Six African Central Banks Cut Interest Rates This Week

(Bloomberg) -- More African central banks joined the global rate-cutting trend this week, with Guinea, South Sudan, Rwanda and Botswana easing for the first time in 2020. Zimbabwe reduced borrowing costs for the second time this year and Kenya for the third time, taking its key interest rate to the lowest since September 2011 to help its economy weather the coronavirus. The Democratic Republic of Congo held rates as a weakening currency has been pushing up inflation.

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