Ghana to hit single digit inflation early next year – BoG

Business News of Tuesday, 8 August 2017

Source: atinkaonline.com

2017-08-08

play videoDr. Ernest Addison, Governor of the Bank of Ghana(BoG)

The Governor of the Bank of Ghana (BoG), Dr. Ernest Kwamena Addison has said the country is likely to hit a single digit inflation early next year following government’s agenda put in place.

Speaking at the day 2 of the Ghana Economic Forum in Accra under the theme: “Building stronger banks for a stronger economy’, Dr. Addison said, the bank of Ghana is currently building a financial consumer framework for the country.

“Banks are expected in this new policy framework to take advantage of the improved macroeconomic environment to support the growth agenda of the government”

Dr. Ernest Addison also hinted that the central bank will strictly implement the new capital requirement for banks in the country.

According to him, the bank will depart from the practice where the new capital requirement is just announced and banks are left not to meet it.

“The Bank of Ghana will soon increase the minimum capital requirement of banks from the current 120 million cedis to what some industry watchers predict will be around 250 million cedis”.

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