Ghana Central Bank set to raise interest rates to curb inflation

Razia Khan, head of Africa research at Standard Chartered, said the risk of not tightening would be to allow inflation to become more generalized, which in turn could force the Bank to aggressively increase rates in the future. “A rise in rates would ease external pressure on the cedi but the market also wants measures to enforce its regulations on foreign exchange dealing,” said Kobla Nyaletey, a dealer at Barclays Ghana.

He also told Reuters, “We also expect the authorities to come out with some transformational policy game-changer for the long term,” he told Reuters.

Source: The Africa Report

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