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Sunday, 20 November 2016

CBE holds interest rates at last Thursday’s MPC meeting

The CBE’s Monetary Policy Committee left interest rates unchanged at its meeting on Thursday, according to a statement from the CBE, saying “at this juncture and given the balance of risks, the MPC judges that the key CBE rates are currently appropriate.” The deposit rate stood at 14.75% while the lending rate was unchanged at 15.75%. The CBE’s main operations rate and discount rate stands at 15.25%. The story has gotten some international ink in the Financial Times and Reuters. This comes as the monthly headline inflation rate for October rose by 1.7% from 1.25% in September, reports a CBE statement from earlier this month. Annual headline inflation for the month decreased to 13.56% in October from 14.09% in September. Monthly core inflation grew by 2.81% in October from 1.39% in September, while the annual core rate increased to 15.72% from 13.93% in September.

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