BoG Will Maintain Rates Through End-2015

BMI View: The Bank of Ghana (BoG) will maintain its key policy rate at 22.0% through the remainder of 2015. Although inflation will slow as the massive appreciation of the cedi in July feeds through, it is still far above the bank's target level, and the authorities are eager to rein in price growth.As we expected, the BoG's monetary policy committee elected to maintain its key policy rate at 22.0% at its most recent meeting from July 13-15. This followed a surprise hike at the previous...

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