Ghana’s central bank cuts interest rates to 13.5%

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The Bank of Ghana cut interest rates 100 basis points to 13.5% on May 31 following a sharp drop in inflation.

In a statement, the central bank’s monetary policy committee noted there was evidence of a rebound in economic activity and that inflation pressures had eased to the extent that inflation will be close to the centre of the central bank’s target by June.

“Headline inflation eased sharply to within the medium-term target band, driven mainly by lower food prices and base drift effects, a

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