The Monetary Policy Committee (CPM) of the Central Bank of Congo (BCC) met under the chairmanship of Governor MALANGU KABEDI MBUYI to examine the macroeconomic situation of the country and the world economy. In a context of pressure on the foreign exchange market and that of goods and services, the CPM took important decisions to maintain economic stability.
The CPM noted that the monetary and fiscal policy measures put in place helped to reduce pressure on the exchange rate and inflation. Indeed, the exchange rate stabilized at 2,423 Congolese francs per US dollar on the interbank market, with a slight appreciation compared to July. Additionally, the monthly inflation rate fell significantly from 5.8% in July to 0.9% in August.
Despite these improvements, the CPM recognizes persistent inflationary risks and uncertainties related to internal and external shocks affecting the country’s economy. Therefore, it decided to keep the levels of the BCC key rate and the mandatory reserve coefficients unchanged. This decision aims to support the stability of the economy and reduce pressures on the foreign exchange and goods and services markets.
The CPM also highlights the importance of strengthening complementarity between monetary and fiscal policies to ensure an orderly reduction of these pressures. It stands ready to tighten monetary policy if necessary, depending on the evolution of economic indicators.
This decision by the PMO reflects the BCC’s commitment to maintaining economic stability and ensuring sustainable growth. It also demonstrates the desire to promote an environment conducive to investment and economic development.
In conclusion, the maintenance of the levels of the key rate of the BCC and the coefficients of the compulsory reserve by the Monetary Policy Committee underlines the importance given to economic stability and the prudent management of pressures on the financial markets. The pursuit of coordinated monetary and fiscal policy measures will make it possible to consolidate the progress made and promote sustained economic growth.