Addressing Parliament on Thursday, July 23, 2026, during the presentation of the Mid-Year Budget Review, Dr. Forson emphasized that inflation cannot be controlled by central bank actions alone, given the significant impact of government spending on broader market prices
"The amendment to the Bank of Ghana Act makes inflation management a shared responsibility between the fiscal and monetary authorities," Dr. Forson stated. "This reform is aimed at ensuring stronger policy coordination and safeguarding macroeconomic stability."
The revised legislative framework creates a structured mechanism to align the operations of the Ministry of Finance and the Bank of Ghana. By binding both institutions to a common inflation target, the reform aims to eliminate conflicting policy directions, enhance fiscal discipline, and improve institutional accountability.
Underlining that economic policies must deliver concrete outcomes, the Finance Minister expressed confidence that tighter policy coherence will reinforce Ghana's long-term economic resilience and protect households from inflation shocks.
