Entre détente des taux et reflux des prix, l’UEMOA cherche son souffle
In September 2025, the BCEAO recorded a decrease in the volume of interbank transactions in the WAEMU, which stood at 761.6 billion CFA francs, compared to 781.5 billion the previous month, representing a decline of 2.5%. This trend reflects a slight slowdown in flows between banks, while maintaining a comfortable level of liquidity. The average one-week interest rate fell to 4.88%, indicating an easing of refinancing conditions on the regional money market.
Annual inflation remained negative for the fourth consecutive month, at -1.3%, driven by the continued decline in food prices. Core inflation, which excludes volatile goods, remained stable at 0.3%, reflecting moderate pressure on non-food prices. This combination of low inflation and slightly lower interest rates suggests a situation of relative monetary stability, while highlighting the need to support growth and consumption in a still fragile economic environment.
Analysts indicate that this trend could support a recovery in bank lending, but also emphasize that price stability will depend on developments in food markets and energy prices, as well as future monetary policies of the BCEAO (Central Bank of West African States). Attention therefore remains focused on the balance between bank liquidity, inflation, and support for economic growth.
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