Modest rate hikes seen for Nigeria, Kenya; Ghana to hold - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Nigeria and Kenya are likely to hike interest rates by a modest 50 basis points in the coming days after months of heavy lifting from other African central banks to try to calm rampant inflation, a Reuters poll found, while Ghana will hold fire.

Nigerian naira notes are seen in this picture illustration March 15, 2016.

“Tightening global financial conditions and continued dollar appreciation will set the tone for upcoming sub-Saharan Africa central bank decisions,” said Razia Khan at Standard Chartered, who expects action in both Nigeria and Kenya. But again, the outcome was a close call with the breakdown of 11 analysts showing five predicted no change, four saw a hike of 50 bps and two expected a 100 bps increase.

The Bank of Ghana has hiked rates by 850 bps in the past year but that has not helped stop a slide in its currency which has been one of the worst performing emerging market currencies, having lost over half its value this year.

 

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Why we not being honest? They keep things expensive for africans, so that they can Buy the resources cheap for themselves, if they are not just taking them for free, as usual 💁🏽‍♂️

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