Ghana

BMI View: We are forecasting 11.4% currency depreciation, 200bps of interest rate cuts, and inflation falling by over 700bps in 2009. In our view, the US$2017 global bond will become... 2008-12-12

Our call for resumed weakening of the Ghanaian cedi is playing out, and further significant losses lie ahead. The currency traded at GHS1.2110/US$ at one point on December 1. We are... 2008-12-01

The cedi is set to see accelerated losses towards GHS1.2000/US$ in the short term owing to fundamental downside pressure as well as the actions of the Bank of Ghana. The accelerated... 2008-11-10

BMI View: We expect the Bank of Ghana's monetary policy committee to keep interest rates on hold at 17.00% on October 27. Key to this decision will be the ongoing decline in headline... 2008-10-21

The Ghanaian cedi has begun to drift lower over the past week, bringing an end to the range trading around GHS1.1500/US$ seen since the beginning of August, in our view. The stability... 2008-10-15

The spread of sub-Saharan African (SSA) US$ Global 2017 treasury bonds over US 10-year treasury bonds has widened significantly throughout September as global risk aversion rises.... 2008-10-06

We believe there is a strong possibility that Ghana's plan to launch a US$300mn 7-year bond will be put on ice, in light of ongoing global financial market turmoil and dramatic spread... 2008-09-16

BMI View: The beleaguered Ghanaian cedi should receive some support over August-September from privatisation inflows and the sale of the annual cocoa crop, bringing the currency back... 2008-08-07

BMI View: Following the lower-than-expected 100bps interest rate hike from the Bank of Ghana, we expect a further 150bps in September. In the meantime, we anticipate inflation will... 2008-07-22

The Bank of Ghana (BoG)'s monetary policy committee has a difficult job on its hands, having to balance the need for aggressive interest rate tightening against deteriorating macroeconomic... 2008-07-18