{"id":216906,"date":"2024-09-12T08:15:05","date_gmt":"2024-09-12T08:15:05","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/09\/12\/investors-express-cautious-optimism-as-ghana-goes-to-the-polls\/"},"modified":"2024-09-12T08:15:05","modified_gmt":"2024-09-12T08:15:05","slug":"investors-express-cautious-optimism-as-ghana-goes-to-the-polls","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/09\/12\/investors-express-cautious-optimism-as-ghana-goes-to-the-polls\/","title":{"rendered":"Investors express cautious optimism as Ghana goes to the polls"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/463\/46372212.295.jpg\" alt=\"Priority is being given to short-term investments, particularly in light of potential risks\" title=\"Priority is being given to short-term investments, particularly in light of potential risks\" width=\"295\" height=\"196\" \/> <span class=\"image_caption\"><span>Priority is being given to short-term investments, particularly in light of potential risks<\/span><\/span><\/p>\n<\/div>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p style=\"clear:right\" id=\"article-123\">It is observed that investors are adopting a cautious approach as we approach the presidential and parliamentary elections in December, 2024, reflecting concerns about potential market volatility.<\/p>\n<p>Priority is being given to short-term investments, particularly in light of potential risks associated with the market environment. Indeed, IC Securities emphasised the need for caution and liquidity \u2013 highlighting election-related risks and the broader risk-off environment.<\/p>\n<p>Consequently, the firm is focusing on short-term repos and fixed deposits with reputable banks, while keeping a close eye on interest rates and inflation trends. The firm\u2019s emphasis on liquidity is a direct response to potential market uncertainties ahead of the elections.<\/p>\n<p>The company also points to stability of interest rates, with yields for government bills remaining relatively unchanged. Currently, the 91-day and 182-day bills stand at approximately 24 percent and 26 percent respectively, while the 364-day bill is at about 27.9 percent.<\/p>\n<p>Although inflation dropped faster than expected, by 80 basis points to 20.9 percent in July, the cedi continues to depreciate against the U.S. dollar \u2013 now trading at around GH\u00a216 on the retail market.<\/p>\n<p>This, combined with steady yields, could influence Bank of Ghana (BoG) Monetary Policy Committee (MPC) decisions in coming months.<\/p>\n<p>Therefore, IC Securities anticipates a possible rate cut by the MPC as global central banks are expected to pivot away from the rate-hike cycle soon. However, the firm cautions that any rate cut could put more pressure on the cedi, potentially weakening it further against the dollar.<\/p>\n<p>The firm\u2019s outlook on interest rates suggests that while a potential rate cut could push yields lower, it also presents an opportunity to lock-in higher yields for longer maturities.<\/p>\n<p>However, IC Securities is maintaining its focus on shorter-term investments to protect against election-related risks, reflecting its caution regarding market uncertainties as elections approach.<\/p>\n<p>Databank also echoed this sentiment by outlining a similarly cautious approach to navigating Ghana\u2019s fixed-income market in second-half 2024.<\/p>\n<p>Liquidity challenges in the market could persist \u2013 especially as commercial banks focus on balancing their reserves and managing systemic risks, says Databank\u2019s report.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Priority is being given to short-term investments, particularly in light of potential risks It is observed that investors are adopting a cautious approach as we approach the presidential and parliamentary elections in December, 2024, reflecting concerns about potential market volatility. Priority is being given to short-term investments, particularly in light of potential risks associated with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":210298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-216906","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investors express cautious optimism as Ghana goes to the polls - Ghanamma.com<\/title>\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.ghanamma.com\/2024\/09\/12\/investors-express-cautious-optimism-as-ghana-goes-to-the-polls\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investors express cautious optimism as Ghana goes to the polls - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Priority is being given to short-term investments, particularly in light of potential risks It is observed that investors are adopting a cautious approach as we approach the presidential and parliamentary elections in December, 2024, reflecting concerns about potential market volatility. 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