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East African Community central bank governors this week met in Zanzibar to discuss the bloc’s monetary cooperation programmes under the integration agenda. The meeting came at a time regional currencies have heavily depreciated against a strengthening US dollar, which has escalated exchange rates with trickle-down effects on commercial bank lending rates as well as inflationary pressures on trade.

East African Community central bank governors this week met in Zanzibar to discuss the bloc’s monetary cooperation programmes under the integration agenda. The meeting came at a time regional currencies have heavily depreciated against a strengthening US dollar, which has escalated exchange rates with trickle-down effects on commercial bank lending rates as well as inflationary pressures on trade.

 

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