DR Congo slashes rates to 9% from 14%

kinshasa in the democratic republic of congo

The Central Bank of the Democratic Republic of the Congo (BCC) slashed its base interest rate 500 basis points from 14% to 9% on April 30.

The news came after reports from the BCC that inflation within the country had stabilised. After experiencing an inflation rate of 41.5% in 2017, inflation dropped to below 30% in 2018 and is expected to come down to around 8% in 2019, the IMF says in its latest World Economic Outlook.

Year-on-year inflation is currently around 6%, according to figures

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