The Bank of Tanzania has maintained its benchmark interest rate at six per cent to stimulate spending and support economic recovery. Governor Emmanuel Rutuba mentioned that the decision was influenced by low inflation and expected stability in commodity prices. The economy is thriving, with growth in sectors like agriculture, transport, and manufacturing fueled by public and private investments in infrastructure. Positive forecasts include favorable weather conditions, improved infrastructure, and steady lending to the private sector. Tanzania’s lending rate is the lowest in the East African Community, with other countries like Kenya, Burundi, Uganda, and Rwanda having higher rates. Overall, the outlook for the Tanzanian economy looks promising, with the Central Bank playing a pivotal role in maintaining growth and stability.
Tanzania Central Bank Keeps Policy Rate Stable at 6%
