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Bank of Ghana May Raise Benchmark Rate to Tame Inflation

The Bank of Ghana will probably raise the benchmark interest rate for the first time since May to tame inflation that quickened the most in more than three years because of a weak currency and higher fuel prices.

Central bank Governor Kofi Wampah will probably increase borrowing costs at least 25 basis points, or 0.25 percentage point, to 16.25 percent, according to the median estimate of eight economists surveyed by Bloomberg. The decision will be announced tomorrow at 11 a.m. in the capital, Accra. Four of the analysts surveyed said the bank will hold the rate at 16 percent.