Tag: Bank of Ghana
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![Our Monetary Policy Needs Urgent Review – Togbe Afede XIV [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2021/11/Togbe-Afede-XIV.jpg)
Our Monetary Policy Needs Urgent Review – Togbe Afede XIV [ARTICLE]
This article is a rejoinder to Bank of Ghana, BOG’s press statement headlined, “Responses to Issues Raised by Togbe Afede XIV (TAXIV) on High Interest Rates in Ghana”. During the courtesy call on me by the Rt. Hon. Alban Bagbin, Speaker of Parliament, on November 20, 2021, I spoke against BOG’s high monetary policy rate…
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BoG responds to Togbe Afede XIV on High Interest Rates in Ghana
The Bank of Ghana’s attention has been drawn to a recent article published on JOY FM online platform (myjoyonline.com) with the caption: “Bank of Ghana has lost focus”, and which has since been republished by other media houses and circulated widely on social media. In the said article, Togbe Afede XIV is reported to have…
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BoG forwards suspected financial crime cases to EOCO for further probe
The Bank of Ghana has forwarded a number of suspected financial crime cases to the Economic and Organised Crime Office (EOCO) for investigations. According to the Central Bank, these include suspicious claims to the Bank of Ghana for the payment of certain large sums of money purportedly remitted to them by foreign counterparties through some…
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2022 economic outlook positive, but potential risks must be monitored – BoG Governor
Governor of the Bank of Ghana, Dr. Ernest Addison has assured of intensified surveillance of the economy to ensure that the unpredictabilities surrounding food prices, petroleum price adjustments, among others do not exert inflationary pressures on the country’s economic outlook for 2022. Ghana’s inflation rate for 2021 has witnessed an upward trend in recent times.…
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14.5% policy rate will slow down inflation, decelerate growth of economy – Economist
Economist with the University of Ghana, Dr. Adu Owusu Sarkodie says raising the policy rate by the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) to 14.5% in November 2021, will help slow down inflation but is also likely to affect the economy’s growth rate as well. The rate had been maintained at…
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2022 budget: Reset fiscal policy to create credible path towards sustainability – BoG to Government
Governor of the Bank of Ghana, Dr. Ernest Addison, is urging the government to use the 2022 budget to reset fiscal policy and create a more credible path towards medium-term fiscal sustainability. According to him, this is crucial to accelerate the country’s financial stability. Speaking at the 10th edition of the Ghana Economic Forum (GEF),…
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December 31 deadline for microfinance firms to recapitalise draws closer
With just two months left for microfinance institutions to meet the deadline for their new minimum capital requirement of GH¢2 million, the Bank of Ghana has reiterated calls for them to ensure they build the necessary capacity to do so. The central bank’s recent reforms have seen the recapitalization of commercial banks as well as…
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Use 2022 budget to reset fiscal policy to create credible path towards sustainability. – BoG to Government
Governor of the Bank of Ghana, Dr. Ernest Addison, is urging government to use the 2022 budget to reset fiscal policy and create a more credible path towards medium term fiscal sustainability. According to him, this is crucial to accelerate financial stability for the country. Speaking at the 10th edition of the Ghana Economic Forum…
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Police Service discusses banking security with BoG, Bankers’ Association
As part of efforts to improve safety and security in the banking sector, the Ghana Police Service has met with officials of the Bank of Ghana and other relevant stakeholders in the sector. This comes on the back of several attacks on cash-in-transit operations within the country. The Ghana Police Service, in a Facebook…
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We’re not running 64th anniversary promo, ignore fraudulent reports – BoG
The Bank of Ghana has cautioned the general public against participating in a fraudulent promotion said to be on the bank’s 64th anniversary. According to a notice from the central bank, it has observed the fake promotion on social media, hence the disclaimer. The bank however says it is not running a 64th-anniversary promotion of…