{"id":464468,"date":"2018-02-15T04:30:36","date_gmt":"2018-02-15T04:30:36","guid":{"rendered":"https:\/\/ghana-mma.com\/2018\/02\/15\/ghanas-inflation-targeting-regime-needs-rethinking-ieas-dr-osei-assibey\/"},"modified":"2018-02-15T04:30:36","modified_gmt":"2018-02-15T04:30:36","slug":"ghanas-inflation-targeting-regime-needs-rethinking-ieas-dr-osei-assibey","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2018\/02\/15\/ghanas-inflation-targeting-regime-needs-rethinking-ieas-dr-osei-assibey\/","title":{"rendered":"Ghana\u2019s inflation targeting regime needs rethinking \u2013 IEA\u2019s Dr Osei-Assibey"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Thursday, 15 February 2018<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>Myjoyonline.com <\/p>\n<p>2018-02-15<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/02\/22237043.295.jpg\" alt=\"Dr Osei Assibey  GDP\" title=\"Dr Osei Assibey  GDP\" width=\"295\" height=\"186\" \/><span class=\"image_caption\"><span>Dr Eric Osei-Assibey is an Adjunct Senior fellow at the Institute of Economic Affairs (IEA)<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125817929577\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125817929577\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/02\/1518669036_62_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\"> Adjunct Senior at the Institute of Economic Affairs (IEA), Dr Eric Osei-Assibey, has advocated for a rethinking of Ghana\u2019s inflation targeting (IT) regime, in order to accelerate the nation\u2019s socio-economic development.<\/p>\n<p>He said, if Ghana\u2019s IT regime was to be maintained, then we need to solidify the fundamentals, stating that; \u201cwe need to make sure the productive sectors of this economy is good. We are exporting more, we have favourable terms of trade and our currency is strong, just like in developed countries, so that inflation target will be relevant to us.<\/p>\n<p>\u201cIf IT is to continue, then there is the need to strengthen the economic fundamentals, otherwise an alternative policy that is in sync with our development agenda should be sought\u201d.<\/p>\n<p>Dr Osei-Assibey gave the recommendation in his presentation at an IEA Roundtable in Accra; on the theme \u201cInflation Targeting Under Weak Macroeconomic Fundamentals: Does Ghana Need a Monetary Policy Re-direction?<\/p>\n<p>He said IT had often been successful in keeping inflation levels low and avoiding many of its negative effects.<\/p>\n<p>He said IT is an economic policy, through which a central bank publicly determines a target inflation rate and then attempts to steer actual inflation towards the target.<\/p>\n<p>Dr Osei-Assibey said IT is a transparent way to explain interest rate policy and to anchor consumers\u2019 expectations about future inflation, adding that, on the other hand, if the rule was implemented very strictly, an IT could severely limit the central bank\u2019s flexibility in responding to changing economic conditions.<\/p>\n<p><!-- uploaded by: 50 updated by: 50 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Thursday, 15 February 2018 Source: Myjoyonline.com 2018-02-15 Dr Eric Osei-Assibey is an Adjunct Senior fellow at the Institute of Economic Affairs (IEA) Adjunct Senior at the Institute of Economic Affairs (IEA), Dr Eric Osei-Assibey, has advocated for a rethinking of Ghana\u2019s inflation targeting (IT) regime, in order to accelerate the nation\u2019s socio-economic [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":464167,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-464468","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/464468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/comments?post=464468"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/464468\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/media?parent=464468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/categories?post=464468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/tags?post=464468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}