At the 128th Monetary Policy Committee (MPC) press briefing, Governor of the Bank of Ghana, Dr. Johnson Asiama, announced a development that is already being felt by businesses and individuals alike: commercial banks are now actively reaching out to offer loans, often at substantially lower interest rates.
“Banks are beginning to call clients if they need loans,” Dr. Asiama shared, recounting a recent conversation where a customer was offered a loan at just 15 percent interest. For many, it’s an unexpected but welcome change, one that signals the banking sector’s renewed confidence and improving liquidity conditions.
This lending enthusiasm comes on the heels of the Bank of Ghana’s latest move to cut the Monetary Policy Rate (MPR) by 250 basis points, from 18 percent to 15.5 percent. The decision, following the MPC’s 128th meeting in Accra, marks the central bank’s first policy action for 2026 and continues a trend set by a major rate reduction in November 2025.
According to Dr. Asiama, the shift in lending dynamics is a direct result of stronger balance sheets and improved liquidity among banks. The monetary easing, prompted by easing inflation and better macroeconomic conditions, is designed to support economic growth while maintaining price stability.
“GDP growth is expected to remain strong in 2026, with the output gap narrowing,” the Governor explained. He acknowledged that moderate demand-side pressures could emerge, but assured that monetary conditions remain tight enough to keep inflation in check.
Dr. Asiama emphasized that sustaining Ghana’s economic progress will require disciplined fiscal management, effective policy coordination, and targeted measures to contain food inflation, while staying alert to global risks.
With banks now competing for borrowers and credit becoming more accessible, there is growing optimism that the private sector will pick up pace, spurring renewed investment, higher consumption, and robust economic growth in the months ahead.
Source: Apexnewsgh.com
