Tanzania: Banks Lending, Deposits Rates Decline

BANKS average lending and deposits interest rates declined in the year ending February compared to January and the corresponding month in 2017 as response to the easing monetary policy stance albeit with a lag.

According to the Bank of Tanzania (BoT) monthly economic review for March, the overall weighted average lending rate was 17.27 percent in February 2018 compared with 18.31 percent in January 2018 and 17.80 percent in the corresponding month in 2017.

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