In opening remarks at a post-Monetary Policy Committee engagement with bank CEOs, the Bank of Ghana set out operational plans to start foreign exchange intermediation under the Domestic Gold Purchase Programme from October 2025, alongside a recap of the latest monetary easing and near-term supervisory priorities. The Bank plans to sell up to USD 1.15 billion in October through twice-weekly, price-competitive spot auctions open to all licensed banks, with no conditions or earmarking for allocations, and with auction volumes adjustable to market conditions. The remarks also referenced the MPC’s decision at its 126th meeting to cut the policy rate by 350 basis points to 21.5 percent, and noted early transmission via lower Treasury bill rates and reduced average lending rates. On banking supervision, the Bank highlighted recently introduced prudential measures including the Bancassurance Directive, the Large Exposures Directive and Guidelines on Credit Concentration Risk Management, extended the transition period for the Outsourcing Directive to end-December 2025 as a final extension, and flagged forthcoming exposure drafts covering Liquidity Risk Management, Interest Rate Risk in the Banking Book, Stress Testing and Recovery Planning. FX intermediation under the programme is set to commence in October 2025, while banks are expected to achieve full compliance with the Outsourcing Directive after the end-December 2025 transition deadline.
Bank of Ghana 2025-10-07
Bank of Ghana to begin FX spot auctions under Domestic Gold Purchase Programme with up to USD 1.15 billion for October
The Bank of Ghana plans to start foreign exchange intermediation under the Domestic Gold Purchase Programme in October 2025, selling USD 1.15 billion through spot auctions. The Monetary Policy Committee cut the policy rate by 350 basis points to 21.5%, with early effects seen in lower Treasury bill and lending rates. New prudential measures were introduced, and the transition period for the Outsourcing Directive was extended to end-December 2025.