The Central Bank of Tunisia (BCT) decided on Friday to raise its key rate by 75 basis points to 8%, in order to curb the upward trend in inflation.
This decision, which will come into force from January 2, 2023, aims to “bring inflation back to sustainable levels in the medium term”, in order to protect the purchasing power of citizens, explains the BCT in a press release published on the outcome of its last board meeting.
It is also a question of preserving the stock of foreign currency assets and promoting conditions conducive to a healthy and lasting economic recovery, the same source points out.
In the same vein, the rates for deposit facilities and 24-hour loans have been increased to 7% and 9% respectively, specifies the BCT, noting that the minimum rate of remuneration for savings has risen to 7%.
The Central Bank expressed, in this context, its deep concerns regarding the “risks surrounding the monetary and financial balances of Tunisia”, while stressing the need to guarantee the external financing necessary for the balance of public finances.
Moreover, the BCT indicates that the economic growth rate might reach 2.2% in 2022, attributing the recovery of the Tunisian economy to the good performance of the tourism, trade and export industries sectors.
Last November, the annual inflation rate in Tunisia rose to 9.8%, once morest 9.2% a month earlier, thus confirming its upward trajectory, according to the Tunisian Institute of Statistics (INS).
