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
Barely two months into the Nana Addo Dankwa Akufo-Addo-led administration, a failing local currency means the authorities would have to dig deep into their policy armory to deal with a familiar old nemesis which tormented the previous administration. The cedi, which lost 9.6 percent of its value against the dollar last year, has come under … Read more
The cedi is expected to continue to wobble in the first quarter of the year as demand pressure increases, although analysts believe the instability will be short-lived. From November to now, the cedi has depreciated by over 10percent, and has already done a year-to-date depreciation of 1.8percent against the US dollar, largely due to low … Read more