Tanzania Maintains Key Interest Rate at 6%
Tanzania’s central bank held its key interest rate unchanged at 6%, the authority said in a statement. Economic conditions in the country is improving with slowdown in inflation.
The financial market still remains robust with active stock market while business confidence is picking up amidst positive economic outlook.
In the two quarters to September, the central bank held the benchmark rate at 6%, from 5.5% that was announced in January when the bank introduced the rate.
The bank targets inflation of 5%, but consumer inflation has stayed comfortably below that figure, despite growing pressure on the shilling.
Inflation increased to 3.1% year-on-year in August from 3.0% the previous month, data from the statistics office showed. # Tanzania Maintains Key Interest Rate at 6%
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