Ghana Halts Interest-Rate Hikes on Growth Concerns

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Ghana’s central bank unexpectedly left its benchmark interest rate unchanged, signaling concern about the outlook for economic growth as monthly inflation slows.

The monetary policy committee maintained the policy rate at 19%, Governor Ernest Addison told reporters Monday in the capital, Accra. That’s after cumulative rate hikes of 550 basis points since November. Only three of 10 economists in a Bloomberg survey forecast the unchanged stance.

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