Ghana Holds Policy Rate at 14%: BoG Governor Cites Middle East Crisis as Key Risk for West African Economies
The Bank of Ghana’s decision to hold the policy rate at 14% signals a strategic pause, prioritizing stability over aggressive easing despite domestic pressures. Governor Asiamah explicitly identifies the escalating Middle East crisis as the “elephant in the room,” framing geopolitical risk—not local inflation—as the primary threat to Ghana’s economic outlook. The key takeaway is that external shocks now dictate monetary policy more than internal metrics, forcing a defensive posture to shield the cedi and capital flows. For









