Rwanda Central Bank Drops Lending Rate To 6.5%

Quarterly Monetary Policy Committee(MPC) press briefing

The National Bank of Rwanda (BNR) has further lowered the central bank rate (CBR) by 50 basis points to 6.5 percent.

Central Bank Governor, John Rwangombwa said that this is in line with forecasts of stable inflation of around 5 percent over the policy horizon.

“The Monetary Policy Committee(MPC) has decided to reduce the central bank rate by 50 basis points to 6.5 percent,” Rwangombwa said.

The previous central bank rate (CBR) or repo-rate had reached 7% as of the May quarterly brief.