The Central Bank of the Democratic Republic of Congo held its policy rate at 12.5% after its monetary policy committee met on 8 October. Reuters reported the decision from a central bank statement. Congolese outlet DeskEco said the meeting took place in Kolwezi, in Lualaba province, as policymakers confronted renewed inflation pressure.
The decision followed a 100-basis-point reduction in July, when the policy rate fell from 13.5% to 12.5%. The marginal lending-facility rate remained at 16.5%, and required-reserve ratios were retained, according to DeskEco. The latest move therefore paused the easing sequence rather than reversing it.
INFLATION PRESSURES LIMITED FURTHER EASING
DeskEco reported that annual inflation rose to 7.25% at the end of September from 4.83% at the end of June. The outlet attributed the increase, based on central-bank figures, to food prices, conflict in eastern Congo and the Ebola outbreak. The BCC projected inflation of 8.90% at the end of 2026 before an easing to 6.40% in 2027.
The central bank projected economic growth of 5.4% for 2026, compared with 5.7% in 2025, DeskEco reported. It also put foreign-exchange reserves at $7.8 billion, equivalent to almost three months of imports. Those buffers sit alongside risks from commodity prices and security conditions that can affect the franc and domestic prices.
BANK LIQUIDITY REMAINS CENTRAL TO POLICY TRANSMISSION
A BCC economic note dated 2 October said banking-system deposits reached the equivalent of $20.81 billion at the end of August, up 0.6% from July. Gross credit rose 0.7% to $11.66 billion, leaving the loans-to-deposits ratio at 56.0%. The note also said the marginal lending facility and interbank market had recorded no transactions since June.
Holding the rate preserves a positive policy setting while the bank assesses whether September's inflation rise persists. Further easing would depend on renewed disinflation, exchange-rate stability and security developments remaining consistent with the BCC's forecasts. The next policy committee decision and forthcoming inflation data will show whether that balance changes.