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Monetary Policy Committee

Kenya Central Bank Governor Patrick Njoroge arrives for a news conference at the Central Bank of Kenya (CBK) headquarters in Nairobi, Kenya July 25, 2019. REUTERS-Stringer

Kenya central bank to hold its rate-setting meeting on July 29

The Kenyan central bank’s Monetary Policy Committee will hold its next rate-setting meeting on July 29, the bank said on Tuesday.
Nigeria Naira

Forex constraint devalues naira to N380 per dollar

Shortage of forex in the economy caused the naira to fall below the official rate of by 3.5 per cent to N380/$1 from N360/$1 according to the Central Bank of Nigeria.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

MPC slashes interest rate to 12.5 percent

The Monetary Policy Committee (MPC) of Central Bank of Nigeria has reduced Monetary Policy Rate (MPR), to 12.5 per cent.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank reduces lending rate to 12.5%

The Monetary Policy Committee of the Central Bank of Nigeria on Thursday reduced the Monetary Policy Rate to 12.5 per cent.
Kenya Central Bank Governor Patrick Njoroge arrives for a news conference at the Central Bank of Kenya (CBK) headquarters in Nairobi, Kenya July 25, 2019. REUTERS-Stringer

Kenya central bank governor says small businesses need urgent help

Kenya’s small and medium businesses need urgent help to survive the economic slowdown caused by the novel coronavirus, and many are at risk of shutting down by the end of June, the head of the central bank said on Thursday.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank reschedules MPC meeting over holidays

The Central Bank of Nigeria (CBN) has rescheduled it’s Monetary Policy Committee (MPC) meeting from Monday and Tuesday May 25 and 26 to Thursday, May 28.
Kenya Central Bank Governor Patrick Njoroge arrives for a news conference at the Central Bank of Kenya (CBK) headquarters in Nairobi, Kenya July 25, 2019. REUTERS-Stringer

Kenya central bank to hold rate-setting meeting on May 27

At its April meeting, the bank cut its benchmark lending rate to 7.0% from 7.25%, saying action to cushion the impact of the coronavirus was having an effect, but the bank needed to
The Kenyan central bank’s Monetary Policy Committee will hold its next meeting on April 29, it said on Tuesday, changing it from the initial scheduled date of April 27.

Kenya’s central bank cuts benchmark lending rate again

Kenya’s central bank cut its benchmark lending rate again on Wednesday, to 7.0% from 7.25%, saying measures to tackle the impact of the coronavirus were having an effect but it needed to do more due to the adverse economic outlook.
The Kenyan central bank’s Monetary Policy Committee will hold its next meeting on April 29, it said on Tuesday, changing it from the initial scheduled date of April 27.

Kenya central bank shifts its policy meeting to April 29

The Kenyan central bank’s Monetary Policy Committee will hold its next meeting on April 29, it said on Tuesday, changing it from the initial scheduled date of April 27.
The Monetary Policy Committee (MPC) of the South African Reserve Bank decided to cut the repo rate by 100 basis points. This takes the repo rate to 4.25 per cent per annum, the bank said in a statement.

South African central bank delivers surprise rate cut and signals more to come

South Africa’s central bank cut lending rates to record lows on Tuesday following an unscheduled meeting of its policy committee in response to the economic turmoil wrought by the coronavirus outbreak.
The Monetary Policy Committee (MPC) of the South African Reserve Bank decided to cut the repo rate by 100 basis points. This takes the repo rate to 4.25 per cent per annum, the bank said in a statement.

South Africa further cuts interest rate amid virus pandemic

South Africa's central bank Tuesday slashed its main interest rate by a full percentage point, the second such cut in less than a month, as the economic impact of the coronavirus pandemic deepens.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE returns to negative posture, indices down by 0.05 per cent

Trading on the Nigerian equity market returned to negative territory on Wednesday with 0.05 per cent dip or losses in MTN Nigeria and six other stocks.G
Nigeria has overtaken South Africa as the continent’s largest economy, a report by Bloomberg has shown.

Nigeria overtakes South Africa as Africa’s largest economy

Nigeria’s re-emergence as Africa’s biggest economy followed South Africa’s slump into its second recession in two years, as severe rolling power blackouts frustrate President Cyril Ramaphosa’s attempt to revive growth.
The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.

IMF reduces Nigeria’s 2020 growth projection to two percent

The International Monetary Fund (IMF) has revised downward its 2020 Gross Domestic Product (GDP) forecast for Nigeria to two per cent, from the 2.5 per cent it had predicted earlier.

Central bank raises banks’ cash reserves ratio to 27.5 percent

The Monetary Policy Committee of the Central Bank of Nigeria on Friday altered the Cash Reserves Ratio from 22.5 per cent to 27.5 per cent.
Nigerian Stock Exchange NSE

NSE: Trading defies inflation figure, index up 0.90 per cent

The Nigerian Stock Exchange (NSE) All-Share Index on Friday rose by 0.90 per cent in spite of rise in inflation rate recorded in December 2019.
Dangote Group founder Aliko Dangote

Africa’s richest man to diversify investments

Top billionaires across the world diversify their investments to countries with strong and rising currencies to avoid asset erosion.
FILE PHOTO- Central Bank of Egypt's headquarters seen in downtown Cairo, Egypt, September 7, 2017. REUTERS-Mohamed Abd El Ghany

Egypt’s central bank postpones policy meeting

Egypt’s central bank said on Thurday that its monetary policy meeting on interest rates had been postponed to Jan. 16 from this week.

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