Ghana Central Bank Holds Rate at 13.50%

The Monetary Policy Committee of the Bank of Ghana held its Monetary Policy Rate at 13.50%. Ghana recorded inflation of 9.1% in January, up from 8.6% in December, while food price inflation climbed to 4.8% from 4.5%. The Bank of Ghana noted that "looking ahead, the forecast for inflation though slightly elevated, is expected to remain within the target band of 8.5 per cent, +/- 2 per cent by the end of 2011."

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