Monetary Policy Rate

Malawi Central Bank Policy Interest Rate at 25% in February

LILONGWE, Malawi, Capital Markets in Africa — Reserve Bank of Malawi Monetary Policy Committee (MPC) met on 4th February 2015 and decided to maintain the Policy Rate at 25 percent and Liquidity Reserve Requirement (LRR) at 15.5 percent, according to statement on the central bank website. The Bank estimated the country real GDP growth at 6.3 percent for 2014, largely driven by the agricultural sector. For 2015, economic growth was earlier projected at 5.8 percent,…

South Africa’s Reserve Bank hikes repo rate by 50 basis points

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Johannesburg, South Africa, Capital Markets in Africa —- The South Africa Reserve Bank’s Monetary Policy Committee (MPC) raised the repo rate to 6.75% from 6.25%. This takes the cumulative increases to 1.75 percentage points since the MPC started tightening policy in January 2014. Governor Lesetja Kganyago stated that, although the impact of the weaker exchange rate on inflation had remained muted in recent years, renewed rand weakness and the likelihood of higher food inflation had…

Central Bank of Kenya Retains CBR at 11.5% and KBRR at 9.87%

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Nairobi, Kenya, Capital Market in Africa — The Central Bank of Kenya (CBK) Monetary Policy Committee (MPC) met on Wednesday 20 January 2016 to review market development and the outcome of its previous monetary policy decision. The MPC decided to keep the Central Bank Rate (CBR) at 11.5 percent for the fifth time in a row. The rate has been retained since early July. It was first raised in May 2015 to 10 per cent,…

Morocco’s central bank keeps benchmark interest rate unchanged at 2.50%

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Casablanca, Morocco, Capital Markets in Africa — Bank Al-Maghrib decided to maintains the key Bank Rate at 2.5 percent at the Board of Bank Al-Maghrib last quarterly meeting of the year held on Tuesday, December 22, 2015, according to statement released by the bank. “Taking into account the inflation projection that is consistent with the objective of price stability and the uncertainties surrounding national but also international economic outlook, the board decided to maintain the key…

Bank of Uganda maintains benchmark rate at 17 percent

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KAMPALA, Uganda, Capital Markets in Africa — Bank of Uganda kept the Central Bank Rate (CBR) at 17 percent on Wednesday, saying hikes of 6 percentage points since April had helped slow a rise in core inflation, according to the Monetary Policy Committee (MPC) Statement for December 2015 issued to the press by Professor Emmanuel Tumusiime-Mutebile, Governor Bank of Uganda. The MPC believe that the decision to keep the CBR unchanged is consistent with stabilising core inflation…

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…

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…

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