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Bank of Tanzania to Ease Money Supply Growth to Tame Prices

  • Food, energy, fertilizer prices pose upward risk to inflation
  • Price growth has remained within the 3%-5% target range

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, the MPC approved the Bank of Tanzania to reduce the speed of expanding liquidity in the remainder of 2022,” the Monetary Policy Committee said in a statement following its latest meeting on Aug. 5. That’s in order to tame inflationary pressures from the demand side, while safeguarding the growth of the economy, it said.