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Bank of Ghana holds policy rate at 28% as inflation eases to 18.5%

The Bank of Ghana's Monetary Policy Committee has held the benchmark policy rate at 28 per cent, citing easing inflation and exchange rate stability.

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The Bank of Ghana's Monetary Policy Committee (MPC) has held the benchmark policy rate at 28 per cent for the third consecutive meeting, citing easing inflationary pressures and a more stable exchange rate.

Governor Dr. Ernest Addison said headline inflation had declined to 18.5 per cent in February from a peak of 54.1 per cent in December 2022.

The cedi has stabilised at approximately GH¢14.2 to the US dollar — a significant improvement from its historic low.

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