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 stated that their mandate requires promoting ethical and professional conduct while advancing the development of the banking profession, emphasizing that fostering dialogue on monetary policy is a national duty. Mr. Amenumey made these remarks during a high-level policy seminar convened by CIB Ghana to examine the practical implications of monetary policy decisions on lending, inflation, and financial sector development.
According to Ghana News Agency, the event focused on the theme: ‘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 that revealed widespread stakeholder alignment with the Bank of Ghana’s (BoG) recent policy stance. Over 85 percent of respondents anticipated the latest rate cut and are looking for greater alignment between monetary policy actions and economic growth. Concerns were raised about liquidity constraints, credit risk, and volatility in funding costs.
Dr. Johnson Asiama, Governor of the BoG, described the current disinflation process as ‘real, sustained, and progressive,’ backed by coordinated, data-driven measures between the Central Bank and the Ministry of Finance. He noted that inflation fell from 25.8 percent in March to 13.7 percent in June 2025, while the Ghana Reference Rate declined from 32.5 percent in January to 27.7 percent in July. Dr. Asiama cited the cedi’s appreciation, over 40 percent year-to-date, as a contributing factor in lowering imported inflation and improving purchasing power. He cautioned banks to prepare for the evolving financial landscape and announced forthcoming guidelines on credit risk.
The Governor encouraged commercial banks to transition from passive investment in government securities to core credit intermediation, stressing that the era of high interest rates and passive investment is ending. He urged banks to reimagine their business models, 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 and anticipated more credit flowing into real businesses.
The seminar underscored the importance of inclusive, transparent dialogue in shaping policy and enhancing financial sector performance.