Monday, February 17, 2025

In this week's edition:

• U.S. Stocks Ended Last Week Higher Amid Policy Shifts and Tariff Developments.
• Ghana's Treasury Receives Record GHS 17.70 billion in Bids Amid Significant Yield Decline.
• Ghana Stock Exchange Posts 2.08% Weekly Gain, YTD Return Reaches 9.47%.

Kindly click to view the full report: Global Market Update - February 17, 2025

• On the back of gains in MTNGH (1.67%) and EGH (1.00%), the two major indices on the GSE trended upwards last week.
• Against a target of GHS 1,012.00m which the Government sought to raise from 91 and 182-Day Bills, a total of GHS 1,179.40m was raised from these issuances. Also, a total of GHS 371.72m was raised from the rollover of a maturing 2-Year Bond, falling short of a target of GHS 1,200.00m.

ECONOMIC SCOOP

The Institute for Energy Security (IES) predicts between 3% - 5% increase in fuel prices

• The IES projects this increase to come into effect this week in the first pricing window of the month.
• This rise in prices is projected on the back of a likely extension of the period of production cuts by OPEC+ which could last up to the first quarter of 2021.
• At the end of November 2020, the price of Brent crude oil was up to around $48, the highest level since March this year.

Read full read here

Monday, February 10, 2025

In this week's edition:

•         Gold repeatedly set new records last week, amid increased global uncertainties.
•         Ghana’s Treasury rejected GHS2.9 billion at last week’s auction.
•         The Ghanaian Composite Index rose by 3.01% w/w, marking its highest rally in 12 weeks.

Kindly click to view the full report: Global Market Update - February 10, 2025

• Losses in GGBL, MTNGH and CAL resulted in declines on the two major indices, with the GSE-CI closing at 1,806.94 points and the GSE-FSI ending the week at 1,622.81 points.
• Last week’s treasury auction closed with a success rate of 95.80%, with issuances across all Treasury Bill tenors as well as a 3-Year Bond issuance.

ECONOMIC SCOOP

Bank of Ghana (BoG) maintains policy rate at 14.50%    

• On account of a steady recovery in economic activity and easing in inflationary pressures in Q3 2020 the BoG has maintained the policy rate at 14.50% p.a.
• The BoG Composite Index of Economic Activity (CIEA) which witnessed contraction during Q2 2020 recorded a rebound in Q3 2020, closing the quarter with 10.50% y/y rise in September.
• However, Government continues to face limited fiscal space for the next couple of quarters as debt-to-GDP ratio reached 71% in October 2020.

Read full report here