BoG Governor Assures Disciplined and Data-driven Monetary Policy Decisions to Sustain Economic Stability
Governor of the Bank of Ghana, Dr. Johnson Asiama, has assured that the central bank will maintain a prudent, disciplined and data-driven approach in the conduct of monetary policy as it works to sustain macroeconomic stability.
According to the Governor, the central bank will remain attentive to risks in the global economic environment, particularly shifts in international financial conditions and volatility in global commodity prices.
Dr. Asiama gave the assurance when he led a technical team from the central bank to brief Parliament’s Committee on Economy and Development in Accra on the Bank’s detailed Monetary Policy Report.
He told members of the committee that the country’s economic outlook remains encouraging, underpinned by declining inflation, stronger external buffers and improving financial sector conditions.
These developments, he noted, provide a solid foundation for sustained economic recovery.
The engagement with the parliamentary committee comes at a time when global economic uncertainties continue to mount, with rising international prices posing risks to several economies.
The Managing Director of the International Monetary Fund has recently cautioned that many countries could face renewed inflationary pressures going forward.
Against this backdrop, Dr. Asiama assured lawmakers that the central bank has implemented a number of policy measures aimed at cushioning the Ghanaian economy against potential external shocks.
Economic stability and policy outcomes
Touching on recent economic developments, the Governor indicated that policy interventions implemented over the past year are beginning to yield positive results, with improvements already reflected in key macroeconomic indicators.
According to him, inflation has declined sharply from above 23 percent at the beginning of 2025 to 3.3 percent currently — one of the lowest readings recorded in recent years.
“The exchange rate has stabilised, credit growth is recovering, and the banking system remains resilient,” Dr. Asiama stated.
He further noted that for households and businesses, the most visible sign of the progress made over the past year is the relative stability in prices and the improved performance of the cedi.
“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 said.
Dr. Asiama emphasised that these outcomes reflect deliberate policy actions taken by the central bank to restore stability to the Ghanaian economy.
On the sharp decline in inflation, the Governor explained that the development reflects both sustained monetary tightening and favourable base effects following the earlier surge in inflation.
