KINSHASA, June 1 (Xinhua) -- The central bank of the Democratic Republic of the Congo (BCC) decided to maintain its policy rate at 25 percent at a meeting of its Committee on Monetary Policy (CPM) held on Friday, according to a statement released on Saturday.
This decision was made against a backdrop where the country's economic outlook for 2024 remains positive, with a growth projection close to 5 percent, said the statement, noting "strong growth of the Congolese economy in 2023 (8.4 percent), sustained by the continued dynamism of the mining sector and vigorous activities in the non-extractive sector."
However, inflation was higher than expected, reaching 23.8 percent year-on-year in December 2023, due to both imported inflation and budgetary tensions linked to the continuation of conflicts in the eastern part of the country, which led to the depreciation of the official currency, the Congolese franc, according to the statement.
The BCC's policy rate has remained unchanged at 25 percent since Aug. 8, 2023. The next meeting of the CPM will be held on Aug. 8 this year.
