Ghana’s central bank chief forecasts inflation in Africa’s biggest gold producer will slow further after the monetary authority raised borrowing costs and as the new government of President John Mahama cuts spending.

Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank held its key rate at 21% as expected.

Russia left its key interest rate unchanged for a fourth straight meeting, despite a continuing rise in inflation driven by the diversion of men and material to prosecute the invasion of Ukraine.