CNBC Africa·1 min read·medium
Ethiopia central bank raises policy rate, cites oil price shock
R
Reuters
✦AI Summary
Ethiopia's central bank has increased its main interest rate to 16% in response to inflationary pressures caused by rising global oil prices. This is the first policy shift for the bank since 2024.
NAIROBI, July 13 (Reuters) – Ethiopia’s central bank raised its main interest rate by one percentage point to 16%on Monday, in its first shift since 2024, citing renewed inflationary pressures from the global oil price shock.
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