The Chief Executive Officer of the Ghana National Chamber of Commerce and Industry, Mark Badu-Aboagye, has raised concerns about what he describes as a disconnect between Ghana’s reference rate and the current inflation rate.
Speaking on key macroeconomic indicators, he noted that the reference rate currently stands at 10%, while inflation is 3.2%, describing the difference as a “mismatch” that needs 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?”
He explained that a closer alignment between lending rates and inflation would better reflect the country’s economic fundamentals and indicate stronger macroeconomic stability.
