Marginal cedi depreciation not a threat to Stability – BoG

The Bank of Ghana has played down recent concerns over the cedi’s depreciation, saying, the currency’s slide in January 2026 does not pose a threat to overall macroeconomic stability.

This comes after the Ghana cedi lost 4.0% in value to the US dollar in the first month of 2026.

Addressing developments in the foreign exchange market at the announcement after Monetary Policy Committee (MPC) meeting, the Governor Dr. Johnson Asiama stressed that while the cedi weakened by approximately four percent during the month, the central bank does not view this movement as a cause for alarm.

According to Dr. Asiama, the fundamentals of the economy remain strong, and current exchange rate trends are not expected to undermine price stability or economic performance.

“The four percent depreciation of the cedi in January [2026] is not a worry,” the Governor said, emphasising that the Bank is confident in its policy framework.

Dr. Asiama also highlighted the Bank of Ghana’s continued commitment to deploying a full range of monetary policy tools to manage liquidity conditions and reinforce expectations around inflation.

This includes the use of open market operations, which remain central to the Bank’s efforts to support orderly market functioning and anchor inflation expectations, he added.

The comments come in the wake of the Bank’s latest Monetary Policy Committee meeting, during which policymakers maintained a vigilant stance on macroeconomic developments and reiterated readiness to take action if needed.

Despite short-term currency movements, the Central Bank says its leadership remains focused on sustaining price stability while supporting broader economic growth.

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