Rwanda raises key rate as inflation pressures seen remaining

KIGALI, Feb 16 (Reuters) - Rwanda's central bank on Thursday raised its key interest rate to 7.0%, up from 6.5%.

The National Bank of Rwanda said pressures from inflation, which hit 20.7% in January (RWCPIY=ECI), were expected to remain in the short term before inflation falls to below 8% by the end of the year.

The war in Ukraine pushed up commodity prices last year, causing average headline inflation to leap to 13.9% in 2022, up from 0.8% the previous year, the bank said.

Reporting by Philbert Girinema; Writing by Hereward Holland; Editing by Alexander Winning

Reuters

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Rwanda raises key rate as inflation pressures seen remaining

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