Ethiopia’s Central Bank Scraps Credit Caps and Raises Key Rate to 16%

Africa · Eastern Key Facts —Credit cap removed. The National Bank of Ethiopia fully lifted the economy-wide annual credit growth ceiling on commercial banks. —Benchmark rate hiked. The National Bank Rate was raised from 15% to 16%, the first change since its introduction in July 2024. —FX surrender eased. Mandatory foreign-exchange surrender requirements for banks…