Market analyst Professor Eric Osei-Assibey has encouraged the public authority to exhibit monetary discipline constantly to dial back the deterioration of the cedi, keep expansion and loaning rates low.
These and different measures including broadening of the construction of the economy, Professor Osei-Assibey, accepts will make the economy light and thusly facilitate the expense of acquiring in the country.
The public authority has been getting at a high rate on the homegrown market this year, because of an absence of admittance to the global capital market as well as deficient income preparation.
Teacher Osei-Assibey, who is likewise a Board Member of the Bank of Ghana, tells Joy Business government should up its down.
"To address the high loaning rates and devaluation of the cedi, we need to ensure that we expand the economy; we change the construction of the economy".
“We must become more competitive, export more, and make sure that our inflation levels are kept low by producing on large scale. We must also ensure that we have higher productivity and also make sure that there is fiscal discipline all the time”, he added.
According to him, if there is no fiscal discipline, the same old problems will reoccur in the economy.
“If you do all that and there’s no fiscal discipline and government continues to spend more than it generates, government will continue to borrow more and then the cost of borrowing will continually to go up”.
“The Central Bank will have no option than to increase the policy rate to anchor inflationary expectations”, he added