Plunging currencies, El Niño to delay rate cuts in African economies

Mounting price pressures from the resurgence of the dollar, foreign-currency crunches and adverse weather conditions are set to lead to delayed and shallower interest-rate cuts for African central banks this year. Over the next three weeks, analysts predict Nigeria, Angola and Zambia, who are still fighting double-digit inflation, will raise interest rates and only start reducing them next year.

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