The governor of the Bank of Ghana, Dr. Johnson Asiama, has given firm assurance that the bank will continue to pursue a prudent, disciplined, and data-driven approach to its monetary policy decisions and actions.
The governor says they will, however, remain mindful of risks in the global environment, including shifts in financial conditions and commodity price volatility.
The Governor, Dr. Johnson Asiama, gave this assurance when he led a technical team from the Central Bank to brief Parliament’s Committee on Economy and Development today in Accra on a detailed Monetary Policy Report.
The governor also assured committee members that looking ahead, the outlook remains encouraging due to lower inflation, stronger external buffers, and improving financial sector conditions that provide a solid foundation for sustained economic recovery. ”.
The meeting with members of the Economy and Development Committee is coming at a time when rising global prices threaten several economies around the world, with the IMF Managing Director warning that most countries may have to brace themselves for some inflation spike going forward.
However, the governor took the opportunity to assure members of the committee about measures taken to mitigate the impact of these shocks on the Ghanaian economy.
Economic stability and results of monetary decisions
Dr. Johnson Asiama also took the opportunity to highlight some measures taken over the past year to help stabilise the economy, adding that these efforts are now visible in the data.
These actions, the governor stated, have helped inflation fall sharply from above 23 percent at the beginning of 2025 to 3.3 percent today, adding that “this is one of the lowest readings recorded in recent history”.
“The exchange rate has stabilised, credit growth is recovering, and the banking system remains resilient,” Dr. Asiama stated.
For ordinary Ghanaians, the Bank of Ghana governor noted that the real measure of the progress made over the past year is the fact that “prices are stabilising, the cedi is steadier, and the economy is moving back toward normal”. ”.
He also stated that the outcomes of these measures reflect “deliberate policy actions taken to restore stability to the Ghanaian economy”.
On the significant reduction in inflation, the governor stated that “this decline reflects both sustained monetary tightening and favourable base effects following the earlier inflation surge”.
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Source: www.myjoyonline.com
