Commercial banks in Ghana are now actively courting borrowers, a development the Bank of Ghana (BoG) attributes to improving liquidity conditions and a strengthening banking sector following recent monetary easing. Governor Dr. Johnson Asiama revealed at the 128th Monetary Policy Committee (MPC) press briefing in Accra on January 28 that banks have started reaching out directly to customers to offer loans at significantly lower rates.
Banks are beginning to call clients if they need loans," Dr. Asiama said, describing the development as a positive signal of renewed confidence within the banking system. This indicates improved balance sheets, stronger liquidity positions, and a willingness by lenders to extend credit to the private sector.
The Governor's remarks followed the BoG's decision to cut the Monetary Policy Rate (MPR) by 250 basis points, from 18% to 15.5%, its first policy move for 2026. This builds on an earlier 350-basis-point reduction in November 2025, when the policy rate was lowered from 21.5% to 18% as inflationary pressures eased and macroeconomic conditions improved.
Dr. Asiama emphasized that the decision was informed by forecasts and survey-based inflation expectations, suggesting headline inflation will remain within the medium-term target. "GDP growth is expected to remain strong in 2026, with the output gap narrowing," he noted.
The Governor stressed that the rate cut signals the central bank's intention to support economic growth and credit expansion without undermining price stability. With lending rates easing and banks increasingly willing to extend credit, private sector activity is expected to gain momentum, boosting investment, consumption, and overall economic growth
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