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 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.”
