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Bloomberg
The Bank of Tanzania plans to be less accommodative for the remainder of the year to curb inflationary pressures.
“At the backdrop of rising inflationary pressures, MPC approved Bank of Tanzania to reduce the speed of expanding liquidity in remainder of 2022,†Monetary Policy Committee said.
in a statement following its latest meeting. That’s in order to tame inflationary pressures from the demand side, while safeguarding the growth of the economy, it said.
The MPC also emphasised the need for the central bank to maintain adequate foreign exchange reserves to cushion the economy from the negative impact of high commodity prices.