DAR ES SALAAM (Reuters) – Tanzania’s central bank held its key interest rate unchanged at 6%, it said on Thursday.
In the two quarters to September, the central bank held the benchmark rate at 6%, from 5.5% that was announced in January when the bank introduced the rate.
The bank targets inflation of 5%, but consumer inflation has stayed comfortably below that figure, despite growing pressure on the shilling.
Inflation increased to 3.1% year-on-year in August from 3.0% the previous month, data from the statistics office showed.
(Reporting by Nuzulack Dausen; Writing by George Obulutsa; Editing by Christina Fincher)
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