ALL POSTS FILED UNDER: BOG
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 →
Cedi Depreciation, high inflation temporary – BoG
Add a CommentThe Second Deputy Governor of the Bank of Ghana (BoG), Elsie Addo Awadzi, has described as ‘temporary’ the continuous depreciation of the cedi and upward trend of the country’s headline inflation. She believes that speculative behaviour by Ghanaians is working … Read more →
BoG, Police arrest 70 ‘Black Market’ operators
Add a CommentOver 70 persons mostly foreigners belonging to entities engaging in illegal forex market operations, also known as the black market have been arrested by officials of Bank of Ghana (BoG) and the police. The crackdown was conducted in areas identified … Read more →
BoG to sell $420m to BDCs in final quarter of 2022
Add a CommentThe Bank of Ghana will sell a total of $420 million to Bulk Oil Distribution Companies via banks in the final quarter of this year, in its Foreign Exchange Auctions. This is higher than the amount it sold to the … Read more →
BoG increases Policy Rate to 22%
Add a CommentThe Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has, at an emergency meeting held on Wednesday August 17, increased the Policy rate from 19 to 22 per cent. Governor of the BoG Dr Ernest Addison said recent … Read more →
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