Ghana central bank holds policy rate as inflation slows

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Ghana's central bank maintained its main interest rate at 29.5% on Monday, saying tight monetary policy and relative exchange rate stability were helping inflation fall.

Pedestrians walk in front of Ghana's central bank building in Accra, Ghana, November 16, 2015. REUTERS/Francis Kokorokoat 29.5% on Monday, saying tight monetary policy and relative exchange rate stability were helping inflation fall.

The cocoa-, gold- and oil-producing West African nation is grappling with its worst economic crisis in a generation.a $3 billion three-year support programme, allowing for an immediate disbursement of about $600 million and a potential path out of the crisis.for the fourth consecutive month in April after reaching a more than two-decade high of 54.1% in December, to 41.2% year-on-year from 45.0% in March.

"The committee further noted the significant decline in headline inflation from the beginning of the year ... The percentage of items in the CPI basket with inflation of more than 50% is receding," Bank of Ghana Governor Ernest Addison told a news conference.Our Standards:

 

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