By Nuzulack Dausen
DAR ES SALAAM (Reuters) – Tanzania’s central financial institution left its key rate of interest unchanged at 6% on Wednesday, holding it regular for a 3rd consecutive coverage assembly, with an intention of protecting inflation beneath its goal.
When it launched the speed in January 2024, the financial institution set it at 5.50%. The financial institution targets inflation of 5%, and client inflation has stayed comfortably beneath that determine.
Inflation is forecast to remain across the vary of three.1% and 4% within the first quarter, Financial institution of Tanzania Governor Emmanuel Tutuba stated in a press release.
Tanzania’s financial system is forecast to develop by about 6% this yr from an estimated 5.4% in 2024, its finance minister and central financial institution governor stated in November in a letter to the Worldwide Financial Fund.
The financial system is forecast to develop 5.7% year-on-year within the first quarter, Tutuba stated.
(This story has been refiled to repair garbled phrases in paragraph 1)
