BEAC withdraws CFA63bn in a week to curb CEMAC inflation

The Bank of Central African States (BEAC) has successfully withdrawn a total of CFA63 billion from the banking system in two operations. This move is part of the central bank’s efforts to combat monetary inflation, which accounts for 20% of the inflation in the region. The first withdrawal operation took place on March 28, when the central bank targeted CFA50 billion through the issuance of 14-day BEAC bonds at a 2.5% interest rate. However, it only managed to attract an offer of CFA15 billion, resulting in a relatively low demand coverage rate of just over 30%. On April 2, BEAC…