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 Finance Minister, Mr Seth Terkper, expects the stability in the fiscal side of the economy to provide comfort to the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) and possibly prompt the committee to consider easing its benchmark rate – the policy rate. After leaving the rate unchanged at 26 per cent … Read more
The business community, backed by some economists have intensified renewed calls for the central back to strongly consider cutting its policy rate to induce growth following the decline in inflation and stability in the cedi. The entreaty comes as the Monetary Policy Committee of the Bank of Ghana prepares to meet for the last time … Read more
Inflation for the month of October 2016 has seen a sharp decline from the 17.2% recorded in September to 15.8%. The rate decreased by 1.4% from the 17.2% in September 2016. The monthly change rate for October 2016 was 1.4% while that for Septmeber 2016 was 0.2%. The consumer price index measures the change over … Read more
The figure represents a 1.4 percent reduction from the 17.2 percent recorded in September this year. This is higher compared to the monthly change rate for September which was 0.2 percent. According to figures released by the Ghana Statistical Service, inflation for the food and non-alcoholic beverages reached 8.7 percent. The figure is 0.3 percentage … Read more
Ever heard of the currency Pula? Well it’s one of the best performing and valuable currencies in Africa from the SADC of the south of Africa. What makes an economy robust that is stable and reliable to operate a business and others frail, not being reliable and unstable? Well the ordinary man on the street … Read more
Inflation could hit 4% in the second half of 2017 – with price increases set to damage the economy through weakened consumer spending power. The prediction was made by the National Institute of Economic and Social Research (NIESR) in an update of its economic predictions for this year and next. It said that while the … Read more
The theoretical basis for any effective employment program rest on the idea of a perfect integration between an economy’s competitive drivers, the skill requirement to sustain those drivers and how all that situates within a broader context of global competition. In Ghana, a significant portion of the country’s economic output (GDP) is produced the by … Read more
Cost of borrowing is expected to go up in the coming months as some commercial banks are planning to adjust their lending rates upwards by about three per cent, Business Finder has leant. The banks, this paper gathered are worried about the rising inflation and the expected increase in Treasury bill rates. A bank executive … Read more
The left is undertaking an amazing back door plan to dramatically increase its influence over the Fed’s interest-rate-setting Open Market Committee. The key activist group, a division of the Center for Popular Democracy, is working to kick the bankers off the boards of directors of the district Federal Reserve banks. Those boards choose the presidents … Read more
Who will conjure the American Dream back for us? Politics is part prestidigitation, part reality. A great magician distracts her audience’s attention while producing the payoff. Abracadabra! Want to see how it’s done? Focus on the hidden hand. In this case, the United States Senate. The real issue America for American politics is how to … Read more
Attempts by the central bank to hem in inflation continue to yield less than satisfactory results, as a 0.3percent rise in September appears to confirm the Statistical Service’s suspicion that traders could be hiking prices ahead of the twin events of the December 7 polls and Christmas. Government Statistician, Philomena Nyarko, announced yesterday that year-on-year … Read more
Barely two months after parliament passed the Bank of Ghana (BoG) Amendment Bill, the International Monetary Fund (IMF) has punched holes into the Act and is demanding fresh amendments to introduce a number of new provisions. It said the provision allowing central bank financing of up to five percent of previous years’ revenue, as well … Read more
Ghana’s headline inflation is likely to slow further downwards raising prospects of a series of interest rate cuts as the government moves to spur growth. The country’s headline inflation rose to 16.9 per cent in August, having dropped from 19.2 per cent since March, prompting calls for the Bank of Ghana to ease Monetary Policy … Read more
Barely five months after a currency swap deal between Nigeria and China was enmeshed in controversy, the country’s import profile from the Far-East Asian nation has remained high and intermediated by the dollar. While government denied striking such deal, the earlier move was widely celebrated as a panacea to unending huge dollar demand and pressure … Read more
Efforts by Managers of Ghana’s economy to arrest inflation in the past four years have proved futile as prices of goods and services continue to soar in the country. The situation has impacted negatively on businesses as business owners also have to grapple with high cost of borrowing and high taxes. Business Finder’s analysis of … Read more
The Bank of Japan said Wednesday that it’s introducing a new long-term interest rate target of around zero. The bank has already gone to extreme lengths in its attempts to stimulate the country’s stagnating economy in recent years, gobbling huge amounts of Japanese government bonds and taking a key interest rate into negative territory. But … Read more
The stability of the Ghana cedi against the major foreign currencies, particularly the United States dollar, is expected to be sustained into the future in what is expected to bring a big relief to businesses. The positive news about the projected stability of the local currency is buttressed by the maintenance of the monetary policy … Read more
The Monetary Policy Committee (MPC) of the central bank has said it is undisturbed by perceived inflationary pressures which the Statistical Service said could result from traders hiking prices ahead of the December polls. “We haven’t seen any indication that the election is a real concern. Our surveys and even consumers tell us the economy … Read more
The governor of the Bank of Ghana (BoG) Dr. Abdul Nashir Issahaku has described as worrying the country’s current average lending rate which is hovering around 33 percent. According to the Dr. Issahaku, the central bank was committed to bringing down lending rates by tightening monetary policy. Speaking to Citi Business News, Dr. Issahaku said … Read more