Key information about Ghana Policy Rate

• Ghana cash rate (Policy Rate: Month End: Ghana) was set at 29.50 % pa in May 2023, compared with 29.50 % pa in the previous Apr 2023.
• Ghana Policy Rate averaged 16.50 % pa and is updated monthly, available from Nov 2002 to May 2023.
• The data reached an all-time high of 29.50 % pa in May 2023 and a record low of 12.50 % pa in Jan 2012.

CEIC calculates monthly Policy Rate from daily Monetary Policy Rate. The Bank of Ghana provides daily Monetary Policy Rate.


Related information about Ghana Policy Rate

• In the latest reports, Ghana Short Term Interest Rate: Month Avg: Ghana: Treasury Bills Rate: 91 Days was reported at 19.67 % pa in Apr 2023.
• Its Long Term Interest Rate (Long Term Interest Rate: Month Avg: Ghana: Government Bond Yield: 10 Years) was reported at 29.85 % pa in Dec 2022.
• Ghana Exchange Rate against USD averaged 10.92 (USD/GHS) in May 2023.
• Its Real Effective Exchange Rate was 74.57 in Apr 2023.

The benchmark interest rate in Ghana was last recorded at 21.50 percent. This dataset provides - Ghana Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Policy Rate: Month End: Bank of Ghana data was reported at 17.000 % pa in Nov 2018. This stayed constant from the previous number of 17.000 % pa for Oct 2018. Policy Rate: Month End: Bank of Ghana data is updated monthly, averaging 17.000 % pa from Nov 2002 (Median) to Nov 2018, with 193 observations. The data reached an all-time high of 27.500 % pa in Jun 2003 and a record low of 12.500 % pa in Jan 2012. Policy Rate: Month End: Bank of Ghana data remains active status in CEIC and is reported by Bank of Ghana. The data is categorized under Global Database’s Ghana – Table GH.M001: Monetary Policy Rate.

Policy Rate: Bank of Ghana: Annual data was reported at 20.000 % pa in 2017. This records a decrease from the previous number of 25.500 % pa for 2016. Policy Rate: Bank of Ghana: Annual data is updated yearly, averaging 17.500 % pa from Dec 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 26.000 % pa in 2015 and a record low of 12.500 % pa in 2011. Policy Rate: Bank of Ghana: Annual data remains active status in CEIC and is reported by Bank of Ghana. The data is categorized under Global Database’s Ghana – Table GH.M001: Monetary Policy Rate.

Ghana GH: Central Bank Policy Rate: End of Period data was reported at 20.000 % pa in 2017. This records a decrease from the previous number of 25.500 % pa for 2016. Ghana GH: Central Bank Policy Rate: End of Period data is updated yearly, averaging 17.500 % pa from Dec 1964 (Median) to 2017, with 54 observations. The data reached an all-time high of 45.000 % pa in 1997 and a record low of 4.500 % pa in 1965. Ghana GH: Central Bank Policy Rate: End of Period data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Ghana – Table GH.IMF.IFS: Money Market and Policy Rates: Annual.

This dataset provides values for INTEREST RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Key information about Ghana Long Term Interest Rate

• Ghana Long Term Interest Rate: Month Avg: Ghana: Government Bond Yield: 10 Years was reported at 29.85 % pa in Nov 2024, compared with 29.85 % pa in the previous month.
• Ghana Long Term Interest Rate data is updated monthly, available from Sep 2004 to Nov 2024.
• The data reached an all-time high of 29.85 % pa in Nov 2024 and a record low of 12.08 % pa in Feb 2008.
• Long Term Interest Rate is reported by reported by CEIC Data.

The International Monetary Fund provides monthly 10 Year Government Bond Yield.


Related information about Ghana Long Term Interest Rate

• In the latest reports, Ghana Short Term Interest Rate: Month Avg: Ghana: Treasury Bills Rate: 91 Days was reported at 25.80 % pa in Oct 2024.
• The cash rate (Policy Rate: Month End: Ghana) was set at 29.50 % pa in Jun 2023.
• Ghana Exchange Rate against USD averaged 14.78 (USD/GHS) in Dec 2024.

Deposit interest rate of Ghana dropped by 5.27% from 12.05 % in 2022 to 11.42 % in 2023. Since the 7.83% jump in 2017, deposit interest rate plummeted by 18.81% in 2023. Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits.

In 2021, the inflation rate in Ghana amounted to about 9.98 percent compared to the previous year. Ghana’s inflation peaked at almost 17.5 percent in 2016 and is predicted to decrease to 8 percent by 2030. Steady is best for inflationAccording to economists, a steady inflation rate between two and three percent is desirable to achieve a stable economy in a country. Inflation is the increase in the price level of consumer goods and services over a certain time period. A high inflation rate is often caused by excessive money supply and can turn into hyperinflation, i.e. if inflation occurs too quickly and rapidly, it can devalue currency and cause a recession and even economic collapse. This scenario is currently taking place in Venezuela , for example. The opposite of inflation, the decrease in the price level of goods and services below zero percent, is called deflation. While hyperinflation devalues money, deflation usually increases its value. Both events can damage an economy severely. Is Ghana’s economy at risk?Ghana’s economy is considered quite stable and fast-growing, and is rich in oil, diamonds, and gold. After struggling in the years around 2015 due to increased government spending and plummeting oil prices, it is now on an upswing again. This is also reflected in the decreasing inflation rate, and other key indicators like unemployment and rapid GDP growth support this theory. However, Ghana’s government debt is still struggling with the consequences of the 2015 crisis and forecast to keep skyrocketing during the next few years.

