Ghana is poised to extend its steepest-ever phase of interest-rate hikes on Monday to put a lid on lofty inflation and shore up its currency.
Most economists surveyed by Bloomberg predict the monetary policy committee will lift the key rate by 200 basis points, one forecasts an increase of 250 basis points and two a hold. The MPC has already doubled interest rates since November 2021 as it deals with its worst inflation shock in decades.
A hike of that size would be the largest of any central bank so far this year.
The MPC prefers to keep interest rates above inflation in order to attract investment. The upswing in prices has left Ghana with the third most negative real rate in the world after Turkey and Sri Lanka.
