ACCRA: Ghana’s central bank on Friday kept its main interest rate unchanged at 28.00%, saying consumer inflation was expected to ease further this year.
Governor Johnson Asiama said at the opening of the monetary policy committee meeting on Wednesday that while the inflation outlook was improving, it remained vulnerable to food supply constraints and external price shocks.
Consumer price inflation slowed for a fourth month in a row in April, to 21.2% year on year from 22.4% in March. It remains well above the Bank of Ghana’s targets of 8% with a margin of error of 2 percentage points.
The gold, oil, and cocoa-producing West African nation is recovering from its most severe economic crisis in decades, facing challenges in its critical cocoa and gold industries.
Comments
Comments are closed for this article.