{"id":46038,"date":"2022-01-25T17:04:10","date_gmt":"2022-01-25T17:04:10","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=46038"},"modified":"2022-01-25T15:02:22","modified_gmt":"2022-01-25T15:02:22","slug":"overall-average-lending-rates-fall","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/overall-average-lending-rates-fall","title":{"rendered":"Overall average lending rates fall"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>The overall lending rates declined to 16.40 per cent in the period ending November last year down from 16.65 per cent recorded in the preceding month and 16.61 per cent in the corresponding period 2020.<\/p>\n

The Bank of Tanzania (BoT) monthly economic review for December last year shows that the negotiated lending rates charged to prime customers remained unchanged at around 14 per cent.<\/p>\n

According to the BoT report, banks\u2019 interest rates on deposits increased slightly in November last year with an overall deposit interest rate averaging at 6.80 per cent compared with 6.64 per cent and 6.74 per cent recorded in October last year and November 2020, respectively.<\/p>\n

Meanwhile, the negotiated deposits rate for prime customers remained unchanged, averaging 9.78 per cent in November last year.<\/p>\n

During the reference period, the credit extended to the private sector continued to recover, growing by 7.8 per cent in the year ending December last year compared to 5.2 per cent in the corresponding period of 2020.<\/p>\n

According to the Bank of Tanzania (BoT) monthly economic review for December last year, the sustained recovery of growth of credit to the private sector is largely attributed to accommodative monetary conditions as well as ongoing initiatives by the government to improve the business environment.<\/p>\n

The domestic credit by the banking system, extended to the private sector and central government, grew at an annual rate of 13.5 per cent in November last year compared with 12.5 per cent in November 2020.<\/p>\n

The growth of credit to the private sector is expected to continue to maintain an upward trend towards the target of 10.6 per cent set for 2021\/22, supported by the implementation of policy measures recently rolled out by the Central Bank to foster credit growth and lowering of lending rates, the continued recovery of the global economy and sustained accommodative monetary policy.<\/p>\n

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

Africa-Press – Tanzania. The overall lending rates declined to 16.40 per cent in the period ending November last year down from 16.65 per cent recorded in the preceding month and 16.61 per cent in the corresponding period 2020. The Bank of Tanzania (BoT) monthly economic review for December last year shows that the negotiated lending […]<\/p>\n","protected":false},"author":84,"featured_media":46037,"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-46038","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":"\nOverall average lending rates fall - Tanzania<\/title>\n<meta name=\"description\" content=\"The overall lending rates declined to 16.40 per cent in the period ending November last year down from 16.65 per cent re ...\" \/>\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\/overall-average-lending-rates-fall\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Overall average lending rates fall\" \/>\n<meta property=\"og:description\" content=\"The overall lending rates declined to 16.40 per cent in the period ending November last year down from 16.65 per cent re ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/overall-average-lending-rates-fall\" \/>\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=\"2022-01-25T17:04:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2022\/01\/img-61f010e398ede.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1800\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\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\/overall-average-lending-rates-fall#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/overall-average-lending-rates-fall\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Overall average lending rates fall\",\"datePublished\":\"2022-01-25T17:04:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/overall-average-lending-rates-fall\"},\"wordCount\":306,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/overall-average-lending-rates-fall#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2022\/01\/img-61f010e398ede.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\/overall-average-lending-rates-fall#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/overall-average-lending-rates-fall\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/overall-average-lending-rates-fall\",\"name\":\"Overall average lending rates fall - 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