{"id":54538,"date":"2023-09-19T06:59:27","date_gmt":"2023-09-19T06:59:27","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates"},"modified":"2023-09-19T07:54:12","modified_gmt":"2023-09-19T07:54:12","slug":"gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates","title":{"rendered":"GITFiC predicts rise in Ghana\u2019s inflation due to 4% increase in EU interest rates"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Ghana International Trade and Finance Conference (GITFiC) is predicting that Ghana\u2019s inflation could be affected by the recent hike in interest rates by the European Central Bank.<\/b><\/p>\n

The Bank on Thursday, September 14 raised its key interest rate to a record 4 percent, the 10th upward review of the rate.<\/p>\n

In a statement issued on Sunday, September 17, GITFiC said the decision by European Central Bank could have a devastating effect on inflation, which dropped to 40.3%.<\/p>\n

\u201cChanges in exchange rates and capital flows can affect domestic inflation in Ghana,\u201d it said.<\/p>\n

\u201cA depreciating Cedi can contribute to imported inflation if the cost of imports rises, which can have implications for the domestic cost of living.\u201d<\/p>\n

It also cited international exchange rates, capital flows, commodity prices, and ballooning of costs some of the areas to be affected by the decision.<\/p>\n

\u201cAn increase in the ECB\u2019s MPR will lead to a stronger Euro, which may affect the exchange rate between the Euro and the Ghanaian Cedi,\u201d it stated.<\/p>\n

\u201cA stronger Euro could make Ghanaian exports more expensive for Eurozone countries, potentially reducing demand for Ghanaian goods and services vis a vis balance of payment.\u201d<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The Ghana International Trade and Finance Conference (GITFiC) is predicting that Ghana\u2019s inflation could be affected by the recent hike in interest rates by the European Central Bank. The Bank on Thursday, September 14 raised its key interest rate to a record 4 percent, the 10th upward review of the rate. In […]<\/p>\n","protected":false},"author":84,"featured_media":54537,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-54538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nGITFiC predicts rise in Ghana\u2019s inflation due to 4% increase in EU interest rates - Ghana<\/title>\n<meta name=\"description\" content=\"The Ghana International Trade and Finance Conference (GITFiC) is predicting that Ghana\u2019s inflation could be affected ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GITFiC predicts rise in Ghana\u2019s inflation due to 4% increase in EU interest rates\" \/>\n<meta property=\"og:description\" content=\"The Ghana International Trade and Finance Conference (GITFiC) is predicting that Ghana\u2019s inflation could be affected ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-19T06:59:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-19T07:54:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/09\/sm_1695097323.647324.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"GITFiC predicts rise in Ghana\u2019s inflation due to 4% increase in EU interest rates\",\"datePublished\":\"2023-09-19T06:59:27+00:00\",\"dateModified\":\"2023-09-19T07:54:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates\"},\"wordCount\":218,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/09\/sm_1695097323.647324.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/gitfic-predicts-rise-in-ghanas-inflation-due-to-4-increase-in-eu-interest-rates\",\"name\":\"GITFiC predicts rise in Ghana\u2019s inflation due to 4% increase in EU interest rates - 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