The monetary policy committee increases the key policy rate to 6% from 5%
A view of the city of Kigali in Rwanda. Picture: GETTY IMAGES/ TASS/ ALEXANDER SHCHERBAK
The monetary policy committee increased the key policy rate to 6% from 5%, governor John Rwangombwa said in the capital, Kigali. That’s the most since January 2009 and takes the cumulative rate increases for 2022 to 150 basis points. Annual urban inflation in Rwanda quickened to 15.6% in July, its highest level in at least 12 years, as the prices of bread to vegetables surged. It’s also breached the central bank’s target range for four months.
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