Tanzania’s central bank has kept its benchmark interest rate steady at 5.75%, citing stable inflation and robust economic performance.
Governor Emmanuel Tutuba said inflation is forecast to stay within the target range of 3% to 5%, while economic growth is expected to remain strong, driven by public and private investment and robust export performance.
The country’s inflation rate has oscillated around 3% for the past two years, with a slight increase to 3.4% year-on-year in August.
Economic growth in the first quarter was 5.4% on the year, and growth of more than 6% is estimated in the second and third quarters.
The central bank’s decision reflects the government’s efforts to maintain economic stability ahead of the October 29 elections.
