The Charts Showing Why Ghana Central Bank May Cut Key Rate
- Inflation rate has plummeted but still exceeds target range
- Currency has strengthened after reaching record low to dollar
Accra, Ghana.
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Ghana’s central bank may cut its key interest rate for a third straight meeting with inflation at its slowest in four years and a strengthening currency.
Consumer-price growth has tumbled 7.1 percentage points since reaching an all-time high of 19.2 percent in March last year. While the cedi weakened to a record low against the dollar on March 2, it has strengthened 8.2 percent since then. The median of seven economists’ estimates is for a 100 basis-point cut in the key rate to 21.5 percent on Monday.