the Governor believes is part of a broader trajectory towards macroeconomic stability.
Dr. Asiama expressed confidence that this upward momentum will be sustained, potentially pushing inflation into the single-digit range before the start of 2026.
“The latest forecast points to continued easing of inflationary pressures on the back of tight monetary policy stance, exchange rate stability, and fiscal consolidation,” he explained.
