FX.co ★ Rwanda Leaves Key Policy Rate at 6.75%

The National Bank of Rwanda decided to maintain its benchmark interest rate at 6.75% in its November 2025 meeting, marking the highest level since July 2024. The policymakers indicated that this current rate is suitable for ensuring that inflation stays within the bank's target range of 2% to 8%, with an aim to reach a medium-term target of 5%. The central bank observed that headline inflation climbed to 7.2% in the third quarter of 2025, an increase from 6.7% in the preceding quarter, largely driven by rises in the core inflation measure and in energy prices. Expectations are that inflation will continue to fall within the target range, averaging 6.9% in 2025 and decreasing to 5.8% in 2026. Core inflation is anticipated to remain elevated until early 2026, after which it should gradually start to decline.