Central Bank of Tanzania keeps key interest rate unchanged at 6% by Reuters

DAR ES SALAAM (Reuters) – Tanzania’s central bank left its key interest rate unchanged at 6% on Wednesday, keeping it steady for the third straight policy meeting.

When the bank launched the rate in January 2024, it set it at 5.50%. The bank targets an inflation rate of 5%, and consumer inflation has remained comfortably below this number.

Tanzania’s finance minister and central bank governor said in November in a letter to the International Monetary Fund that Tanzania’s economy is expected to grow by about 6% this year from 5.4% in 2024.