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Banks: BCEAO's main policy rates remain unchanged

12/06/2023
Source : ORISHAS FINANCE
Categories: Sectors

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The key rate at which the Central Bank of West African States (BCEAO) lends its resources to banks at 3.00% is maintained by its Monetary Policy Committee (Cpm).

The decision to maintain the BCEAO's key rate comes after the hikes in key rates that began in June 2022, with a view to the gradual easing of inflationary pressures in a context of sustained economic growth in the Union. This decision was taken at the end of the BCEAO meeting organized on 7 June 2023 at the headquarters of the issuing institute in Dakar. According to the governor of the bank, inflation rose from 8.4% in September 2022 to 5.7% in March 2023 and 4.6% in

April 2023.
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