Ghana’s revised GDP, Uganda hikes, Rand faces tough month

New GDP figures have presented a more flattering picture of Ghana’s economy, though obviously actual output remains unchanged. The Bank of Uganda hiked its key interest rate this week, adding to signs that Africa’s wave of policy loosening is over. Looking ahead, there will be pressure on the South African rand this month as Moody’s reviews the country’s credit rating (Oct 12^th) and the government outlines new fiscal plans (Oct 24^th).