Governor of Financial institution of Ghana, Dr. Johnson Asiama
The Financial institution of Ghana (BOG ) has justified its choice to carry an emergency Financial Coverage Committee assembly on Thursday, July 17, 2025.
In accordance with an announcement, the transfer is a part of its technique to be proactive and aware of coverage formulation within the nation.
The Financial institution of Ghana’s choice to carry an Emergency MPC assembly forward of the Mid-Yr Overview of the 2025 Funds Estimates had been obtained with some blended views by some business watchers within the banking and monetary sectors.
It is because among the financial information that will likely be launched by the Financial institution of Ghana will kind a part of the Finance Minister’s Mid-Yr Overview Presentation.
Due to this fact, the argument was that it could be prudent for the MPC assembly to be held after the presentation of the Mid-Yr Overview.
Talking at UPSA-Absa Quarterly Roundtable programme , the Financial institution of Ghana Governor, Dr. Johnson Asiama disclosed that the Emergency Financial Coverage Committee assembly is not going to lead to a brand new coverage price choice.
Coverage Fee Choice
The Financial institution of Ghana within the assertion additionally revealed that the following common MPC assembly will likely be held from Monday, July 28, 2025, and conclude on Wednesday, July 30, 2025, with announcement of the coverage choice, as scheduled.
In accordance with some business watchers, the most recent information launched by the Financial institution of Ghana is giving some sturdy indication that the coverage price, which at the moment stands at 28% will likely be reviewed downwards.
Beneficial Financial Knowledge
The MPC after the Emergency Assembly additionally alluded that the economic system confirmed indicators of great enchancment with a constructive outlook.
“Actual GDP [Gross Domestic Product] expanded by 5.3% the primary quarter, pushed by a robust development in agriculture and companies, whereas non-oil GDP rose by 6.8%”, the Financial institution of Ghana revealed.
“One other improvement that we must always word or be guided by is the truth that the Financial institution’s Composite Index of Financial Exercise elevated by 4.4% year-on-year in Might 2025, and the most recent PMI [Purchasing Managers Index] readings level to rising enterprise and shopper confidence”, It added
“Non-public sector credit score development has additionally improved, reaching 19.9% in April, up from 10.8% a yr earlier, with the contraction in actual credit score narrowing considerably”, it continued
The doc additionally confirmed that Ghana’s exterior place stays strong with a provisional commerce surplus of US$5.6 billion within the first half of 2025, supported by sturdy gold and cocoa export receipts. The present account surplus has additionally widened to US$3.4 billion over the identical interval.
The event, the assertion stated has helped enhance investor sentiment, bolstered by Ghana’s IMF-supported programme and higher credit score rankings.
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DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially signify the views or coverage of Multimedia Group Restricted.
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