Africa's Central Banks Keep Rates High to Fight Inflation and Currency Weakness
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Most major African economies will keep interest rates higher for longer compared to advanced economies as currency weakness and high inflation persist.
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Nigeria, Angola, and Egypt are expected to raise rates soon to curb inflation. South Africa, Morocco, Kenya, and Ghana will likely hold rates steady.
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Inflation remains high in many African countries due to currency depreciation and the removal of subsidies. Central banks are tightening policy to anchor inflation expectations.
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Ghana and Nigeria are in talks with the IMF to unlock aid, which could support their currencies and reduce the need for rate hikes.
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Egypt may raise rates after elections to allow further currency devaluation, a condition of its IMF deal.