{"id":21394,"date":"2021-01-08T20:18:29","date_gmt":"2021-01-08T20:18:29","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=21394"},"modified":"2021-01-08T17:17:47","modified_gmt":"2021-01-08T17:17:47","slug":"repo-rate-slightly-heads-south-to-5-6pc","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/repo-rate-slightly-heads-south-to-5-6pc","title":{"rendered":"Repo rate slightly \u2018heads south\u2019 to 5.6pc"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>A REVERSE repurchase agreement (repo) rate has minutely decreased, but the amount is insignificant to encourage banks to sell back securities.<\/p>\n

The rate on average has gone down by 0.1 percentage point to 5.6 per cent in last November compared to 5.7 per cent registered in October.<\/p>\n

According to the Bank of Tanzania (BoT) latest monthly economic review, reverse repo worth 327.5bn\/- was auctioned, compared to 462.9bn\/- in the preceding month.<\/p>\n

\u201cThe Bank of Tanzania continued to conduct reverse the repurchase agreement to moderate a short-term liquidity position of banks,\u201d the report shows. A decrease in repo rates encourages banks to sell securities back to the government in return for cash. \u201cThis increases the money supply available to the general economy,\u201d a money market analyst told the \u2018Daily News\u2019.<\/p>\n

Conversely, by increasing repo rates, central banks can effectively decrease the money supply by discouraging banks from reselling these securities.<\/p>\n

Thus, extended broad money supply (M3) increased by 1.456tri\/- in the year ending November, while broad money supply (M2) grew by 8.7 per cent compared to 10.7 per cent.<\/p>\n

\u201cThe monetary policy stance remained accommodative, driven largely by a need to improve credit flows to the private sector to support higher growth in the economy,\u201d the central bank report says.<\/p>\n

The increase in M3 translated into the annual growth rate of 5.2 per cent, compared to 5.9 per cent registered in the year ending October.<\/p>\n

\u201cThe growth of money supply was largely contributed by an increase in domestic credit,\u201d BoT says.<\/p>\n

The domestic credit by the banking system recorded the annual growth of 20 per cent in November compared to 15.4 per cent in October the same year.<\/p>\n

Credit extended to the central government through purchases of government securities grew by 49.6 per cent in the year ending November compared to the annual growth of 39.1 per cent in the October.<\/p>\n

Bank credit extended to the private sector increased by 1.001tri\/-, equivalent to the annual growth of 5.2 per cent, compared to 4.9 per cent in October.<\/p>\n

Credit to the private sector was more prominent in personal activities\u2014largely micro, small and medium enterprises\u2014transport, communications, hotels and restaurants.<\/p>\n

The private sector credit to various economic activities shows that, personal activities held the largest share of the total outstanding credit (33.6 per cent) followed by trade and manufacturing activities accounting for 15.7 per cent and 9.9 per cent, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. A REVERSE repurchase agreement (repo) rate has minutely decreased, but the amount is insignificant to encourage banks to sell back securities. The rate on average has gone down by 0.1 percentage point to 5.6 per cent in last November compared to 5.7 per cent registered in October. According to the Bank of […]<\/p>\n","protected":false},"author":84,"featured_media":21393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-21394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nRepo rate slightly \u2018heads south\u2019 to 5.6pc - Tanzania<\/title>\n<meta name=\"description\" content=\"A REVERSE repurchase agreement (repo) rate has minutely decreased, but the amount is insignificant to encourage banks to ...\" \/>\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\/all-news\/repo-rate-slightly-heads-south-to-5-6pc\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Repo rate slightly \u2018heads south\u2019 to 5.6pc\" \/>\n<meta property=\"og:description\" content=\"A REVERSE repurchase agreement (repo) rate has minutely decreased, but the amount is insignificant to encourage banks to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/repo-rate-slightly-heads-south-to-5-6pc\" \/>\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=\"2021-01-08T20:18:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/01\/img-5ff8939ce7e63.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"522\" \/>\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\/all-news\/repo-rate-slightly-heads-south-to-5-6pc#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/repo-rate-slightly-heads-south-to-5-6pc\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Repo rate slightly \u2018heads south\u2019 to 5.6pc\",\"datePublished\":\"2021-01-08T20:18:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/repo-rate-slightly-heads-south-to-5-6pc\"},\"wordCount\":396,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/repo-rate-slightly-heads-south-to-5-6pc#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/01\/img-5ff8939ce7e63.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/repo-rate-slightly-heads-south-to-5-6pc#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/repo-rate-slightly-heads-south-to-5-6pc\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/repo-rate-slightly-heads-south-to-5-6pc\",\"name\":\"Repo rate slightly \u2018heads south\u2019 to 5.6pc - 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