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Ghana raises main policy rate 200 bps to 18 pct -central bank
February 6, 2014 / 12:20 PM / 4 years ago

Ghana raises main policy rate 200 bps to 18 pct -central bank

ACCRA, Feb 6 (Reuters) - Ghana’s central bank raised its main policy rate by 200 basis points on Thursday to 18 percent in response to external pressures and in a drive to curb a fall in the cedi currency, Governor Henry Kofi Wampah told a news conference.

The rise was the first shift in the rate since May and had been expected, though most analysts forecast a 100 basis point rise. Wampah brought forward the Bank’s Monetary Policy Committee meeting from Feb 19. (Reporting by Kwasi Kpodo; Writing by Matthew Mpoke Bigg; Editing by Daniel Flynn)

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