Accra: Mr. Benjamin Amenumey, President of the Chartered Institute of Bankers, Ghana (CIB Ghana), has reaffirmed the Institute’s commitment to advancing professional discourse on national economic policy. He emphasized that the Institute’s mandate involves promoting ethical and professional conduct while contributing to the development of the banking profession. He stated that fostering dialogue on monetary policy is a national duty.
According to Ghana News Agency, Mr. Amenumey made these remarks during a high-level policy seminar organized by CIB Ghana to examine the practical implications of monetary policy decisions on lending, inflation, and financial sector development. The event was themed ‘Monetary Policy in Action: How MPC Decisions Shape Ghana’s Economy and Financial Sector.’
Mr. Robert Dzato, Chief Executive Officer of CIB Ghana, highlighted a recent study by the Institute, which indicated widespread stakeholder alignment with the Bank of Ghana’s (BoG) recent policy stance. He noted that over 85 percent of respondents had anticipated the latest rate cut and expressed a desire for greater alignment between monetary policy actions and economic growth. Concerns about liquidity constraints, credit risk, and volatility in funding costs were also noted.
Dr. Johnson Asiama, Governor of the BoG, described the current disinflation process as ‘real, sustained, and progressive,’ supported by coordinated, data-driven measures between the Central Bank and the Ministry of Finance. He reported that inflation fell from 25.8 percent in March to 13.7 percent in June 2025, with the Ghana Reference Rate declining from 32.5 percent in January to 27.7 percent in July. Dr. Asiama identified the cedi’s appreciation, over 40 percent year-to-date, as a key factor in reducing imported inflation and improving purchasing power.
Dr. Asiama also cautioned banks to prepare for the evolving financial landscape, urging them to assess their credit infrastructure. He announced that a notice on credit risk for banks would be released soon. The Governor encouraged commercial banks to shift from passive investment in government securities to core credit intermediation, emphasizing the need for banks to reimagine their business models by focusing on SMEs, agriculture, and green finance.
Dr. Humphrey Ayim Dake, President of the Association of Ghana Industries (AGI), expressed support for the changing interest rate environment. He welcomed the imminent low interest rate regime and anticipated more banking activities, with credit flowing into real businesses.
The seminar underscored the importance of inclusive, transparent dialogue in shaping policy and enhancing financial sector performance.