Ghana's central bank kept its main interest rate at 27.00% on Friday after consumer inflation rose for the second consecutive month in October. Inflation was 22.1% year-on-year in October, up from 21.5% in

The Monetary Policy Committee (CPM) of the Central Bank of Ghana decided to keep the key interest rate (MPR) at 27.0% after its recent meeting. This decision comes in the context of assessing the global economy, national economic conditions and the appropriate monetary policy orientation.

Global inflation is moderating, driven by a drop in energy inflation and an easing of pressures on labor costs. The Federal Reserve, the European Central Bank, and the Bank of England have all cut their key rates by 25 basis points in response to falling inflation rates, signalling a continued restrictive position to ensure that the disinflation process is not disrupted

At the national level, high-frequency indicators in Ghana indicate a continued improvement in economic activity, with an annual growth in the real composite index of economic activity of 2.2% in September 2024. The confidence surveys conducted in October 2024 reflect a sustained recovery in sentiment, with an improvement in business confidence. The Purchasing Managers' Index (PMI) for October 2024 increased to 50.6, indicating improved business conditions