Tag: inflation targeting
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Rising cost of food increases June inflation marginally
The continuous rise in the prices of food continues to dominate Ghana’s Consumer Price Index, CPI, pushing up inflation for June marginally. June 2020 recorded a CPI of 119.8 relative to 118.6 in May 2020. The year-on-year stands at 11.2 percent for 2020, from the 11.3 percent recorded in June 2019. Inflation measures the average…
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Banks to lose hold on interest rates
The Bank of Ghana is hoping that banks will soon reduce their interest rates on loans to reflect the continuous drop in the policy rate. The central bank believes that the development should also help correct the balance sheets of banks by reducing the Non-Performing Loans. This was among the key issues raised at a…