Central Bank | - Part 11

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

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…

Chart of the Week: Market Implied Probabilities of Changes in US Fed Rate ….

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Lagos, Nigeria, Capital Markets in Africa — The market is now significantly more confident of a Federal Reserve hike in interest rates in December, as US payroll numbers released on Friday 6th November 2015 significantly beat analyst expectations. US non-farm payroll jobs grew by 271,000 in October, compared analyst expectations of 150,00-190,000, and well above the 142,000 increase in September. Whereas the unemployment remained at 5.0 percent and average hourly earnings for non-farm employees rose…

Bank of Uganda raises Central Bank Rate by 1.0 percent to 17 percent

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Kampala, Uganda, Capital Markets in Africa — Bank of Uganda has raised the Central Bank Rate (CBR) by 1.0 percentage points to 17 percent in October 2015, according to a Monetary Policy statement, issued by Governor Professor Emmanuel Tumusiime -Mutebile. This increase has resulted to cumulative increase of 6.0 percentage points in 2015, the previous increases were 1.0 percentage points (in April and June meetings) and 1.5 percentage points (in July and August meetings). In the Monetary…

Nigerian MPC At a Crossroad; Between Domestic Stability and External Balance

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Lagos, Nigeria, Capital Markets in Africa — The Nigerian Monetary Policy Committee (MPC) will be sitting for its 5th session this year between 21st and 22nd September 2015 to review developments in the global and domestic economy, together with the financial market since its last meeting (23rd and 24th July 2015). It is expected that deliberation at the meeting will center on the slowing domestic growth, persistent exchange rate uncertainty, increasing risk perception in the local…

Morocco Central Bank keeps interest rate on hold at 2.5 percent

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Casablanca, Morocco (Capital Markets in Africa):- Morocco’s central bank, or Bank Al-Maghrib, kept its benchmark interest rate unchanged at 2.5 percent on Tuesday, saying that inflation would remain consistent with price stability targets. Inflation is expected to reach 1.5% in 2015 and 1.4% on average over the next six quarters. However, there are external uncertainties over oil prices, according to the central bank. A decline in global oil prices revived Morocco’s public finances and slashed…

Nigerian central bank orders lenders to get tough with bad debtors

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LAGOS (Reuters) – Nigeria’s central bank ordered banks on Friday to crack down on borrowers with non-performing loans (NPLs) in a move aimed at avoiding a repeat of a 2009 industry bailout that cost the government $4 billion. A sharp drop in the global price of oil, Nigeria’s main export, has triggered a currency crisis in Africa’s largest economy and strained government’s finances, while also harming the cash flow of some companies with foreign currency…

Cameroon to issue up to 55 bln CFA francs in bonds in Q2

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YAOUNDE (Reuters) – Cameroon will issue up to 55 billion CFA francs ($92 million) in treasury bonds in the second quarter of 2015, state radio quoted on Monday the finance ministry as saying.The central African state said earlier this year it planned to issue nearly three times as much debt this year as in 2014 amid a shortfall in oil revenues due to slumping global crude prices.The ministry said treasury bonds would be issued on…

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