Ghana's central bank holds benchmark policy rate at 26.0 percent

Ghana's central bank held its benchmark policy rate at 26.0 percent on Monday as expected and said inflation should come down towards government targets faster than expected.

The Bank's decision to hold the rate for a fifth successive time is in line with steps taken by authorities to stabilize the macro-economy of the West African country and reduce inflation, which rose slightly to 16.9 percent in August.

"The committee noted the moderation in headline inflation since the July meeting on the back of continued cedi stability, easing inflation pressures and tight credit conditions," Governor Abdul-Nashiru Issahaku told a news conference at the end of a Monetary Policy Committee review meeting. . . . .