World’s Highest Real Rate Makes Case for Big Ghana Cut

Ghana’s real interest rate is the highest in the world, giving the central bank scope to deliver a sizable cut in borrowing costs later this month.

The spread between the Bank of Ghana’s policy benchmark at 28% and the annual inflation rate rose to 14.3 percentage points in June after price growth eased to a more than three-year low of 13.7%. That’s the biggest gap since at least 2005 and the highest in the world of 58 economies tracked by Bloomberg.