Economics
Here’s How African Central Banks Are Tackling Coronavirus’s Impact
- Region’s policy makers taking steps to cushion their economies
- Lockdowns have halted economic output in many countries
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African central banks have joined the global wave of emergency meetings and unusual measures to cushion their economies against the impact of the coronavirus pandemic.
While many of the central banks in the region target inflation and have to prop up volatile currencies, they’ve also used non-traditional policy tools in addition to aggressively cutting interest rates to salvage economic growth and encourage more lending to consumers and businesses.