Ghana's Inflation Declines for Second Month, Rate Cut on the Horizon?
Ghana is witnessing a notable easing of inflationary pressures as new data reveals a continued decline in its inflation rate for the second consecutive month. This trend sparks discussions among economists and policymakers regarding the potential for an interest rate cut by the Bank of Ghana in upcoming meetings, potentially stimulating economic growth.
Continue reading
Ghana's Central Bank Responds to Alarming Bad Loan Ratios Among Lenders
The Bank of Ghana has launched a proactive outreach initiative aimed at addressing the increasing concerns over the rising levels of non-performing loans (NPLs) among financial institutions in the country. This move comes in response to troubling reports of bad loan ratios that have surged to an unsettling 8.1%, a percentage that has become a matter of great concern for regulators and the economy at large.
Continue reading
Ghana's Inflation Hits Eight-Month Peak, Diminishing Hopes for Monetary Easing
Ghana is currently grappling with a significant rise in inflation, as recent data indicates that the inflation rate has reached its highest point in eight months. This surge has raised concerns regarding the potential for a forthcoming reduction in interest rates, which many economists were anticipating. The latest figures show that the inflation rate surged to 39.1% in December, a stark increase from the 38.1% recorded in the previous month.
Continue reading
Bank of Ghana Holds Interest Rates Steady Amid Rising Inflation Concerns
The Bank of Ghana has decided to keep its benchmark interest rates unchanged as it grapples with surging inflation that has prompted concerns across the economy. In its latest policy announcement, the central bank underscored the delicate balance it must maintain in managing both economic stability and controlling inflationary pressures.
Continue reading
Ghana's Interest Rate Decision on a Knife's Edge Amidst Rising Inflation
The monetary policy landscape in Ghana is currently facing a critical juncture as the nation grapples with fluctuating inflation rates, prompting speculation regarding the potential adjustment of interest rates. As authorities prepare for their upcoming monetary policy meeting, many economists and market analysts find it increasingly difficult to predict the central bank's likely course of action.
Continue reading
Ghana's Cedi Strengthens for Second Consecutive Day Following Central Bank Intervention
The Ghanaian cedi has experienced a notable rebound against the US dollar, marking its second consecutive day of appreciation. This positive momentum comes after coordinated efforts by the Bank of Ghana, which injected a significant amount of capital into the foreign exchange market by selling $214 million. This strategic move aims to stabilize the cedi amidst ongoing volatility.
Continue reading
Ghana Central Bank Launches New Gold Coin to Boost Savings
The Bank of Ghana has issued a new gold coin intended to boost savings among its citizens and ultimately grow the national savings rate. This novelty is meant to be just one more avenue of investment for Ghanaian citizens, who usually face problems in finding safe and profitable ways to save under unstable economic conditions.
Continue reading