Sticky Inflation to Spur Interest-Rate Hikes in Seven Key African Economies

Central banks in seven of 11 African nations will likely raise interest rates at their final monetary policy committee meetings of the year to tackle stubbornly high inflation and support their currencies.

Nigeria, South Africa and Ghana are among those projected to raise borrowing costs over the next two weeks. Mozambique and Botswana are set to stand pat as inflation is forecast to have peaked and Angola will probably remain an outlier at a time of global monetary tightening and cut borrowing costs for a second time this year.