By Benjamin Nii Nai Anyetei
The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has reaffirmed the country’s strong macroeconomic performance, citing continued progress in inflation control, exchange rate stability, and overall economic growth.
Speaking at a post-Monetary Policy Committee (MPC) engagement with heads of banks at the Bank Square in Accra, Dr. Asiama said the latest figures confirm Ghana’s steady economic recovery and improved policy credibility.
“Inflation has continued its remarkable downward path, falling to 9.4 percent in September 2025, marking the ninth consecutive month of decline and the first return to single digits in four years,” he announced.
The Governor noted that the local currency has shown strong performance throughout the year.
“The cedi has appreciated by 21 percent year-to-date, placing it among the best-performing currencies globally. This performance underscores the growing credibility of our policy framework and the renewed confidence of markets,” he said.
He further explained that the Bank’s decision to reduce the Monetary Policy Rate (MPR) to 21.5 percent was consistent with the sustained disinflation process and the need to support private sector credit growth.
Dr. Asiama also called for deeper collaboration between the central bank and commercial banks to ensure the transmission of monetary policy gains into the real economy.
He urged financial institutions to complement the central bank’s efforts by improving credit delivery, supporting small and medium enterprises (SMEs), and enhancing compliance with regulatory standards.
“Our collective effort is essential to consolidate the macroeconomic gains achieved so far and to sustain growth momentum,” the Governor added.
Ghana’s latest MPC report showed continued stability in the financial sector, with non-performing loans (NPLs) on a gradual decline and bank profitability improving on the back of lower interest rates and a stronger currency.
The return to single-digit inflation and a firmer cedi reflect the success of fiscal discipline, improved foreign exchange inflows, and prudent monetary policy management.
