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10 months ago
Congo cbank hikes interest rate in bid to contain inflation
September 29, 2016 / 1:42 PM / 10 months ago

Congo cbank hikes interest rate in bid to contain inflation

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KINSHASA, Sept 29 (Reuters) - Democratic Republic of Congo's central bank has raised the main interest rate from 2 to 7 percent in a bid to contain quickening inflation, the bank said on Thursday, as low commodity prices continue to batter the economy of Africa's top copper producer.

The bank will also intervene in the foreign exchange market on Friday to ease pressure on the central African nation's franc currency, spokesman Plante Kibadhi told Reuters. (Reporting by Aaron Ross; Editing by Joe Bavier)

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