African central banks set to lift rates to battle inflation and avoid sell-off of assets

The biggest economies will use different approaches to keep prices in check and manage contagion from the collapse of Silicon Valley Bank and the crisis at Credit Suisse Group

Central banks in Africa’s biggest economies are poised to raise interest rates in March to contain sticky inflation and deter a sell-off in their assets exacerbated by the collapse of US lender Silicon Valley Bank and stress at Credit Suisse Group.

Nigeria, SA, Egypt, Morocco and Kenya are projected to raise borrowing costs in the next two weeks. Monetary authorities in countries such as Ghana and Angola, where inflation is on a downswing, are predicted to hold. Six smaller African economies will stake out different approaches to bring prices under control and deal with the contagion caused by the global banking crisis. ..

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BDliveSA /  🏆 12. in ZA

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

THE FINANCE GHOST: The Lehman Bros of Silicon ValleyThe implosion of SVB is a cautionary tale to all other lenders on how not to manage interest rate risk
Read more »

Reserve Bank expected to hike rates again this monthThe South African Reserve Bank is expected to hike interest rates by the end of March.
Read more »

Careers at African Union : Join us to build The Africa We Want🚨🚨WE ARE HIRING‼️ The _AfricanUnion offers you the opportunity to pursue a career in a rewarding and challenging work environment with great learning and development possibilities. Want to know more? check out the AUCareers website
Read more »

Nanette, Lojay, Pawzz…10 African acts to look out for in 2023Hanna, Pawzz, Lojaymusic...ShingaiDarangwa takes a look at some of the talented African artists that are primed to carry the mantle and take the world by storm in 2023.
Read more »

ROB ROSE: South African crime ‘the worst in Africa’The time for urgent action is now, MTN CEO Ralph Mupita insists, adding that the country is staring over the edge of a cliff, writes robrose_za.
Read more »

South African courts don’t always follow the rulesA recent Labour Court case showed that rules set out by the Labour Relations Act do not always need to be followed.
Read more »