Governor of the Bank of Ghana, Dr Johnson Asiama, has expressed confidence in the stability of the Ghana cedi, stating that the central bank expects to avoid sharp fluctuations in the currency despite ongoing global uncertainties.
Addressing the issue during the 129th Monetary Policy Committee press briefing, the Governor said the Bank’s current policy stance and market framework should help maintain exchange rate stability.
“All we can tell you is we think we’ll be able to avoid excessive volatility in the cedi,” he noted.
However, Dr Asiama cautioned that this outlook is contingent on global developments, particularly geopolitical tensions in the Middle East.
He warned that a prolonged crisis could disrupt global markets, especially through higher oil prices, which could in turn affect Ghana’s exchange rate and broader macroeconomic stability.
“Barring any unforeseen shock such as persistence in the Middle East crisis and its potential impacts, we should be able to maintain exchange rate stability,” he added.
The Governor indicated that the central bank is also considering measures to limit the pass-through effects of external shocks on the domestic economy.
These measures are expected to focus on managing inflationary pressures and cushioning the impact of global price increases on households and businesses.
While specific interventions have not yet been announced, the Bank signalled readiness to act if external conditions worsen.
The assurance comes as the central bank continues to prioritise price and exchange rate stability as part of its core mandate.
With global conditions still evolving, the Bank of Ghana says it will closely monitor developments and adjust policy tools where necessary to protect the cedi and sustain macroeconomic gains.
The Governor’s remarks underscore cautious optimism within the central bank, balancing confidence in current policy effectiveness with vigilance against external shocks that could disrupt Ghana’s economic stability.
