Cost of credit to further go up as Bank of Ghana raises policy rate to 22%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 300 basis points to 22%. The increase in the key rate follows an emergency Monetary Policy Committee (MPC) meeting held by the Central Bank on August 17, 2022. It also comes at a time when the country is […]
Cedi hits ¢10 to a dollar; BoG measures may halt depreciation in short-term
The Ghana cedi has hit the ¢10 mark as it traded at ¢10.01 in the retail market yesterday August 15th, 2022. At the same time, the cedi went for ¢10 to a euro. The cedi’s situation has become a major worry to businesses and household consumers, as its continuous depreciation is expected to be halted […]
Playwright Latif Abubakar, Spanish Embassy launch ‘Five Hours with Mario’
Celebrated Ghanaian playwright, Latif Abubakar has partnered with the Spanish Embassy in Accra on an adaptation of Miguel Delibes’ Five Hours with Mario. Speaking at the launch of the play at the Spanish Embassy in Accra, Mr Abubakar said the Embassy’s decision to partner his outfit, Globe Productions stems from a relationship between himself and […]
Inflation rises further to 31.7% in July 2022; Transport major driver
Year-on-year inflation crossed the 30% mark to hit 31.7% in the month of July 2022, data from the Ghana Statistical Service has revealed. This is the highest inflation rate recorded since late 2003. However, the rate of inflation slowed down in the month under review, as inflation went up by 1.9% over that of June […]
Fitch downgrades Ghana to junk status days after poor S&P grading
Rating agency, Fitch, has downgraded Ghana’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ or junk status from ‘B-‘. The downgrade, it said, reflects the deterioration of Ghana’s public finances, which has contributed to a prolonged lack of access to Eurobond markets, in turn leading to a significant decline in external liquidity. “In the […]