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LinkedIn Tumblr Ghana Holds Rate Steady as US-Iran War Drives Inflation RiskGhana’s central bank joined a growing
number of peers keeping interest rates higher for longer as renewed hostilities between the US and Iran bring fresh
inflation risks.Author of the article:Bloomberg NewsEkow Dontoh and Moses Mozart DzawuPublished Jul 22, 2026Last updated
20 hours ago1 minute read Join the conversation You can save this article by registering for free here. Or sign-in if
you have an account.Johnson Asiama Photo by Kent Nishimura /BloombergArticle content(Bloomberg) — Ghana’s central
bank joined a growing number of peers keeping interest rates higher for longer as renewed hostilities between the US and
Iran bring fresh inflation risks. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in
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favourite authorsSign In or Create an AccountEmail AddressContinueor View more offersIf you are a Home delivery print
subscriber, online access is included in your subscription. Activate your Online Access NowArticle contentThe monetary
policy committee unanimously decided to maintain the rate at 14%, Governor Johnson Asiama told reporters in Accra, the
capital, on Wednesday, in line with expectations. The decision matches similar announcements by Nigeria and Canada this
month.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see
other videos from our team. Back to video Article contentArticle contentThe “stance remains appropriate to guide
inflation into the medium-term target band, while allowing time to assess the evolving geopolitical developments and
their potential impact on the domestic economy,” Asiama said.Article contentTop StoriesGet the latest headlines,
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don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an
issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentInflation is projected
to rise gradually into the central bank’s 6% to 10% target band, with potential upward adjustments in utility tariffs,
escalating geopolitical tensions in the Middle East and the associated increase in oil prices posing risks to the
outlook, he said. Article contentAnnual inflation quickened at the fastest pace this year to 5.3% in June from 3.7% in
May.Article contentRenewed tensions in the Middle East this month have sent oil and fertilizer prices higher after a
fresh blockade of the Strait of Hormuz, a critical trade waterway.Article contentThe US military conducted an 11th
straight day of attacks on the Islamic Republic overnight Tuesday in an effort to degrade the country’s abilities to
threaten commercial shipping in the strait, according to US Central Command. Article contentInternational reserves fell
to $12.9 billion at end-June from $13.8 billion at end-December, enough to cover five months of imports, because of
elevated energy-related payments linked to the Iran war, Asiama said.Article contentThe central bank expects economic
growth of around 6% this year, although the Middle East conflict poses downside risks, he said.Article contentSign up
here for the daily Next Africa newsletter and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you
listen.Article content(Updates with international reserves in penultimate paragraph)Article contentAdvertisement 1This
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