{"id":48679,"date":"2023-08-17T10:56:28","date_gmt":"2023-08-17T10:56:28","guid":{"rendered":"https:\/\/new.igihe.com\/bnr-increases-lending-rate-to-7-5-percent\/"},"modified":"2023-08-23T09:51:47","modified_gmt":"2023-08-23T09:51:47","slug":"bnr-increases-lending-rate-to-7-5-percent","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/bnr-increases-lending-rate-to-7-5-percent\/","title":{"rendered":"BNR increases lending rate to 7.5 percent"},"content":{"rendered":"<p>The decision was reached during the quarterly meeting of the Monetary Policy Committee and Financial Stability Committee held this week.<\/p>\n<p>The meeting determines the lending rate at which commercial banks will borrow money over the next three months.<\/p>\n<p>Also known as the key repo rate, the lending rate is the fee at which the Central Bank lends to commercial banks.<\/p>\n<p>It is used by monetary authorities to control inflation.<\/p>\n<p>In February, the base lending rate had been increased to 7% from 6.5%. The rate was maintained in May 2023 prior to the new development.  <\/p>\n<p>According to the Central Bank Governor, John Rwangombwa, the repo rate has been increased in consideration of several uncertainties and aim to  maintain a downward trend of inflation.  <\/p>\n<p>He further stated that the repo rate has been on rise over the past one and half years, from 4% to the current 7.5% but expressed optimism for decreased rates.  <\/p>\n<p>\u201cWe expect to see this continued reduction in inflation and return to our band  of 2 to 8 percent [in fact around 5 percent] in 2024. If nothing else happens or unexpectedly happens, from our projections, we don\u2019t expect any further increase going forward,\u201d disclosed Rwangombwa.   <\/p>\n<figure class=\"spip-document spip-document-59029\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/rwa-4.jpg\" alt=\"Central Bank Governor, John Rwangombwa presenting outcomes of the quarterly Monetary Policy and Financial Stability Committee Meeting. \" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>{The National Bank of Rwanda (BNR) has increased lending rate to 7.5% up from 7% of the first quarter of this year.} <\/p>\n","protected":false},"author":62,"featured_media":2000059028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[72,75],"byline":[170],"hashtag":[],"class_list":["post-48679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-featured-news-home","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000059028,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwa.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwa.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwa.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwa.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwa.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/rwa.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/48679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=48679"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/48679\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000059028"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=48679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=48679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=48679"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=48679"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=48679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}