Monetary benchmark rate

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…

Bank of Mauritius cuts the Key Repo Rate by 25 basis points to 4.40 per cent

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Port Louis, Capital Markets in African — The Monetary Policy Committee (MPC) of the Bank of Mauritius (Bank) has unanimously decided to cut the Key Repo Rate by 25 basis points to 4.40 per cent per annum to boost domestic economic activity, at its meeting on Monday 9 November 2015. The Key Repo Rate had been kept at 4.65 percent since June 2013 when it was reduced by 25 basis points from 4.9 percent. See…

Kenya’s Monetary Policy Committe retains Policy Rate at 11.50 percent

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Nairobi, Kenya, Capital Market in Africa — At the end of the September 22nd 2015 Monetary Policy Committee (MPC) meeting, the MPC kept the policy rate (Central Bank Rate — CBR) at 11.5 percent, with intention to keep inflation in control which was trending towards the five percent target. The benchmark interest rate, was kept unchanged for the third time after it was raised in July by 150 basis points to current level. The MPC, also…

Bank of Ghana Surprisingly Increases Benchmark Interest Rate Against Analysts’ Expectation

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Accra, Ghana, Capital Markets in Africa — The Bank of Ghana (BOG) increased the policy rate by 1 percent to 25 percent, Governor Kofi Wampah told reporters in the capital, Accra after the 66th regular meeting of the Monetary Policy Committee of the Bank. In August, the BOG merged the policy rate and reverse repo rate at 24 percent. The policy rate was previously 22 percent. The Central Bank said at the time the adjustment didn’t…

Zambia maintains rate, tight liquidity to contain inflation

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Lusaka, Zambia (Capital Markets in Africa) — The Bank of Zambia (BoZ) opted to leave the benchmark interest rate unchanged at 12.5% this week. The BoZ has aggressively tightened policy this year by hiking the cash reserve requirement ratio for banks from 14% to 18%. However, it has not lifted the benchmark interest rate since November 2014. During 2014 the interest rate was hiked aggressively by 275 basis points. The BoZ noted that the kwacha…

CBN to hold rate at 13% say Economists surveyed by Capital Markets in Africa

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Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Monetary Policy Committee (MPC) will be meeting between 23rd and 24th July 2015 to review developments in the global and domestic economic environment since its last meeting held on 18th and 19th May, 2015 resolved to reatian the rates at 135 and harmonised both the private sector and public sector cash reserve requirements (CRR) at 31 per cent, with aim to inject some liquidity back into the banking system….

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