On July 18, the South African Reserve Bank (SARB) and Central Bank of Egypt (Egypt) held rates at 8.25% and 27.25%, respectively. Ghana’s meeting is on July 23-26; we expect the bank to hold as it has since January 2024. Kenya’s meeting is in August, and we also expect the Central Bank of Kenya (CBK) to leave rates unchanged due to the recent political events and attendant decline in investment appetite.
These central banks aim to maintain their current interest rates to control inflation, attract capital, and defend their currencies.
This proactive piece focuses on the possible outcomes of Nigeria's highly anticipated Monetary Policy Committee (MPC) meeting. The Central Bank of Nigeria’s (CBN) committee will meet on July 22 and 23 to announce the decisions on interest rates and other monetary parameters for the next two months. At this July meeting, the CBN will have two options: hold or tighten
