Meeting, by videoconference, under the chairmanship of Tiémoko Meyliet Koné, Governor of the Central Bank, the Monetary Policy Committee (Cpm) of the Central Bank of West African States (Bceao) examines its monetary policy.

The Bceao maintains the current orientation of monetary policy unchanged. The minimum bidding interest rate for liquidity injection tender operations remains at 2.00% and the interest rate for the marginal lending window at 4.00%, levels in force since 24 June 2020. The reserve requirement coefficient applicable to banks in the Union remains unchanged at 3.0% since March 16, 2017.

The Committee noted a firming up of economic activity in the fourth quarter of 2021, with annual growth of 5.1%, after 5.8% in the previous quarter. For the year 2022, the forecasts count on economic growth of 6.1% for the Union. The Cpm however noted that these prospects still remain fragile and surrounded by downside risks, in connection with strong uncertainties relating to the evolution of the health crisis, the security environment in the Union, the orientation of the prices of the oil as well as the impact of geopolitical tensions in the world.