Interest Rates |

Why Ghana Central Bank May Cut Key Interest Rate

ACCRA (Capital Markets in Africa) – Ghana’s central bank may cut its key interest rate for a third straight meeting with inflation at its slowest in four years and a strengthening currency. Consumer-price growth has tumbled 7.1 percentage points since reaching an all-time high of 19.2 percent in March last year. While the cedi weakened to a record low against the dollar on March 2, it has strengthened 8.2 percent since then. The median of seven economists’ estimates…

Kenyan Central Bank Says Lenders Face New Era of Smaller Profits

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenyan lenders must adjust their business models to adapt to a new era of lower profits as interest-rate caps curb investor returns, Central Bank of Kenya Governor Patrick Njoroge said. Return on equity in the Kenyan banking industry declined to 13.6 percent in March from 18.2 percent in June, Njoroge told reporters Tuesday in the capital, Nairobi. For the country’s biggest lenders, the drop was more severe, slumping to 23 percent…

Egypt Central Bank keeps key interest rates unchanged at MPC meeting

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt’s central bank kept its key interest rates unchanged on Thursday in a meeting of its Monetary Policy Committee, it said in a statement, two weeks after it surprised markets with a 3 percent hike in its key rates. The bank kept its overnight deposit rate at 14.75 percent and its overnight lending rate at 15.75 percent, it said in a statement, meeting expectations of all 15 respondents in a…

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