Bank of Ghana urges responsible reporting as inflation hits four-year low

Bernard Otabil is the Director of Communications of the BoG

Ghana’s inflation has dropped to a four-year low of 9.4 percent, placing it firmly within the central bank’s target band of 8 plus or minus 2 percent, a milestone the Bank of Ghana (BoG) says reflects growing stability and investor confidence in the economy.

Speaking at a media training workshop in Sunyani for journalists from the Bono, Ahafo, and Bono East Regions, the Director of Communications of the BoG, Bernard Otabil, said the achievement underlines the effectiveness of the bank’s monetary policies under the leadership of Governor Dr Johnson Pandit Asiama.

“The economic story of Ghana today is interesting reading, – low and stable inflation, interest rates falling, high reserve accumulation, stable currency and strong confidence in the outlook,” he said.

Otabil cautioned that the media’s role in shaping public opinion is crucial to sustaining this progress.

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“But we can undo all these gains as journalists if we set the wrong agenda about what we report on and not consciously promote the positives within the Ghanaian economy,” he warned.

He also noted that the Bank of Ghana has introduced several new measures to strengthen engagements with the media and promote transparency.

“Again, Governor Asiama has introduced the release of the individual submissions of members of the MPC to the public. This is a practice never done in Ghana since the country adopted the inflation-targeting framework in 2007,” he added.

Bernard Otabil urged journalists to approach their work with integrity and patriotism.

“We must mean well for the country, eschew diabolical interests that would hurt the country, and stay on the course of patriotism regardless of the difficulties we face,” he said.

The event forms part of the bank’s ongoing regional media training programme aimed at enhancing financial literacy and strengthening responsible economic reporting across the country.

FKA/AE

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