Governor of the Bank of Ghana (BoG), Dr Ernest Yedu Addison, has firmly dismissed claims linking the central bank’s independence to the government’s debt exchange programme. Speaking on Joy News on January 2, he clarified that the debt exchange program was a direct response to a severe national crisis and hadContinue Reading
Governor of the Bank of Ghana (BoG), Dr Ernest Yedu Addison, has firmly dismissed claims that the central bank lacks independence from the government. Speaking on Joy News on January 2, he highlighted the bank’s track record over the last eight years, stressing that the institution has consistently operated independentlyContinue Reading
Governor of the Bank of Ghana (BoG), Dr Ernest Yedu Addison, highlighted the significance of the central bank’s internationally acclaimed banking sector cleanup. In an interview on Joy News on January 2, he stated that the recognition BoG received for its decisive actions was a testament to the importance of theContinue Reading
The Ghana cedi strengthened across the major currencies last week amid thin forex liquidity as yuletide demand appeared to have waned. The Bank of Ghana sold US$20 million to Bulk Oil Distributors at a forward rate of GH¢14.7690/$ compared to GH¢14.8133/$ in the previous auction, indicating slowing demand pressures. WithoutContinue Reading
The Governor of the Bank of Ghana, Dr. Ernest Addison and his two deputies, Dr Maxwell Opoku-Afari (First Deputy Governor) and Elsie Addo Awadz (Second Deputy Governor) were among award winners at the National Honours Ceremony yesterday December 30, 2024. Governor Ernest Addison received an Order of the Star ofContinue Reading
Introduction The Bank of Ghana’s announcement of selling gold coins through accredited institutions was received with great enthusiasm by the Ghanaian populace. The move was marketed as a bold step toward democratizing access to gold as an asset class and enabling ordinary Ghanaians to invest in a store of value.Continue Reading
The Bank of Ghana has issued the Large Exposures Directive for Banks, Savings and Loans, Finance Houses and Financial Holding Companies. The objectives of the directive are to limit the maximum loss that Regulated Financial Institutions (RFIs) can incur in the event of the sudden failure of a counterparty orContinue Reading
Ghana will return to single digit inflation in the first quarter of 2026. According to IC Research, it shifted forward its forecast to quarter one 2026, on the back of the sluggish disinflation and earlier forex pressure. “We also flag the renewed external policy uncertainty as a risk to exchangeContinue Reading
The Bank of Ghana (BoG) has issued the bancassurance directives as an Exposure Draft to solicit comments and inputs from the banking industry and the general public, in line with the BOG’s Procedures for Issuance of Directives, 2020. According to the BoG, Bancassurance has notably grown in Africa and aroundContinue Reading
Professional services firm, Deloitte, is predicting a persistence reduction in interest rates in 2025 on the back of a sustained disinflationary trend. It is thus forecasting an end-year policy rate of 22.5% in 2025. This will come as a huge relief for households and businesses as cost of borrowing willContinue Reading