"The MPC noted that while inflation is expected to ease in 2025, there are still risks that could disrupt this outlook. In particular, the rapid growth in money supply is a policy concern," the central bank said in a statement.

It said the domestic economy was expected to grow 2.3% this year, constrained by the impact of El Nino weather conditions on agricultural production and continued shortages of foreign exchange.

Next year growth is projected to pick up to 4.3%.

--Reuters--