Recent Challenges to the Conduct of Monetary Policy in the WAEMU : WAEMU

Alain Feler, Lawrence Norton

This paper discusses recent challenges in BCEAO monetary policy, from a recent spike in inflation, the persistent erosion of external reserves, and strains in the regional financial market. In response to these shocks, the BCEAO operated via both policy rates and liquidity management, including by shifting from fixed to variable rate auctions. The paper finds that the conduct of monetary policy became progressively more constrained by financial stability and external viability challenges, arguing for enhanced monetary-fiscal policy coordination to help the BCEAO meet its reserves objectives

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Year of publication:	2024
Authors:	Feler, Alain
Other Persons:	Norton, Lawrence (contributor)
Publisher:	Washington, D.C : International Monetary Fund
Subject:	Geldpolitik \| Monetary policy \| CFA-Franc-Zone \| CFA franc zone \| Währungsunion \| Monetary union

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Erscheint auch als (Druck-Ausgabe):

Feler, Alain. Recent Challenges to the Conduct of Monetary Policy in the WAEMU: WAEMU. - Washington, D.C. : International Monetary Fund, 2024

Persistent link: https://www.econbiz.de/10015058431