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BCEAO: Bank raises rates after the coup in Niger

08/09/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Le mercredi 7 septembre dernier, la Banque centrale d' Afrique de l' Ouest (BCEAO) a raised its key rate following a new military coup that shook the region and caused trade blockades between countries

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The BCEAO said in a statement that it had raised its policy rate by 25 basis points, to 3.25%, starting September 16, in a context of growing regional uncertainty and continuing inflationary pressures. For the bank, “the increase in key rates is therefore intended to anticipate and contain the impact of these risk factors on the Union's macroeconomic outlook”. The bank also indicated that over the coming months, the monetary policy committee will analyze the risks surrounding the outlook and, if necessary, take appropriate measures to ensure stability

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