Tikur Fikir Episode 4 | Kana TV Drama

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Tikur Fikir Episode 4 | Kana TV Drama.

The banks' annual loan growth ceiling was not raised in its entirety.

 

Instead of a full increase, which had been anticipated for September to address ongoing inflationary pressures and maintain the health of the financial sector, it has been decided to temporarily raise the limit from 18 percent to 24 percent.

 

The committee indicated that raising the banks' loan growth ceiling is believed to help reflect the National Bank's monetary policy stance and improve the structure of monetary policy.

 

The committee also noted that it will study the matter further in future meetings and present a decision proposal.

 

It was also decided that the National Bank's policy rate will remain at its current level of 15 percent.

 

The Monetary Policy Committee announced that the interest rates for the National Bank's standing deposit facility and standing lending facility will continue as they are. Furthermore, it was confirmed that the reserve requirement ratio that banks must maintain at the National Bank will also remain unchanged.

 

The Monetary Policy Committee stated that the National Bank will continue to use market-oriented monetary policy tools, either individually or in combination, as necessary to steer inflation towards the desired level.

 

Annual inflation has been declining consecutively, reaching 13.6 percent at the end of the Ethiopian month of Ñähase (August 2024).

 

The committee cited the tight monetary policy being implemented by the National Bank, improved agricultural productivity, and the administrative measures the government is taking to stabilize prices as major reasons for the decline in inflation.

 

Food inflation reached 12.7 percent at the end of Ñähase, showing a significant decrease compared to the 18.8 percent recorded in the same month last year.

 

In contrast, non-food inflation showed a moderate increase compared to last year, standing at 15.1 percent.

 

The statement explained that the recent adjustment to the foreign exchange rate has contributed to this to some extent. Similarly, the decline in the monthly inflation rate to 1.1 percent at the end of Ñähase indicates that the economic impact of inflation is easing.

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Tikur Fikir
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Tikur Fikir Episode 4 | Kana TV Drama, ጥቁር ፍቅር ክፍል 4
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