The recommendation was informed by recent conducive macroeconomic developments that signals easing the tight monetary conditions to support private sector growth.

A statement issued in Accra and signed by Mr. Stephane Miezan, President, GNCCI, said the Chamber have taken note of the favourable macroeconomic trajectory.

This include a consistent decline in headline inflation from 23.8 per cent in December 2024 to 13.7 per cent in June 2025, appreciation of the cedi by about 42 per cent in first half of 2025, growth in international trade and current account surpluses, and improved gross international reserves.

In addition, the Chamber had also been following the ongoing fiscal consolidation measures by government, which has curbed excessive public spending and aided monetary stability.

It said these domestic improvements are complemented by a positive global outlook: the IMF projects global growth to increase to 3.3 per cent in 2025, while inflation was expected to decline from 5.8 per cent in 2024 to 4.2 per cent in 2025.

It said easing global financial conditions also suggest diminished external inflationary pressures.

The statement said much as “we appreciate some perceived risks such as global policy uncertainties and 2024 election related fiscal slippages, the prevailing Policy Rate of 28 per cent, maintained since March 2025, continues to hinder access to affordable credit for businesses.”

It said domestic firms have endured prohibitively high lending rates consistently exceeding 25 per cent since September 2022, constraining investment, productivity, and overall business expansion.

In light the of these developments, the GNCCI proposed a reduction of the MPC rate by at least 300 basis points (3 per cent).

This adjustment, in their view, would effectively reduce the cost of domestic commercial capital, stimulate production in the real sector, and reinforce Ghana’s export-led growth agenda.

The proposed policy stance also accounts for the lag in monetary transmission and aims to shield the economy from residual global policy uncertainty.

The GNCCI reaffirmed its commitment to collaborative engagement with public and private sector stakeholders to foster a resilient and inclusive business environment that accelerates sustainable economic growth across Ghana.