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Tanzania’s Rate Hike Sparks Economic Concerns | Tanzania News
Tanzania’s central bank just hiked its key lending rate to 6.25%, sparking alarm in Parliament over rising loan costs for businesses. Lawmakers fear the move could stifle economic growth and derail national targets, especially as private sector funding becomes scarcer. One MP demanded clarity on when the central bank might lower rates to ease borrowing, while the Deputy Minister clarified that commercial banks set their own rates based on market conditions — though the government is pushing for greater transparency and competition. The hike was aimed at curbing inflation, which has edged up…
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