Ghana Increases Benchmark Interest Rate To An All Time Record, As The President Promises To Fight Cedi Fall.
Following the skyrocket inflation rate recorded by Ghana, the Bank of Ghana has devised measures to tame the tide by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it…
Bank Of Ghana Increases Interest Rate By 22% Over Rising Inflation, Forex Crisis.
Ghana Cedi is experiencing the worst performance in 17 years shedding further 2.7% in Monday. Ghana’s central bank on Wednesday delivered its biggest rate hike ever, a 300 basis point increase to 22% (GHCBIR=ECI), at an emergency meeting to address the…