Ghana’s policy rate of 27% highest in Africa – World Bank

Ghana’s monetary policy rate of 27.0% is currently the highest in Africa, according to the World Bank's October 2024 Africa Pulse Report.

The Bank of Ghana and other central banks have maintained high rates to control inflation and stabilize currencies.

Countries with double-digit inflation and weak currencies like Angola and Nigeria are expected to keep rates elevated.

Although inflation is easing in some areas, rate cuts may be delayed due to price stickiness and economic pressures. In September 2024, Ghana reduced its policy rate by 200 basis points to 27.0%.