Governor Eyob Ends NBE Deposit Rate Floors to Restore Policy Credibility

Kiswahili

Governor Eyob of the National Bank of Ethiopia (NBE) has eliminated the deposit interest rate floors for savings deposits, aiming to restore policy credibility, enhance banking flexibility, and build trust in monetary frameworks.

The National Bank of Ethiopia (NBE), under Governor Eyob's leadership, has terminated the minimum interest rate floors on savings deposits, as reported by Addis Fortune, Ethiopia's leading English-language business weekly. This policy shift seeks to adjust banking practices, improve deposit management, increase sector flexibility, and restore credibility to NBE's frameworks. While specific implementation timelines and impacts remain undisclosed, the decision marks a key step in monetary policy refinement.

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