Coronavirus wipes away Ghana’s cedi gains

Coronavirus wipes away Ghana’s cedi gains

by | May 18, 2020 | Economy

Despite all the gains the local currency made against its major trading currencies at the beginning of the year, especially the United States dollars, the impact of the coronavirus pandemic has washed all away, causing the cedi to lose its strength. The cedi, which...
Ghana’s inflation hits record low after rebasing

Ghana’s inflation hits record low after rebasing

by | Oct 2, 2019 | Economy

The rate at which prices of goods and services changes has hit record low, breaking a 27-year record, after the basket for computation was updated to reflect current trends. Inflation for August 2019 recorded 7.8 percent, the lowest since March 1992, using August 2018...
Inflation drops in June to make way for policy rate cut

Inflation drops in June to make way for policy rate cut

by | Jul 19, 2019 | Economy

The general price levels of goods and services, for the second time since the beginning of the year, has seen another drop, making a strong case for the central bank to consider a policy rate cut later this month. Data released by the Ghana Statistical Service (GSS)...
ECOWAS to launch single currency next year

ECOWAS to launch single currency next year

by | Jul 3, 2019 | Economy

Leaders of the Economic Community of West African States (ECOWAS) have showed strong commitment in issuing the regional bloc’s own currency known as ‘Eco’ by end of 2020. This comes after leaders of the 15 member states which make up the ECOWAS met in Abuja, Nigeria,...