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Inflation targeting: considerations for central banks in Africa
Published 29 September 2025
As elsewhere in the world, countries in Africa have faced a sequence of large inflationary shocks in recent years.
Government debts, which were already on an upward trend, generally increased further, adding to the monetary policy challenge.
Against this challenging background of some countries in Africa have been considering – sometimes following IMF prompting – the adoption of a formal inflation targeting regime either to help get the inflation rate back down, or to maintain inflation at low levels.
This raises a number of questions about existing policy frameworks and the desirability and pressures for change.
Inflation targeting: considerations for central banks in Africa
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