Central Banks |

Mozambique Central Bank Trims Rates for Second Time This Year

MAPUTO (Capital Markets in Africa) – Mozambique’s central bank cut rates for the second time this year as price growth continued to moderate. The Monetary Policy Committee reduced the permanent lending facility rate to 22.5 percent from 22.75 percent, Governor Rogerio Zandamela said in a statement on the Maputo-based bank’s website. Inflation slowed to 16.2 percent in July, the lowest since April 2016, having peaked at 26.8 percent in November. “The prevalence of risks to the inflation outlook requires…

Kenya’s Central Bank Holds rate at 10.0 percent, Likely to Sell Dollars

Posted on by The Editorial Team

NAIROBI (Capital Markets In Africa) – At its Monetary Policy Committee meeting this month, Kenya’s central bank held its rate at 10.0 percent. Its Monetary Policy Committee will next meet to set lending rates on Sept.18. While the currencies of Kenya, Nigeria and Tanzania are expected to hold steady, traders said Uganda’s shilling and Zambia’s kwacha are forecast to weaken against the dollar in the next week to Thursday, while Ghana’s cedi will firm. KENYA…

Africa’s Central Bank Monetary Policy Rates and Foreign Exchange Reserves

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Angola’s central bank kept its benchmark lending rate unchanged at 16 percent following a policy meeting on Friday 28th April 2017, the bank said in a statement posted on its website. The National Bank of Angola (BNA) has kept its key rate steady since June last year when it raised it to the current level to curb accelerating inflation. In 2016 the BNA rate was raised 500 basis points….

Nigerian Central Bank Keeps Benchmark Rate Unchanged in Sept

Posted on by The Editorial Team

LAGOS. Capital Markets in Africa: Nigeria’s central bank left its main lending rate unchanged as it weighed supporting the currency and fighting inflation while propping up an ailing economy. The Monetary Policy Committee held the benchmark rate at 14 percent, Governor Godwin Emefiele told reporters Tuesday in the capital, Abuja. That was in line with projections of eight of the 17 economists surveyed by Bloomberg. One predicted a 100 basis point cut, and the rest said policy would be tightened by…