Ghana central bank keeps policy rate unchanged at 20pc

ACCRA: Ghana's central bank kept its benchmark interest rate at 20 percent on Monday, citing the need to keep inflation within its medium-term target of 8 percent plus or minus two percentage points, governor Ernest Addison told a news conference in the capital Accra.

The major commodity exporter is in its final year of a $918 million credit deal with the International Monetary Fund to narrow deficit, debt and inflation. The Central bank has eased rates by 550 basis points in the past year to foster growth.