• 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

Inflation to trend backwards to medium-term target starting Q4 2022 – BoG

3 years ago
in Business, Economy, Editor's pick, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
116
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Inflation to trend backwards to medium-term target starting Q4 2022 – BoG

The Central Bank has projected inflation rate to start reducing and trending backwards to the Bank’s medium-term target of 6-10% possibly by the start of the fourth quarter of this year.

The new forecast by the apex bank is a review of its earlier forecast to which the Governor, Dr Ernest Addison, during an interview with Bloomberg noted, inflation had peaked in May and that inflation was expected to reduce for the rest of the year.

“The Bank’s forecast indicates that inflation would peak later this year, and begin trending back towards the medium-term horizon,” stated Dr Philip Abradu-Otoo, Director of Research at the Central Bank.

He made the assertion reading a speech on behalf of the First Deputy Governor of the Bank of Ghana, Dr Maxwell Opoku-Afari during a financial literacy workshop for journalists in the northern zone of Ghana.

The workshop was held under the theme, “Sustaining the Recovery: The Role of the Journalist in Building Confidence” and was aimed at equipping journalists with a better understanding of issues such as Monetary Policy formulation, inflation targeting, among others.

Speaking further on the subject of inflation, Dr Abradu-Otoo remarked that there are significant upside risks to the country’s inflation outlook in the form of increased commodity prices particularly crude oil, heightened supply chain disruptions coupled with the recent 20% upward adjustment in utility tariffs.

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

Headline inflation has shifted well above the upper band of the Bank’s medium-term target, driven mainly by food prices, transport costs, upward adjustments in ex-pump petroleum prices, and pass-through of exchange rate depreciation.

The latest data shows that headline inflation rose sharply to 31.7 percent in July 2022 from 29.8 percent in June 2022 on the back of significant increase in both food inflation and non-food inflation. Inflation was 9 percent just a year ago in July 2021.

Speaking on the role of financial and business journalists in sustaining economic recovery through confidence building and bringing calm to financial markets, Dr Abradu-Otoo noted the media’s role in influencing the economic narrative is even more important during periods of heightened uncertainty when all kinds of news including fake news are rife on social media, even at times within mainstream media.

The spread of such misinformation, he stated, has the potential to jolt financial markets and create panic among the general public with dire implications for financial stability.

“Under such instances, business and financial journalists have additional responsibilities to help financial market participants and the general public to draw a clear distinction between facts and fiction and decide the newsworthiness of the information at hand for accurate reportage, a crucial ingredient for confidence building,” he stated.

Read details of statement here:

First Deputy Governor's Keynote Address-bog Training Workshop for Journalists in the Northern Zone 26 08 22… by Fuaad Dodoo on Scribd

Tags: Bank of Ghana (BoG)ghanaInflation to trend backwards to medium-term target starting Q4 2022 – BoG
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.