Ghana raises rates to 28% despite fall in inflation
Central bank also points to credit risks in banking sector
Ghana’s central bank raised its benchmark interest rate by 100 basis points to 28% on March 28, despite a slight fall in headline inflation.
The Bank of Ghana said that even though headline inflation had declined marginally, it remained a concern, as did core inflation.
Headline inflation slipped to 23.1% in February, down from 23.5% the previous month. Core inflation fell to 22.4% last month, down from 23.8% in December. The central bank added that food inflation also remained high because of
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