‘Baffling’ Inflation Tests Ghana Policy Making, Addison Says
- Central banker reckons inflation at 23.6% in April has peaked
- Addison doesn’t see GDP growth slowing after 5.4% expansion
Ernest Addison
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Surging prices are posing a challenge to Ghanaian policy makers who prefer to have a key lending rate above headline inflation.
The Bank of Ghana already increased the benchmark rate to a three-year high of 17% at its last meeting, pushing the gauge above headline inflation at the time. The most recent data put inflation at 23.6%, leaving policy makers in a tight spot as they prepare to announce their latest stance on May 23.