The upcoming Monetary Policy Committee (MPC) meeting occurs against a backdrop of encouraging developments for the Ghanaian economy. The recent appreciation of the Ghana Cedi against the major currencies especially the US Dollar, the notable dip in inflation from 22.4percent in March to 21.2percent in April, and the positive upgradeContinue Reading
The Ghana cedi gained 6.25% week-on-week against the dollar in the retail market, cementing its position as the best currency among a basket of 15 Sub-Saharan African currencies. This took its year-to-date gains against the American greenback to 16.29%. It traded at a mid-rate of GH¢13.60 to one dollar atContinue Reading
The Bank of Ghana has cautioned the public against scammers who are pretending to be “foreign investors” and promising high sums of money in return. According to the central bank, these scammers are using a number of platforms and making promises to induce unsuspecting victims to invest. It said inContinue Reading
The cedi has been rated among the world’s best-performing currencies in recent weeks, drawing praise from businesses and policymakers alike. However, a new policy discussion paper by the Centre for Policy Scrutiny (CPS), titled ‘Ghana’s Cedi Holds Steady – But Can the Calm Last?’, cautions that this impressive run mayContinue Reading
The Bank of Ghana (BoG) has reaffirmed its commitment to strengthening cybersecurity in the financial sector through enhanced collaboration and regulatory reform. At the Financial Industry Command Security Operations Center (FICSOC) Stakeholders Forum held in Accra, First Deputy Governor Dr. Zakari Mumuni underscored the central bank’s strategic alliance with theContinue Reading
The Ghana cedi started this week on a weaker note after strengthening against the US dollar last week amid a weakening US dollar Index. It depreciated slightly against the American greenback in the retail market, going for GH¢16.00. This culminated in a year-to-date depreciation of 2.36%. It is, however, unclearContinue Reading
The Bank of Ghana will auction $120 million to Bulk Oil Distribution Companies (BDCs) in the second quarter of 2025. This is the same amount it sold to the BDCs in the first quarter of 2025. According to its Forex Forward Auction Calendar, $40 million will be sold to theContinue Reading
IC Research, the research arm of IC Securities, believes the Bank of Ghana will cut its policy rate for the first time since November 2024 in July 2025. This is coming after the Monetary Policy Committee (MPC) of the Bank of Ghana increased the policy rate by 100 basis pointsContinue Reading
A painter accused of stealing electrical cables at the new Bank of Ghana building at Ridge, has been granted bail by an Accra Circuit Court. Ahmed Mohammed Lawal was admitted to bail in the sum of GH¢1 million with two sureties. The relieving judge, Mr Isaac Addo, ordered the prosecution toContinue Reading
The Bank of Ghana (BoG) has assured the Ghana Union of Traders Association (GUTA) that it remains committed to creating a stable and supportive macroeconomic environment for businesses, despite current inflation-fighting policies that have pushed interest rates higher. At a stakeholder meeting held at the Bank Square on April 4,Continue Reading