Tanzanian central bank slashes discount rate
Central bank cuts discount rate for the first time since 2013, from 16% to 12%
For the first time in four years, the Bank of Tanzania has reduced the rate it charges commercial banks for borrowing, in an attempt to boost credit growth.
In a statement circulated to commercial banks, the central bank’s deputy governor Natu Mwamba announced it would be lowering its discount rate from 16% to 12%, effective from March 6.
“The discount rate, which is applicable to banks borrowing from the Bank of Tanzania as a lender of last resort, will also be used to discount Treasury
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