India’s central bank held interest rates on Thursday, in line with analysts’ expectations, citing inflationary pressures from an imminent tax reform and the possibility of a poor monsoon. 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. … Read more
The economy of Ghana is still developing and the need for export earnings to support national expenditure which is substantially denominated in convertible currency is so overwhelming. The unbridled depreciation of the cedi is an economic phenomenon which is explained by the simple principle of demand and supply. Foreign currency (dollar, pound sterling, Euro, French … Read more
The Ministry of Finance (MoFEP) has commended Dr. Abdul-Nashiru Issahaku for his stewardship of the Central Bank from April 2016 when he assumed office. A statement issued yesterday and signed by Ken Ofori-Attah, Minister of Finance, said Dr. Abdul-Nashiru Issahaku announced his resignation as the Governor of Bank of Ghana (BoG) due to personal reasons … Read more
Inflation in Europe’s largest economy Germany has fallen back sharply over the past four weeks, after overshooting the European Central Bank’s target in February. This makes a change in monetary policy less likely. Prices rose 1.6 percent compared with March 2016, figures from federal statistics authority Destatis showed, a 0.6-percentage-point decrease from February’s figure. The … Read more
The Minister for Monitoring and Evaluation, Dr. Anthony Akoto Osei has told Citi Business News the Bank of Ghana Governor’s decision to resign could be largely attributed to the difference in political ideologies between him and the governing New Patriotic Party (NPP). According to him, Dr. Issahaku’s open support for the past NDC government could … Read more
The Central Bank Governor, Dr Abdul Nashiru Issahaku has resigned. Citi Business News has gathered his resignation takes effect from the 1st of April, 2017. It’s unclear what led to his resignation but the Governor is reported to have cited personal reasons for the move. Dr Issahaku was appointed Governor of the Bank of Ghana by … Read more
Citi Business News has gathered his resignation takes effect from the 1st of April, 2017. It’s unclear what led to his resignation but the Governor is reported to have cited personal reasons for the move. Dr Issahaku was appointed Governor of the Bank of Ghana by former President, John Mahama in April, 2016 after his predecessor … Read more
Two analysts have applauded the Bank of Ghana for recording the biggest drop in the policy rate in nearly 10 years, a move intended to encourage banks to reduce interest rates. Professor Godfred Bokpin from the University of Ghana and Chief Operating Officer of Dalex Finance Joe Jackson, however, say banks are hesitant to respond … Read more
The Chief Executive Officer of the Private Enterprise Federation (PEF), Nana Osei Bonsu, has indicated that the recent policy rate cut may not necessarily translate into a reduction in interest rates by commercial banks. Nana Osei Bonsu applauded the Bank of Ghana (BoG) for the cut, but explained that commercial banks use a formula, considering … Read more
Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has significantly reduced its key lending to commercial banks, the biggest cut in rate in almost 10 years. This represents a 200 basis point reduction from the previous figure—25.5 per cent. Governor of the central bank, Dr. Abdul Nashiru Issahaku, disclosed this at a press briefing in Accra yesterday … Read more
Mr. Jerry Afolabi, an economist, has said the reduction in the policy rate announced by the Central Bank was laudable and will relieve business owners. The Monetary Policy Committee of the Bank of Ghana yesterday [Monday, 27/3/2017] reduced the policy rate by 200 basis points to 23.5 percent from 25.5 percent. Speaking to Kwame Tutu … Read more
The Bank of Ghana has fixed the country’s monetary policy rate at 23.5 per cent, indicating a 200 basis point reduction from the previous rate of 25.5 per cent. The new figure was announced Monday by the governor of the Bank, Dr. Abdul Nashiru Issahaku, at the second Monetary Policy Committee meeting for2017. Dr Issahaku … Read more
The Monetary Policy Committee of the Bank of Ghana has reduced the policy rate to 23.5 percent. This represents a 200 basis point reduction from the previous figure; 25.5 percent. Governor of the Central bank, Dr. Abdul Nashiru Issahaku disclosed this at the press briefing to conclude the second MPC meeting for 2017. Dr Issahaku … Read more
The Monetary Policy Committee (MPC) of the Bank of Ghana has reduced the Monetary Policy Rate by 200 basis points to 23.5 percent. At the 75th regular MPC meeting, Governor of the central Bank Dr. Abdul-Nashiru Issahaku said headline inflation also declined for the fifth consecutive month in February 2017. Inflation fell from 17.2 percent … Read more
The Monetary Policy Committee of the Bank of Ghana has reduced the policy rate to 23.5 percent. This represents a 200 basis point reduction from the previous figure; 25.5 percent. Governor of the Central bank, Dr. Abdul Nashiru Issahaku disclosed this at the press briefing to conclude the second MPC meeting for 2017. Dr Issahaku … Read more
Industry players are upbeat about a possible reduction in the policy rate to be announced by the Bank of Ghana later today. Their hopes are largely built on the declining inflation as well as drop in interest rates on the Treasury bill market. Already, some Economists say the pro-business agenda of the NPP government should … Read more
The Monetary Policy Committee of the Central Bank of Ghana (BoG) is widely expected to loosen its tight monetary stance, after inflation trended downwards for the fifth consecutive time and the local currency maintained a steady performance against the US dollar. Inflation, has since October last year, fallen consistently from 15.8 percent to 13.2 percent … Read more
Despite high expectation on the part of the private sector for the Bank of Ghana(BoG) to reduce the policy rate due to government’s policy direction, some financial observers maintain that government’s policy may not influence the outcome. The Association Ghana Industries(AGI) for example has expressed hope in a reduction of the policy rate to correspond … Read more
Despite high expectation on the part of the private sector for the Bank of Ghana(BoG) to reduce the policy rate due to government’s policy direction, some financial observers maintain that government’s policy may not influence the outcome. The Association Ghana Industries(AGI) for example has expressed hope in a reduction of the policy rate to correspond … Read more
The U. S. Federal Reserve raised interest rates on Wednesday for the second time in three months, a move spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank’s target. The decision to lift the target overnight interest rate by 25 basis points to a range of … Read more