Posted 3/25/2024, 6:18:47 AM
Ghana Central Bank Faces Twin Threats of High Inflation and Weak Cedi Ahead of Expected Rate Decision
- Ghana's central bank expected to keep interest rates unchanged on Monday to address inflation and cedi currency weakness
- The cedi has lost 5% against the dollar since last rate cut in January
- Inflation remains above 23% target, economic uncertainties around debt restructuring persist
- Analysts expect further cedi weakness, reserves unable to defend currency
- Presidential elections in December may also influence central bank's decision to avoid triggering portfolio outflows
