SUMMARY OF GHANA ECONOMICAL AND FINANCIAL DATA MAY 2018 PART 3

AT THE MAY SESSION OF THEIR  MONETARY POLICY  COMMITTEE, THE BANK OF GHANA LOWERED THE MONETARY POLICY RATE BY 100 BASIS POINTS FROM 18% TO 17%, AND BASED ITS DECISION ON MOSTLY FAVOURABLE ECONOMICAL AND FINANCIAL DATA. IN THIS ARTICLE SERIES, WE EXAMINE IMPORTANT FIGURES OF THIS SUMMARY. IN THIS LAST PART OF THIS SERIES, WE EXAMINE THE EXCHANGE RATE TO THE MAJOR CURRENCIES, THE COMMODITY PRICES, AND THE DEBT SITUATION.  Continue reading “SUMMARY OF GHANA ECONOMICAL AND FINANCIAL DATA MAY 2018 PART 3”

SUMMARY OF GHANA ECONOMICAL AND FINANCIAL DATA MAY 2018 PART 2

THE BANK OF GHANA HAS JUST PUBLISHED THE “SUMMARY OF ECONOMICAL AND FINANCIAL DATA MAY 2018”, AND HAS REDUCED THE MONETARY POLICY RATE BY 100 BASIS POINTS FROM 18% TO 17%. AT THE SAME TIME, THE STATISTICAL SERVICE OF GHANA RELEASED THE PRODUCER PRICE INDEX (PPI) FOR APRIL 2018. IN THE SECOND PART OF THIS ARTICLE SERIE, WE WILL DEAL WITH THE PPI FIGURES IN RELATION TO THE CONSUMER PRICE INDEX (CPI) AS WELL AS THE BUSINESS CONFIDENCE INDEX IN RELATION TO THE CONSUMER CONFIDENCE INDEX. A THIRD ISSUE IN THIS ARTICLE WILL BE THE RELATION BETWEEN THE MONETARY POLICY RATE, THE INTERBANK WEIGHTED AVERAGE AND THE AVERAGE LENDING RATE/BASE RATE RESPECTIVELY. Continue reading “SUMMARY OF GHANA ECONOMICAL AND FINANCIAL DATA MAY 2018 PART 2”

PRESS RELEASE REGARDING THE 5TH AND 6TH MEETING OF THE EXECUTIVE BOARD OF THE IMF CONCERNING THE LOAN PROGRAMME ON 30TH APRIL 2018

FOLLOWING IS THE PRESS RELEASE OF THE IMF EXECUTIVE BOARD MEETING OF THE IMF CONCERBING GHANA  – 30TH APRIL, 2018: Continue reading “PRESS RELEASE REGARDING THE 5TH AND 6TH MEETING OF THE EXECUTIVE BOARD OF THE IMF CONCERNING THE LOAN PROGRAMME ON 30TH APRIL 2018”

SUMMARY OF GHANA ECONOMICAL AND FINANCIAL DATA MAY 2018 (PART 1)

 

THE BANK OF GHANA HAS PUBLISHED THE SUMMARY OF ECONOMIC AND FINANCIAL DATA MAY 2018. AT THE SAME TIME, THE CENTRAL BANK REDUCED THE MONETARY POLICY RATE BY 100 BASIC POINTS FROM 18% TO 17%. DO THE PUBLISHED DATA JUSTIFY THE REDUCTION OF THE MONETARY POLICY RATE? LET’S HAVE A LOOK: Continue reading “SUMMARY OF GHANA ECONOMICAL AND FINANCIAL DATA MAY 2018 (PART 1)”

BREAKING UP THE RESPONSIBILITIES OF THE CENTRAL BANK OF GHANA – YES OR NO/

THIS WEEK, FRANK ADU, THE MANAGING DIRECTOR OF CALBANK, HAS SUGGESTED A BREAK UP OF THE RESPONSIBILITIES OF THE BANK OF GHANA. HE ARGUED THAT DUE TO THE DEVELOPMENT OF THE ECONOMY AND THE FINANCIAL SECTOR IN GHANA, THE RESPONSIBILITIES OF THE BANK OF GHANA “OVERBURDEN” THE CENTRAL BANK. HE SAID THAT THE CENTRAL BANK IN GHANA SHOULD NOT BE FORCED TO DEAL WITH BANK SUPERVISION AND REGULATION, WHILE BEING WORRIED ABOUT MONETARY POLICY. BUT IS A BREAK UP OF THE RESPONSIBILITY OF THE BANK OF GHANA REALLY THE RIGHT WAY  TO IMPROVE THE SITUATION OF THE FINANCIAL SECTOR IN GHANA? Continue reading “BREAKING UP THE RESPONSIBILITIES OF THE CENTRAL BANK OF GHANA – YES OR NO/”