The National Bank of Rwanda’s Monetary Policy Committee has today decided to keep unchanged the Key Repo Rate at 7.0%.
The RWF has had a slight depreciation of 3.9% as of 27th September 2013 since December 2012 but that situation is expected to stabilise until the end of 2013, on account of increase in foreign exchange inflows as well as regained confidence in foreign exchange market.
The national economic performance has been moderate with annualized real GDP growth of 6.0% and 5.7% respectively in the First and Second Quarters 2013.
“The MPC noted that there is a need to maintain the current monetary policy stance to foster macroeconomic stability and continue stimulating the financing of the economy in the coming fourth quarter 2013”, The bank said in a statement today.
Urban inflation was 4.04% in the year to August from 3.52% in the previous month.
