Federal Reserve Chair Janet Yellen said Wednesday she still foresees only “gradual” interest rate increases in the few years ahead, as the US economy grows stronger and employment expands. Key question marks remain however about how the economic outlook will play out, and possible shifts in policy and spending by President Donald Trump’s administration are … Read more
Research wing of Groupe Nduom (GN) conglomerate, GN Research, has stressed that reductions in the Monetary Policy Rate (MPR) will continue to have marginal effect on commercial bank rates so far as bank specific factors that are considered in the determination of commercial bank’s rates do not improve. Key among these factors, GN Research disclosed … Read more
The Federal Reserve said Friday it sees hopeful signs that business investment is poised to rebound from the doldrums of the global financial crisis and boost the US economy. But, in its semi-annual report to Congress, the central bank restated its view that the benchmark interest rate should rise only gradually as the economy picks … Read more
US job creation returned with a roar in June, offering a dose of welcome news to the White House and offsetting fears of a slowing economy, official figures showed Friday. Still, the robust employment report came amid persistently sluggish wage gains while the jobless rate ticked higher — with more people returning from the sidelines … Read more
US central bankers are divided over the risk of inflation and disagree over the timing of interest rate hikes into next year, minutes of the last Federal Reserve meeting showed Wednesday. Monetary policymakers were likewise split on the timeframe for winding down the Fed’s multi-trillion-dollar investment holdings, with some arguing the central bank should announce … Read more
US central bankers are divided over the near-term risk of inflation and disagree over the timing of interest rate hikes into next year, minutes of the last Federal Reserve meeting showed Wednesday. Monetary policymakers were also divided on the timeframe for winding down the Fed’s multi-trillion-dollar investment holdings, with some arguing the central bank should … Read more
Hisham Gaber had been preparing his wedding for months, but started to have second thoughts as inflation in Egypt rocketed due to government austerity measures, including sharp increases in fuel prices. “Marriage and handling the additional burdens in these conditions have become an unsound decision,” said the 28-year-old engineer. The government on Thursday announced an … Read more
The Federal Reserve’s preferred measure of inflation retreated in May, casting further doubt on the chances for another interest rates increase this year, according to Commerce Department data released Friday. The report also showed a slowdown in consumer spending last month, which could be a drag on economic expansion in the second quarter. The Personal … Read more
New claims for US jobless benefits edged slightly higher in mid-June, but the record streak of low levels continued, indicating the labor market remains tight, the Labor Department reported Thursday. The results suggested the overall jobless rate may remain near its current 16-year low of 4.3 percent because Thursday’s figures were collected the same week … Read more
Inflation for the month of May 2017 dropped marginally to 12.6 per cent as against the 13 per cent recorded in April 2017. This is the lowest inflation rate since December 2013. The monthly change rate in the May 2017 inflation was 0.7 per cent while that of April 2017 was 1.6 per cent. Inflation … Read more
Nigeria’s troubled economy will record tremendous improvement by the third quarter of the year, the Central Bank of Nigeria (CBN), has predicted. The Director of Banking Supervision of CBN, Mr Ahmed Abdullahi, told newsmen that the prediction was the outcome of the 333rd Bankers’ Committee meeting in Lagos. According to him, this is because the … Read more
Falling US gasoline prices drove inflation and retail sales down in May, defying expectations and raising more questions about the economy and the pace of interest rate increases this year. The government data released Wednesday came out just hours before the Federal Reserve is widely expected to increase interest rates when concludes its two-day monetary … Read more
Falling US gasoline prices drove inflation and retail sales down in May, defying expectations and raising more questions about the economy and the pace of interest rate increases this year. The government data released Wednesday came out just hours before the Federal Reserve is widely expected to increase interest rates when concludes its two-day monetary … Read more
The US Federal Reserve raised its benchmark interest rate by a quarter point to 1.0-1.25% on Wednesday and signaled another increase remains likely this year, despite the recent spate of weak economic data. In explaining the second rate hike of 2017, the Fed noted that “the labor market has continued to strengthen and that economic … Read more
Economist, Dr. Ebo Turkson has predicted of dire implications on interest and exchange rates should inflation rise in May. According to him, this will have a negative impact on businesses and the economy entirely. “When prices increase generally, our exports become less competitive because our goods are more expensive than formerly. So inflation is not … Read more
Ghana Statistical Service (GSS) is expected to announce the consumer price inflation for the month of May 2017 in the coming days. The year-on year inflation rate measured by the CPI with 2012 as the base year with an index of 100 stood at 13.0% in April 2017 as against the 12.80% recorded for March … Read more
The US Federal Reserve was due to begin a two-day review of monetary policy on Tuesday, with the second interest rate increase of 2017 seen as a near certain result. Any increase, however, would come in the face of persistent signs of weakness in the world’s largest economy, which in recent months has seen slowing … Read more
Falling food and energy prices helped keep US wholesale inflation flat in May, in another sign of slackening price pressures, the Labor Department reported Tuesday. The new figures come as the US central bank begins a two-day monetary policy meeting, with the Federal Reserve widely expected to raise the key interest rate for the second … Read more
For the second time this year, the US central bank appears poised to raise interest rates despite fresh signs the world’s largest economy is not in peak condition. The recent soft numbers on the economy may have weakened the case for an increase in the benchmark lending rate by the Federal Reserve, which begins a … Read more
All things being equal, inflation will decline further to 11.2 per cent by the end of 2017, the Institute of Statistical, Social and Economic Research (ISSER) has revealed, in tandem with government’s end-year inflation target. This is welcome news for Ghana’s private sector as the drop is set to trigger some easing in base lending … Read more