Latest news with #JohnsonAsiama
Bloomberg
2 days ago
- Business
- Bloomberg
Bank of Ghana Plans to Cap Non-Performing Loan Ratio at 10% by December 2026
Ghana's central bank is planning to introduce a cap on non-performing loans for the banking industry to restore asset quality after the West African nation's debt restructuring and period of high inflation eroded individuals and companies' ability to repay their loans. The directive to be enforced by December 2026 will cap non-performing loans ratio at 10%, Bank of Ghana Governor Johnson Asiama said in the capital, Accra, Tuesday.
Reuters
23-05-2025
- Business
- Reuters
Ghana central bank keeps rate unchanged as inflation eases
ACCRA, May 23 (Reuters) - Ghana's central bank on Friday kept its main interest rate (GHCBIR=ECI), opens new tab unchanged at 28.00%, saying consumer inflation was expected to ease further this year. Governor Johnson Asiama said at the opening of the monetary policy committee meeting on Wednesday that while the inflation outlook was improving, it remained vulnerable to food supply constraints and external price shocks. Consumer price inflation slowed for a fourth month in a row in April, to 21.2% year on year from 22.4% in March. It remains well above the Bank of Ghana's targets of 8% with a margin of error of 2 percentage points. The gold, oil, and cocoa-producing West African nation is recovering from its most severe economic crisis in decades, facing challenges in its critical cocoa and gold industries.
Business Recorder
23-05-2025
- Business
- Business Recorder
Ghana central bank keeps rate unchanged as inflation eases
ACCRA: Ghana's central bank on Friday kept its main interest rate unchanged at 28.00%, saying consumer inflation was expected to ease further this year. Governor Johnson Asiama said at the opening of the monetary policy committee meeting on Wednesday that while the inflation outlook was improving, it remained vulnerable to food supply constraints and external price shocks. Consumer price inflation slowed for a fourth month in a row in April, to 21.2% year on year from 22.4% in March. It remains well above the Bank of Ghana's targets of 8% with a margin of error of 2 percentage points. The gold, oil, and cocoa-producing West African nation is recovering from its most severe economic crisis in decades, facing challenges in its critical cocoa and gold industries.
Bloomberg
23-05-2025
- Business
- Bloomberg
Ghana Keeps Rates Steady With Cedi Rally Set to Tame Inflation
Ghana's central bank kept its key interest rate on hold to maintain downward pressure on inflation, which is expected to get a boost from the West African nation's world-beating currency. The monetary policy committee maintained the policy rate at 28%, Governor Johnson Asiama told reporters on Friday in the capital, Accra. All three economists in a Bloomberg survey correctly predicted the decision.
Bloomberg
23-05-2025
- Business
- Bloomberg
Ghana Set to Hold Key Rate to Hasten Disinflation
Ghana's central bank is set to continue its tight monetary policy stance to hasten the pace of disinflation toward its year-end target. Governor Johnson Asiama will probably maintain the key interest rate at 28% when he delivers the monetary policy committee's decision shortly after 3 p.m. Accra time on Friday, according to economists polled by Bloomberg.
