{"id":41722,"date":"2021-11-25T15:49:09","date_gmt":"2021-11-25T15:49:09","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=41722"},"modified":"2021-11-25T14:52:19","modified_gmt":"2021-11-25T14:52:19","slug":"banks-moves-to-lower-interest-rates","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/banks-moves-to-lower-interest-rates","title":{"rendered":"Banks moves to lower interest rates"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>Tanzania Bankers Association (TBA) has said some banks after a thorough simulation will start lowering lending interest in near future.<\/p>\n

TBA Charman Abdulmajid Nsekela told the 20th Conference of Financial Sector (COFI) that the banking sector as part of the society wants the market to have affordable interest rates to push the economy forward.<\/p>\n

“After simulation the banks now are ready to lower interest rates…in coming days you will see some start lowering the rates,” Mr Nsekela, who is also a CRDB Bank managing director, said today 25, November 2021.<\/p>\n

The Chairman though did not said the percentage to be lowered but promised President Samia Suluhu Hassan, who is a chief guest of COFI, that banks will start doing so.<\/p>\n

BoT Governor Prof Florens Luoga said after some central bank monetary interventions they expecting financial institutions to also lower market interest rates as well.<\/p>\n

” (BoT) have made a number of policy interventions we want loans, especially to agriculture to be less than 10 per cent,” Prof Luoga said.<\/p>\n

Some of the interventions are like lower statutory minimum reserves form 7.0 to 6.0 per cent last July.<\/p>\n

BoT also set aside some 1.0tri\/- fund that is loaned to commercial banks at 3.0per cent for enabling them to lend agricultural processingredients project ta less than 10 per cent.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. Tanzania Bankers Association (TBA) has said some banks after a thorough simulation will start lowering lending interest in near future. TBA Charman Abdulmajid Nsekela told the 20th Conference of Financial Sector (COFI) that the banking sector as part of the society wants the market to have affordable interest rates to push the […]<\/p>\n","protected":false},"author":84,"featured_media":41721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8,16],"tags":[6990,6991,711],"class_list":["post-41722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nBanks moves to lower interest rates - Tanzania<\/title>\n<meta name=\"description\" content=\"Tanzania Bankers Association (TBA) has said some banks after a thorough simulation will start lowering lending interest ...\" \/>\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\/banks-moves-to-lower-interest-rates\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks moves to lower interest rates\" \/>\n<meta property=\"og:description\" content=\"Tanzania Bankers Association (TBA) has said some banks after a thorough simulation will start lowering lending interest ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/banks-moves-to-lower-interest-rates\" \/>\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=\"2021-11-25T15:49:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/11\/img-619fa30e996e3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\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=\"1 minute\" \/>\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\/banks-moves-to-lower-interest-rates#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/banks-moves-to-lower-interest-rates\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Banks moves to lower interest rates\",\"datePublished\":\"2021-11-25T15:49:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/banks-moves-to-lower-interest-rates\"},\"wordCount\":230,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/banks-moves-to-lower-interest-rates#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/11\/img-619fa30e996e3.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"community\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/banks-moves-to-lower-interest-rates#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/banks-moves-to-lower-interest-rates\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/banks-moves-to-lower-interest-rates\",\"name\":\"Banks moves to lower interest rates - 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