Ghana cuts interest rates by 3% as inflation eases

Breakdown

• Ghana's central bank cut its key interest rate by 3 percent, from 28 to 25 percent.
• The rate cut is the largest in the country's history, reflecting easing inflation. 17s
• Consumer inflation dropped to 13.7 percent year-on-year in June, the sixth consecutive monthly decline. 43s
• Despite lower inflation, many Ghanaians still face a high cost of living, with food inflation at 16.3 percent. 27s
• The IMF has acknowledged Ghana's progress in economic reforms and debt restructuring. 51s