Ghana’s real household spending will grow by an improved 2.5% year-on-year to GH¢129.7 billion in 2025, Fitch Solutions has disclosed. This follows a weaker growth of 1.1% a year ago. According to the UK-based firm, this will be 25.4% above the GH¢103.4 billion recorded in 2019 (pre-pandemic). The major driversContinue Reading
Bank of Ghana Governor, Dr Johnson Pandit Asiama, has said that one of the most powerful signals a central bank can send to markets is policy consistency, especially during periods of uncertainty. In this spirit, he said, at its most recent meeting held just days ago, the Monetary Policy CommitteeContinue Reading
Professional services firm, Deloitte, has indicated that the Monetary Policy Committee (MPC) of the Bank of Ghana is likely to maintain the status quo on its policy rate to tame inflation risks amid Ghana cedi gains and uncertainties. The MPC kept the policy rate at 28% in May 2025, citingContinue Reading
From ending 2024 at $1 to GH₵14.70, the cedi has appreciated nearly 30% in the first five months of this year, currently trading at $1 to GH₵10.30. That’s the strongest level the cedi has reached in over two years, and the sharpest appreciation over this period since 2010. This veryContinue Reading
Commercial banks operating in the country will now be required to maintain cash reserves in the same currency as the deposits they hold. This is a key policy adjustment as the Bank of Ghana (BoG) amends its Dynamic Cash Reserve Ratio (CRR) framework. The revision is to deepen financial sectorContinue Reading
The external sector outlook remains favourable, largely anchored on expectations of increased gold and cocoa export receipts, as well as inflows from remittances, the Bank of Ghana has revealed in its Monetary Policy Report. According to the Central Bank, the external sector has continued to improve, with a record provisionalContinue Reading
Based on easing inflationary pressures and optimism about macroeconomic conditions, the latest confidence surveys by the Bank of Ghana showed significant improvement in consumer and business indices, the highest in the last seven years. On the domestic front, the Central Bank’s high frequency real sector indicators also pointed to aContinue Reading
The Bank of Ghana (BoG) has maintained its benchmark monetary policy rate at 28%. This is a cautious stance amid lingering inflationary pressures despite recent improvements in currency stability and macroeconomic indicators. The decision was announced on Friday, May 23, 2025 at the conclusion of the Bank’s Monetary Policy CommitteeContinue Reading
Ghana’s total public debt rose by GH¢42.7 billion in the first quarter of 2025 to GH¢769.4 billion in March 2024, the Bank of Ghana has revealed in its May 2025 Summary of Financial and Economic Data. In January and February 2025, the country’s total public debt stood at GH¢752.1 billionContinue Reading
The Ghana cedi gained 24.1% against the US dollar in the first five months of 2025. This is compared with a loss of 5.3% in the first quarter of 2025. According to the Bank of Ghana, the local currency traded at a rate of GH¢11.85 in May 2025 to theContinue Reading