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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Rwandan central bank maintains key repo
rate due to positive economic outlook

KIGALI Rwanda (Xinhua) -- The Rwandan central bank decided on Tuesday to maintain the key repo rate at 5.5 percent, citing positive macroeconomic conditions that are expected to continue.

Rwanda’s economic growth in the second quarter of 2018 was 6.7 percent compared to 4.0 percent in the same period of 2017, John Rwangombwa, governor of the National Bank of Rwanda, told a press briefing following a monetary policy committee meeting of the bank in the capital city, Kigali.

Industry, agriculture and services sectors grew by 10 percent, 6 percent and 5 percent respectively, Rwangombwa said.

The country’s economic activity will likely continue to perform well throughout the second half of 2018, he said.

The central bank said there are signals that the economy is on track to achieve the initial annual growth projection of 7.2 percent in 2018.

In the first half of 2018, the economy grew by 8.7 percent on average, compared to 2.9 percent in the same period of 2017, according to the bank.

             

 

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