Reuters: Dar es Salaam For the third consecutive policy
meeting, Tanzania's central bank held its benchmark interest rate steady at 6%
on Wednesday in an effort to keep inflation below its target.
The rate was set at 5.50% by the bank when it was introduced
in January 2024. Consumer inflation has remained comfortably below the 5%
inflation target set by the bank.
In the first quarter, inflation is expected to remain
between 3.1% to 4%, according to a statement from Bank of Tanzania Governor
Emmanuel Tutuba.
In November, Tanzania's finance minister and central bank governor wrote to the
International Monetary Fund, predicting that the country's economy will expand
by almost 6% this year, up from a projected 5.4% in 2024. Fund.
The economy is forecast to grow 5.7% year-on-year in the
first quarter, Tutuba said.
(This story has been refiled to fix garbled words in
paragraph 1)
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