ALL POSTS FILED UNDER: BOG
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 →
Police deposit NAM 1 GH¢2.5m at BoG; Court to determine distribution
Add a CommentThe Ghana Police Service has announced that it has deposited a total amount of GH¢2.5 million received from the Chief Executive Officer of the defunct gold dealership firm, Menzgold, Nana Appiah Mensah, known as NAM1 to the Police Exhibit Account … Read more →
BoG maintains policy rate at 30%
Add a CommentThe Bank of Ghana has maintained the monetary policy rate at 30 per cent after reviewing developments in the economy. This means that the lending rate in the country will remain steady. It is the second time the Central Bank … Read more →
Total of 7.73 tons of monetary gold worth $480m added to reserves – BoG
Add a CommentFrom the beginning of the year to June 2023, the Bank of Ghana has built up US$1billion in reserves, mainly coming from its gold purchase programme, and settlement of short-term liabilities, Governor of the Bank of Ghana (BoG) Dr Ernest Addison … Read more →
BoG adds 7.70 tonnes of gold to reserves
Add a CommentThe Bank of Ghana (BoG) has added 7.70 tonnes of gold to the country’s reserves as of the end of last month, the Governor of the Bank of Ghana, Dr Ernest Addison, has stated. The measure, which is part of … Read more →
See BoG’s list of 97 unlicensed entities providing loans through mobile apps
Add a CommentThe Bank of Ghana has cautioned unlicensed entities that are engaged in the provision of loans through mobile applications to the Ghanaian public. The central bank said this was in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016 … Read more →
BoG increases policy rate to 29.5%
Add a CommentThe Bank of Ghana has increased its policy rate by 150 basis points to 29.5% to help check the high inflation and any downside risks to the economy. This means the cost of credit will continue to remain high, affecting … Read more →
BoG’s $200m to BDCs to import petroleum products inadequate – Energy Strategist
Add a CommentEnergy Management Strategist, Dr Yussif Sulemana, has described as inadequate the $200 million that the Bank of Ghana (BoG) is selling to the Bulk Oil Distribution Companies (BDCs) to import finished petroleum products into the country. According to him, the … Read more →
BoG meeting with banks, forex bureaux over cedi fall takes off
Add a CommentThe Bank of Ghana (BoG) meeting with Managing Directors of Banks and some forex bureaux as part of moves to stabilize the forex market today, Tuesday October 25 has commenced in Accra. The ongoing meeting also forms part of efforts … Read more →
Debt restructuring to weaken cedi; BoG partly to blame for cedi woes – JP Morgan
Add a CommentGlobal leader in financial services and US firm, JP Morgan has warned that the probable debt restructuring of Ghana’s debt would further weaken the Ghana cedi, even if an increase in Foreign Exchange Forward Auction sizes or reversal of the … Read more →
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