March 6, 2017 / 10:27 AM / 8 months ago

Tanzania central bank cuts its discount rate to 12 pct

DAR ES SALAAM, March 6 (Reuters) - Tanzania’s central bank cuts its discount rate to 12 percent effective Monday from 16 percent, a central bank circular to lenders showed, in order to boost the economy through lending.

The cut, which is the first since 2013, follows a steep drop in private sector credit lending last year. (Reporting by Fumbuka Ng‘wanakilala; Editing by Toby Chopra)

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