Economics
Ghana’s Central Bank Cuts Key Rate for First Time Since 2011
- Inflation slowed to 15.8% in October from 17.2% in September
- Ghanaians scheduled to vote in general elections on Dec. 7
The Bank of Ghana, in Accra, Ghana.
Photographer: Ty Wright/Bloomberg NewsThis article is for subscribers only.
Ghana’s central bank cut its benchmark interest rate for the first time in more than five years after inflation slowed to the lowest rate since 2014.
The Bank of Ghana cut the rate by 50 basis points to 25.5 percent, Governor Abdul Nashiru Issahaku told reporters Monday in the capital, Accra. Five of the six economists in a Bloomberg survey forecast the rate would be reduced and one said it would be kept unchanged at 26 percent.