Audio By Carbonatix
The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has restated his ambition to reduce Ghana’s lending rate to no more than 10 per cent by the end of his tenure, underscoring a policy focus on making credit more affordable for businesses and households.
Speaking during a courtesy call by the Asantehene, Otumfuo Osei Tutu II, at the Bank of Ghana on Wednesday, January 7, Dr Asiama said the central bank was carefully balancing the need to protect recent disinflation gains while supporting economic recovery through lower borrowing costs.
“I have said on many occasions that my prayer and wish is that by the end of my four-year tenure, lending rates will not be more than 10 per cent,” he stated, noting that easing market conditions must be achieved without undermining monetary discipline.
Recent data from the Bank of Ghana’s Monetary Policy Report indicate a gradual softening in credit conditions, with average lending rates declining from 26.6 per cent to 24.2 per cent.
Money market yields have also eased, as the 91-day Treasury bill rate fell from 13.4 per cent in July to 10.3 per cent in August 2025.
Dr Asiama further pointed to Ghana’s strengthening external buffers, disclosing that gross international reserves have climbed above $13.8 billion, the highest level recorded in the country’s history.
He assured that the central bank would continue to work closely with the Ministry of Finance and other stakeholders to maintain monetary stability, while expanding access to affordable credit to support growth and economic activity.
Latest Stories
-
AU Chairperson reaffirms commitment to global African unity
4 minutes -
Air Pollution in Accra is not random; it is a burden carried by the poor
11 minutes -
GEXIM Bank grows loan portfolio to GH¢1.56bn as equity hits GH¢2.1bn in 2025 – SIGA Report
29 minutes -
Ghana Shippers’ Authority grows surplus by 272% as assets reach GH¢979.92m
36 minutes -
Government designates 13 blocked-out areas for small-scale mining to curb illegal mining
37 minutes -
Number of advertised jobs increased significantly in half-year 2026 – BoG
38 minutes -
GAFM demands retraction from GTEC over ‘unrecognised universities’ listing
44 minutes -
Saltpond residents renew call for return of Founders’ Day celebrations
47 minutes -
Consumer spending records mixed performance in 5-months of 2026, but manufacturing activities improved – BoG
50 minutes -
Passenger arrivals at airport increased by 3.7% in 5 months of 2026
55 minutes -
NSMQ 2026: St. Augustine’s College reach third straight semifinal after seeing off Aburi Girls, St. John’s Grammar
58 minutes -
Re: Mahama backs crackdown on airport workers begging visitors for tips
59 minutes -
Photos: 6th Akwasidae Festival in the U celebrates Asante heritage and Ghanaian unity
60 minutes -
Ghana, India explore armwrestling collaboration as Golden Arms prepare for World Armwrestling Championship in New Delhi
1 hour -
What Is Wrong With Us: We sign off on value for money before we have even defined it
1 hour