June 10, 2019 / 10:05 AM / 15 days ago

Tanzania central bank cuts banks' reserve requirements to boost lending

NAIROBI, June 10 (Reuters) - Tanzania’s central bank cut the proportion of deposits banks are required to maintain as reserves 7% from 8%, effective July 1, in order to boost lending, it said on Monday.

The East African nation does not set interest rates conventionally using a benchmark. It uses the statutory minimum reserve requirement to influence private sector credit growth. (Reporting by Omar Mohamed Writing by Duncan Miriri; editing by John Stonestreet)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below