Mobile money transactions for the first eight months of this year far exceeded cheque transactions by a massive ¢522.9 billion. This is compared to a little about ¢374 billion recorded in the first half of this year. It indicates that majority of retail consumers now prefer and have accepted mobile money as their mode of …
August PPI fall suggests possible impending slowdown in consumer price inflation …but distributor and retailer profiteering may forestall this The Producer Price Inflation (PPI) rate for August 2021 has decreased to 8.1 percent, the Ghana Statistical Service (GSS) announced last week. This rate represents a 0.3 percentage point decrease in producer inflation relative to the …
despite inflation and exchange rate pressures At the weekend the Bank of Ghana released its latest economic figures which were used last week by the central bank’s Monetary Policy Committee to deliberate on what to do with the benchmark Monetary Policy Rate. The latest data had been highly anticipated even though most economists were expecting …
…ahead of policy rate announcement Recent public discontent about the wide gap between policy rate and lending rates of banks has put the Monetary Policy Committee (MPC) in a tight corner on what decision to take despite prevailing conditions giving it a strong case not to cut rate this time. Various stakeholders, including the business …
With financial systems across the continent set for increased integration under the African Continental Free Trade Area (AfCFTA), domestic industry watchdog the Bank of Ghana will heighten its monitoring of developments in the trade area and put measures in place to ensure local financial institutions are insulated from external shocks. This, said Head of Banking …
Higher cost of certain foodstuffs and housing pushed the rate of inflation for the month of August to 9.7%, data from the Ghana Statistical Service indicates. However, it still remained in the single digit bracket despite the consistent upward trend in the prices of some foodstuffs and housing. The month-on-month inflation between July 2021 and …
The Bank of Ghana in its latest inflation outlook has confidently forecasted headline inflation to remain within the medium-term target band of 8±2 percent despite it inching up in the past two months, but has expressed concern about risk from the fiscal side. Domestic price pressures moderated during the second quarter of 2021, causing headline …
A new campaign to get the Ghana Tax Exemptions Bill passed into law by Parliament has begun. The bill has been stuck between cabinet and Parliament since 2019 despite overwhelming support by its passage into law by economists, financial analysts, public policy commentators, civil society organizations and the media, in order to plug a glaring …
The 2022 National Budget will be targeted at creating opportunities and providing solutions towards achieving a sustainable and broad-based economic growth without harming the climate or leaving families in poverty. According to the 2022-2025 Budget Preparation Guidelines, the approach of the budget which will be launched in November 2021 is to catalyse the private sector …
The Bank of Ghana has effectively been forced to halt further monetary easing for now as the latest consumer price inflation data from the Ghana Statistical Service, released on Wednesday last week, has revealed that Ghana’s inflation rate rose more than forecast in July after food, transport and housing prices surged. This confirms suspicions already …