West African central bank raises rates as crises continue
Authorities cite “rising uncertainties at regional level” and reduced aid after wave of coups
The West African regional central bank raised its policy rates by 25 basis points at its September 6 meeting, bringing its main lending rate to 3.25%.
The Central Bank of West African States (BCEAO) has raised its key interest rates at five of its last six quarterly meetings. In total, it has hiked by 125 basis points since June 2022.
The new rates take effect in the eight countries of the West African Economic and Monetary Union from September 16. In its August 2023 economic note, the central
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