DAR ES SALAAM, Jan 8 (Reuters) – Tanzania’s central bank kept its benchmark interest rate (TZINTR=ECI), opens new tab unchanged at 5.75% for the second policy meeting in a row on Thursday, saying it wanted to support stronger economic growth.
“The Monetary Policy Committee expects economic conditions to be favourable, and therefore, keeping the (rate) unchanged would support robust economic growth,” the bank said in a statement.
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It added that its decision was taken considering that inflation is projected to remain within the target range of 3%–5%.
The East African country’s inflation (TZCPIY=ECI), opens new tab has oscillated around 3% for the past two years. In November it stood at 3.4% in annual terms, slightly lower than the 3.5% reported in October.
It projected economic growth of 5.9% in 2025, boosted mainly by agriculture, mining, and construction sectors.
Reporting by Nuzulack Dausen;
Additional reporting by Vincent Mumo Nzilani;
Writing by Elias Biryabarema;
Editing by Sfundo Parakozov
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