Collins Sefa The Asantehene, Otumfuo Osei Tutu II, has urged the Bank of Ghana (BoG) to pursue a path toward lower interest rates to stimulate business expansion, boost private-sector investment, and support job creation.
Speaking during his first official visit to the Bank of Ghana’s new headquarters in Accra on Wednesday, the Asantehene acknowledged recent stability in the foreign exchange market but cautioned that sustained economic recovery would remain elusive if high borrowing costs continue to stifle industry and enterprise growth.
He emphasised that while currency stability is essential, it must be complemented by prudent monetary policy, particularly effective interest rate management, to create a conducive environment for sustainable economic growth.
Otumfuo Osei Tutu II also called for strong political backing for the central bank, stressing the need for the Bank of Ghana to operate independently and professionally in the execution of its mandate.
Describing the newly inaugurated New Bank Square as a symbol of national confidence and institutional renewal, the Asantehene said the facility should inspire higher standards of professionalism, efficiency, and accountability among staff of the central bank.
“This building is not just an edifice of concrete and glass; it is a symbol of the authority, responsibility, and enduring mandate of the Bank of Ghana,” he said.
He expressed confidence that the modern infrastructure would enhance policy coordination, research capacity, and decision-making, ultimately strengthening the Bank of Ghana’s ability to safeguard macroeconomic stability and support Ghana’s long-term economic development.
