Razia Khan News
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Kenya’s central bank may resume cutting interest rates to support the economy following peaceful elections two months ago.
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Zambia, Africa’s biggest copper- producing nation, has room to borrow another $1 billion on international markets while keeping debt levels in check, a Finance Ministry official said.
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Kenya should tighten monetary policy in order to stem the shilling’s decline to the weakest on record and curb inflation that may quicken to 22 percent “later this year,” according to Standard Chartered Bank Plc.
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The peaceful election of Uhuru Kenyatta as Kenya’s president boosted the shilling, stocks and bonds as investors shrugged off his impending trial at the International Criminal Court and a legal challenge to his win.
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Kenya’s central bank will probably keep its benchmark interest rate unchanged for the first time since July as a dispute over presidential election results clouds the outlook for the economy.
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Ghana will narrow its budget deficit this year by reducing fuel subsidies and earning more taxes from oil companies as crude production in the West African nation increases, Finance Minister Seth Terkper said.
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South African Finance Minister Pravin Gordhan may target wider fiscal deficits over the next three years that will test the government’s credibility in the face of credit rating downgrades and slowing growth.
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Razia Khan, an economist at Standard Chartered Plc, forecast that South Africa’s central bank will cut its benchmark interest rate by half a percentage point to 6 percent when it next meets on July 22. She had previously forecast that rates would be left unchanged.
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Ghana’s central bank left its benchmark interest rate unchanged for a third meeting as election-related spending added to pressure on inflation.
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Ghana’s central bank will allow the country’s currency, the cedi, to strengthen in the next year in order to slow inflation, according to Standard Chartered Plc.
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