The Bank of Tanzania’s (BoT) Monetary Policy Committee (MPC) has decided to keep the benchmark lending rate unchanged at six percent, for the next three months to September 30, to boost consumer and business spending and sustain the momentum of economic recovery.
The BoT joins Kenya, Uganda and Rwandan central banks that are cautiously loosening their monetary policy positions to strengthen consumer and business spending powers that have been significantly eroded by high cost of loans and high cost of goods and services which are adversely impacting economic growth rates in the region.
