I have noted that right after the reading of the 2017 budget statement, the NDC star man in recent times on matters of economics, Hon Isaac Adongo, MP for the Bolga Central constituency has been doing so much talking. I don’t doubt the Hon Man’s background anyway. He has been speaking intelligently on some other … Read more
Federal Reserve Chair Janet Yellen said Friday another interest rate increase could be “appropriate” later this month if US employment and inflation remain in line with expectations. Yellen also defended the Fed’s performance, saying it has not been too slow to raise the benchmark lending rates, given the tepid recovery and sluggish inflation. The US … Read more
A former Deputy Finance Minister under the Mahama led administration, Ato Forson has predicted doom for the country following the presentation of the 2017 budget statement by sector Minister, Ken Ofori Atta. His comment is premised on the medium term initiatives outlined in the budget presented on Thursday, March, 2, 2017. Government’s policy objectives for … Read more
Finance Minister, Ken Ofori-Atta will on Thursday present the Nana Akufo-Addo-led government’s maiden budget statement, a presentation that will ultimately be a marker of the new administration’s policy priorities. Ahead of the presentation, expectations are high as policy analysts, the opposition National Democratic Congress and the curious Ghanaians hope to see how President Akufo-Addo and … Read more
The President of Ghana, Nana Akufo-Addo, in his state of the nation address last week assured Ghanaians that the 2017 budget will bring the economy back on the path of sustainable growth and development. Ghanaians therefore, are anxious to hear the finance minister’s policies that will put the economy back on track on Thursday 2nd … Read more
A closely watched measure of US inflation in January hit its fastest monthly pace in nearly four years, the Commerce Department reported Wednesday. The data also showed that the Personal Consumption Expenditures price index, the US Federal Reserve’s preferred measure of inflation, grew at an annual rate of 1.9 percent, a hair’s breadth below the … Read more
Financial analysts have tipped the stock market to continue its strong recovery on the back of an expected increase in activity on the pension funds market. Benjamin Amoah-Adjei, a financial research analyst at FirstBanC Financial Services: “We have seen a very strong recovery in the stock market since December last year and we expect that … Read more
The United States has rekindled interest in ultra long-term debt, including possibly a rare century bond, to lock in the current very low borrowing rates. “I think it’s something that we should seriously look at,” newly-installed US Treasury Secretary Steven Mnuchin said on Thursday. He said he already has talked to Treasury staff about the … Read more
Former deputy Finance minister Ato Forson has criticised President Akufo-Addo for failing to stick to the facts in his State of the Nation Address delivered last Tuesday. Debating the address in Parliament Thursday, the Ajumako Enyan Essiam MP Cassiel Ato Forson pointed out as false the claim that under the former NDC government, Ghana’s economy … Read more
Inflation will continue to fall in Ghana in 2017, following several years of extraordinarily high price growth, Fitch has predicted. According to the ratings agency, “having peaked at 19.2 percent in March 2016, inflation came down to 15.4 percent in December, and we expect further falls in the January print.” It added that renewed cedi … Read more
Private sector businesses have strongly advocated an optimal inflation target to guide economic policies that support private sector growth. They argue that the current drop in inflation while other factors such as interest rates and depreciation remain unchanged, make it difficult for them to plan and expand their business operations. “I think that as a … Read more
US consumer prices in January rose at their fastest pace in nearly four years, a fresh sign that a pickup in inflation may be approaching, Labor Department figures showed Wednesday. The consumer price index showed a 0.6 percent gain for the month, the third consecutive monthly acceleration and the largest increase since February 2013. January … Read more
Ghana’s inflation for the first month of 2017, January recorded 13.3 percent. The figure dropped by 2.8 percent from the 15.4 percent recorded in December 2016. Ghana started 2016 with an inflation of 19 percent; increasing to 19.2 percent in March and further increasing to 18.9 percent in May and subsequently 17.2 percent in September … Read more
Possible changes in fiscal policy by US President Donald Trump are among the factors adding “uncertainty” to the economic outlook, Federal Reserve Chair Janet Yellen said Tuesday. She cautioned that any spending plans should be consistent with putting the budget on a “sustainable trajectory.” Regardless, the central bank will decide at its upcoming monetary policy … Read more
The Bank of Ghana(BoG) has intensified moves to encourage commercial banks in the country to cede some portion of their annual funds as credit to farmers in the Agriculture sector. Even though the sector is seen as a major catalyst that could accelerate economic development, credit to stakeholders in the sector has dwindled over the … Read more
If the economy worked like the more recent quartz watch which functions electronically, then predictions of future events of growth will be more accurate than it currently is. As it stands, the economy works more like the older mechanical watch which evolved in Europe in the 17th century. The watchmakers tell us that it is … Read more
The Minister-designate for Employment and Labour Relations, Ignatius Baffour Awuah, has revealed he has “fantastic” ideas on how the one factory per district policy promised by the governing New Patriotic Party (NPP) will be executed to lead to job creation for Ghanaians. According to him, President Akufo-Addo recognises the impact of unemployment in the country, … Read more
The decision by the Bank of Ghana to release about $120 million into the economy has been lauded by the General Manager of Gold Coast (GC) Brokerage as a step in the right direction. “That should in some way help stabilise the cedi because the rate at which it is depreciating is quite alarming”, Afreh … Read more
The Bank of Ghana (BoG) has retained its policy rate at 25.5%. This is due to the fact that the Central Bank views the “risks to inflation and growth as balanced” its governor, Dr. Abdul-Nashiru Issahaku said Monday at a press briefing. He said inflation continues to ease, closing the year at 15.4% from 15.8% in … Read more
The Bank of Ghana (BoG) has retained its policy rate at 25.5%. This is due to the fact that the Central Bank views the “risks to inflation and growth as balanced” its governor, Dr. Abdul-Nashiru Issahaku said Monday at a press briefing. He said inflation continues to ease, closing the year at 15.4% from 15.8% … Read more