Ghana's central bank left its monetary policy rate steady at 17.0 percent, as expected, but said its latest inflation forecasts "show some marginal elevation of the disinflation path" when looking at the rise in petroleum prices, exchange rate depreciation, higher taxes, tighter global financial conditions and higher global inflation.
Fitch Ratings has affirmed Ghana's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B' with a Stable Outlook.
The Bank of Ghana has revoked the licenses of 5 banks namely; uniBank Ghana Limited, The Royal Bank Limited, Beige Bank Limited, Sovereign Bank Limited, and Construction Bank Limited. Consolidated Bank Ghana which has been granted a universal banking license will be the Receiver of the 5 banks.
The Bank of Ghana announced on Monday its decision to hold the benchmark policy rate at 17 percent.This decision comes in the wake of rising headline inflation and currency depreciation.
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