• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana set to hold rates on inflation expectations, budget

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
94
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana set to hold rates on inflation expectations, budget

Ghana’s central bank is poised to look past a recent quickening in inflation and keep interest rates on hold on expectations that it’s likely to be short-lived, a pause that would give policymakers time to evaluate the impact of Finance Minister Ken Ofori-Atta’s mid-tern budget review.

Most economists polled by Bloomberg predict the monetary policy committee will maintain the benchmark rate at 29.5% for a second straight meeting. The rest forecast a hike of between 50 basis points to 250 basis points.

“I expect the central bank to hold the policy rate because of the uncertainty of what the mid-year budget comes up with,” said Courage Boti, an economist at Accra-based GCB Capital Ltd.

Thursday’s budget review will be the West African nation’s first since it embarked on debt restructuring in December and sealed a $3 billion lifeboat from the International Monetary Fund in mid-May to support its recovery.

The IMF program was conditional on the government committing to fiscal consolidation and collecting more revenue, which will have implications for inflation. The world’s second-largest grower of cocoa beans seeks to bring debt down to 55% of gross domestic product by 2028 from 71.2% of GDP at the end of 2022.

Inflation, which unexpectedly accelerated in the past two months to 42.5%, is forecast to start easing again, adding to the case to leave rates unchanged, said Boti and Goldman Sachs Group Inc. economists including Bojosi Morule and Andrew Matheny in a research note.

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

“The risk of inflation in the second half of the year appears to be more balanced and tilted slightly to the downside, so I think inflation is currently not a concern,” Boti said. “Given that economic growth could be depressed in the second quarter, holding the rate will at least lend some minor support to the private sector to boost growth.”

Inflation, which has been above the central bank’s 6% to 10% target range since September 2021, has exacerbated poverty and food insecurity and led real incomes of minimum-wage workers to drop by nearly 44%, the World Bank’s local office said in a report last week.

The MPC has lifted the key rate by 16 percentage points since November 2021 to contain it.

Source: bloomberg
Via: norvanreports
Tags: budgetGhana set to hold rates on inflation expectationsinflation
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.