Abstract

The fourth edition of the Global Findex offers a lens into how people accessed and used financial services during the COVID-19 pandemic, when mobility restrictions and health policies drove increased demand for digital services of all kinds.

The Global Findex is the world's most comprehensive database on financial inclusion. It is also the only global demand-side data source allowing for global and regional cross-country analysis to provide a rigorous and multidimensional picture of how adults save, borrow, make payments, and manage financial risks. Global Findex 2021 data were collected from national representative surveys of about 128,000 adults in more than 120 economies. The latest edition follows the 2011, 2014, and 2017 editions, and it includes a number of new series measuring financial health and resilience and contains more granular data on digital payment adoption, including merchant and government payments.

The Global Findex is an indispensable resource for financial service practitioners, policy makers, researchers, and development professionals.

Geographic coverage

Localities with less than 100 inhabitants were excluded from the sample. The excluded areas represent approximately 4 percent of the total population

Analysis unit

Individual

Kind of data

Observation data/ratings [obs]

Sampling procedure

In most developing economies, Global Findex data have traditionally been collected through face-to-face interviews. Surveys are conducted face-to-face in economies where telephone coverage represents less than 80 percent of the population or where in-person surveying is the customary methodology. However, because of ongoing COVID-19 related mobility restrictions, face-to-face interviewing was not possible in some of these economies in 2021. Phone-based surveys were therefore conducted in 67 economies that had been surveyed face-to-face in 2017. These 67 economies were selected for inclusion based on population size, phone penetration rate, COVID-19 infection rates, and the feasibility of executing phone-based methods where Gallup would otherwise conduct face-to-face data collection, while complying with all government-issued guidance throughout the interviewing process. Gallup takes both mobile phone and landline ownership into consideration. According to Gallup World Poll 2019 data, when face-to-face surveys were last carried out in these economies, at least 80 percent of adults in almost all of them reported mobile phone ownership. All samples are probability-based and nationally representative of the resident adult population. Phone surveys were not a viable option in 17 economies that had been part of previous Global Findex surveys, however, because of low mobile phone ownership and surveying restrictions. Data for these economies will be collected in 2022 and released in 2023.

In economies where face-to-face surveys are conducted, the first stage of sampling is the identification of primary sampling units. These units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. To increase the probability of contact and completion, attempts are made at different times of the day and, where possible, on different days. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used. Respondents are randomly selected within the selected households. Each eligible household member is listed, and the hand-held survey device randomly selects the household member to be interviewed. For paper surveys, the Kish grid method is used to select the respondent. In economies where cultural restrictions dictate gender matching, respondents are randomly selected from among all eligible adults of the interviewer's gender.

In traditionally phone-based economies, respondent selection follows the same procedure as in previous years, using random digit dialing or a nationally representative list of phone numbers. In most economies where mobile phone and landline penetration is high, a dual sampling frame is used.

The same respondent selection procedure is applied to the new phone-based economies. Dual frame (landline and mobile phone) random digital dialing is used where landline presence and use are 20 percent or higher based on historical Gallup estimates. Mobile phone random digital dialing is used in economies with limited to no landline presence (less than 20 percent).

For landline respondents in economies where mobile phone or landline penetration is 80 percent or higher, random selection of respondents is achieved by using either the latest birthday or household enumeration method. For mobile phone respondents in these economies or in economies where mobile phone or landline penetration is less than 80 percent, no further selection is performed. At least three attempts are made to reach a person in each household, spread over different days and times of day.

Sample size for Ghana is 1000.

Mode of data collection

Face-to-face [f2f]

Research instrument

Questionnaires are available on the website.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar. 2022. The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. Washington, DC: World Bank.

Ghana GH: Money Market Rate data was reported at 25.352 % pa in 2016. This records an increase from the previous number of 24.157 % pa for 2015. Ghana GH: Money Market Rate data is updated yearly, averaging 15.688 % pa from Dec 2003 (Median) to 2016, with 14 observations. The data reached an all-time high of 25.352 % pa in 2016 and a record low of 10.574 % pa in 2006. Ghana GH: Money Market Rate data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Ghana – Table GH.IMF.IFS: Money Market and Policy Rates: Annual.

