Ghana Cuts Key Rate to Lowest Since 2015
- Inflation has slowed to 12.1% from record 19.2% in March 2016
- Cedi has recovered from record low against dollar this year
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Ghana’s central bank reduced its key interest rate for a third straight meeting as consumer prices rose at the slowest rate in four years and the currency strengthened.
The Bank of Ghana cut the rate to 21 percent from 22.5 percent, Governor Ernest Addison told reporters Monday in Accra, the capital. That’s the lowest rate since early 2015. The median of nine economists’ estimates was for a cut to 21.5 percent.