ACCRA, July 6 – The Bank of Ghana cut its prime policy rate by 50 basis points to 12.50 percent on Wednesday, saying inflation was under control despite economic growth currently running at over 20 percent a year.
Analysts had been split between those expecting a small cut and those forecasting it to be kept on hold. Some suggested the bank’s view on inflation prospects was rosy and warned it might have to reverse its stance if price pressures grew.
Source: Reuters Africa newsletter
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