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#Ethiopia: The National Bank of Ethiopia announces a new monetary policy framework The National Bank of Ethiopia (#NBE) has announced a new monetary policy framework aimed at fostering price stability. In a public statement made yesterday by Mamo Mihretu, the central bank outlined key elements of the policy. Among the measures introduced is an interest rate set at 15 percent and the introduction of bi-weekly auctions. Additionally, the National Bank of Ethiopia has completed preparations to esta
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ANALYSIS: The National Bank of Ethiopia recently published its 2023-2026 strategic plan. Some key facts: Timeframe: The plan outlines reforms over the next 3 years (2023-2026). Monetary policy: NBE aims to transition to a market-based monetary policy framework from its current approach. Inflation target: The central bank targets reducing inflation from the current 30% to under 10% by 2025 and eight percent by 2026. Reserves: NBE plans to grow foreign exchange reserves from under 1 month to over
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