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DAKAR, March 1 (Reuters) - West Africa's Central Bank,
BCEAO, will raise its main lending rate by 25 basis points to
3.00% from March 16 to bring inflation within its target range,
it said on Wednesday.
The bank said in a statement that inflation decreased to 6%
in January from 7% in December but the rate hike should help to
bring it within target of 1% to 3% in the medium term.
The Central Bank of West African States (BCEAO) covers
the eight-nation CFA franc currency comprising Benin, Burkina
Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo
(Reporting by Diadie Ba; Writing by Anait Miridzhanian; Editing
by James Macharia Chege)
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