Ghana’s central bank is expected to reduce its key interest rate by an additional 100 basis points. – Fitch Solutions 

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Fitch Solutions expects Ghana’s Central Bank to deliver a further 100 basis point reduction in its key interest rate next month, extending July’s sharp easing as inflation cools and the cedi strengthens.

The research arm of Fitch Ratings forecasts the Bank of Ghana’s Monetary Policy Committee will lower the benchmark policy rate to 24 percent at its September meeting, citing a rapid deceleration in consumer prices.

The anticipated cut would follow July’s 300 basis point reduction to 25 percent, which the Central Bank justified by pointing to stronger macroeconomic indicators, anchored inflation expectations, improved foreign reserves, and rising investor confidence.

Source: newsthemegh.com