Central Bank | - Part 25

Botswana’s Central Bank Keeps Benchmark Rate Unchanged at 6.00%

Gaborone, Botswana, Capital Markets in Africa — Bank of Botswana maintains the Bank Rate at 6 percent at the Monetary Policy Committee (MPC) meeting held on the 9 December 2015, according to a press release by the bank. In 2015, the MPC had cut the Bank Rate in February and August by 100 basis points (from 7.50 percent) and 50 basis points (from 6.50 percent) respectively. However, maintained the Bank Rate of 6 percent and 6.50 percent…

Bank of Namibia Leaves Repo Rate Unchanged at 6.5%

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Windhoek, Namibia, Capital Markets in Africa — Bank of Namibia keeps the Repurchase (Repo) rate unchanged at 6.50 percent at the Monetary Policy Committee (MPC) meeting held on the 8 December 2015, according to statement issued by Governor of the Bank, Mr. Ipumbu Shiimi. In the statement, the decision to keep the rate at 6.50 percent was underpinned by the recent downward trend in the growth of instalment credit extended to households and the need to continue…

Nigeria’s Central bank substantially loosen monetary policy by cutting benchmark rate to 11%

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LAGOS, Nigeria, Capital Markets in Africa — On 24 November 2015, the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting was held where the MPC resolved to reduce the monetary policy rate (MPR) to 11 percent from 13 percent, Governor Godwin Emefiele told journalists today. Nigeria’s central bank reduced its benchmark interest rate for the first time in six years, deviating from its counterparts in most of African countries that have tightened monetary policy in…

South Africa Reserve Bank hikes Repo Rate to curtail inflation and strengthen rand …

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Johannesburg, South Africa, Capital Markets in Africa — The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) unexpectedly raised the Repurchase Rate by 25 basis points to 6.25 percent, according to the press release issued on Thursday 19 November 2015 and signed by the SARB Governor Lesetja Kganyago. The MPC also lowered its inflation and growth forecasts for 2015, it also warned of the risk of price pressures spreading because of a weakening rand…

Kenya holds Lending Rate Unchanged at 11.5% as Kenyan Shilling Stabilizes, Inflation Ease …

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Nairobi, Kenya, Capital Market in Africa — The Central Bank of Kenya (CBK) kept its key Central Bank Rate (CBR) unchanged as the Kenyan shilling stabilized against the US dollar and easing pressure on inflation, according to the statement signed by Governor Patrick Njoroge. The Monetary Policy Committee retained the lending interest rate for a third consecutive meeting at 11.5 percent after an increase of 150 basis points each in June and July to cushion the effect of Kenya…

Bank of Mozambique hikes Marginal Lending Facility rate by 50bps to 8.25% to curb inflation …

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MAPUTO, Mozambique, Capital Markets in Africa — Mozambique’s central bank raised its benchmark standing facility rate by a further 50 basis points to 8.25 percent, citing the need for “redoubled caution” in light of the prospects for short and medium-term inflation at a time of growing foreign and domestic risks, according to stated issued by the Bank of Mozambique. The bank has raised its rate by 75 basis points so far in 2015 following an…

Bank of Ghana Unexpectedly hikes Policy Rate by 100 basis points to 26%

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ACCRA, Ghana, Capital Markets in Africa — The Bank of Ghana (BoG) announced a hike in its benchmark policy rate from 25 per cent to 26 per cent following at the end of the 67th Monetary Policy Committee (MPC) meeting held on Friday 13 November 2015. The central bank Governor, Dr Henry Kofi Wampah, told a media briefing on Monday 16 November that the inflation stood at 17.4 per cent in October, unchanged from September…

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