“Sustained oil price increases raise the risk of imported inflation, which could necessitate policy tightening with implications for financial conditions,” he stressed. Dr Asiama also drew attention to the Ghana Accelerated National Reserve Accumulation Programme (GANRAP), aimed at raising reserves to 15 months of import cover by 2028. On domestic financial stability, he emphasised the soundness of the banking sector. This matters not only for financial stability, but also for the effectiveness of monetary policy,” Dr Asiama said. Dr Asiama urged MPC members to make decisions that would sustain progress and guide policy through uncertain times.
