Ghana’s central bank held its benchmark interest rate at 30.0%. This decision follows significant cumulative hikes totaling 16.5 pp since November 2021. The rationale behind the unchanged rate includes factors like lower inflation, a steady exchange rate, and tangible economic performance. The country’s inflation rate dropped to a nearly one-year low of 40.1% YoY in August. In terms of GDP, the growth for Q2 2023 was slightly lower at 3.2%, compared to 3.3% in Q1 2023 and 3.5% from the same period in 2022.