Regulatory Alerts2019-05-03
Instruction No. 002-DOM/19 on the Policy Rates of the Central Bank of Madagascar
The Central Bank of Madagascar issued Instruction No. 002-DOM/19 to formally establish and maintain its key monetary policy rates effective 3 May 2019. The directive sets the one-day maturity policy rate at 0.90 percent while keeping the one-year maturity policy rate unchanged at 9.50 percent. This instruction simultaneously repeals all conflicting prior provisions, specifically Instruction No. 004-DOM/2017, to ensure regulatory consistency.
[LOGO] CENTRAL BANK OF MADAGASCAR
DIRECTORATE OF MONETARY OPERATIONS
Instruction No. 002-DOM/19 on the Policy Rates of the Central Bank of Madagascar
The Governor of the Central Bank of Madagascar,
Having regard to Law No. 2016-004 of 29 July 2016, supplemented by Law No. 2016-057 of 2 February 2017 establishing the Statutes of the Central Bank of Madagascar,
Having regard to Decree No. 2014-1684 of 29 October 2014 appointing the Governor of the Central Bank of Madagascar,
Having regard to Instruction No. 005-DOM/17 of 19 December 2017 on the implementation of the monetary policy instruments of the Central Bank of Madagascar,
Having regard to Instruction No. 001-DOM/19 of 03 MAY 2019 amending and supplementing certain provisions of Instruction No. 005-DOM/17 of 19 December 2017 on the implementation of the monetary policy instruments of the Central Bank of Madagascar,
DECIDES
Article 1: Pursuant to Article 14 of Instruction No. 005-DOM/17 of 19 December 2017 on the implementation of the monetary policy instruments of the BFM, as amended and supplemented by Instruction No. 001-DOM/19 of 03 MAY 2019, the policy rate for one-year maturity operations of the Central Bank of Madagascar is maintained at 9.50 percent.
Article 2:
The policy rate for one-day maturity operations of the Central Bank of Madagascar is set at 0.90 percent.
Article 3:
This Instruction shall enter into force as of 03 MAY 2019.
All provisions contrary to this Instruction are hereby repealed, in particular Instruction No. 004-DOM/2017 of 3 November 2017.
Antananarivo, 03 MAY 2019
[STAMP: CENTRAL BANK OF MADAGASCAR - ANTANANARIVO - DOM]
[SIGNATURE]
THE GOVERNOR ALAIN H. RASOLOFONDRAIBE
P.O. Box 550 Antananarivo (101) - Madagascar • Tel. (261) 20 22 217 51 / 20 22 234 65 • Fax (261) 20 22 345 32 Website: www.banque-centrale.mg • Email: banque-centrale@bfm.mg