National Bank of Rwanda maintains policy rate at 7.5%

The Governor of the National Bank of Rwanda, John Rwangombwa has announced that Rwanda's monetary policy rate will be maintained at 7.5 per cent. This decision follows a review of the economy from November 2023 to February 2024. The last MPC meeting in November 2023 also maintained the lending rate at 7.5 per cent. with the last increment in August 2023 of 50 basis points. Inflation currently stands at 5 per cent, falling within the target band, with the decline in core inflation attributed to improved rainfall and softer energy prices and high sectorial performance. The Governor noted that global developments could influence future monetary policy outcomes.