Ghana news briefing
BoG ends GoldBod prefinancing arrangement
The Bank of Ghana (BoG) has announced the cessation of its prefinancing arrangement for the Ghana Gold Board's (GoldBod) gold purchases, a move expected to significantly alter domestic liquidity conditions and influence the country's monetary policy framework.
The Governor explained that the Monetary Policy Committee will assess how the move has affected liquidity conditions, monetary policy transmission and broader macroeconomic outcomes as it deliberates on the appropriate policy stance.
The decision comes at a time when the Bank of Ghana is also reviewing the effectiveness of recent monetary policy measures, including the introduction of a uniform 20 percent Cash Reserve Ratio for banks.
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