{"id":16713,"date":"2020-10-13T19:06:32","date_gmt":"2020-10-13T19:06:32","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=16713"},"modified":"2020-10-13T19:06:32","modified_gmt":"2020-10-13T19:06:32","slug":"interbank-rates-up-by-4-pc-in-weeks-time","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time","title":{"rendered":"INTERBANK RATES UP BY 4 PC IN WEEK\u2019S TIME"},"content":{"rendered":"

AfricaPress-Tanzania:<\/strong> THE interbank rate rose by 2 basis points (bps) to 4.0 per cent in seven days to last Friday, pushed up by an uptake in loans from the public.<\/p>\n

The weekly rise, according to some analysts, was the result of volume growth band for the fourth consecutive week.<\/p>\n

The Orbit Securities Limited said in a week Market Synopsis that the rates were pushed by increasing loan demand to cause a \u2018fairly tightening liquidity\u2019 in the banking sector.<\/p>\n

\u201cThe weekly rise takes the volume growth streak to a fourth consecutive week, and similarly a growth in the interbank rates marking a fairly tightening liquidity in the banking sector which may be caused by an uptake in loans from the public,\u201d Orbit said.<\/p>\n

The value of transactions on the Interbank Cash Market (IBCM) rose by 13 per cent week on week to a total of 62bn\/- compared to 54.9bn\/- during the previous week.<\/p>\n

The Bank of Tanzania (BoT) said annual growth of the private sector credit was 6.8 per cent in August, higher than 5.5 per cent in June and July this year.<\/p>\n

\u201cPrivate sector credit growth was strong, notwithstanding challenges on global supply chains attributable to Covid-19,\u201d BoT said in its Monetary Policy Committee (MPC) statement.<\/p>\n

The MPC maintained the view that the private sector credit growth will grow by 11.6 per cent in 2020\/21, as projected, given the supportive monetary condition and resumption of economic activities.<\/p>\n

\u201cThe banking sector remained sound, stable and resilient, with enough liquidity and adequate capital to support economic activities,\u201d the central bank said.<\/p>\n

The MPC observed that external sector developments were becoming increasingly stable, as more countries were abandoning the Covid-19 lockdowns and opening up global economic interactions.<\/p>\n

\u201cThe global growth is projected to improve in the remainder of 2020, as most countries progressively lift restrictions associated with the pandemic,\u201d the MPC statement said.<\/p>\n

The central bank said economic activities which contributed greatly to the GDP growth in the past five years were construction, agriculture, mining, quarrying and transportation activities.<\/p>\n

These achievements are strongly associated with public investments and crop production owing to favorable weather, stability of power supply and prudent policies.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: THE interbank rate rose by 2 basis points (bps) to 4.0 per cent in seven days to last Friday, pushed up by an uptake in loans from the public. The weekly rise, according to some analysts, was the result of volume growth band for the fourth consecutive week. The Orbit Securities Limited said in […]<\/p>\n","protected":false},"author":84,"featured_media":4983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,6191],"class_list":["post-16713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-bot","tag-ibcm"],"yoast_head":"\nINTERBANK RATES UP BY 4 PC IN WEEK\u2019S TIME - Tanzania<\/title>\n<meta name=\"description\" content=\"THE interbank rate rose by 2 basis points (bps) to 4.0 per cent in seven days to last Friday, pushed up by an uptake in loans from the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INTERBANK RATES UP BY 4 PC IN WEEK\u2019S TIME\" \/>\n<meta property=\"og:description\" content=\"THE interbank rate rose by 2 basis points (bps) to 4.0 per cent in seven days to last Friday, pushed up by an uptake in loans from the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-13T19:06:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/03\/804219e666c81a15048029c227b109db.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"INTERBANK RATES UP BY 4 PC IN WEEK\u2019S TIME\",\"datePublished\":\"2020-10-13T19:06:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time\"},\"wordCount\":361,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/03\/804219e666c81a15048029c227b109db.jpg\",\"keywords\":[\"BoT\",\"IBCM\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/interbank-rates-up-by-4-pc-in-weeks-time\",\"name\":\"INTERBANK RATES UP BY 4 PC IN WEEK\u2019S TIME - 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