Ethiopia launches new monetary policy framework
Move is part of effort to unlock much-needed funding from IMF
The Ethiopian central bank has launched a new monetary policy framework, as the country tries to meet conditions set by the International Monetary Fund (IMF) to secure a new funding package.
The National Bank of Ethiopia (NBE) introduced an interest rate-based regime as part of a move to target “low and stable inflation”. The new policy rate will be known as the National Bank Rate (NBR), and has been set at 15%. It will be the main signal of the central bank’s monetary policy stance.
Under the new
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