Tanzania central bank holds key interest rate unchanged at 6%

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

When it launched the rate in January 2024, the bank set it at 5.50%. The bank targets inflation of 5%, and consumer inflation has stayed comfortably below that figure.

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