Ghana's central bank left its policy rate steady, saying the rise in inflation to above its target was driven by food prices and while short-term risks to inflation from fiscal expansion and rising crude oil prices are emerging, it still expects inflation to return to the target in the second quarter.
As part of the medium-term plan for the trade of commodities in Ghana, the Ghana Commodity Exchange (GCX) is considering listing on its trading floor the light cocoa bean, which is mostly consumed by domestic processors.
The World Bank has revised Ghana’s 2021 growth rate and forecasted the economy to grow at 1.4 percent this year.
The Producer Price Inflation (PPI) rate rose slightly in November to 8.8 percent compared with a revised 8.4 percent recorded in October.
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