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Gold-for-Oil Program Suspended by Ghana’s Central Bank Boss

(Bloomberg) -- Ghana’s new central bank chief has suspended the West African nation’s program of paying for oil with gold and said he expects the cedi to stabilize after it’s volatility of last year.Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyHow Upzoning in Cambridge Broke the YIMBY MoldRemembering the Landscape Architect Who Embraced the CityNYC Office Buildings See Resurgence as Investors Pile Into BondsHong Kong Joins Global Stadium Race With New $4

Inflation eases to 2.4% in Europe, supporting likely central bank rate cut

Inflation in Europe eased to an annual 2.4% in February, supporting the case for another interest rate cut from the European Central Bank - but leaving open how far the central bank will go in lowering borrowing costs for an economy that's still struggling to show robust growth. The February figure for the 20 countries that use the euro currency was down from 2.5% in January as energy inflation dwindled and major economy France saw a rate of only 0.9%, the European Union's statistical agency Eurostat reported Monday. The lower consumer price inflation figure supports the view that the ECB is succeeding in its battle to get inflation back to its target of 2% and can focus on supporting tepid growth.

Oil prices stable as tariff and Ukraine uncertainty dominates sentiment

Oil prices were little changed on Monday after registering a monthly loss for the first time since November, while investors await the outcome of efforts to end the Russia-Ukraine war and repercussions from U.S. tariffs. Brent crude rose 31 cents, or 0.43%, to $73.12 a barrel by 1403 GMT, while U.S. West Texas Intermediate crude was up 25 cents, or 0.36%, at $70.01. Ukrainian President Volodymyr Zelenskiy said on Sunday that he believed he could salvage his relationship with U.S. President Donald Trump.