Friday, March 4, 2011

West Africa Central Bank Holds Rate at 4.25%

The Central Bank of West African States maintained its marginal lending facility rate at 4.25%, the minimum open market rate at 3.25% and the bank reserves requirement at 7.00%. The move was driven by unrest and instability in the region's largest economy, Cote d'Ivoire (Ivory Coast). The West African States (Benin, Burkina Faso, Cote d'Ivoire, Guinea Bissau, Mali, Niger, Senegal, Togo) saw their inflation rate rise to 3.9% in December 2010 from 2.6% in September.


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