The Vice President, Alhaji Dr. Mahamudu Bawumia, has sworn in new members of the Board of Bank of Ghana with a call on them to also look at policy impact on economic growth even as they focus on the Bank’s core mandate of price stability.
Speaking at the inauguration ceremony held at the Bank on Wednesday, the Vice President stressed that the basic function of the Board is to assist the Bank to perform its core mandate of price stability and to do this in the context of its independence as an institution.
He emphasised the need for the Board to work assiduously so that the financial sector can play its responsible role, “crowding in the private sector to get access to credit affordably, which means that we have to really think seriously about bringing interest rates down”.
The Vice President recognized the Bank’s efforts at bringing the policy rate down and said: “While we achieve macroeconomic stability, we expect the decline in the policy rate to also be transmitted to lending rates in the country among the banks”.
Members of the Board are the Governor, Dr. Ernest Addison as the Chairman, First Deputy Governor Dr. Maxwell Opoku-Afari, Second Deputy Governor Dr Johnson P. Asiama, Mr. Charles Adu-Boahen, Dr. Sr. Eugenia Amporfu, Mr. Keli Gadzekpo, Dr. Kwame Owusu-Nyantekyi, Dr. Samuel Nii Noi Ashong, Mr. Jude Kofi Bucknor, Mr. Joseph B. Alhassan, Mr. Andrew Boye-Doe, Dr. Maria Hagan and Mrs Comfort Ocran