Browsing: Inflation

This means that government is openly calling the bluff of investors who are gradually pulling back from buying treasury bills that offer interest rates that are between 450 and 700 basis points below year on year consumer price inflation.

Gold prices crossed the US$3,000 per fine ounce on March 14, 2025, on account of heightened economic uncertainty triggered by the trade and geopolitical tensions, persistent inflation, and weakening US dollar”, the Governor of the Bank of Ghana, Dr Johnson Asiama told journalists last week.

The Ghana Reference Rate, which serves effectively as the base lending rate for all commercial banks – being computed by them in collaboration with the BoG – has been a little higher at 29.72% in January and 29.96% in February.

Effective February 16 to 28, OMCs and LPGMCs are to adhere to the newly established price floor.

Although, public sector workers have received the news with excitement, some labour experts have clashed with each other on the wage pay adjustment, opposing each other. Austin Gamey has described the 10% wage increase for public sector workers as excessive, warning that it could exacerbate inflationary pressures.

The resultant of rising inflation is that, businesses face higher costs while consumers have to cut spending, worsening the ongoing cost of living crisis”, Deloitte, the globally acclaimed professional services firm, shared in its November 2024 Inflation Update.

Deloitte is optimistic the policy rate will support economic growth and prevent inflation from rising.

we are going through an expensive economic recovery”, Prof Godfred Bokpin shared in an interview last week.

He said this last week, when he commissioned The Bank Square, the magnificent new headquarters of the Bank of Ghana, located in the heart of Accra.

Mr Pierre-Olivier Gourinchas, the IMF’s Chief Economist, said global headline inflation, which peaked at 9.4% in the third quarter of 2022, is expected to drop to 3.5% by the end of next year.