The euro fell against the dollar and investors braced for a bumpy ride on Monday as Italy appeared headed for a period of political and financial turmoil. Prime Minister Matteo Renzi announced early Monday that he would resign after his program of constitutional reform was rejected by Italian voters by a clear majority in a … Read more
Structural reforms rather than debt relief will help Greece to achieve sustainable growth and stay in the euro zone because rates and repayment are putting hardly any burden on its budget, Gerany’s finance minister was quoted as saying on Sunday. Euro zone finance ministers will meet in Brussels on Monday to discuss short-term measures to … Read more
The cedi could be in for its toughest test this time in the year, as seasonal demand for the US dollar by importers, and the uncertainties surrounding the impending elections have begun to unsettle it somewhat. At a year-to-date depreciation of 4.6 percent, the careworn currency has demonstrated rare resilience, but an analysis of the … Read more
The Monetary Policy Committee of the Bank of Ghana (BoG) on Monday reduced the policy rate to 25.5 percent from 26 percent. Even though commercial banks were praying for 100 basis points reduction, the 73rd regular MPC meetings reduced it by 50 basis points. Dr. Abdul Nashiru Isahaku, Governor of the Bank of Ghana, told … Read more
As the Monitory Policy Committee of the central bank meets today, expectations of a policy rate cut are high, as the IMF programme appears to have impelled a modicum of prudence in macroeconomic management, with inflation and the cedi sliding less than it was feared when the year begun. The MPC will either maintain the … Read more
The European Commission has warned that eight eurozone countries, including Italy, are at risk of breaking EU rules because of excessive budget deficits. Under EU rules, member states are not supposed to run annual deficits greater than 3% of their total economic output. But the Commission, which has the power to oversee eurozone countries’ draft … Read more
The U. S. dollar hit an 11-month peak on Monday as the risk of faster domestic inflation and wider budget deficits if Donald Trump goes on a U.S. spending binge sent Treasury and other benchmark global bond yields ever higher. It was a painful mix for assets in many emerging market countries. Currencies from the … Read more
A wave of selling sweeping across bond markets resumed on Monday as investors continued to digest the impact of a Donald Trump presidency. US and European bond prices have sunk in expectation that he will enact inflationary policies that speed the pace of interest rate rises. On Monday, some bond yields – which rise as … Read more
A searing selloff rocked Asian shares and emerging market currencies on Friday as investors feared higher U. S. interest rates under incoming President Donald Trump will spark capital outflows from the region. European shares are expected to open slightly higher after moderate losses in the previous session, with spread-betters seeing major European indexes, such as … Read more
The Institute of Certified Economists of Ghana, has ruled out any likely effect on the performance of the cedi against the dollar in the short to medium term following the election of a new President in the US. Global markets including currency markets were rattled after Donald Trump was elected the 45th President of the … Read more
The Institute of Certified Economists of Ghana, has ruled out any likely effect on the performance of the cedi against the dollar in the short to medium term following the election of a new President in the US. Global markets including currency markets were rattled after Donald Trump was elected the 45th President of the … Read more
The European Union yesterday edged up its eurozone growth forecast for this year but trimmed it for 2017, warning that the economy faced new challenges due to Brexit and rising inequality. Brussels also nearly halved its economic growth outlook for Britain itself next year due to uncertainty over the country’s vote to leave the bloc. … Read more
A founding father of monetary union has given a damning assessment of the euro bloc, saying that not incorporating an exit strategy was a mistake. Prof Otmar Issing told the BBC’s Wake up to Money that faultlines across the eurozone remain, citing economic weakness in Greece, Portugal and Italy. The European Central Bank’s first chief … Read more
Wall Street recovered some losses on Friday but still closed lower, with U. S. stocks and the dollar falling after the Federal Bureau of Investigation said it would probe additional emails related to Democratic presidential candidate Hillary Clinton’s use of a personal email server while secretary of state. The dollar slipped against major currencies, including … Read more
World markets had a swagger about them on Tuesday as upbeat economic data and signs of a revival in inflation pushed up stocks and commodity prices and kept the dollar at a nine-month high. Factory surveys in the United States and Europe had boasted the best readings of the year so far on Monday and … Read more
The dollar hit a nine-month high against a basket of currencies on Monday, buoyed by expectations that the Federal Reserve will raise U. S. interest rates this year and that Donald Trump will not become the U.S. president. After three straight weeks of gains, the dollar index – which tracks the greenback against a basket … Read more
Global stocks were set for their first weekly gain in four weeks on Friday and the dollar rose to its highest since March, as the euro came under pressure after the European Central Bank shot down talk of tapering its easy money stance. The euro hit its lowest against the dollar since March after the … Read more
The dollar was steady in early trading on Thursday, as investors awaited the final debate before next month’s U. S. presidential election as well as a European Central Bank meeting later in the day. While most recent opinion polls favour Democrat Hillary Clinton, Republican presidential nominee Donald Trump will try to use the third and … Read more
The fall in the value of sterling has acted as an important “shock absorber” for the economy, according to Bank of England deputy governor Ben Broadbent. He told BBC Radio 5 live that having a flexible currency was “extremely important” to cope with shocks. “In the shape of the referendum, we’ve had exactly one of … Read more
The Ghana cedi is projected to sell at a higher amount in relation to other major currencies on the global interbank market, Groupe Nduom (GN) Research has predicted. According to the analyses by GN Research, published in its economic outlook report for the fourth quarter, the cedi was estimated to be sold at “GHS4.00, GHS5.04 … Read more