Ethiopia holds policy rate as inflation persists
Central bank vows to maintain tight stance until figure returns to single digits
Ethiopia’s central bank announced yesterday (June 30) that it was keeping its policy rate at 15% to tame inflation.
Headline inflation remained at 14.4% in May – unchanged from April, but still up on the 13.6% recorded in March.
The National Bank of Ethiopia said that although food inflation had eased since last year, non-food inflation remained sticky.
The central bank added that although the banking sector remained strong, some lenders were facing liquidity challenges owing to high loan-to
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