Business news feedCongo central bank doubles rates to 14 pct to tackle inflation

Fri,24Nov2017

Posted on Saturday, 14 January 2017 12:12

Congo central bank doubles rates to 14 pct to tackle inflation

January 14, 2017, 2:12 pm

KINSHASA (Reuters) - The Democratic Repubic of Congo's central bank doubled its base interest rate to 14 percent, from 7 percent previously, the bank said on Saturday, an effort to contain inflation currently running in double digits. Inflation for December was 11.2 percent, well over the bank's target of 4.2 percent. Africa's leading copper producer has been battered by low commodity prices that have hit the Congolese franc.(Reporting by William Clowes; Writing by Tim Cocks; Editing by Angus MacSwan)



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