Africa’s central banks diverge as Zambia delivers major rate cut
Mozambique holds while Sierra Leone delivers second consecutive hike
Three central banks in Africa took different interest rate decisions on September 30. The Bank of Zambia delivered a 250 basis point cut, surprising some market observers. Climate shocks and spillover effects from the conflict in the Middle East prompted caution from the Bank of Mozambique, which kept its key policy rate unchanged, while rising inflation led to another 25 basis point hike from the Bank of Sierra Leone.
Zambia: surprise easingThe Bank of Zambia reduced its key policy rate from 13
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