Interest Rates: Too Little Too Late?

July 2008 | Market Strategy

BMI View: Following the lower-than-expected 100bps interest rate hike from the Bank of Ghana, we expect a further 150bps in September. In the meantime, we anticipate inflation will increase, the Ghanaian cedi will weaken further, and the spread of the sovereign Eurobond over 10-year US treasuries will continue to widen.

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