{
  "id": 9575752,
  "title": "FX interventions are rules-based, not discretionary-BoG",
  "url": "https://urgent.news/2026/09/24/fx-interventions-are-rules-based-not-discretionary-bog-9575752",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T15:17:49.000Z",
  "source": {
    "name": "Joy Business",
    "slug": "joy-business",
    "url": "https://www.myjoyonline.com/fx-interventions-are-rules-based-not-discretionary-bog/"
  },
  "original_language": "en",
  "account": "The Governor of the Bank of Ghana, Dr. Johnson Asiama, has clarified that the central bank's foreign exchange market interventions are carried out based on a clear, rules-based framework and not at the Governor's discretion. This framework, implemented last year, outlines specific conditions under which the Bank of Ghana should intervene in the foreign exchange market. Speaking at the 132nd MPC press briefing, Dr. Asiama emphasized that the framework is designed to guide the Bank's operations while allowing market forces to determine the exchange rate. He reiterated that it is not his prerogative to intervene on a discretionary basis; rather, it is a system that determines the need for intervention. The framework comprises three key segments: reserve accumulation, intervention, and intermediation. Currently, the Bank is working towards a transition, with the Ghana Gold Board (GoldBod) set to play a more significant role in the intermediation segment. Dr. Asiama assured market participants that the Bank of Ghana remains committed to its intervention role, but stressed that its primary objective is to build adequate foreign exchange reserves. This objective is crucial for the country's resilience. The Governor's remarks follow the Bank's management of foreign exchange market conditions under its new FX operations framework, introduced in November 2025. This framework promotes a rules-based approach, allowing exchange rates to be determined by market forces while mitigating excessive short-term volatility. Previously, Dr. Asiama stated that the Bank did not engage in direct foreign exchange market interventions between August 2024 and December 2025. Instead, it relied on foreign exchange intermediation through the Domestic Gold Purchase Programme.",
  "summary": "The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, says the central bank’s interventions in the foreign exchange market are guided by a clear, rules-based framework and are not undertaken at the Governor’s discretion. He explained that the framework, introduced last year, provides defined conditions for when the Bank of Ghana should intervene […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "FX interventions are rules-based, not discretionary-BoG",
        "url": "https://urgent.news/2026/09/24/fx-interventions-are-rules-based-not-discretionary-bog",
        "published": "2026-09-24T15:17:49.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}