By Adnan Adams Mohammed Ghana has officially entered a new economic era as robust macroeconomic performance propelled the country’s total Gross Domestic Product (GDP) past the $100 billion threshold, …
Monetary Policy Committee (MPC)
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Business, Small BusinessEconomy and FinanceNews
Policy Rate held at 14% … amid rising global energy pressures and robust domestic growth
by Adnan Adamsby Adnan AdamsBy Adnan Adams Mohammed The Monetary Policy Committee (MPC) of the Bank of Ghana has unanimously voted to maintain the Monetary Policy Rate at 14.0%, citing the need to …
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Business, Small BusinessEconomy and FinanceNews
BoG to sell remaining ADB and NIB shares, clamp down on currency abuse
by Adnan Adamsby Adnan AdamsBy Adnan Adams Mohammed The Bank of Ghana (BoG) has taken a decisive stance to fully divest its residual holdings in commercial banks, including the Agricultural Development Bank (ADB) …
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Business, Small BusinessEconomy and FinanceNews
Falling global oil risks open critical policy space for Central Bank’s disinflation agenda – Dr Asiama
by Adnan Adamsby Adnan AdamsBy Adnan Adams Mohammed The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has indicated that the recent de-escalation of geopolitical risks in the Middle East could significantly …
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Business, Small BusinessEconomy and FinanceNews
Economy surges past US$100bn as gov’t rules out future IMF bailouts
by Adnan Adamsby Adnan AdamsBy Adnan Adams Mohammed In a historic turning point for West Africa’s second-largest economy, Finance Minister Dr. Cassiel Ato Forson has declared that Ghana has officially transitioned from an International …
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Business, Small BusinessEconomy and FinanceNews
BoG’s dynamic CRR is a liquidity management upgrade
by Adnan Adamsby Adnan AdamsThe decision by the Bank of Ghana as announced last week, to introduce a 20 percent dynamic Cash Reserve Ratio (CRR) framework for commercial banks marks one of the most …
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Economy and Finance
BoG rejects artificial market intervention …focuses on reserve accumulation to anchor cedi and check volatility
by Adnan Adamsby Adnan AdamsThe Bank of Ghana (BoG) has firmly ruled out executing artificial or heavy-handed interventions in the foreign exchange market to manage recent demand pressures on the local currency. Instead, the …
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Economy and Finance
BoG orders banks to chase defaulters on ‘written-off loans’ …to avoid ‘moral hazard’
by Adnan Adamsby Adnan AdamsBy Adnan Adams Mohammed The Bank of Ghana (BoG) has directed commercial banks to aggressively pursue borrowers of fully provisioned loans, warning that completely erasing bad debts from their books …
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By Toma Imirhe Even ahead of last week’s decision by the Bank of Ghana’s Monetary Policy Committee not to cut the benchmark Monetary Policy Rate any further from the 14% …
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Economy and Finance
Lending, deposit rates to remain unchanged …as BoG maintains 14% policy rate for next 2 months
by Adnan Adamsby Adnan AdamsBy Toma Imirhe The Bank of Ghana has put its aggressive monetary easing cycle on hold, with its Monetary Policy Committee (MPC) deciding last week to maintain the benchmark Monetary …