FX.co ★ Ghana's Prime Interest Rate Rises to 28% Amid Ongoing Economic Pressures

In a significant policy shift aimed at addressing economic challenges, Ghana's central bank has increased the prime interest rate to 28% as of March 2025. This marks a 1% rise from the previous month's rate, which stood at 27%, signaling continued efforts to curb inflation and stabilize the national currency.

The adjustment in the prime interest rate comes as Ghana navigates through persistent economic hurdles, including inflationary pressures and fluctuating commodity prices. The central bank's decision to raise the rate reflects its strategy to tighten monetary policy in hopes of maintaining financial stability and reinforcing investor confidence in the country's economic prospects.

Such a sharp increase in the interest rate within a month underscores the urgency of the central bank's approach to counter the mounting challenges. As businesses and consumers adapt to this new rate, all eyes will be on the subsequent economic indicators to gauge the effectiveness of this monetary policy adjustment in anchoring economic stability.