West Africa central bank orders second rate rise of 2022

The BCEAO headquarters in Dakar
The BCEAO headquarters in Dakar
Photo: Ji-Elle/Wikimedia Commons

The Central Bank of West African States (BCEAO) announced a 25 basis point increase in its policy rates on September 14.

The move brings the open market operations rate to 2.5% and the repo rate to 4.5%. It was only the second time the BCEAO monetary policy committee has raised rates since 2016, following a 25bp hike in June.

In its press release, the MPC said the region’s inflation had continued to climb, rising to 8.1% year-on-year in July. The central bank’s inflation target is 2%, with a

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