RIYADH: Central banks in five of eight major African nations will most likely hold interest rates in the next two weeks, Bloomberg has reported. According to Tatonga Rusike, an economist at the Bank of America, countries like Kenya, Zambia and Angola where inflation is slowing or within target may leave interest rates unchanged to support the recovering economy. On the other hand, countries like South Africa that are more connected with the global markets through asset flows and commodity prices may most likely hike the interest rates, stated Rusike. Several factors, including the ongoing war between Russia and Ukraine and the rising COVID-19 cases in China, have clouded the outlook for Africa’s post-pandemic recovery. Now, African policymakers should also consider portfolio outflows and exchange-rate weakness in emerging markets as they work on interest rate decisions this month.