13 African Countries With The Lowest Central Bank Interest Rates
Many countries in Africa have extremely high central bank interest rates compared to most of the world, but there are some who boast lower rates that compare favourably on a global scale.
Central banks decide on the country’s interest rate as part of monetary policy, effectively deciding the rate at which loans need to be repaid.
Lower interest rates allow the people of that country to be able to afford loans and pay them back at more favourable rates versus countries where the interest rates are much higher.
In comparison, the United States federal reserve has an interest rate of 1 percent, while the United Kingdom’s rate is currently set at 0.25 percent.
We take a look at 13 African countries with the lowest central bank interest rates.