The Bank of Ghana has reaffirmed its commitment to defending the cedi and maintaining price stability, signalling that monetary policy will remain focused on preserving macroeconomic stability despite ongoing global economic challenges.
Governor Dr. Johnson Asiama said the central bank would continue to take measures aimed at protecting the local currency, keeping inflation under control and safeguarding the financial system as Ghana’s economic recovery gains momentum.
Speaking during a stakeholder engagement in Sunyani, Bono Region, Dr. Asiama acknowledged recent improvements in Ghana’s economic indicators but cautioned that external developments, including geopolitical tensions and rising international crude oil prices, continue to pose risks to the economy.
He said the Bank would remain vigilant and avoid complacency in the face of global uncertainties that could affect inflation and exchange rate stability.
“The progress we have made is encouraging, but we must not become complacent. The global economy remains uncertain, and events beyond our borders can still affect us. That is why the Bank of Ghana will continue to take decisions that protect the value of the cedi, keep inflation low, preserve financial stability and support sustainable economic growth,” he said.
The engagement brought together representatives from the Association of Bankers, the Association of Ghana Industries, the Ghana Union of Traders Association, the Ghana National Chamber of Commerce and Industry, as well as executives of community banks, forex bureaus and microfinance institutions.
Dr. Asiama indicated that the current policy rate of 14 percent provides an appropriate balance between containing inflation and supporting economic activity, investment and business expansion.
He also assured stakeholders that the central bank would continue to maintain an orderly and well-functioning foreign exchange market while strengthening transparency and communication with the public.
According to the Governor, the Bank’s broader objective is to create a predictable economic environment in which businesses can invest with confidence, households can plan effectively and the benefits of economic stability are shared across the country.
He reiterated that maintaining confidence in the cedi and ensuring macroeconomic stability remain central to the Bank of Ghana’s strategy for sustaining the country’s recovery.
