Economics
Rwanda Unexpectedly Hikes Interest Rate for First Time in Decade
- Monetary policy committee increases rate to 5% from 4.5%
- Interest rate hike is biggest in sub-Saharan Africa this year
The National Bank of Rwanda in Kigali.
Photographer: Thomas Imo/Photothek/Getty Images
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The National Bank of Rwanda unexpectedly increased its benchmark interest rate for the first time in almost a decade, with inflation threatening to go above target this year.