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The bank was established under the Bank of Tanzania Act 1965. However, in 1995, the government decided that the central bank had too many responsibilities, thus hindering its other objectives. As a result, the government introduced the Bank of Tanzania Act 1995, which gave the bank the single objective of monetary policy.
Central bank interest rate (%) Change Effective date of last change Average inflation rate 2017–2021 (%) by WB and IMF [1] [2] as in the List Central bank interest rate minus average inflation rate (2017–2021) Afghanistan: 6.00 3.00: 24 July 2021 [3] 3.38 2.62 Albania: 2.75 0.25: 6 November 2024 [4] 1.78 0.97 Algeria: 3.00 0.25: 29 April ...
The World Bank projects Tanzania's GDP growth to reach 5.1% in 2023. ... low underlying inflation, an adequate level of official international reserves, and have ...
Bank of Tanzania website: Valuation; Inflation: 5.6% ... Bank of Tanzania headquarters building in Dar es Salaam: ... Current TZS exchange rates;
Commercial bank prime lending rate Date of information 1 Madagascar: 64.00: 31 December 2017 est. 2 Brazil: 10.50: 08 May 2024 3 Congo, Democratic Republic of the: 35.90: 31 December 2017 est. 4 Syria: 33.30: 31 December 2017 est. 5 Gambia, The: 30.60: 31 December 2017 est. 6 Tajikistan: 30.00: 31 December 2017 est. 7 Ghana: 8 Mozambique: 27.00 ...
At the end of 1990, a 20% inflation rate pushed the Central Bank of Chile to announce an inflation objective for the annual inflation rate for the year ending in December 1991. [19] Colombia Banco de la República: 10/1999 [5] South Africa South African Reserve Bank: 02/2000 [5] Thailand Bank of Thailand: 05/2000 [5] Hungary Hungarian National ...
The World Bank reports the economy of Sub-Saharan African countries grew at rates that match or surpass global rates. [ 38 ] [ 39 ] According to the United Nations Department of Economic and Social Affairs , the improvement in the region's aggregate growth is largely attributable to a recovery in Egypt , Nigeria and South Africa , three of ...
The idea is that the central bank tries to adjust interest rates in order to steer the country's inflation rate towards the official target instead of following indirect objectives like exchange rate stability or money supply growth, the purpose of which is normally also ultimately to obtain low and stable inflation.