BoG Closes Down 2 Financial Institutions
The Central Bank has closed down two financial institutions for offering financial services without its permission. In a statement released on Tuesday, March 7, 2017 the regulator said, “with...
Tag: Central Bank
Banks Require GHc1bn Stated Capital – Experts
Group CEO of CDH Financial Holdings, Emmanuel Adu-Sarkodee, has joined calls for a significant increase in the stated minimum capital for banks to about GH¢1billion, in order to support aggressive...
China Cuts Growth Goal, Puts Focus On Reform and ‘firewall’ Against Risks
China has cut its growth target this year as the world's second-largest economy pushes through painful reforms to address a rapid build-up in debt, and erects a "firewall" against financial risks....
March Rate Hike Could Be Appropriate
Federal Reserve Chair Janet Yellen said Friday another interest rate increase could be "appropriate" later this month if US employment and inflation remain in line with expectations. Yellen also...
Government Will Pay State Debts By Improving Liquidity For Banks
The Finance Minister says government would focus on improving liquidity for banks through the payment of State-Owned Enterprise (SOE) debts. Ken Ofori-Atta said government would pay debts owed banks...
Dollar Rises, Global Stocks Hold Highs On March Fed Rate Hike Bets
European stocks held near 15-month highs and the dollar strengthened against other top global currencies on Thursday on growing expectations that the U. S. central bank will raise interest rates...
As Banks Swerve Merger Moves What Next?
Ghana is a nation of 26million inhabitants, with a Gross Domestic Product (GDP) of almost US$35billion, and a universal bank tally of 35. South Africa is a nation of 55million inhabitants, with a GDP...
September Schedule For Free SHS “premature” – Economist
Government’s plans to roll out the free SHS programme in September has been described as premature. According to an Economist, Ken Thompson, the financial support presently coming in from...
September Schedule For Free SHS “premature”
Government’s plans to roll out the free SHS programme in September has been described as premature. According to an Economist, Ken Thompson, the financial support presently coming in from...
BoG Expects Cedi To Stabilise Against Major Currencies By End of March
The Central Bank says it expects the cedi to stabilise against major international currencies especially the dollar by the end of March this year. Market analysts have said the cedi has depreciated...
Trump Calls Chinese ‘grand Champions’ of Currency Manipulation
President Donald Trump declared China the "grand champions" of currency manipulation on Thursday, just hours after his new Treasury secretary pledged a more methodical approach to analyzing Beijing's...
US Fed Officials Say They May Need To Raise Rates ‘fairly Soon’
Federal Reserve officials said their outlook for the economy and interest rates had not changed much since December 2016, when they indicated three rate hikes were likely in 2017 US central bankers...
Government Engages Banks On Cheap Credit
Government has begun informal talks with key financial institutions on how to reduce the cost of credit and make same available to the private sector to spur growth, Business Development Minister,...
South Africa’s Rand Currency ‘rigged By Banks’
Local and international banks have been accused of rigging the price of South Africa's currency, the rand, by the country's competition watchdog. Global giants Barclays, JP Morgan and HSBC are among...
Fed’s Yellen Says Fiscal Policy Adds ‘uncertainty’ To Outlook
Possible changes in fiscal policy by US President Donald Trump are among the factors adding "uncertainty" to the economic outlook, Federal Reserve Chair Janet Yellen said Tuesday. She cautioned that...
China New Bank Loans Surge In January To $300 Bn
Chinese bank lending surged in January, the central bank said Tuesday, as concerns grow that a flood of credit is increasing financial risks in the world's second-largest economy. New loans extended...
Cedi Ends January With 2.80% Depreciation Rate
The Ghana Cedi ended the first month of 2017 with a depreciation rate of 2.80 percent against the US dollar, according to investment bank, Frontline Capital Advisors. Among six African currencies...
Cedi Seen Wobbling In First Quarter
The cedi is expected to continue to wobble in the first quarter of the year as demand pressure increases, although analysts believe the instability will be short-lived. From November to now, the cedi...
Dollar Heads For Fourth Weekly Fall Ahead of Payrolls
The dollar inched fractionally higher on Friday, as it limped toward U. S. jobs data facing its fourth straight weekly fall in what has already been its worst start to a year in three decades. The...
Partner BoG To Grow Economy
Ken Ofori Atta to collaborate with the central bank to map up policies to increase revenue. Finance Minister Ken Ofori-Atta has been urged to tackle corruption in the financial sector to spur...