NBE Reaffirms Commitment to Market-Based FX Regime in Q1 2026 Review

As reported by National Bank of Ethiopia

Summary

• The National Bank of Ethiopia published its first quarter 2026 macroeconomic review, reaffirming the central bank's commitment to the market-based foreign exchange regime launched in mid-2024.
• Key policy messages include: maintaining the 15% National Bank Rate through Q1 2026; continued credit growth discipline targeting year-on-year growth below 24%; and steady liquidity management using Open Market Operations and reserve requirements.
• The review noted that headline inflation continued its gradual decline, reaching 10.2% in February 2026 compared to 10.9% in November 2025. Export receipts remained robust, supporting foreign exchange reserves.
• For BirrValue users: The NBE's consistent messaging supports continued stability in official FX channels. Bank conversion spreads remain competitive as the market-based regime matures. Compare rates across CBE, Awash, Dashen, and other banks on BirrValue before large transfers—micro-level pricing still varies.