Congo hikes rates to 55% as currency plunges
The hike follows a 12 basis-point increase on 22 December and is coupled with a rise in the cash reserve ratio from 5% to 7%.
The CFA franc has fallen by 19.8% against the dollar since the end of September 2008. A dollar was worth CFAfr 703.6 as of last Friday.
Jean-Claude Masangu Mulongo, the governor of the central bank, on Monday highlighted three
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