Handle banknotes with care; don't staple, crumple, or write on them - Governor Asiama urges
Preserving the integrity of the banknotes is not the function of the Bank of Ghana alone.
Dr Johnson Pandit Asiama, Governor of the Bank of Ghana (BoG), has emphasized the importance of handling banknotes with care and not engaging in practices such as stapling, crumpling, or writing on them. He stressed that the responsibility of preserving the integrity of the banknotes lies with all stakeholders, not just the BoG.
This message was delivered during the 132nd Monetary Policy Committee press conference in Accra on September 24, alongside the introduction of the Ghana Cedi Heritage Series. Asiama advised traders and the public to avoid using banknotes for money bouquets, showers, or spraying at events. As part of the new series, certain banknotes will undergo upgrades on November 3rd.
The Monetary Policy Committee (MPC) maintained the policy rate at 14%, citing headline inflation at 5% in August, which is below the 8±2% band. Despite domestic cost pressures in housing, transport, and services, exchange rate stability has helped mitigate imported inflation, and expectations have eased across all surveyed groups.
The average banking lending rate dropped by 15.9%, and private sector credit growth rebounded. The banking sector remains solvent, profitable, and liquid, with a Non-Performing Loan Ratio declining to 15.7%. Dr Asiama also noted that global tensions have constrained global supply chains but acknowledged the economic resilience of the domestic economy, which prompted the committee to unanimously maintain the policy rate at 14%.
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