Rwanda Bucks Africa Trend With Biggest Rate Hike in 3 Years

The National Bank of Rwanda delivered its largest interest-rate increase in almost three years in an effort to curb inflation in the near term, bucking a broader easing trend across Africa.

The monetary policy committee lifted the key rate to 7.25% from 6.75%, Governor Soraya Hakuziyaremye told reporters on Thursday. The move, the biggest since August 2023, brings total rate increases to 75 basis points since the central bank began tightening policy last year.