Regulatory Alerts2024-03-11
National Bank of Ethiopia Third Quarter Report 2023-24
The National Bank of Ethiopia issued its Third Quarter 2023/24 Quarterly Bulletin to monitor and report on the country's macroeconomic performance, highlighting a quarterly headline inflation decline to 4.8 percent and broad money supply growth of 17.2 percent driven by domestic credit expansion. The document details negative real interest rates across savings deposits, lending, and treasury bills despite nominal increases to 8.0 percent and 14.8 percent respectively, alongside a financial sector expansion that increased total bank branches to 12,160. External trade deficits and government finance metrics further illustrate the economy's moderate recovery, with reserve money stabilizing at Birr 461.7 billion and the money multiplier rising to 5.2 as commercial banks increasingly drive liquidity creation.