Stable rates, fragile recovery: Ghana’s economy enters a delicate new phase

• Inflation falls sharply to 3.4%
• Businesses eye cheaper credit expansion

ACCRA, GHANA — Bank of Ghana kept its benchmark interest rate unchanged at 14.0% on Wednesday, signalling confidence in the country’s economic recovery while warning that global and domestic risks still threaten Ghana’s fragile stability.

The widely expected decision followed the central bank’s 130th Monetary Policy Committee meeting and comes at a pivotal moment for Ghana’s post-crisis recovery, with inflation slowing sharply, investor confidence gradually returning and pressure growing for cheaper credit to stimulate growth.