Tag: Economist Intelligence Unit
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EIU’s prediction on local currency is over-ambitious – Economist
Economist with Databank, Courage Boti has described the projection made by the Economist Intelligence Unit (EIU) on the local currency as somewhat over-ambitious, given the current economic conditions and the instability of the Ghana cedi in recent times. In its latest assessment of the Ghanaian economy, the London-based organisation projected a further weakening of the…
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Local currency to hit GHS7.87 against the dollar by end of 2022 – EIU Report
London-based economic and political analysis firm, the Economist Intelligence Unit (EIU), has predicted that the Ghana cedi will hit GH¢7.87 to $1 by the end of this year. This comes months after the cedi experienced some depreciation against the dollar in the first quarter of the year 2022. Already, data from the Central Bank shows…
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EIU predicts AfCFTA implementation will be postponed
The Economist Intelligence Unit (EIU) is predicting that the African countries signed up to the landmark continental free trade agreement will be forced to push forward the July 1st, 2020, commencement date of trading. The business intelligence and advisory firm said despite more than a year’s grace period, the 27 countries including Ghana, which have…
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EIU predicts reduction in policy rate this year
Individuals and businesses seeking credit from commercial banks this year should be offered some respite as the Economist Intelligence Unit is predicting that the Bank of Ghana will lower its lending rate. The business intelligence advisory firm in its latest country report stated that the Bank of Ghana’s policy rate currently pegged at 16 percent…
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Cedi’s performance worst in 3-years ahead of election 2020
The cedi’s perennial struggles against the US dollar does not seem to go away as this year’s performance is rated as the worst in the three-year-old Akufo-Addo administration. According to data from the Bank of Ghana, the cedi depreciated by about 10.6 percent against the greenback compared to the 8.21 percent depreciation achieved last year.…
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EIU backs Bank of Ghana to keep inflation in check for at least 4 years
The Economist Intelligence Unit (EIU) is forecasting that the Bank of Ghana will succeed in keeping inflation within its medium target of between 8-10 percent for at least the next three years. According to the EIU in its latest country report, the consumer price index is not going to go beyond the 10 percent mark.…