May 14, 2015 / 9:53 AM / 3 years ago

Ghana rate hike should bolster cedi - cbank governor

ACCRA, May 14 (Reuters) - A 100 basis point interest rate rise in Ghana to 22 percent should help slow the decline of the cedi towards stability and boost the credibility of the central bank, Governor Henry Kofi Wampah told Reuters on Thursday.

Wednesday’s decision was taken in part to bolster reserves and minimize the impact from an expected U.S. rate hike later in the year, he added.

The cedi has fallen more than 17 percent this year on top of a 31 percent drop last year. (Reporting by Kwasi Kpodo; Writing by Matthew Mpoke Bigg; Editing by Ed Cropley)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below