BoG Plans Talks with Banks on FX, Liquidity & Policy Rate
The Governor of the Bank of Ghana (BoG), Dr. Johnson P. Asiama, has announced that he will soon engage the Ghana Association of Banks to address key concerns regarding forward foreign exchange (FX) auctions and market liquidity. Speaking at a brief gathering with the CEOs of Ghana’s commercial banks in Accra, Dr. Asiama emphasized that the discussions aim to improve the FX market’s efficiency and ensure banks maintain adequate liquidity to meet the needs of both businesses and households. “There is hope for further easing,” he said, indicating potential for another policy rate cut—pending continued trends of easing inflation and stable market conditions. However, he stressed that any such move would be cautious, intended to preserve the macroeconomic stability that Ghana has worked hard to achieve. The BoG recently lowered its policy rate from 28% to 25%, citing strong macroeconomic […]