Tag: GN Research
-
Cut expenditure to tame cedi’s free fall – GN Research to govt
Some economists have impressed on the government to cut down on its expenditure for the remainder of the year if it is to sustain gains in stabilizing the cedi against the dollar. The comment comes as the Finance Minister, Ken Ofori Atta prepares to present the midyear budget review to Parliament next month. They explain…
-
Mixed reactions meet BoG’s cut in policy rate
There are mixed reactions to the Bank of Ghana’s new policy rate of 18%. The central bank on Monday, March 26, 2018 announced that it has reduced the policy rate by 200 basis points after concluding its Monetary Policy Committee (MPC) meetings for the quarter. The Governor of the Bank of Ghana, Dr. Ernest Addison…
-
Mixed reactions meet GH¢6 to $ 1 prediction
There are mixed reactions to the prediction that the cedi will depreciate to 6 cedis to a dollar by 2022. The Economist Intelligence Unit (EIU) based in the UK, has predicted that the local currency will perform poorly against the dollar within the next four years due to some external pressures and political uncertainties. But…
-
MPC likely to maintain policy rate at 23.5% – GN Research
GN Research expects the Monetary Policy Committee (MPC) to keep the Monetary Policy Rate at 23.5%, due to a positive trend in inflation outlook, a stable currency, an improved investor confidence and the general positive outlook for the economy. The (MPC) of the central bank is set to announce a new Monetary Policy Rate (MPR),…
-
Tax cuts to deepen cedi depreciation – GN Research
Some currency analysts have warned that the government’s tax cuts would lead to a further depreciation of the cedi should it fail to stem the side effects of the policy. They contend that the ease in tax burden is an incentive for businesses to expand leading to an increased demand for dollars as a result.…