Asantehene Warns BoG Against Neglecting Interest Rates

The Occupant of the Golden Stool, Otumfuo Osei Tutu II, has issued an alert about the seeming neglect of interest rates, with exchange rates ‘unavoidably’ overshadowing attention.

His Majesty, during a visit to the Bank Square on January 7, 2026, reminded the management, Board of Directors and the Monetary Policy Committee (MPC) of the similarly urgent attention needed for the interest rate.

“I hope the unavoidable attention being paid to the cedi does not mean we are relegating the second mandate of the Bank, which has to do with interest rates.”

His Majesty highlighted that the prevailing interest rate was harmful to the economy.

While falling on precedents, Otumfuo suggested that the Bank accelerate the pace of interest rate reduction.

The Asantehene posited that no amount of government intervention or international investment guaranteed development like domestic private investment.

As such, His Majesty said the current interest rate is an enemy to this investment.

“The challenge I leave with your creative brains is to fashion how you move the economy from the crippling high-interest regime to a level where it becomes a stimulant of business and wealth creation.”

Story by Hajara Fuseini

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