ALL POSTS FILED UNDER: BOG
BOG increases policy rate to 28%
Add a CommentThe Monetary Policy Committee (MPC) of the Bank of Ghana has increased the policy rate from 27% to 28% due to an elevated core inflation driven by both fiscal and monetary missteps. According to the committee, while headline inflation has … Read more →
BoG, ECG, and COCOBOD in massive financial distress – Finance Minister
Add a CommentFinance Minister Dr Cassiel Ato Forson says the Bank of Ghana (BoG) currently holds a negative equity of GHS55 billion. This significant financial challenge was inherited from the previous administration, and it underscores the need for immediate government intervention to … Read more →
BoG injected US$2.8bn into forex market between August and December 2024
Add a CommentThe Bank of Ghana injected about US$2.8 billion in the foreign exchange market between August 2024 and December 2024. It subsequently auctioned US$480 million to the Bulk Oil Distributors on the back of foreign exchange inflows from multilateral partner. However, … Read more →
BoG unveils ultra-modern headquarters, The Bank Square
Add a CommentThe Bank of Ghana has officially inaugurated its new headquarters, “The Bank Square,” a state-of-the-art complex designed to symbolize Ghana’s growing influence in the global financial landscape. President Nana Addo Dankwa Akufo-Addo, Vice President Dr. Mahamudu Bawumia, and other dignitaries … Read more →
BoG suspends Foreign Exchange Trading Licence of CBG for one month, effective Nov. 26
Add a CommentThe Bank of Ghana (BoG) has suspended the Foreign Exchange Trading Licence of Consolidated Bank Ghana (CBG), with effect from November 26, 2024, for a period of one month. This, the central bank explained is in accordance with section 11 … Read more →
Jail persons implicated in banking sector clean-up – BoG to Gov’t
Add a CommentThe Governor of the Bank of Ghana, Dr. Ernest Addison, has made an impassioned call for governmental intervention against shareholders of banks and financial institutions implicated in the controversial financial sector clean up. During a joint press conference with the … Read more →
$360m IMF cash hits BoG account
Add a CommentThe Executive Board of the International Monetary Fund (IMF) has approved the second review of Ghana’s $3 billion loan programme, enabling for the immediate disbursement of $360 million to the country. Finance Minister, Dr. Mohammed Amin Adam, who disclosed this, said $360 … Read more →
BoG maintains monetary policy rate at 29%
Add a CommentIn a recent announcement, the Bank of Ghana (BoG) has decided to maintain its Monetary Policy Rate (MPR) at 29%. This move comes in response to a warning from the International Monetary Fund (IMF) cautioning central banks to be cautious … Read more →
BoG revises balance, transaction limits of mobile money wallets upwards
Add a CommentThe Bank of Ghana (BoG) has revised the balance and transaction limits of customers’ mobile money wallets upward, effective March 1, 2024. A statement from the Ghana Chamber of Telecommunications pointed out that the development is in line with increasing … Read more →
BoG lowers base rate to 29% to stimulate economic growth
Add a CommentThe Bank of Ghana (BoG) has announced a significant reduction in its Monetary Policy Rate, also known as the base rate, from 30 percent to 29 percent. This decline of 100 basis points signifies the apex bank’s efforts to boost … Read more →
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