Food inflation hits 6.7%, says Bank Governor
He mentioned that inflationary pressures have resurfaced in recent months. Headline inflation rose to 7 per cent in April 2026 from 6.4 per cent in January, driven largely by increases in food, transport and energy prices. Also, the Governor said The Gambia’s current account deficit widened to US$20.83 million in the first quarter of 2026, driven by rising imports of fuel, cereal, vehicles, and printing materials. “Despite this, remittance inflows jumped by 17.2 percent to US$246.08 million, offering critical support to the economy,” the governor stated, saying the dalasi remained “broadly stable” against major currencies, cushioning external shocks. The banking sector was described as stable, with customer deposits rising by 20 per cent to D84.2 billion in the first quarter, according to the MPC report presented by Governor Saidy. Veering unto digital finance, Governor Saidy explained that mobile money and digital financial services continued their upward trajectory, reflecting the growing role of technology in financial inclusion. He said that while inflationary pressures and a widening deficit pose risks, strong remittance inflows, currency stability, and banking sector growth provide resilience. Policymakers remain focused on balancing external vulnerabilities with domestic financial stability, he added. He indicated that the global economy is expected to slow down in 2026 as rising geopolitical tensions, higher energy prices, and uncertainty continue to affect trade and investment. "The International Monetary Fund projects global growth at 3.1 percent in 2026, slightly lower than earlier forecasts," he added. The CBG Governor emphasised that despite these global challenges, the Gambian economy was described as “resilient”, supported by strong performances in tourism, construction, trade and financial services. The Central Bank projected the country’s real GDP growth at 5.7 per cent in 2026, though this “represents a slight downward revision” due to external pressures linked to the Middle East conflict. Governor Saidy said the committee assessed both domestic and international economic conditions before deciding to keep the benchmark interest rate unchanged. Thus, the CBG decided to maintain its Monetary Policy Rate (MPR) at 14 per cent, citing rising global uncertainties, inflationary pressures and geopolitical tensions linked to the ongoing conflict in the Middle East.
Black News 
He mentioned that inflationary pressures have resurfaced in recent months. Headline inflation rose to 7 per cent in April 2026 from 6.4 per cent in January, driven largely by increases in food, transport and energy prices.
Also, the Governor said The Gambia’s current account deficit widened to US$20.83 million in the first quarter of 2026, driven by rising imports of fuel, cereal, vehicles, and printing materials.
“Despite this, remittance inflows jumped by 17.2 percent to US$246.08 million, offering critical support to the economy,” the governor stated, saying the dalasi remained “broadly stable” against major currencies, cushioning external shocks.
The banking sector was described as stable, with customer deposits rising by 20 per cent to D84.2 billion in the first quarter, according to the MPC report presented by Governor Saidy.
Veering unto digital finance, Governor Saidy explained that mobile money and digital financial services continued their upward trajectory, reflecting the growing role of technology in financial inclusion.
He said that while inflationary pressures and a widening deficit pose risks, strong remittance inflows, currency stability, and banking sector growth provide resilience.
Policymakers remain focused on balancing external vulnerabilities with domestic financial stability, he added.
He indicated that the global economy is expected to slow down in 2026 as rising geopolitical tensions, higher energy prices, and uncertainty continue to affect trade and investment. "The International Monetary Fund projects global growth at 3.1 percent in 2026, slightly lower than earlier forecasts," he added.
The CBG Governor emphasised that despite these global challenges, the Gambian economy was described as “resilient”, supported by strong performances in tourism, construction, trade and financial services. The Central Bank projected the country’s real GDP growth at 5.7 per cent in 2026, though this “represents a slight downward revision” due to external pressures linked to the Middle East conflict.
Governor Saidy said the committee assessed both domestic and international economic conditions before deciding to keep the benchmark interest rate unchanged.
Thus, the CBG decided to maintain its Monetary Policy Rate (MPR) at 14 per cent, citing rising global uncertainties, inflationary pressures and geopolitical tensions linked to the ongoing conflict in the Middle East.
