BCEAO raises rates 25 basis points amid inflation worries
Move is sixth hike in seven quarters, taking policy rate to 3.5%
The Central Bank of West African States (BCEAO) has continued its gradual tightening of monetary policy, raising its policy rate by 25 basis points to 3.5% on December 6.
The BCEAO has raised rates at six of its last seven quarterly monetary policy meetings, each time by 25bp.
In its statement, the BCEAO’s monetary policy committee (MPC) says it responded to “a context where the risks of a return of inflationary tensions are on the rise”. The statement also referred to “tensions on the Union’s
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