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Ghana Interest Rate

Ghana's interest rate in September 2025 is 21.5%. This is a three-week low and down from 25% in July 2025. Inflation fell to 11.5% year-on-year in August, contributing to the rate decrease. The Bank of Ghana also factored in expected fiscal consolidation. Ghana's record low interest rate was 13.5% in July 2021 and record high was 30% in July 2023.

Historical Data (2015-2025)

(in %)
Date Interest Rate
Sep 17, 2025 21.5%
Jul 25, 2025 25%
May 23, 2025 28%
Mar 28, 2025 28%
Jan 24, 2025 27%
Nov 25, 2024 27%
Aug 31, 2024 29%
Jul 26, 2024 29%
May 27, 2024 29%
Mar 25, 2024 29%
Jan 29, 2024 29%
Dec 29, 2023 30%
Nov 27, 2023 30%
Sep 29, 2023 30%
Jul 24, 2023 30%
May 22, 2023 29.5%
Mar 27, 2023 29.5%
Jan 30, 2023 28%
Nov 28, 2022 27%
Oct 06, 2022 24.5%
Aug 17, 2022 22%
Jun 30, 2022 19%
May 23, 2022 19%
Mar 21, 2022 17%
Dec 31, 2021 14.5%
Nov 22, 2021 14.5%
Aug 31, 2021 13.5%
Jul 30, 2021 13.5%
Mar 31, 2021 14.5%
Feb 26, 2021 14.5%
Oct 30, 2020 14.5%
Jun 30, 2020 14.5%
May 29, 2020 14.5%
Mar 31, 2020 14.5%
Feb 28, 2020 16%
Dec 31, 2019 16%
Nov 29, 2019 16%
Aug 30, 2019 16%
Jun 28, 2019 16%
Apr 30, 2019 16%
Mar 29, 2019 16%
Oct 31, 2018 17%
Sep 28, 2018 17%
Jul 31, 2018 17%
Jun 29, 2018 17%
Mar 30, 2018 18%
Jan 31, 2018 20%
Dec 29, 2017 20%
Oct 31, 2017 21%
Sep 29, 2017 21%
May 31, 2017 22.5%
Apr 28, 2017 23.5%
Jan 31, 2017 25.5%
Dec 30, 2016 25.5%
Aug 31, 2016 26%
Jul 29, 2016 26%
May 31, 2016 26%
Apr 29, 2016 26%
Jan 29, 2016 26%
Oct 30, 2015 25%

Recent Events

datetime event actual previous consensus
2025-09-17 12:00 PM Interest Rate Decision 21.5% 25% -

Next Release Date :

Ghana Interest Rate : Definition
The Interest Rate set by the Bank of Ghana is the benchmark cost of borrowing in the economy. It influences lending, spending, investment, inflation, and overall financial stability.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio 4.4% 1.4% Dec'24
Debt to GDP Ratio 70.5% 76.4% Dec'24
Private Credit (% GDP) 9.45% 13.29% 2023