Tag Archives: BOG

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has, at an emergency meeting held on Wednesday August 17, increased the Policy rate from 19 to 22 per cent. Governor of the BoG Dr Ernest Addison said recent developments in the foreign exchange market showed elevated demand pressures, reflecting among …

The Bank of Ghana (BoG) has called for calm as it has introduced measures to resolve the fall of the Cedi against the major trading currencies especially the Dollar. The central bank has identified five key reasons for the woes of the local currency. These are “The strength of the …

To help shore up the foreign exchange reserves of the Bank of Ghana, starting September 1st, the Bank of Ghana will purchase gold from gold mining companies in the country at world market prices but payment will be made in cedis. This was the agreement between the Economic Management Team, …

The Bank of Ghana has responded to allegations indicating it has printed an amount of GH¢22.04 billion to finance government’s budget without parliamentary approval. The assertion was made by the Deputy Ranking Member of Parliament’s Finance Committee, Dr. Cassiel Ato Forson when he addressed journalists outside the House on July 25. But the central …

The Bank of Ghana (BoG) has maintained the policy rate at 19%. Addressing the media on Monday, July 25, 2022, after the Monetary Policy Meeting, the Governor, Ernest Addison disclosed that one of the reasons for maintaining the rate among other things has to do with how inflation has persisted …

Banks have been directed to allow non-resident Ghanaians who have not yet registered for their Ghana Cards to use their passports for bank transactions till they obtain the cards. The Bank of Ghana served notice that effective July 1, 2022, the only acceptable ID for bank transactions will be the Ghana Card …

The governor of the central bank, Dr.Ernest Addison, has said that legal frameworks have been firmed up to commit Ghana into trading in local currencies among countries in the African continent. He said the central bank has embarked on reforms which will enhance financial transaction with Ghana and it’s neihghbouring …

The Bank of Ghana (BoG) has by the end of the year 2021 secured monetary compensations and refunds totalling about GH₵72.9 million for complainants. Regulated Financial Institutions (RFI) paid complainants whose complaints were lodged, investigated, and found justifiable based on the BoG market conduct rules for its regulated entities. A breakdown of …

Dr. Samuel Worlanyo Mensah, an Economist, with the Center for Greater Impact Africa, has called for a strategic policy to strengthen the Bank of Ghana to fight against the use of foreign currencies in the country. He explained that BoG needed to be resilient in stabilising the Ghana Cedi to compete with …

Bank of Ghana Governor Ernest Addison has said developments in global capital markets, combined with internal challenges that resulted in the rating downgrade of Ghana’s economy, have played out to exacerbate price and exchange rate pressures in the domestic economy. The Ghana cedi, he noted, came “under severe pressure in the first …