#Ethiopia: The National Bank of Ethiopia announces a new monetary policy framework The National Bank of Ethiopia (#NBE) has announced a new monetary policy framework aimed at fostering price stability. In a public statement made yesterday by Mamo Mihretu, the central bank outlined key elements of the policy. Among the measures introduced is an interest rate set at 15 percent and the introduction of bi-weekly auctions. Additionally, the National Bank of Ethiopia has completed preparations to esta
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ANALYSIS: The National Bank of Ethiopia recently published its 2023-2026 strategic plan. Some key facts: Timeframe: The plan outlines reforms over the next 3 years (2023-2026). Monetary policy: NBE aims to transition to a market-based monetary policy framework from its current approach. Inflation target: The central bank targets reducing inflation from the current 30% to under 10% by 2025 and eight percent by 2026. Reserves: NBE plans to grow foreign exchange reserves from under 1 month to over
ANALYSIS: The National Bank of Ethiopia recently published its 202…
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#Ethiopia shifts to market-based exchange rate with immediate currency devaluation The National Bank of Ethiopia (#NBE) announced today a major revision of the country's foreign exchange regime, shifting to a market-based exchange rate effective immediately. Following the announcement, the Commercial Bank of Ethiopia released a new exchange rate, devaluing the birr by 30 percent against the dollar. In April, Reuters reported that Ethiopia might need to consider a significant currency devaluation
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The leading bank in Ethiopia, established in 1942. Pioneer to introduce modern banking to the country with more than 1842 branches and more than 39M accounts across the country. | Commercial Bank of Ethiopia
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The National Bank of Ethiopia has taken a bold step to tackle soaring inflation rates. To combat this challenge, the #NBE is implementing measures to limit commercial banks' lending activities ⬇️ https://african.business/2023/08/finance-services/ethiopian-central-bank-limits-commercial-lending | African Business
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