The Central Bank of West African States (BCEAO) held its main policy rate at 3.00% and marginal lending rate at 5.00%, citing the inflation and growth outlook, external conditions and short-term risks. It also maintained the reserve requirement ratio at 3.00%. Union inflation rose to 0.4% in the second quarter and is projected to average 1.0% in 2026, with upward risks linked mainly to uncertainty surrounding the Middle East crisis, while economic growth is forecast at 6.1%. Private-sector bank credit increased by 6.6% at end-June, indicating adequate economic financing. The external position strengthened on higher export values for gold, cotton, cocoa and petroleum products. Global activity remained resilient despite persistent disruption from the Middle East conflict. The BCEAO said it will closely monitor price risks and monetary conditions and take appropriate measures if needed to preserve monetary and financial stability.
2026-09-09Central Bank of West African States
Central Bank of West African States Holds Main Policy Rate at 3.00%
The Central Bank of West African States (BCEAO) held its main policy rate at 3.00%, marginal lending rate at 5.00% and reserve requirement ratio at 3.00%. Inflation is projected to average 1.0% in 2026, with growth forecast at 6.1%, while the BCEAO will monitor risks from the Middle East crisis and monetary conditions.