TMM up to 7.96%, in January 2023

The Average Money Market Rate (TMM) maintains its upward trend to reach 7.96% during the month of January 2023, against 7.26% during the month of December 2022, according to data published on Wednesday by the Bank Central Tunisia (BCT). The MMR stood at 6.19% and 6.15%, respectively during the months of January 2022 and January 2021. This increase is explained by the decision taken by the Board of Directors of the BCT, at the date of December 30, 2022, relating to the increase in the key rate by 75 basis points, to 8%. The objective, according to the BCT, was to “contribute to curbing the upward trend of inflation, bringing it back to sustainable levels in the medium term, in order to protect the purchasing power of citizens, to preserve the stock of foreign currency assets and to foster the conditions for a healthy and sustainable economic recovery.”