Rwanda Lowers Key Repo Rate to 6 Percent

Share it

The Central Bank Governor -John Rwangombwa

Rwanda’s central bank lowered its repo rate on Tuesday to 6 percent from 6.25 percent, the bank’s governor said.

“The lowering of the key repo rate is to signal the banks to increase lending to the private sector and support growth,” Governor John Rwangombwa told reporters on Tuesday.

The Central Bank Governor said that the move followed “trends in inflation that is reducing, less pressure on exchange rates and positive performance in the monetary aggregates.”

Rwangombwa also noted inflation was expected to stand between 5.5 and 6 percent by the end of the year, lower than the 7 percent the bank had forecast in March.

The bank said non-performing loans in the banking sector increased to 8.1 percent from 6.2 percent in March last year and attributed this to poor project implementation and low appraisal of loan applications.

Tags:

 

About the author

More posts by

 

0 Comments

You can be the first one to leave a comment.

Leave a Comment

 




 

 
 

Warning: Illegal string offset 'id' in /home/wp_ts2em7/rwandaeye.com/wp-content/themes/manifesto/footer.php on line 4

Warning: Illegal string offset 'id' in /home/wp_ts2em7/rwandaeye.com/wp-content/themes/manifesto/footer.php on line 4

Warning: Illegal string offset 'id' in /home/wp_ts2em7/rwandaeye.com/wp-content/themes/manifesto/footer.php on line 4