政策利率：加纳银行：年度在12-01-2017达20.000年利率%，相较于12-01-2016的25.500年利率%有所下降。政策利率：加纳银行：年度数据按年更新，12-01-2002至12-01-2017期间平均值为17.500年利率%，共16份观测结果。该数据的历史最高值出现于12-01-2015，达26.000年利率%，而历史最低值则出现于12-01-2011，为12.500年利率%。CEIC提供的政策利率：加纳银行：年度数据处于定期更新的状态，数据来源于Bank of Ghana，数据归类于Global Database的加纳 – 表 GH.M001：货币政策利率。

政策利率：月结：加纳银行在11-01-2018达17.000年利率%，相较于10-01-2018的17.000年利率%保持不变。政策利率：月结：加纳银行数据按月更新，11-01-2002至11-01-2018期间平均值为17.000年利率%，共193份观测结果。该数据的历史最高值出现于06-01-2003，达27.500年利率%，而历史最低值则出现于01-01-2012，为12.500年利率%。CEIC提供的政策利率：月结：加纳银行数据处于定期更新的状态，数据来源于Bank of Ghana，数据归类于Global Database的加纳 – 表 GH.M001：货币政策利率。

Ghana GH: CPIA: Fiscal Policy Rating: 1=Low To 6=High data was reported at 3.000 NA in 2017. This records an increase from the previous number of 2.500 NA for 2016. Ghana GH: CPIA: Fiscal Policy Rating: 1=Low To 6=High data is updated yearly, averaging 3.500 NA from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 4.500 NA in 2006 and a record low of 2.500 NA in 2016. Ghana GH: CPIA: Fiscal Policy Rating: 1=Low To 6=High data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Ghana – Table GH.World Bank: Policy and Institutions. Fiscal policy assesses the short- and medium-term sustainability of fiscal policy (taking into account monetary and exchange rate policy and the sustainability of the public debt) and its impact on growth.; ; World Bank Group, CPIA database (http://www.worldbank.org/ida).; Unweighted average;

GH：中央银行政策利率：期末在12-01-2017达20.000年利率%，相较于12-01-2016的25.500年利率%有所下降。GH：中央银行政策利率：期末数据按年更新，12-01-1964至12-01-2017期间平均值为17.500年利率%，共54份观测结果。该数据的历史最高值出现于12-01-1997，达45.000年利率%，而历史最低值则出现于12-01-1965，为4.500年利率%。CEIC提供的GH：中央银行政策利率：期末数据处于定期更新的状态，数据来源于International Monetary Fund，数据归类于Global Database的加纳 – 表 GH.国际货币基金组织.国际金融统计：货币市场和价格政策利率：年度。

Key information about Ghana Exchange Rate against USD

• Ghana Exchange Rate against USD averaged 15.486 (USD/GHS) in Feb 2025, compared with 14.972 USD/GHS in the previous month.
• Ghana Exchange Rate against USD data is updated monthly, available from Jan 1957 to Feb 2025.
• The data reached an all-time high of 15.989 in Oct 2024 and a record low of 0.000 in Jun 1967.

CEIC extends history for monthly average Exchange Rate against USD. The Bank of Ghana provides average Exchange Rate against USD. Exchange Rate against USD prior to July 1971 is sourced from the International Monetary Fund.


Key information about Ghana Exchange Rate against USD

• In the latest reports, Ghana Short Term Interest Rate: Month Avg: Ghana: Treasury Bills Rate: 91 Days was reported at 25.800 % pa in Oct 2024.
• Its Long Term Interest Rate (Long Term Interest Rate: Month Avg: Ghana: Government Bond Yield: 10 Years) was reported at 29.850 % pa in Nov 2024.
• The cash rate (Policy Rate: Month End: Ghana) was set at 29.500 % pa in Jun 2023.

Ghana GH: CPIA: Macroeconomic Management Rating: 1=Low To 6=High data was reported at 3.500 NA in 2017. This records an increase from the previous number of 3.000 NA for 2016. Ghana GH: CPIA: Macroeconomic Management Rating: 1=Low To 6=High data is updated yearly, averaging 3.500 NA from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 4.000 NA in 2011 and a record low of 2.000 NA in 2014. Ghana GH: CPIA: Macroeconomic Management Rating: 1=Low To 6=High data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Ghana – Table GH.World Bank: Policy and Institutions. Macroeconomic management assesses the monetary, exchange rate, and aggregate demand policy framework.; ; World Bank Group, CPIA database (http://www.worldbank.org/ida).; Unweighted average;

GH：货币市场利率在12-01-2016达25.352年利率%，相较于12-01-2015的24.157年利率%有所增长。GH：货币市场利率数据按年更新，12-01-2003至12-01-2016期间平均值为15.688年利率%，共14份观测结果。该数据的历史最高值出现于12-01-2016，达25.352年利率%，而历史最低值则出现于12-01-2006，为10.574年利率%。CEIC提供的GH：货币市场利率数据处于定期更新的状态，数据来源于International Monetary Fund，数据归类于Global Database的加纳 – 表 GH.国际货币基金组织.国际金融统计：货币市场和价格政策利率：年度。