Ghana's central bank kept its main interest rate unchanged at 19%, Governor Ernest Addison said on Monday, citing a deceleration of the rate of inflation and concerns over economic growth.
A man trades U.S. dollars for Ghanaian cedis at a currency exchange office in Accra, Ghana, File. REUTERS/Francis Kokorokounchanged at 19%, Governor Ernest Addison said on Monday, citing a deceleration of the rate of inflation and concerns over economic growth.
Addison said the bank was pausing to observe the impact on inflationary pressures of recent rate hikes and other policies, noting that the bank had observed that inflation had persisted and broadened to almost all items in the consumer basket."The was of the view that it will appropriate to pause and observe the impact of the recent monetary policy measures already taken," Addison told a news conference in Accra.
He added that financing of Ghana's budget was entirely from domestic sources during the first half of the year, as planned borrowing from international sources did not materialise.
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