Latest Ghana Benchmark Rate Hike the Largest on Record — President Promises Action Against ‘Unacceptable Depreciation of the Cedi’

[AJBot]

After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said President Nana Akufo-Addo must trim the size of his government. Largest Benchmark Rate Hike Since 2002 In an attempt to tame the country’s runaway inflation rate, which topped 31.7% in July, the Ghanaian central bank hiked the benchmark interest rate by 300 basis points. Following the latest hike ...

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[Kvngsammy]

This latest inflation seem to be hitting the world so hard. It then begs the question, was this the predicted economic effect of covid 19? Because we seemed to cope pretty well even till the year after. So what changed?

 

[nana kwasi1]

The world seems to be suffering greatly from the most recent inflation. The question that follows is: Was this the anticipated economic impact of COVID 19? Because even a year later, we managed to manage fairly well. What then changed?

 

[Sotherefore]

There is no way the blame should be shifted to . Everything should be done perfectly and the inflation in the country will seriously fade away. Why can't they think of generating more revenue for the country by establishment of industries or production of raw materials for exportation ?