African central bank challenge at a time of high inflation, low growth
These issues put mandate of African countries’ central banks under a microscope as most governments question inflation-targeting mandate of their monetary policies
05 December 2022 - 05:08
African countries’ central banks have over the past year been forced to front-load interest rates in an attempt to curb rising inflation and protect weakening exchange rates, while having to deal with deteriorating economic growth prospects.
These issues have placed the mandate of African states’ central banks under a microscope, with most governments questioning the inflation-targeting mandate of their monetary policies — decisions that led to excessive borrowing costs, while inflation continues to remain above the upper band of the inflation bracket...
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