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The purpose of this research is to examine the impact of alterations in the path of monetary policy rates on inflation via the supply side of an emerging economy.

The study employed semi-annual data covering the period 2007S1 to 2020S2 on the inflation rate, the combined outputs of industry and agriculture, the lending rate, and the monetary policy rate. The vector autoregression model was estimated and counterfactual simulation exercises were conducted.

The study revealed that a move from a higher to a lower monetary policy rate regime resulted in a shift in inflation from a higher to a lower regime. In particular, a 200-basis point reduction in the monetary policy rate over the simulation horizon produces a 1.3% fall in the inflation rate over the same period.

The study has a limitation due to the unavailability of a long-span dataset on all relevant variables. As a result, it is important to exercise caution when interpreting the study's findings. A potential area for further research is to explore how changes in interest rates impact inflation in the real economy by utilising other multiple-variable time series techniques.

It is the opinion of the authors that for inflation in Ghana to move to a lower regime, conscious efforts should be made by the monetary authorities to gradually move from a regime of a high monetary policy rate to a lower one.

In particular, a 200-basis point reduction in the MPR over the simulation horizon produces a 1.3% fall in the inflation rate over the same period.

This study enhances the authors' knowledge of how monetary policy can affect inflation in developing countries through the supply-side channel.

This paper explores the implications of financial inclusion and financial development for the conduct of monetary policy in achieving price stability and economic growth in sub-Saharan Africa (SSA).

The paper employs the system-generalized methods of moment (GMM) estimation technique using panel data spanning 2004 to 2019 and sourced from Databases of (International Monetary Fund's) IMF's Financial Access Survey (FAS), IMF's International Financial Statistics (IFS), World Bank's Global Financial Development Database (GFDD) and World Bank's World Development Indicators (WDI).

The authors find that financial inclusion has a double-edge effect in SSA. That is, it increases economic growth and lowers inflation in SSA. Furthermore, the results show that a simultaneous increase in financial inclusion and financial development have restrictive effects on economic growth. On the evidence provided, the authors conclude that financial inclusion is an important predictor of economic growth and the conduct of monetary policy in the sub-region.

This paper expands and contributes to the frontier of knowledge how financial inclusion is important for the conduct of monetary policy by monetary authorities in achieving its intended objectives in SSA. The paper highlights the need for ongoing enhancement of financial inclusion of many governments in the sub-region to achieving high economic growth and price stability. Thus, there is the need for policy makers to ensure that a more stringent, effective and appropriate policies and measures are put in place to enhance financial inclusion while taking into consideration the extent of financial development in SSA.

This paper aims to examine whether financial technology is complementing the performance of domestic financial institutions or substituting their performance in Ghana.

The paper used data from the Bank of Ghana Payment System Statistics and Time Series Data of the Bank of Ghana from 2012 to 2021, by using autoregressive distributive lags estimation technique.

The results showed that in both the long run and short run, financial technology has a significant negative impact on bank performance, indicating that fintech serves as substitutes rather than complements for Ghanaian banks. These results suggest that there must be a critical review on the interoperability policy in Ghana and that banks should take advantage of the financial technology to increase profit.

Based on the authors’ study, no empirical work has been extensively done in the Ghanaian context by examining how financial technology serves as either a complement or substitute for domestic banking institutions. This paper focuses on exploring the key definition of financial technology in Ghana and how transactions through these media are affecting or improving the performance of banks.

The purpose of this paper is to explore the impact of mobile money on savings and saving practices among individuals in Ghana.

Employing an instrumental variable (IV) estimation technique, comprehensive data from the Financial Inclusion Insight (FII) Survey is used, implemented by InterMedia company and conducted from December 2014 to January 2015 in Ghana.

It is found that mobile money use generally increases savings and saving behavior among individuals in Ghana. In particular, our results show that mobile money use increases the probability of individuals saving for business startup or business expansion, child's education and emergencies. Also, for the heterogeneous effects of mobile money use on saving practices, strong evidence that the use of mobile money is more pronounced in rural areas than in urban centers is found.

To the best of our knowledge, no empirical study has been done on Ghana to extensively examine how mobile money affects various saving practices in Ghana as it is done in this paper. The paper highlights the need for ongoing enhancement of financial inclusion in rural areas by the government of Ghana and other stakeholders to boost savings among rural folks, while not neglecting that in urban areas. Generally, the findings for this paper support the use of mobile money as a tool for enhancing the financial inclusion agenda by policymakers in Ghana and many other countries around the world.