The monetary policy rate since 2021 has always been higher than the inflation rate. The average difference between these two rates for the past year has been 3.5%. As the February 2021 inflation rate was 15.7%, it is anticipated that the MPC rate for the coming quarter should be...
The cedi’s woes are set to worsen if current conditions persist, as it is likely to depreciate by more than 20 percent against its major trading counterpart, the dollar, in the next 12 months, RMB - the corporate and investment division of FirstRand Bank - is projecting.
This comes as...
…as GEXIM positions to support local industries
Deputy Minister of Trade and Industry, Herbert Krapa, has called for more energy to be channeled into increasing the country’s exports - as that is the best way of addressing most of the fundamental issues facing the economy such as unemployment, currency...
With the economy buckling under the weight of internal and external pressures - rising inflation, a fast-depreciating local currency, foreign investor attrition - as well as heightened calls for a return to the International Monetary Fund (IMF) for assistance, government would be better off adopting, on its own, measures...
On the back of the current sovereign debt crisis and cedi depreciation, Chief Executive Officer of Axis Pension Trust, Afriyie Oware, says pension funds are not resilient enough to withstand these economic shocks, especially taking into consideration the maximum allowed by the law for foreign asset holdings.
The National Pension...
National sovereignty, peace, financial prosperity, and territory management have been the building blocks for independence. Although the world has entered a much more civilized and democratic era, human nature to win and rule has never changed. In the recorded human history of 3400 years, there has been peace for...
Rising inflation weighs on Cedi
The Cedi strengthened marginally against the dollar this week, trading at 7.035, recovering from a record low 7.060 at the end of last week. Inflation ticked higher in February to 15.7% from 13.9% in January as a result of rising food prices, exacerbated by Russia’s...
as it unveils digital portal to tax online trading
The Ghana Revenue Authority (GRA) has launched an E-commerce and Digital Service Registration Portal, as it anticipates to mobilise GH¢1.7 billion revenue from taxing online businesses beginning April this year to increase the chances of meeting its 2022 tax target.
The...
With the recent hikes of petroleum prices in the country, year-on-year inflation is expected to rise further over the coming months. It is inevitable that the fuel price increases will have a severe impact on both food and non-food inflation in the Consumer Price Index (CPI) basket.
“The March fuel...
