27-July-2024
Economy News
 
Inflation in Key African Economies Unlikely to Slow to Targets Anytime Soon - Reuters Poll
26-Jul-2024

Inflation in key sub-Saharan African economies is unlikely to slow to targets even after recent aggressive interest rate hikes as central banks look to reverse those increases, a Reuters poll found. Economies in the region have struggled to mirror the disinflation trend in some parts of the world this year due to weak currencies and high food prices, despite 450 basis points (bps) in rate hikes from Zambia to 1,275 bps in Nigeria over the past two years. The median forecast in the July 17-24 poll in key African economies including Angola, Ghana and Nigeria showed inflation was unlikely to return to central banks' target bands anytime soon.

News Source:- https://money.usnews.com/investing/news/articles/2024-07-25/inflation-in-key-african-economies-unlikely-to-slow-to-targets-anytime-soon-reuters-poll