{"id":23609,"date":"2011-09-02T16:11:00","date_gmt":"2011-09-02T20:11:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?guid=62349b0bd348c0158f93794830289796"},"modified":"2011-09-02T16:11:00","modified_gmt":"2011-09-02T20:11:00","slug":"bank-of-ghana-holds-interest-rate-at-12-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/09\/02\/bank-of-ghana-holds-interest-rate-at-12-50\/","title":{"rendered":"Bank of Ghana Holds Interest Rate at 12.50%"},"content":{"rendered":"
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The Bank of Ghana<\/a> held its key lending rate unchanged at 12.50%, pausing after two consecutive 50 basis point cuts.  Bank of Ghana Governor, Kwesi Amissah-Arthur, said: “Inflation expectations are well-anchored and have  stabilized along the single digit path, supported by favourable food prices. The rate has continued to decline and the 9 per cent target for the year is achievable.” However the Bank also noted: “Despite the improved macroeconomic fundamentals, upside risks to inflation are emerging in the form of the adjustment in utility tariffs, wage pressures and other oil-induced and external pressures that may result in the overheating of the economy.”<\/span><\/span>
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The Bank of Ghana previously reduced its lending rate<\/a> by 50 basis points to 12.50% at its July meeting, after also cutting 50 basis points<\/a> at its May meeting this year.  Ghana reported inflation of 8.4% in July, compared to 8.6% in June, 8.9% in May, 9.0% in April, and 9.1% in March.  Ghana’s economy grew 23% in the March quarter, compared to 9.5% in the previous three months, as Africa’s newest oil exporter saw export earnings boosted by oil sales, as well as a high gold price and cocoa volumes.  Ghana’s currency, the cedi (GHS), last traded around 1.53 against the US dollar, placing the GHSUSD rate up about 3% this year.<\/p>\n

www.CentralBankNews.info<\/a><\/span><\/span><\/div>\n

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The Bank of Ghana held its key lending rate unchanged at 12.50%, pausing after two consecutive 50 basis point cuts.  Bank of Ghana Governor, Kwesi Amissah-Arthur, said: “Inflation expectations are well-anchored and have  stabilized …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-23609","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/23609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=23609"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/23609\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=23609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=23609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=23609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}