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Banks (Finance)

Ghana Chamber of Commerce Welcomes Monetary Policy Rate Reduction

Strategic Insights

— 1 min read

The Ghana National Chamber of Commerce and Industry (GNCCI) has praised the Bank of Ghana (BoG) for its decision to lower the Monetary Policy Rate (MPR) by 300 basis points, from 28 per cent to 25 per cent. The reduction is expected to provide relief to the private sector and stimulate economic growth. The GNCCI, in a statement, encouraged banks and financial institutions to adjust their commercial lending rates downward to reflect the new MPR. The reduction aligns with the Chamber's formal request submitted to the BoG on July 29, 2025, to support business recovery and improve access to credit.

Key Takeaways:

  • The Ghana National Chamber of Commerce and Industry (GNCCI) supports the Bank of Ghana's (BoG) decision to reduce the Monetary Policy Rate (MPR) by 300 basis points, from 28 per cent to 25 per cent.
  • The reduction is expected to lower lending rates, reduce the cost of doing business, and encourage investment in key sectors such as manufacturing, agribusiness, pharmaceuticals, and other value-adding industries.
  • The GNCCI submitted a formal request to the BoG on July 29, 2025, to reduce the MPR to support business recovery, improve access to credit, and stimulate private sector growth.
  • The Chamber praised the Monetary Policy Committee's commitment to balancing price stability with inclusive and sustainable growth and its readiness to further adjust the rate in response to continuing favourable macroeconomic developments.
  • The GNCCI urged the government and development partners to provide targeted support for SMEs and export-driven industries to complement the policy decision.
  • The Chamber reaffirmed its commitment to working collaboratively with the Bank of Ghana and all relevant stakeholders to create an enabling environment for private sector-led growth and national development.

Statistics:

  • The Bank of Ghana reduced the Monetary Policy Rate (MPR) by 300 basis points, from 28 per cent to 25 per cent.
  • The Ghana cedi has appreciated, and inflation has declined, contributing to the favourable macroeconomic stability that informed the policy decision.
  • The Ghana National Chamber of Commerce and Industry (GNCCI) represents the interest of over 4,000 businesses across various sectors.
  • The Chamber is committed to promoting private sector-led growth and national development.

Sources:

  • Ghana News Agency, August 1, 2025
  • Statement by Ghana National Chamber of Commerce and Industry (GNCCI), August 1, 2025

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