Central Banks
Ghana’s New Central Bank Governor Surprises With Rate Hike
The decision to hike was taken to firmly anchor inflation, Asiama said.
Photographer: Ernest Ankomah/BloombergThis article is for subscribers only.
Ghana’s new central bank Governor Johnson Asiama showed his commitment to fighting inflation by unexpectedly raising the benchmark interest rate.
The monetary policy committee lifted the policy rate to 28% from 27%, Asiama told reporters at a press briefing in Accra, the capital on Friday. None of the five economists in a Bloomberg survey expected an increase - the first since July 2023. It was Asiama’s first policy decision since replacing Ernest Addison as governor in February.