The Central Bank of West African States (BCEAO) has decided to keep its main lending rate unchanged at 3.5%.
This decision was announced in a statement released on Wednesday.
The announcement followed a Monetary Policy Committee meeting held in Dakar, Senegal.
The BCEAO indicated that the inflation rate for the region is expected to remain stable at 3.7%, the same as in 2023.
However, the bank acknowledged potential risks to this inflation outlook.
These risks include the security situation in certain member countries and adverse weather conditions affecting agricultural production.
Additionally, the bank cited rising energy and food prices as factors that could impact inflation.
The BCEAO serves eight countries in West Africa, namely Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
