The governor of the Central Bank of Ghana has resigned. Sources close to Pulse Business say he resigned out of personal reasons
His resignation takes effect from the 1st of April, 2017.
Sources close to Pulse Business say, the reasons behind his resignation are personal.
Under former President, John Mahama’s administration,Dr. Issahaku assumed office in April 2016 after his predecessor Dr. Henry Wampah resigned.
Dr. Issahaku’s administration was faced with rising inflation as well as instability of the cedi.
He has however been positive about the performance of the cedi, this he expressed to the media in his last monetary policy committee (MPC) press conference.
During that meeting he also announced a 200 basis point cut. This move resulted in the bank’s policy rate dropping from 25.5% to 23.5%
The drop was attributed to the decrease in inflationary trends among others.
“The Committee noted that underlying inflation pressures have eased considerably and inflation is projected to trend downwards the medium term target of 8 plus or minus 2 percent”.
The policy rate is the rate at which commercial banks borrow from the Bank of Ghana (BoG) for onward lending to their customers.