Madagascar’s central bank has raised its key interest rate by 50 bps, settling it at 11%, as the country grapples with high inflation rates. Although there has been a slight dip in inflation since April, the rates remain elevated, prompting this decision. Inflation stood at 11.3% YoY in June, down from 11.8% in May, but the central bank aims to reduce this to 8.3% by the end of the year.