The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama has urged members of the Monetary Policy Committee (MPC) to join the push to open up their workings so the public can appreciate the outcome of their work and decisions.

Dr. Asiama today, March 24, 2025 chaired his first meeting, opening the committee meeting to the media.

“We want the public to appreciate what we do and how we make our decisions. It’s right to open up our work”, he explained.

He assured that the committee will do all it can to build public confidence and ensure transparency.

“That is why I am proposing that the minutes of this meeting should be published as well as how every member voted when it comes to the policy rate”, he stressed.

Highlighting the importance of the decision to make its committee activities public, Dr. Asiama said the move will remove all doubts and show how data is used by the committee in its work.  

“There is a growing sense in the public that MPC decisions are taken behind closed doors without clear, data-driven reasoning”.

“I am proposing that we implement mechanisms to make the committee’s decision factor more accessibility, by publishing voting outcomes and enhancing the narrative of our policy statements”, he said.

He also advocated a simplified way of presenting its recommendations to enable market players and the public appreciate decisions of the committee.

 “The way we present the forecast must be simplified to the public and market participants to appreciate and understand”.

Dr. Asiama said this, when he formally opened the 123rd Monetary Policy Committee meeting at the new Bank of Ghana Headquarters in Accra.

The meeting, which starts today March 24, 2025 is expected to end on Wednesday March 26.

The committee is expected to engage the media on Friday March 28 to announce its decision.

The meeting will focus on various presentations on key sectors of the economy, prepared by some of the staff of the bank.