The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has called on heads of banking institutions to partner with the central bank to drive economic development. Speaking at a post-Monetary Policy Committee (MPC) engagement with heads of banks, Dr. Asiama emphasized the need for close collaboration to sustain stability, deepen credit to productive sectors, and expand exports.
The MPC had recently reduced the monetary policy rate by 350 basis points to 21.5%, a move aimed at supporting the disinflation process while nurturing growth. This decision reflects the Bank's confidence that inflation will remain within the medium-term target band of 8 ± 2 percent by the end of the fourth quarter.
Dr. Asiama highlighted the country's strong economic performance, including a decline in inflation to 9.4% in September 2025, and a growth rate of 6.3% in Q2 2025. He also commended the banking industry for maintaining strong performance and resilience, with a Capital Adequacy Ratio of 17.7% and a decline in non-performing loans to 20.8%.
The Governor emphasized the importance of partnership between the Bank of Ghana and the banking industry to deepen the interbank foreign exchange market, enhance price discovery, and smooth volatility. He also called on banks to design and promote export-oriented financial products, support SMEs and agribusiness, and adhere to domestic regulatory provisions.
We recognize the resilience of our economy and the steady progress toward full stability," Dr. Asiama said. "However, the task of consolidating stability is a shared one, and we need to work together to achieve our goals."
The Bank of Ghana has also commenced foreign exchange intermediation under the Domestic Gold Purchase Programme, with plans to sell up to $1.15 billion for the month, to enhance liquidity and stability in the foreign exchange market.
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