KIGALI, Nov. 15 (Xinhua) -- Rwanda's central bank announced Tuesday that it has decided to hike the repo rate from 6.0 percent to 6.5 percent in a bid to rein in inflation.
"Inflation is expected to remain elevated for longer than previously forecasted. This is mainly due to continued global economic challenges as well as lower domestic agricultural production," John Rwangombwa, governor of the National Bank of Rwanda, told a press briefing following a meeting of the Monetary Policy Committee (MPC) and Financial Stability Committee (FSC) of the bank in the capital city, Kigali.
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