• Home
  • About Us
  • Contact Us
Wednesday, February 1, 2023
  • Login
No Result
View All Result
Rwanda Dispatch News Agency
Magazine
  • Home
  • Business
  • Politics
  • National
  • Economy
  • Social
  • Opinions
  • Sport
  • E-dition
  • Entertainment
  • Home
  • Business
  • Politics
  • National
  • Economy
  • Social
  • Opinions
  • Sport
  • E-dition
  • Entertainment
No Result
View All Result
Rwanda Dispatch News Agency
No Result
View All Result
Home Economy

Rwanda Central Bank holds base rate at 4.5 per cent

by Admin
12 November 2021
in Economy
0
Rwanda Central Bank holds base rate at 4.5 per cent
0
SHARES
3
VIEWS
Share on FacebookShare on TwitterWhatsapp
PDF Button

By Jejje Muhinde;

The National Bank of Rwanda (BNR) left its central bank rate (CBA) unchanged at 4.5 per cent to support an economy that is recovering.

The stance by the Monetary Policy Committee (MPC) council is believed to be adequate to support the economic recovery, while bringing inflation up to the medium term objective of 5.0 per cent.

The Governor of the BNR John Rwangombwa, who is also the Chairperson of the MPC on Wednesday, explained that the council has found that the economy does not have a serious problem with inflation.

“The economy has started to recover from the crisis caused by the COVID-19 epidemic, so it has been decided to support the economic recovery, with the basic profit of the Central Bank of Rwanda remaining at 4.5%,”he said.

While on the subject of market price pressures; he explained that this year it is very low and this season it has gone below 0.6%, but on average the annual average is likely to be at 0.7%, which will rise to 5.4% next year.

“What we are happy about is that while it is still in the baseline we are monitoring, the market prices we assume should not exceed 5%. This year is very low. ” He added.

Governor Rwangombwa also described the state of the economy underlining that: “This year’s figures from the International Monetary Fund (IMF) show that the economy will grow at a rate of 5.9% in 2021 and continue to grow in 2022, and in Africa,”

He disclosed that first; the economy grew by 3.5 per cent, in the second quarter (20.6 per cent) adding that the figures followed day by day, show that even in the third quarter the economy will continue to grow at a satisfactory rate.

According to the Governor, exports rose sharply by 58.8 per cent in the third quarter of this year based on the prices of minerals, coffee and tea but imports have continued to rise since the price of petroleum products has risen sharply.

Industrial expenditures have also risen and investment in general as the economy has grown. He points out that the best thing about this is that the difference between what the country exports and what it exports has decreased by 3.2%.

Governor Rwangombwa further explained that the other issue was the stability of the financial sector, which is also in good standing; whether it’s banks, insurance companies, and microfinance institutions.

Related Posts:

  • Skyrocketing commodity prices leave Rwandan families at the crossroads 
    Skyrocketing commodity prices leave Rwandan families at the…
  • Climate actors call for strong  measures to achieve SDGs in the context of COVID-19
    Climate actors call for strong  measures to achieve SDGs in…
  • Le panafricanisme ayant animé la conférence de Casablanca trouve sa continuité dans la nouvelle génération de leaders africains
    Le panafricanisme ayant animé la conférence de Casablanca…
  • Rwanda’s central bank holds key lending rate at 5%
    Rwanda’s central bank holds key lending rate at 5%
  • Adesina stresses partnership to take technologies and innovations to millions of farmers in Africa
    Adesina stresses partnership to take technologies and…
  • How Covid-19 hit hard Rwanda’s small and medium enterprises
    How Covid-19 hit hard Rwanda’s small and medium enterprises
Tags: BNRCBA
Admin

Admin

Next Post
Le Maroc réélu à la Commission du Droit International de l’ONU pour la période 2023-2027

Le Maroc réélu à la Commission du Droit International de l'ONU pour la période 2023-2027

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Splendid Hotel

archives

February 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728  
« Jan    

e-Dispatch

e-Dispatch

Click here to download this magazine

Dispatch Agency Ltd is a local media institution based in Kigali with various media related products premiered with The Dispatch News Magazine.

  • Home
  • About Us
  • Contact Us

© 2022 Rwanda Dispatch .

No Result
View All Result
  • Home
  • Business
  • Politics
  • National
  • Economy
  • Social
  • Opinions
  • Sport
  • E-dition
  • Entertainment

© 2022 Rwanda Dispatch .

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
eskişehir bayan escort - escort eskişehir - eskişehir escort - izmir escort bayan - escort