The monetary policy committee of the Central Bank of Congo (BCC) reduced its policy rate by 200 basis points to 8.5% on June 17, marking the third time that the Democratic Republic of Congo’s central bank has cut rates this year.
The BCC raised interest rates by a sweeping 1,100bp, to 18.5%, in August 2020 after a spike in inflation. The IMF said that inflation had reached 15.7% year on year that August. The BCC’s governor, Deogratias Mutombo Mwana Nyembo, later gave a figure of 15.76%
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