May 22, 2017 / 11:57 AM / 2 years ago

Ghana central bank cuts interest rate by 100 basis points to 22.5 pct

Pedestrians walk in front of Ghana's central bank building in Accra, Ghana, November 16, 2015. REUTERS/Francis Kokoroko/File Photo

ACCRA (Reuters) - Ghana’s central bank lowered its benchmark interest rate on Monday by 100 basis points to 22.5 percent, citing a downward trend in inflation towards medium term targets of 8 percent plus or minus 2 percentage points, Governor Ernest Addison said.

The cut, which economists had expected, reflected lower risks to inflation despite a rise in the figure to 13.0 percent in April due to higher petroleum prices, Addison told a news conference.

Reporting by Kwasi Kpodo; Writing by Matthew Mpoke Bigg; Editing by

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