Kenyan mid-tier Commercial Bank Africa (CBA) has acquired Crane Bank Rwanda from Uganda’s Dfcu Bank (USE:DFCU).

Rwanda’s inflation rate dropped to 4.8 per cent in June compared to 6.5 per cent recorded in May, the National Institute of Statistics of Rwanda monthly consumer price index (CPI) indicates. However, this is slightly higher than the 4.1 per cent recorded during the same period last year. The rate was down 0.8 per cent on a monthly basis, the report indicates. Rwanda uses CPI to measure price movements over time on a selected basket of goods and services.

Rwanda's central bank eased its policy stance for the third quarter of this year by cutting its key repo rate by 25 basis points to 6.0 percent, citing decelerating inflation, easing pressure on the exchange rate of the Rwandan franc and development in monetary aggregates.

The Central Bank is switching to an inflation targeting monetary policy regime to keep the spiralling prices of goods and services in check.