NBR cuts its benchmark rate by 2.5 percent

The National Bank of Rwanda (NBR) announced Friday that it has slashed its key repo rate from 9 percent to 7.5 percent to lower the cost of funding by commercial banks.François Kanimba, Governor of the NBR said that the decision by the bank’s Monetary Policy Committee was induced by the current macro-economic environment, characterised by a stable and low inflation that is estimated at 6 percent this month on an annual basis.