Rwanda’s central bank has raised its lending rate by 100 basis points, the biggest increase in recent years, to 6.0 percent to stem rising inflation.
On Thursday, the National Bank of Rwanda (BNR) rate-setting Monetary Policy Committee (MPC) noted that inflation had hit 15.6 percent in July from 12.6 percent in the prior month, well above the 0.8 percent average rate recorded last year.
