Accra — Ghana’s central bank on Monday held its main interest rate (GHCBIR=ECI) at 30.0% after annual inflation slowed for the third month in a row in October.
The West African cocoa, gold and oil producer is in talks with bilateral and commercial creditors to restructure its debts amid its worst economic crisis in a generation.
Ghana’s inflation (GHCPIY=ECI) slowed to 35.2% on a year-on-year basis last month, from 38.1% in September and 40.1% in August. The Bank of Ghana targets inflation of 8% with a margin of error of 2 percentage points either side of that.
*Maxwell Akalaare Adombila & Christian Akorlie; Anait Miridzhanian; editing: Alexander Winning – Reuters
