Africa-Press – Senegal. The Central Bank of West African States (BCEAO) said Thursday in Dakar that it had decided to increase its key rate by 0.25 points, the rate at which it lends its resources to commercial banks operating in its eight Member States, from 16 September.
« The main key rate at which the central bank lends its resources to banks will increase from 3% to 3.25% », announced the governor of the BCEAO, Jean-Claude Kassi Brou.
He chaired the third ordinary session of the year of the monetary policy committee of the banking institution.
« This increase in the key rate will serve to anticipate and contain the impact of risk factors on the macroeconomic outlook » of WAEMU, explained Mr. Brou.
“This decision comes in a context of growing uncertainties at the regional level, persistent inflationary pressures, higher financial conditions from international markets and lower mobilization of external resources,” he said.
The BCEAO Governor also reported that economic activity in WAEMU maintained its “growth momentum” during the second quarter of the year.
The credits granted by banks to the economy of the member countries of the Union « evolved at a sustained pace », with an increase of 16.2% on an annual basis, at the end of last July, after an increase of 16 6% at the end of March, according to Jean-Claude Kassi Brou.
“Over the coming months, the Monetary Policy Committee will take the appropriate measures, if necessary, to ensure monetary stability in the area,” announced Mr. Brou, chairman of this central bank body.
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