Rwanda: Bank lending rate lowered

Comment on this story

Rwanda’s central bank had lowered its benchmark lending rate for the first time in a year to support an economic recovery, governor John Rwangombwa said yesterday. The policy rate was cut to 6.5 percent from 7 percent, the first since June last year, Rwangombwa said. Price pressures remained contained with urban inflation, which slowed to 1.9 percent last month, forecast to remain below 3 percent in the second quarter, he said. Economic growth had accelerated to 7.4 percent in the first quarter from 4.7 percent a year earlier, helped by a 5 percent expansion in agriculture. “The economy is recovering from a slowdown last year, key indicators show the economy will continue recovering in the second quarter.” – Bloomberg

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.