West African central bank raises rates as crises continue

Authorities cite “rising uncertainties at regional level” and reduced aid after wave of coups

The Central Bank of West African States (BCEAO) in Dakar, Senegal

The West African regional central bank raised its policy rates by 25 basis points at its September 6 meeting, bringing its main lending rate to 3.25%.

The Central Bank of West African States (BCEAO) has raised its key interest rates at five of its last six quarterly meetings. In total, it has hiked by 125 basis points since June 2022.

The new rates take effect in the eight countries of the West African Economic and Monetary Union from September 16. In its August 2023 economic note, the central

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account