Regulatory Alerts2024-12-01
National Bank of Ethiopia Quarterly Bulletin Second Quarter 2024/25
The National Bank of Ethiopia issued its Second Quarter 2024/25 Quarterly Bulletin to report on macroeconomic performance and implement a shift from aggregate targeting to an interest-rate based monetary policy framework. The central bank maintained the National Bank Rate at 15.0 percent, expanding broad money supply to Birr 2.8 trillion and lowering general inflation to 17.7 percent year-on-year despite a 5.4 percent quarterly increase. Commercial banks disbursed Birr 170.5 billion in new loans, the current account deficit narrowed to USD 864.4 million, and a newly adopted market-based exchange rate regime depreciated the Birr by 121.1 percent to support external sector stability.
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