More African nations respond to inflationary effects of Iran war
Mauritius and Rwanda raise rates, though Nigeria, Ghana and Egypt opt to hold
A range of African central banks announced rates decisions this week as monetary authorities around the world continue to assess the inflationary effects of the conflict in the Middle East. Nigeria, Ghana and Egypt held rates, though inflationary concerns prompted Mauritius and Rwanda to tighten monetary policy.
The Central Bank of Nigeria (CBN) held rates at 26.5% on May 20. In a communiqué issued by the monetary policy committee (MPC), CBN governor Olayemi Cardoso noted that spillovers from the
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