Tanzania will next month join Kenya and Uganda on introducing and using interest policy rate on price stability. Also Rwanda is in the list to shift to the policy rate later this year.
The rate introduction came at a time when the central bank, Bank of Tanzania (BoT), said the money market infrastructures support the introduction of the new framework. The policy, which BoT has been working on for five years, is set to target interbank cash market rate, of which banks lend to each other. Read more. Source | Daily News