The Bank of Central African States (BEAC) announced December 1 that its monetary policy committee had raised interest rates by 25 basis points. The MPC made the decision at an “extraordinary” meeting on November 25. The move brings the policy rate to 3.5%.
The central bank has kept the policy rate stable at 3.25% since March 2020. It last raised interest rates in October 2018.
In a brief press release, the MPC said its move was motivated by concerns about the foreign exchange reserves
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