The Ghana Union of Traders’ Association (GUTA) has lauded the central government and the Bank of Ghana for their roles in improving the country’s inflation and exchange rates.

The Ghana cedi in the past weeks has shown resilience and marginally appreciated against other major trading currencies whiles inflation for the past three months has recorded consecutive reductions.

According to GUTA, the improvement in these macroeconomic variables can be attributed to the efforts of the Bank of Ghana and the government hence the need to appreciate the actions of the managers of the economy.

“Indeed, we are very appreciative of the Government’s efforts, and hope that it will bring relief to businesses and lead to the economic transformation we all cherish and desire as a nation.”

In a statement released by GUTA, the President of the Union, Dr. Joseph Obeng, therefore, called on the trading community to “respond positively to the changing trend and adjust prices to reflect the exchange rate.”

GUTA, therefore, called on the government to continue with the efforts and take advantage of the reduction of the exchange rate to further reduce inflation and other costs of doing in the country.

The Trade Union is calling on the government to among other things; sustain the appreciation of the cedi, adjust the customs valuation rate to reflect the current exchange rate, and the reduction in the monetary policy rate.