In a strategic move to invigorate economic growth, the National Bank of Rwanda has reduced the repo rate from 7.50% to 7.00%, effective May 29, 2024. This decision marks a significant shift in monetary policy aimed at addressing economic challenges and fostering a conducive environment for investment and consumption.
The repo rate reduction comes at a crucial time when Rwanda, like many other economies, is looking to navigate the complexities of global economic fluctuations. By lowering the cost of borrowing, the central bank aims to stimulate business activities, boost consumer spending, and ultimately support the country's economic expansion.
This move is anticipated to have a ripple effect across various sectors, encouraging banks to pass on the lower rates to consumers and businesses. As the country positions itself for sustained growth, the reduction in the repo rate underscores the central bank’s commitment to maintaining economic stability and fostering a robust financial environment.
