India’s central bank held interest rates in line with analysts’ expectations on Wednesday, rebuffing the finance ministry’s desire for a cut after India’s growth slowed. The Reserve Bank of India (RBI) said the benchmark repo rate — the level at which it lends to commercial banks — would remain at 6.25 percent. It was the … Read more
The Bank of Ghana (BoG)’s medium term inflation target could be attained should government tackle challenges facing the supply of critical services in the country. This is the position of Economist, Adu Owusu Sarkodie. “If the supply side of inflation is addressed together with the demand side which mainly borders on money supply, then I … Read more
President Donald Trump’s economic and tax agenda assume growth in the world’s largest economy will see a sustained rebound to double the current rate. But analysts are casting doubt on that goal given the current tepid pace of the American economic expansion, as well as limitations on the potential to fuel growth — especially without … Read more
FirstBanC Financial Services Ltd (FirstBanC), is expecting the reduction in policy rate from 23.5 to 22.5 percent to further boost Ghana’s economic growth. The Monetary Policy Committee of the Bank of Ghana announced the new policy rate this week at its 76th meeting. The policy rate was reduced by 100 basis points, and has seen … Read more
Ramadan is a time for daytime fasting and lavish evening feasts, but Egyptians are scaling back preparations for the Muslim holy month this year after austerity measures fuelled decades-high inflation. At a Cairo supermarket, Rana, a web designer and mother of two, said she was buying less food in the runup to the start of … Read more
US central bank policymakers want to see proof the country’s economic slowdown is temporary before they raise interest rates, according to minutes of their latest meeting. They said it would be “prudent to await additional evidence… that a recent slowdown in the pace of economic activity had been transitory”. Markets have been expecting a rate … Read more
The Bank of Ghana (BoG) has cut its benchmark interest rate by 100 basis points from 23.5 to 22.5 percent, citing a downward trend in inflation towards medium term targets. The BoG has set eight plus or minus two percentage points as its medium target and the central bank Governor, Dr Ernest Addison is confident … Read more
Ahead of the announcement of a new policy rate by the Bank of Ghana on Monday, some economists are predicting a further drop in the policy rate. Economist Professor Godfred Bokpin explains to Citi Business News, the reduction in interest payments due to the debt restructuring, should prompt a further drop in the policy rate. … Read more
In what may appear to be a disappointing news for industry, some economists are predicting that the central bank will maintain the monetary policy rate in its next review instead of further reducing it as has been the trend. The monetary policy committee Friday began its 76th policy meeting to review some developments in the … Read more
GN Research expects the Monetary Policy Committee (MPC) to keep the Monetary Policy Rate at 23.5%, due to a positive trend in inflation outlook, a stable currency, an improved investor confidence and the general positive outlook for the economy. The (MPC) of the central bank is set to announce a new Monetary Policy Rate (MPR), … Read more
Japan has posted its longest economic expansion in over a decade, government data showed Thursday, chalking up a win for Tokyo’s growth bid even though the battle to conquer deflation is still far from won. The world’s number three economy grew 0.5 percent in the first three months of 2017, its fifth straight winning quarter, … Read more
Following the rise in inflation from 12.8% in March to 13% in April 2017, some economists have advised government to put in measures to control it as they warn it will affect the rate of treasury bills as well as interest rates on loans. According to the Ghana Statistical Service, the rise in the April … Read more
Fitch ratings agency upgraded Ghana’s outlook to stable on Friday and said the government was making progress in stabilizing the economy after a period of crisis. The agency kept its ‘B’ rating on the gold, oil and cocoa producer, but said it expected a revival of GDP growth and a decline in inflation and the … Read more
Fitch ratings agency has on Friday upgraded Ghana’s outlook to Stable. Fitch says Ghana is making progress in stabilizing the economy after recent “crisis period”, with expected revival in GDP growth, declining inflation. The agency added that the new government will make progress in reducing budget deficit after election related slippage in 2016, albeit with … Read more
US inflation edged higher in April, reversing the previous month’s surprise drop, the Labor Department reported on Friday. The Consumer Price Index, which tracks changes in the costs of goods and services purchased by households, rose 0.2 percent in April after March’s 0.3 percent decline, matching analyst expectations. Data showed that retail sales in the … Read more
The 15 percent increment in transport fares by the GPRTU in April has pushed inflation up slightly to 13 percent from 12.8 percent in March, the Ghana Statistical Service has announced. “The rise in inflation rate from 12.8 in March to 13 percent in April 2017 was mainly due to the rise in inflation rate … Read more
Bank of England governor Mark Carney has warned of a consumer spending squeeze this year as inflation rises and real wages fall. This year will be “a more challenging time for British households” and “wages won’t keep up with prices”, he said. He was upbeat about wage growth beyond 2017 – but only if the … Read more
Mounting services costs drove up US wholesale inflation in April, with the annual measure hitting its fastest pace in five years, the Labor Department reported Thursday. The figures pointed to a rebound in price pressures after a contraction in March, which the Federal Reserve had said was likely only transitory. The Producer Price Index, which … Read more
The year-on-year inflation rate went up slightly in April to 13.0 per cent, up by 0.2 percentage points, compared with the 12.8 percent recorded in March. The Acting Government Statistician, Mr Baah Wadieh told a press conference on Wednesday that the monthly change rate in April 2017 was 1.6 per cent, while that for March … Read more
The figure went up by 1.6 percent from the 12.8 percent recorded in March this year. According to the Ghana Statistical Service (GSS), inflation for food items was 6.7 percent. Meanwhile inflation for non-food items such as transport and utility, went up by 16.3 percent in April 2017. The Acting Government Statistician, Baah Wadieh explained … Read more