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March 10, 2026
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BoG pledges data-driven policy to safeguard Ghana’s economic recovery
Money
Policy
Opportunity
Growth
Key Points
- Ghana's central bank (BoG) will maintain a data-driven monetary policy to sustain recent gains in inflation and currency stability, following a period of severe financial stress.
- Governor Johnson Pandit Asiama reported a significant drop in inflation from 23.8% (end 2024) to 3.3% (February 2026) and a strengthening cedi since he assumed office in February 2025.
- The BoG cut its benchmark monetary policy rate by 900 basis points to 18%, strengthened foreign-exchange management, and increased gross international reserves to $13.8 billion (5.7 months of import cover).
- The banking sector has also strengthened, with capital adequacy at 17.5%, total assets at 447 billion cedis, deposits at 325 billion cedis, and non-performing loans projected to drop to 10% by end 2026.
- Despite these improvements, the central bank remains cautious about external risks, including commodity price volatility and global financial conditions, and parliamentarians called for continued engagement.
Why This Matters
This article is highly significant for Ghana as it details the central bank's commitment to maintaining macroeconomic stability, which is crucial for investor confidence, business planning, and the cost of living for citizens. The reported improvements in inflation, currency stability, and the banking sector directly impact Ghana's economic outlook, potentially leading to lower borrowing costs and fostering sustainable growth after a period of severe financial stress.
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