Tanzania Interest Rate

Tanzania's central bank maintained its benchmark interest rate at 6% for the third consecutive policy meeting on January 8th, 2025, aiming to keep inflation below target. Over the four quarters leading to March 2025, the central bank kept the benchmark rate at 6%, up from 5.5% when the rate was introduced in January 2024. Inflation is forecast to stay within the range of 3.1% to 4% in the first quarter of 2025, according to Bank of Tanzania Governor Emmanuel Tutuba, who made the statement. Meanwhile, the economy is forecast to grow by 5.7% year-on-year in the first quarter of 2025. Last November, the finance minister and central bank governor said GDP is expected to grow by about 6% in 2024, higher than the earlier estimate of 5.4%.