Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

African central banks poised to hold interest rates amid economic uncertainties

EditorAmbhini Aishwarya
Published 15/09/2023, 05:42 pm
USD/ZAR
-
GBP/ZAR
-
EUR/ZAR
-
USD/EGP
-

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.