Dar es Salaam, April 5 -- DAR ES SALAAM: THE Bank of Tanzania (BoT) has raised its key interest rate from 5.5 per cent to 6 per cent to curb inflationary pressures from global economic developments despite the satisfactory domestic condition.

The BoT Governor, Emmanuel Tutuba said in Dar es Salaam on Thursday that the new Central Bank Rate (CBR) will be applicable in the second quarter of 2024, which runs from April to June 2024.

“The decision is based on the macroeconomic forecast made in March 2024, which requires an increase in the scope of monetary policy actions to contain the lingering inflationary pressures arising from global economic developments,” he said at a meeting with heads of banks and mobile telephone firms ...