The Bank of Ghana (BoG) Governor, Dr. Johnson Asiama, has revealed that the Emergency Monetary Policy Committee meeting will not result in a new policy rate decision.
“We will rather review some developments in the market ahead of the actual meeting in the next 10 days,” the Governor added.
According to him, “Many people thought that we were going to make a policy statement that will not happen”.
The Governor of the Bank of Ghana disclosed this at the ABSA-UPSA Quarterly Banking Roundtable in Accra today.
Background
BoG in a statement issued on Wednesday, announced that the Monetary Policy Committee (MPC) will hold an emergency meeting on Thursday, 17th July 2025, to review recent developments in the economy.
It added that the policy decision of the committee will be announced on Friday, 18th July 2025.
There had been strong expectations this gathering will see the regulator cut the rate by some significant margin.
But it appears that based on the latest revelation by the Governor, there will not be any decision on the policy rate after the meeting.
Supporting the Cedi’s Stability and Counterfeiting
Speaking at the meeting, the Governor also expressed reports that some Ghanaians are supporting some foreign nationals who are engaged in currency counterfeiting.
“This development is very unfortunate, and everything must be done to check it,” the Governor noted.
The Governor also argued that everything must be done with all hands on deck to support the local currency’s stability.
Source: Joy Business
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