Tanzania Central Bank Maintains Lending Rate at 6% – Reuters

TANZANIA – The central bank of Tanzania announced on Thursday that it will maintain its key interest rate at 6%.

Throughout the two quarters leading up to September, the bank has kept the benchmark rate steady, after raising it from 5.5% in January when the new rate was introduced.

While the bank aims for an inflation target of 5%, consumer inflation has remained well below that level, despite some pressures on the local currency, the shilling. Recent data from the statistics office indicated that inflation rose to 3.1% year-on-year in August, up from 3.0% in July.