Central banks in two of Africa’s largest economies — South Africa and Nigeria — are set to change course on interest rates for the first time in years as inflation lets up. At least five others including Morocco’s and Ghana’s are poised to follow South Africa in adjusting their policy levers lower in the coming days, with many seen undertaking small interest-rate cuts to anchor inflation expectations. Angola is set to be among those that will join Nigeria, which has raised interest rates since May 2022, in keeping policy stances unchanged.
