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Interest rates drop as BoG lowers Monetary Policy Rate to 27%

The Bank of Ghana (BoG) has reduced its Monetary Policy Rate by 200 basis points, lowering it to 27%. This is the second cut since...
Business

Ghana Gold Coin to mop up extra liquidity from the banking sector – BoG

The Bank of Ghana (BoG) has introduced the Ghana Gold Coin as part of a strategic initiative aimed at absorbing excess liquidity from the...
News

Gold coin introduction, not a solution to cedi depreciation – Prof Bokpin to BoG

Economist Professor Godfred Bokpin has expressed scepticism about the Ghana Gold Coin as a remedy for the cedi's depreciation. On Friday, the Bank of Ghana...
News

Policy rate reduced from 29% to 27% – BoG

The Bank of Ghana has lowered the monetary policy rate by 200 basis points, reducing it from 29 percent to 27 percent. Dr. Ernest Addison,...
Business

Cedi depreciates by 24.3% against dollar in nine months – BoG

The Ghana cedi has depreciated by 24.3% against the US dollar on the interbank forex market as of September 2024, according to the Bank...
Business

8 additional data providers, users of credit reporting system gain approval from BoG

In 2023, the Bank of Ghana reported receiving 13 applications from non-banking companies seeking recognition as data providers and authorized users of the Credit...
Business

BoG intensifies effort to combat financial fraud

The Bank of Ghana (BoG) has intensified monitoring mechanisms within the financial sector to curb the rising number of fraud cases. This follows the release...
Business

Non-performing loans ratio in banking sector increased to 24.2% in 2023 – BoG

The Bank of Ghana’s July 2024 Monetary Policy Report has disclosed that the Non-Performing Loans (NPL) ratio in the banking sector increased to 24.2%...
Business

Banking sector’s financial health has strengthened – BoG

The July 2024 Bank of Ghana monetary policy report reveals a strong and profitable banking sector with improved capital buffers. Key indicators show a...
Business

SSNIT contribution by private sector surges by 2.4% – BoG Report

The Bank of Ghana’s Monetary Policy Report for July has revealed an increase in private sector contributions to the Social Security and National Insurance...
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