Rwanda raises benchmark rate 50bp
MPC statement warns of expected spike in inflation in 2022
Rwanda’s monetary policy committee made its first rate hike in almost 10 years, raising its benchmark lending rate 50 basis points to 5%.
The decision, made at its quarterly meeting on February 15, reversed the 50bp drop the MPC ordered in April 2020.
It is the first time the committee has raised the benchmark lending rate since May 2012. The National Bank of Rwanda adopted its current price-targeting monetary framework in January 2019.
The MPC said in its official statement that it was
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