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African central banks poised to hold interest rates amid economic uncertainties

EditorAmbhini Aishwarya
Published 15/09/2023, 05:42 pm

In the face of potential threats to their respective currencies and rising borrowing costs in more developed economies, central banks across Africa are expected to hold their current interest rates steady in the coming weeks. However, rate hikes remain a possibility, particularly in response to internal issues within their own borders.

South Africa, Egypt, Morocco, and Ghana are among the nations anticipated to keep their rates unchanged. These countries are grappling with economic uncertainties and challenges, making this period crucial for setting their near-future economic course.

Contrarily, Nigeria, Angola, and Kenya could potentially counteract currency depreciation by increasing their borrowing costs. The decisions made by these monetary authorities will be instrumental in navigating these challenging times and could significantly impact the economic trajectory of these African nations.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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