Browsing: Bank of Ghana

By Adnan Adams Mohammed   The Bank of Ghana’s Monetary Policy Committee (MPC) in the past two months tightened…

Despite these positive developments, the Committee observed that the current level of inflation remains high relative to the medium-term target and will require maintaining the tight stance to reinforce the disinflation process.

There are also the other aspects of Islamic financing involved. So, we are working on it. Hopefully, very soon when we are ready, we can consider licenses to establish Islamic banking.

In a public notice issued on May 13, 2025, and signed by the Secretary of the Bank, Sandra Thompson, the central bank highlighted the significance of the Cedi as a symbol of Ghana’s economic sovereignty, resilience, and development.

The cedi’s rebound has injected optimism into Ghana’s economy, easing inflation to 21.2% in April and revitalizing business confidence.

market analysts want both monetary and fiscal authorities to consolidate the recent gains of the Ghana cedi and guard against a potential reversal.

The impending Virtual Assets Service Providers (VASP) Act will grant the BoG authority to license and supervise cryptocurrency exchanges, wallet providers, and other virtual asset services.

“While the policy tightening will affect funding costs and credit pricing in the near term, the financial system is well-positioned to absorb these effects”, Governor of the Bank of Ghana, Dr. Johnson Asiama, speaking at the maiden post-MPC meeting with CEOs of commercial banks in Accra last week, noted.

This means that government is openly calling the bluff of investors who are gradually pulling back from buying treasury bills that offer interest rates that are between 450 and 700 basis points below year on year consumer price inflation.

Gold prices crossed the US$3,000 per fine ounce on March 14, 2025, on account of heightened economic uncertainty triggered by the trade and geopolitical tensions, persistent inflation, and weakening US dollar”, the Governor of the Bank of Ghana, Dr Johnson Asiama told journalists last week.