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Ghana Holds Key Policy Rate at 14.5% to Support Economic Activity

The Bank of Ghana kept its interest rates unchanged at an eight-year low of 14.5% during its November meeting. Governor Ernest Addison said this while addressing the media today in Accra.

The decision aims to continue supporting economic activity as it waits for the full impact of coronavirus measures to filter through the economy.

West Africa’s second largest economy, will be the key issue in the December 7 general elections when Akufo Addo takes on his predecessor John Dramani Mahami of the National Democratic Congress in a bid to renew his term for another four years.

Meantime, inflation eased for the third consecutive month to 10.1% in October and it is expected to return to within the bank’s 6-10 percent target by the second quarter of 2021

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