Tunisia raises rates by 100 basis points to tackle inflation
Despite hike, real rates remain negative; international reserves decline to 71 days of imports
The board of directors of the Central Bank of Tunisia hiked interest rates by 100 basis points after its meeting on June 13, in an attempt to arrest rising inflation.
Policymakers took rates to 6.75%. The move is the second sharp tightening in monetary policy implemented under governor Marouane El Abassi, who took the reins of the institution in February. On March 5, the central bank increased rates by 75 basis points to 5.75%, “to face up to the real risks of an ongoing inflation in 2018”.
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