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Ethiopian Central Bank Increases Deposit Rate to 5%, ENA Says

The National Bank of Ethiopia increased the deposit rate to 5 percent from 4 percent, the state-run Ethiopian News Agency reported, without giving details.

The new rate became effective from Dec. 2, central bank spokesman Bekalu Ayalew said by phone today.

To contact the reporter on this story: William Davison in Addis Ababa via Johannesburg at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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