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
The dollar retreated on Friday after two days of gains while world stocks pulled further back from all-time highs as investors unwound positions on growing expectations that the U. S. Federal Reserve will raise interest rates later this month. Fed officials have lined up to sing the need for higher rates soon, sending the implied … 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
Global equity markets were set to end the week on a softer footing on Friday, after setting record highs in the previous two sessions, as investors looked for clarity on U. S. President Donald Trump’s policies on tax and trade. The MSCI All-Country World index .MIWD00000PUS was still headed for its fourth straight week of … Read more
U. S. Federal Reserve Vice Chair Stanley Fischer said there was significant uncertainty about U.S. fiscal policy under the Trump administration, but the Fed would be strict in meeting targets of creating full employment and getting inflation to 2 percent. Speaking at the Warwick Economics Summit on Saturday, Fischer also said he thought Dodd-Frank financial … Read more
The dollar recovered a little ground on Wednesday after recording its worst start to the year in three decades on concerns the United States was poised to ditch its two-decade-old “strong dollar” policy. The greenback skidded 2.6 percent against a basket of major peers .DXY in January, its worst showing since 1987. It fell first … Read more
Gold edged up slightly in a technical rebound on Monday after one-month highs hit last week were undercut by the prospects of more interest rate hikes from the U. S. Federal Reserve. Spot gold edged 0.1 percent higher to $1,174.23 an ounce by 0715 GMT. Gold gained nearly two percent last week, its biggest weekly … Read more
Asian stocks cut early gains as investor caution grew before a news conference by President-elect Donald Trump on Wednesday, where his views on global trade and China will be carefully scrutinized for future policy implications. The dollar stood tall against rivals on Monday after the latest U. S. payrolls data indicated strong underlying wage growth, … Read more
The yield on the Government of Ghana 182-day treasury rate edged up by 0.01 per cent to settle at 24.70 per cent at the auction in the week ending September 23. However, the rest of the yields on the government treasury securities remained unchanged. The government accepted GH¢976.79 million worth of bids for the auction. … 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