Speaking at an investor engagement in Bangkok, Thailand, Dr Asiama said the risks confronting Ghana’s economy were largely external, citing movements in the US dollar and gold prices, tighter financing conditions, and the anticipated effects of El Niño.
He was addressing institutional investors, brokers and fund managers at an event organised by Standard Bank at the Conrad Hotel, on the sidelines of the annual IMF/World Bank meetings.
Dr Asiama said external pressures had influenced the Monetary Policy Committee’s unanimous decision in September to hold the policy rate at 14 per cent. Members cited external risks and concerns about rising inflation among the reasons for maintaining the rate.
With uncertainty persisting, he said the central bank was closely monitoring international developments to assess their implications for Ghana’s economy and the committee’s next decision.
The Governor also pointed to the US midterm elections in November as a development whose potential impact required attention. He told investors that, following a recent meeting, he had asked his staff to assess what could happen after the elections.