Ghana’s newly appointed central bank governor, Johnson Asiama, acknowledged on Monday that the country’s inflation, currently above 23%, remains “uncomfortably high” and requires urgent action through monetary policy.
The Bank of Ghana aims for an inflation target of 8%, with a permissible range of 2 percentage points on either side. Inflation peaked at over 54% in 2022 and was recorded at 23.1% in February.
“Our focus in the coming days will be to adopt a policy stance that supports the path toward lower inflation while ensuring we do not disrupt the economic recovery or destabilize market expectations,” Asiama said ahead of his first monetary policy meeting.