Categories: Business

Ghana Holds Key Policy Rate at 14.5% to Support Economic Activity

The Bank of Ghana kept its interest rates unchanged at an eight-year low of 14.5% during its November meeting. Governor Ernest Addison said this while addressing the media today in Accra.

The decision aims to continue supporting economic activity as it waits for the full impact of coronavirus measures to filter through the economy.

West Africa’s second largest economy, will be the key issue in the December 7 general elections when Akufo Addo takes on his predecessor John Dramani Mahami of the National Democratic Congress in a bid to renew his term for another four years.

Meantime, inflation eased for the third consecutive month to 10.1% in October and it is expected to return to within the bank’s 6-10 percent target by the second quarter of 2021

Follow us on:

AriseNews

Recent Posts

Trump Nominates Billion Dollar Buyer Host Tilman Fertitta as US Ambassador to Italy

Donald Trump has selected businessman Tilman Fertitta, owner of the Houston Rockets, to serve as…

2 minutes ago

Ten Family Members Die in Private Plane Crash in Brazil

A plane crash in Gramado, Brazil, killed ten family members, including businessman Luiz Claudio Galeazzi,…

13 minutes ago

Man Arrested in New York for Setting Woman on Fire in Brooklyn Subway

A suspect has been apprehended in Brooklyn subway after woman was set ablaze and died…

16 minutes ago

Bridge Collapse In Brazil Kills One, Spills Sulfuric Acid Into River

A Brazilian bridge collapse has killed one person and spilled sulfuric acid into the Tocantins…

21 minutes ago

Anambra Police Confirm 22 dead in Stampede as Governor Soludo Mandates Safety Protocols for Future Palliative Distributions

Governor Soludo has expressed grief over Okija stampede, urges safety-first approach for future food distribution…

26 minutes ago

Slovak PM Robert Fico Surprises Putin in Moscow, Discusses Gas Supplies and Ukraine Conflict

Slovak PM Robert Fico made a surprise visit to Moscow for gas talks with Putin,…

28 minutes ago