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ACCRA, July 23 (Reuters) – Ghana's central bank kept its benchmark interest rate unchanged at 17 percent as expected on Monday. governor Ernest Addison said.
U.S. and China, Addison told reporters in Accra.
Annualized inflation rose for a second time in a row to 10 percent in June while the local currency, which had been fairly stable in the first quarter, depreciated around 6 pct in the last two months, Addison said.
"Global conditions are characterized by geopolitical tensions and uncertainties in the external environment," he said. .
"Given the circumstances, especially with regard to the overall outlook, the committee decided to maintain the monetary policy at 17 percent while closely monitoring developments in the near-term," he added.
Monday's hold was expected and it would "calm the markets", banking badyst Otuo Acheampong told Reuters.
4.79 to the dollar, down from last week's 4.79, Reuters data showed.
The major commodity exports to the public debt amounted to $ 34.9 billion, representing 63.8 percent of GDP at the end of May, while its net international reserves stood at $ 4.15 billion, representing 2.2 months of import cover. (Reporting by Kwasi Kpodo, Editing by Andrew Bolton)
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