Tag: High inflation rate
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Gov’t expenditure needs to be checked to help deal with inflation – ICAG
The Institute of Chartered Accountants Ghana is calling for fiscal discipline amidst the current high inflation and policy rate. Some stakeholders have blamed unbudgeted spending by government Ministries, Departments and Agencies (MDA’s) for contributing to the high level of inflation in the country. Since May 2021, when national inflation stood at 7.5%, the rate has…
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BoG’s inflation targeting framework can’t reduce rise in inflation – IEA
The Institute of Economic Affairs (IEA) is unhappy with the current approach being used by the Bank of Ghana in stemming Ghana’s inflation situation. According to the Institute, the inflation targeting framework being used by the Central Bank cannot provide a lasting solution to the country’s inflation problem hence must be avoided. In a paper…
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Monetary Policy Rate must be increased to 19% to check inflation – IEA
Amidst the continuous rise in inflation rate and calls for an intervention to stem the situation, the Institute of Economic Affairs (IEA) is projecting a 200 basis points increase in the monetary policy rate to 19 percent. This, it believes, will help narrow the gap with rising inflation and also ease to some extent the…