THE Bank of Tanzania (BoT) has said interest rates on bank loans and deposits were somewhat mixed in September in terms of movement from the preceding month.
The central bank’s monthly economic
review releases recently shows that time deposit rate on all deposit
maturities increased to 9.02 per cent from 8.78 per cent in August 2016.
However, the rate despite going up in September was lower than 9.07
percent registered in September 2015.
On the other hand, lending rates on
various loan maturities averaged at 15.83 per cent, slightly higher than
the preceding month level, but lower compared with that of September
2015 by 35 basis points.
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