Ghana Keeps Rates Steady With Cedi Rally Set to Tame Inflation

Ghana's central bank kept its key interest rate on hold to maintain downward pressure on inflation, which is expected to get a boost from the West African nation's world-beating currency.
The monetary policy committee maintained the policy rate at 28%, Governor Johnson Asiama told reporters on Friday in the capital, Accra. All three economists in a Bloomberg survey correctly predicted the decision.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Yahoo

32 minutes ago

• Yahoo

Forget chocolate! The world now envies Switzerland's zero interest rates

The world envies Swiss chocolate, army knives, and now . . . interest rates? Housing market weakness triggers Lennar to offer biggest incentives since 2009 The Trump administration is trying to bring back asbestos 3 tiny behaviors that make you the calmest person in the room Swiss National Bank, Switzerland's central bank, moved interest rates to zero this week, a reduction of 25 basis points, and a notable detraction from other central banks around the world, such as the Federal Reserve in the U.S. and the Bank of England in the U.K. In a statement, the Swiss National Bank said that the move was made in relation to declining inflation worries—and that it's expecting the economies to buckle under the volatility created, in part, due to the Trump administration's trade policies. 'With today's easing of monetary policy, the SNB is countering the lower inflationary pressure. The SNB will continue to monitor the situation closely and adjust its monetary policy if necessary, to ensure that inflation remains within the range consistent with price stability over the medium term,' the statement read. 'The global economic outlook for the coming quarters has deteriorated due to the increase in trade tensions. In its baseline scenario, the SNB anticipates that growth in the global economy will weaken over the coming quarters. Inflation in the U.S. is likely to rise over the coming quarters. In Europe, by contrast, a further decrease in inflationary pressure is to be expected.' Meanwhile, in the U.S., the Federal Reserve's latest meeting wrapped up this week with no change in interest rates, despite pressure from the White House and others to lower them. Fed Chair Jerome Powell and other Fed governors have been reluctant to do so, as inflation data still has not gotten close enough to its 2% target, and employment data has remained positive. Across the Atlantic, however, another European country, Norway, also cut rates this week. And some experts think that the Swiss could go even further, instituting negative interest rates at some point this year. 'There are risks that the SNB will go further in the future if inflationary pressures don't start to increase, and the lowest the policy rate could go is -0.75%, the rate it reached in the 2010s,' Swiss National Bank's Chairman Martin Schlegel told CNBC on Thursday. 'But what I can say is that going negative, we would not take this decision lightly.' This post originally appeared at to get the Fast Company newsletter:

Yahoo

2 hours ago

• Yahoo

Powell comments, consumer confidence, PCE: What to Watch

Here's what investors are watching next week, starting Monday, June 23. Nike (NKE) will be releasing its fourth quarter results after the market closes on Thursday. Other earnings reports next week include KB Home (KBH), Carnival (CCL), FedEx (FDX), BlackBerry (BB), General Mills (GIS), Micron (MU), and McCormick (MKC). Federal Reserve Chair Jerome Powell will testify for Congress on Tuesday. More Fed commentary will come throughout the week, including from Cleveland Fed president Beth Hammack. June's consumer confidence data will be released Tuesday morning, shedding light on the state of the consumer. Personal Consumption Expenditures (PCE) data — the Fed's preferred inflation gauge — for the month of May will be out on Friday. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Time now for to watch next week to start off on the earnings front, getting another round of earnings, including FedEx, Micron, and Nike. Nike out results for the 4th quarter on Thursday. That's after the markets closed. It's been a rough year for Nike, offering big discounts to clear out product that didn't sell. All while terrorists we know are weighing on the company's bottom line, analysts expecting sales could drop by about 15% compared to last year. That's in line with what Nike has been warning. Taking a look at the Fed, we're gonna be getting some commentary throughout the week, including Fed Chair Jerome Powell. Powell testifying in front of Congress on Tuesday. That will be for a semiannual monetary policy report for the House Financial Services Committee. Also on Tuesday, we're gonna be getting monthly consumer confidence data for June in the morning. Economists forecasting that number to. Up slightly to 99, signaling consumers are feeling slightly more optimistic about the economy than they were a month ago. And sticking with the economy, personal consumption expenditures, or PCE data coming out on Friday, the Fed's preferred inflation gauge expected to hold steady at 0.1% on a month over month basis.

Yahoo

3 hours ago

• Yahoo

Powell comments, consumer confidence, PCE: What to Watch

Here's what investors are watching next week, starting Monday, June 23. Nike (NKE) will be releasing its fourth quarter results after the market closes on Thursday. Other earnings reports next week include KB Home (KBH), Carnival (CCL), FedEx (FDX), BlackBerry (BB), General Mills (GIS), Micron (MU), and McCormick (MKC). Federal Reserve Chair Jerome Powell will testify for Congress on Tuesday. More Fed commentary will come throughout the week, including from Cleveland Fed president Beth Hammack. June's consumer confidence data will be released Tuesday morning, shedding light on the state of the consumer. Personal Consumption Expenditures (PCE) data — the Fed's preferred inflation gauge — for the month of May will be out on Friday. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Time now for to watch next week. Gonna start off on the earnings front. We're getting another round of earnings, including FedEx, Micron, and Nike. Nike announced results for the fourth quarter on Thursday. That's after the markets close. Been a rough year for Nike offering big discounts to clear out product that didn't sell. All while tariffs, we know, were weighing on the company's bottom line. Analysts expecting sales could drop by about 15% compared to last year. That's in line with what Nike has been warned. Taking a look at the Fed, we're going to be getting some commentary throughout the week, including Fed chair Jerome Powell. Powell testifying in front of Congress on Tuesday, that will be for a semi-annual monetary policy report before the House Financial Services Committee. Also on Tuesday, we're going to be getting monthly consumer confidence data for June in the morning. Com is forecasting that number to tick up slightly to 99, signaling consumers are feeling slightly more optimistic about the economy than they were a month ago. And sticking with the economy, personal consumption expenditures or PCE data coming out on Friday, the Fed's preferred inflation gauge expected to hold steady at 0.1% on a month-over-month basis. 登入存取你的投資組合