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Confidence in economy growing - BoG - Ghanaian Times

There is growing confidence in the Ghanaian economy in view of the positive macroeconomic fundamentals and growth prospects, Governor of the Bank of Ghana (BoG), Dr Ernest Addison has said.
He said the domination of the country’s bond market by non-residents demonstrated the confidence of both local and foreign investors in the Ghanaian economy.
Dr Addison disclosed this in response to a question on the confidence and growth prospects of the Ghanaian economy, after the Monetary Policy Committee (MPC) press conference in Accra on Monday, and said the first four months of the year saw huge investment in the country’s bond market by non-residents. ....

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E-cedi: Bank of Ghana to pilot digital currency

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The Bank of Ghana is in the advanced stages of introducing a digital currency, the Governor of the central bank, Dr Ernest Addison has disclosed.
According to the Dr Addison, the e-cedi will go through three phases before it goes into circulation.
He said in the final stage, a pilot would determine whether the digital currency will be feasible before it goes into circulation.
The Bank of Ghana was one of the first African Central Banks to declare that we were working on a digital currency looking at the concept of an e-cedi, Dr Addison said on Monday at a news conference in Accra. ....

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Defaulting borrowers undermine lending to private sector — Governor

The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has taken issue with businesses that are reluctant to repay their loans, describing them as "serial borrowers" whose poor repayment culture undermines the capacity of banks to support private sector growth. ....

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Bank of Ghana cuts policy rate to 13.5%

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BY: Maxwell Akalaare Adombila
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The Bank of Ghana (BoG) has slashed its benchmark rate, the policy rate by 100 basis points (bps), signalling a return to monetary easing after a year of tightening.
The bank reduced the rate from 14.5 per cent to 13.5 per cent today after concluding its 100th Monetary Policy Committee (MPC) meeting on May 29.
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, who chairs the seven-member committee, said at a news conference in Accra yesterday that the reduction in the rate followed the waning in risks to the inflation and growth outlooks, which had occasioned a sustained rate-hold between May 2020 and March this year. ....

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BoG swerves market with 100-basis cut in policy rate

The Monetary Policy Committee of the Bank of Ghana has, in a rather surprise turn of events, cut the monetary policy rate by a 100-basis points, against ....

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