Central Banks
Inflation Headed Wrong Way for African Rate-Cut Prospects
- Inflation estimates rise for seven of nine countries surveyed
- Survey of economists conducted Nov. 10-16 by Bloomberg News
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Sub-Saharan Africa’s central banks unlike their emerging market peers in Latin America will likely have to wait a little longer to reduce interest rates, with economists raising their inflation forecasts for many of the region’s key economies in the coming months.
Countries including Ghana, Nigeria, Ethiopia and Zambia will see higher inflation than previously forecast, according to a Bloomberg News survey. The forecasts for South Africa and Ivory Coast were unchanged.