The Chief Executive Officer of the Ghana National Chamber of Commerce and Industry, Mark Badu-Aboagye, has expressed concern over what he describes as a disconnect between Ghana’s reference rate and prevailing inflation figures.
Speaking on current macroeconomic indicators, he noted that the country’s reference rate stands at 10 per cent, while inflation is recorded at 3.2 per cent, describing the gap as a “mismatch” that requires policy attention.
“If you have a reference rate of 10 per cent and your inflation is at 3.2 per cent, I see a mismatch in there,”
“I want to see a very closer relationship between the inflation and the lending rate,” he said while discussing the government’s performance in the last 16 months on Joy Business Round-table Discussion on Thursday, April 30.
The discussion was themed “Mahama at 16 Months: Do Economic Narratives Match Real-Sector Outcomes?”
According to him, a more coherent relationship between lending rates and inflation would better reflect economic fundamentals and signal stronger macroeconomic performance.
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