BEAC: Maintient Taux Directeurs Septembre 2026 Malgré Ralentissement Économique

• The BEAC's Monetary Policy Committee met on September 28, 2026, in Yaoundé, chaired by Governor Yvon Sana Bangui.
• The committee decided to maintain all key interest rates, including the tender offer rate at 4.50%, and kept reserve requirements unchanged.
• CEMAC's economic growth is projected to slow to 3% in 2026, down from 3.7% in 2025.
• Inflation is expected to remain low at 2.2%, with improvements in budget and current account deficits, and rising foreign exchange reserves.
• The decision was made amidst a global economic slowdown, with the IMF forecasting 3% world growth in 2026 due to geopolitical tensions.

This continuity in the Banque des États de l’Afrique centrale taux structure aims to provide a predictable financial environment for the CEMAC region.

The Banque des États de l’Afrique centrale (BEAC) has opted to keep its primary interest rates and reserve requirements unchanged, a decision made during the third ordinary session of its Monetary Policy Committee (CPM) on September 28, 2026. This pivotal meeting, held in Yaoundé and presided over by BEAC Governor Yvon Sana Bangui, signals a consistent approach to the region's financial landscape. The BEAC maintient taux directeurs septembre 2026, reflecting a deliberate strategy amidst evolving economic conditions.

Specifically, the BEAC maintained the interest rate for tender offers at 4.50%, while the marginal lending facility rate remains at 5.75%. The deposit facility rate continues to be set at 0%. Concurrently, the coefficients for mandatory reserves were also held steady: 6.50% for sight liabilities and 4% for term liabilities. This continuity in the Banque des États de l’Afrique centrale taux structure aims to provide a predictable financial environment for the CEMAC region.

The decision by the Comité Politique Monétaire BEAC was taken against a backdrop of anticipated economic shifts within the CEMAC zone. Updated projections from BEAC services indicate that regional growth is expected to slow, reaching 3% in 2026, a decrease from the 3.7% recorded in 2025. Despite this moderation in growth, the overall economic outlook suggests an improvement in external balances, contributing to the rationale for maintaining current monetary settings.

Positive indicators include an expected annual average inflation rate of 2.2%, which remains below the community's established norm. Furthermore, the region's fiscal health is projected to strengthen, with the budget deficit anticipated to narrow to 3.3% of GDP in 2026, down from 4.5% in 2025. The current account deficit is also set to improve, forecast at 2.8% of GDP for 2026, compared to 4.2% in the preceding year. These improvements, alongside increasing foreign exchange reserves—expected to cover 4.53 months of imports in 2026, up from 4.07 months in 2025—underscore a move towards greater stabilité monétaire CEMAC. The external coverage rate of the currency is also projected to rise to 72.4%.

The CPM's deliberations encompassed a comprehensive review of the international economic situation, sub-regional macroeconomic perspectives, and the state of the CEMAC financial system. This broad assessment informed the decision to keep rates stable, acknowledging both internal dynamics and external pressures. The CEMAC politique monétaire 2026 is thus shaped by a careful balancing act.

Globally, the economic environment presents its own challenges, with the International Monetary Fund (IMF) forecasting a worldwide growth rate of 3% for 2026, a decline from 3.5% in 2025. This global slowdown is partly attributed to ongoing geopolitical tensions. By maintaining the taux d'intérêt appels d'offres BEAC and other key rates, the BEAC aims to insulate the CEMAC region from some of these external volatilities, fostering a stable financial climate conducive to economic planning and investment within its member states.

Lawyers advising clients on finance, investment, or commercial transactions within the CEMAC region should note the BEAC's decision to maintain key interest rates, signaling a stable monetary policy environment that impacts borrowing costs and financial market outlooks. This stability is crucial for assessing financial risks and structuring deals in the sub-region.

Source: Original reporting via Actu Cameroun