Ghana: record rate hike to curb rising inflation

ACCRA, March 21 (Xinhua) -- Ghana's central bank on Monday announced a tightening of its monetary policy stance with a record hike in the policy rate to slow down inflation.

At a press briefing, Bank of Ghana Governor Ernest Addison announced an increase in the benchmark policy rate by 250 basis points to 17 percent to tame ballooning commodity prices on the local market and curb the rising inflation.