BoG calls for people-centred reporting of monetary policy
The Bank of Ghana (BoG) has called on journalists to make monetary policy reporting more relatable by linking policy decisions to their impact on households and businesses.
The Bank said clearer and more accessible reporting would help improve public understanding of monetary policy and support informed economic decision-making.
Mr Bernard Otabil, Director of Communications at the Bank of Ghana, made the call at the opening of a three-day training workshop for members of the Bank’s Press Corps in Accra.
The workshop, being held from October 19 to 21, forms part of the Central Bank’s efforts to strengthen the capacity of journalists to interpret and report Monetary Policy Committee (MPC) decisions.
Mr Otabil said monetary policy communication was most effective when the public understood and trusted the information being conveyed.
He encouraged journalists to translate technical policy decisions into stories that reflected the experiences of ordinary Ghanaians.
“We believe monetary policy is most effective when it is understood, trusted and accurately communicated,” he said.
Mr Otabil noted that many readers focused on headlines rather than detailed policy reports and therefore depended on the media for accurate interpretation of economic developments.
“Accuracy, therefore, is not just a professional virtue; it is an economic asset,” he said.
Mr Otabil cautioned against sensational reporting, saying inaccurate headlines on inflation, exchange rates or policy rates could fuel speculation, trigger panic and affect economic behaviour.
He also called for reporting grounded in verification, balance, context and clarity, describing those principles as essential safeguards against misinformation and disinformation.
“Misinformation and disinformation are no longer peripheral concerns.
“From deepfakes to AI-generated market rumours, from social media amplification to coordinated disinformation campaigns targeting currencies, no central bank and no country is immune. This is a global phenomenon,” he said.
Mr Otabil described credibility as journalism’s most valuable asset and advised journalists not to sacrifice professional standards for speed, sensationalism or short-term commercial gains.
“Ethical standards anchor expectations, protect savings, safeguard economic stability and help Ghanaians make informed choices,” he said.
Mr Otabil reaffirmed the Bank’s commitment to strengthening engagement with the media through training, information sharing and improved access to credible data.
The initiative includes engagement with regional press corps, an Editors’ Forum, dedicated information-sharing platforms and the Governor’s Economic and Financial Story of the Year Award.
Participants will receive training in ethical reporting, interpretation of MPC decisions, financial journalism and communication of monetary policy.
Sessions will also cover the Bank’s regulatory mandate, its balance sheet, monetary policy statements, the Domestic Gold Purchase Programme, foreign exchange market developments, inflation trends and monetary policy transmission mechanisms.
Mr Suleiman Mustapha, National Organising Secretary of the Ghana Journalists Association (GJA), commended the Bank of Ghana for investing in the development of business, economic and financial journalists.
He said economic journalism involved explaining how policy and market developments affected households, businesses, investors and the wider economy.
Mr Mustapha said journalistic independence remained essential, adding that journalists had a responsibility to scrutinise policies, verify information and hold institutions accountable in the public interest.
He encouraged journalists to apply the knowledge acquired during the training to improve the quality of economic reporting.
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