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Ghana Lifts Key Rate to 18% Day After Curbing Currency Trade

Ghana’s central bank increased its benchmark rate by 2 percentage points, a day after it announced curbs on foreign-currency trading to halt a slide in the cedi.

The key lending rate was raised to 18 percent, Governor Kofi Wampah told reporters today in Accra, the capital. That’s the second-highest of 62 nations monitored by Bloomberg after Belarus. All seven economists predicted policy makers will lift the rate, with forecasts ranging from 17 percent to 18 percent.