Tag Archives: BoG

The Bank of Ghana has lowered its Monetary Policy Rate by one percent. In effect, the rate that commercial banks use as a reference for lending has been reduced from 30 to 29 percent after six months. The rate has remained at 30 percent since July 2023 to keep inflation …

At least sixteen foreign exchange (FX) brokers have been granted approval by the Bank of Ghana to commence operation on the Ghana Interbank Forex Market effective 1 January. A statement issued by the BoG on Friday (5 January) says the move is in accordance with section 3.13.1 of the Ghana …

The Inspector General of Police (IGP), Dr George Akuffo Dampare says no individual has the power to determine the outcome of elections as it was heard in the leaked tape. Speaking before Parliament’s Committee tasked to probe into a ‘leaked IGP tape’ to oust him from office, he said, elections …

Concerned former employees of defunct GN Savings and Loans have appealed to President Akufo-Addo to issue an executive order for the Governor of the Bank of Ghana, Dr. Ernest Addison, to reinstate the company. The regulator revoked the license of GN Savings and Loans Company four years ago, stating that …

The National Democratic Congress (NDC) Member of Parliament for Adaklu and Minority Chief Whip in Parliament, Kwame Governs Agbodza alleged via Twitter on August 11, 2023 that the Bank of Ghana (BoG) has built a luxurious guest house for its governor in the Western Regional capital, Takoradi. He cited inside …

The International Monetary Fund (IMF) has cautioned the Bank of Ghana, highlighting the importance of upholding its policy mandates despite the financial setback experienced in the fiscal year ending 2022. The IMF emphasized that it remains essential for the central bank to take decisive measures to steer inflation back to …

The Bank of Ghana (BoG) has justified the construction of a new headquarters, insisting that its current head office, built in the 1960s, is no longer fit for purpose. The National Democratic Congress (NDC) at a press conference on Tuesday, August 8, accused the Bank of Ghana of building a …

A former Deputy Governor of the Bank of Ghana (BoG), Millison Narh, has died. He died after a short illness in the U.S.A. Mr. Narh retired from the BoG as a Deputy Governor in 2017. He was Deputy Governor from July 2009. During his tenure, Mr. Narh once acted as …

The Bank of Ghana has taken strict action against Fidelity Bank and First National Bank Ghana Limited, imposing a combined penalty of 1000 penalty points each. The penalties have been levied due to the banks’ breach of sections 3.4, 3.5, and 3.9 of the Ghana Interbank Forex Market Conduct rules. …

Governor of the Bank of Ghana (BoG) Ernest Kwamina Yedu Addison has revealed that the first tranche of $600 million from the International Monetary Fund’s $3 Billion credit facility, will hit the bank’s account on Friday, May 19, 2023. Speaking at the IMF and the Finance Ministry’s joint press conference …