Africa in Focus: What Central Bankers Will Discuss in the Next Two Weeks

The video discusses the upcoming rate decisions of major African countries, including South Africa, Nigeria, and Kenya. South Africa is expected to maintain its current rate due to low inflation, while Nigeria faces price pressures from border closures. Kenya recently repealed a law affecting monetary policy and is likely to hold its rate steady. The video also covers the challenges of the CFA franc reform in West Africa, where plans for a single monetary unit face opposition from countries like Nigeria and Ghana.

What is the expected decision of the South African Reserve Bank regarding its key interest rate?

• Hold the rate steady

• Decrease the rate

• Abolish the rate

• Increase the rate

Why is Nigeria expected to hold its key rate steady?

• Due to high inflation rates

• To encourage foreign investment

• Because of price pressures from border closures

• To align with South Africa's policy

What significant change did Kenya make to its monetary policy in November?

• Increased interest rates by 50 basis points

• Pegged its currency to the US dollar

• Cut interest rates by 50 basis points

• Introduced a new currency

What was the original target year for the establishment of a single monetary unit by the ECOWAS regional bloc?

• 2018

• 2025

• 2020

• 2022

Which countries are hesitant about the fixed exchange rate plan for the new ECOWAS currency?

• South Africa and Kenya

• Nigeria and Ghana

• Senegal and Ivory Coast

• Mali and Burkina Faso