Madagascar raises rates 90bp

The Central Bank of Madagascar
The Central Bank of Madagascar

The Central Bank of Madagascar (BFM) raised its key interest rates by 90 basis points on August 2. The BFM raised its deposit facility rate to 6.9%, and the marginal lending facility rate to 8.9%.

The decision marks the second time this year the central bank has raised the marginal lending facility rate, after an 80bp increase in May. The BFM raised the lower deposit rate in February and May. The Malagasy central bank sets rates on a quarterly basis.

In its economic outlook, the central bank’s

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