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Ghana central bank cuts interest rate by 100 basis points to 22.5 pct
May 22, 2017 / 11:30 AM / 3 months ago

Ghana central bank cuts interest rate by 100 basis points to 22.5 pct

ACCRA, May 22 (Reuters) - Ghana's central bank lowered its benchmark interest rate on Monday by 100 basis points to 22.5 percent, citing a downward trend in inflation towards medium term targets of 8 percent plus or minus 2 percentage points, Governor Ernest Addison said.

The cut, which economists had expected, reflected lower risks to inflation despite a rise in the figure to 13.0 percent in April due to higher petroleum prices, Addison told a news conference.

Reporting by Kwasi Kpodo; Writing by Matthew Mpoke Bigg; Editing by

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