{
  "id": 19121718,
  "title": "Ethiopia’s Central Bank Fights an Oil Shock",
  "url": "https://urgent.news/2026/11/09/ethiopias-central-bank-fights-an-oil-shock",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-09T07:34:56.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/ethiopia-central-bank-oil-shock-inflation/"
  },
  "original_language": "en",
  "account": "Ethiopia's Central Bank, the National Bank of Ethiopia (NBE), maintained its policy interest rate at 16% on November 3, 2026, following inflation data showing annual consumer price increases of 14.9%. The bank attributes the high inflation to supply shocks, primarily driven by the Middle East conflict that caused oil price surges. Energy costs, including electricity, kerosene, and firewood, along with rising food prices for bread, cereals, vegetables, pulses, and coffee beans, contribute significantly to non-food inflation. Inflation peaked in May at 13.4% before easing slightly, yet it remained far above the central bank's target of single-digit inflation. The NBE raised its policy rate from 15% to 16% in July and removed a credit growth cap, signaling moderate monetary looseness. Despite recent increases in money supply, the bank expects double-digit inflation to persist for the next six months. Analysts suggest monitoring non-food inflation trends as a potential indicator of the oil shock's impact diminishing.",
  "summary": "Ethiopia's central bank blames oil-driven supply shocks for inflation near 15%, yet its own data show money growing faster than the economy. The post Ethiopia’s Central Bank Fights an Oil Shock appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}