The Bank of Tanzania has set a target inflation rate of 5%, with consumer inflation consistently hovering around 3% since the policy rate was introduced in January 2024.

Governor Emmanuel Tutuba shared that the country's economy is expected to grow by around 6% this year, an improvement from the estimated 5.4% growth in 2024.  

The decision to keep the interest rate steady reflects the bank's commitment to managing inflation while supporting steady growth in the economy.

--ChannelAfrica--