At its Governor’s New Year media engagement, the Bank of Ghana’s First Deputy Governor, Dr. Zakari Mumuni, set out how media coverage of central bank actions can shape expectations and market behaviour and urged journalists to report the Bank’s operations with accuracy, balance and context, including when covering exchange-rate movements and central bank losses. He noted that Ghana operates a managed floating exchange rate regime and that small daily movements in the cedi are normal, warning that reporting without context can trigger fear-driven behaviour, unnecessary surges in foreign currency demand and higher volatility. The remarks linked currency stability to more predictable prices and planning for households and businesses, and pointed to the cedi ending 2025 significantly stronger alongside sharply lower inflation and rebuilt reserves. On central bank losses, he stressed that losses can arise globally from policy actions taken to stabilise economies, and argued that reporting should distinguish between these outcomes and financial recklessness.
Bank of Ghana 2026-01-16
Bank of Ghana calls for contextual media reporting to avoid amplifying foreign exchange market volatility
At the Governor’s New Year media engagement, the Bank of Ghana’s First Deputy Governor, Dr. Zakari Mumuni, emphasized media coverage's impact on market behaviour and urged accurate reporting of the Bank’s operations. He highlighted the importance of context in reporting exchange-rate movements and central bank losses, noting Ghana's managed floating exchange rate regime allows normal small daily cedi movements. Dr. Mumuni linked currency stability to predictable prices and planning, citing the cedi's strength at the end of 2025 and reduced inflation.