Ghana

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.

Ghana's central bank lowered its monetary policy rate by a further 100 basis points to 17.0 percent on subdued risks to the inflation outlook and "while global and domestic developments do not yet pose a threat to inflation in the near term, recent changes in global financing conditions and its impact on emerging market asset classes requires some vigilance."

Ghana has successfully raised 2 billion U.S. dollars in a double tranche Eurobond in the global capital market, the Ministry of Finance said Friday.Half of the proceeds (1 billion dollars) is a 10-year note at 7.625 percent while the other half (1 billion dollars) is Ghana's first ever 30-year issuance at 8.625 percent.

Ghana's central bank lowered its monetary policy rate by a further 200 basis points to 18.0 percent, saying inflation is continuing to decline amid moderate price pressures, and it is on course to meet the its inflation target within the forecast horizon.