Regulatory Alerts2008-11-01
National Bank of Ethiopia Annual Report 2007-2008
The National Bank of Ethiopia issued its 2007/2008 Annual Report, which requires continued monetary tightening to sustain 11.6 percent real GDP growth and combat a 25.3 percent headline inflation rate. The central bank implemented critical policy adjustments, including raising reserve and liquidity requirements to 15 and 25 percent respectively, while increasing minimum interest rates on savings and time deposits to 4 percent. Looking ahead, the report projects an 11.2 percent economic expansion for 2008/2009, driven by a resilient financial sector, widening foreign direct investment, and coordinated fiscal-monetary strategies targeting macroeconomic stability and poverty reduction.
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