General News of Monday, 15 April 2019Source: BloombergCedi back where it belongs after 16% plunge – BoGErnest Addison, Governor of the Bank of GhanaGhana’s cedi has recovered to levels that appropriately reflect the state of the economy after “overshooting” during a slump in the first quarter, according to the head of the central bank. The cedi pared its year-to-date losses to 6.4 per cent, trading at 5.2513 against the greenback by the close in Accra on Thursday. Further easing will hinge on the Monetary Policy Committee’s expectations for price growth, Addison said. “We are very cognizant of the need to stay focused on inflation.”The central bank may start a review of the target band after elections which are due in December 2020, he said. Ghana can’t “remain competitive having inflation rates of 8 per cent when our trade partners have lower inflation of about 5 per cent,” he said.

Source: GhanaWeb April 15, 2019 11:13 UTC