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The International Monetary Fund (IMF) said on 15 October that most sub-Saharan African central banks may need to tighten policy as inflation rises. Its regional outlook sees median inflation climbing from 3.4% in 2025 to 4.3% in 2026 and 5% in 2027, while interest payments already absorb about 12% of government revenue. Uganda raised its policy rate by 2.25 points to 12% on 14 October to halt the shilling's slide, and South African Reserve Bank Governor Lesetja Kganyago said on 15 October that underlying inflation measures point to an upturn. Oil above $100 and US Treasury yields near 5.2% are reversing last year's easing, raising borrowing costs for governments and companies.
