{"id":8554,"date":"2020-05-12T16:18:18","date_gmt":"2020-05-12T16:18:18","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=8554"},"modified":"2020-05-12T16:18:18","modified_gmt":"2020-05-12T16:18:18","slug":"central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates","title":{"rendered":"CENTRAL BANK SLASHES DISCOUNT RATE: WILL COMMERCIAL BANKS LOWER LENDING RATES?"},"content":{"rendered":"
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AfricaPress-Tanzania:<\/strong> THE Central Bank of Tanzania (BOT) has cut down discount rate by 2 percent, from 7 percent to 5 per cent with effective from today (May 12, 2020) as an initiative to curb negative consequences cause by the global pandemic Covid-19.<\/p>\n

The measure, according to BOT\u2019s press statement issued today, will enable commercial banks to borrow from the lender of the last resort at a lower cost, something that will have a trickle-down to their respective customers.<\/p>\n

BOT\u2019s Monetary Policy Committee met on 8th<\/sup>\u00a0May, 2020 and approved various policy measures geared to safeguard the financial sector in the country after \u201ca thorough assessment of impact on a various sector.\u201d<\/p>\n

The committee also approved the reduction of \u201chaircuts on government securities from 10 per cent to 5 per cent for Treasury bills and 40 per cent to 20 per cent for Treasury bonds with effective from 12th<\/sup>\u00a0May, 2020.\u201d<\/p>\n

According to the press statement, the measure is expected to increase the ability of banks to borrow from BOT with less collateral \u201cthan before.\u201d<\/p>\n

Moreover, BOT has instructed mobile money operators to increase daily transaction limit from 3m\/- to 5m- and daily balance from 5m\/- to 10m\/- in order to encourage customers to use digital payment platforms for transactions.<\/p>\n<\/div>\n

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AfricaPress-Tanzania: THE Central Bank of Tanzania (BOT) has cut down discount rate by 2 percent, from 7 percent to 5 per cent with effective from today (May 12, 2020) as an initiative to curb negative consequences cause by the global pandemic Covid-19. The measure, according to BOT\u2019s press statement issued today, will enable commercial banks […]<\/p>\n","protected":false},"author":84,"featured_media":8543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,1059],"class_list":["post-8554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-bot","tag-lending-rates"],"yoast_head":"\nCENTRAL BANK SLASHES DISCOUNT RATE: WILL COMMERCIAL BANKS LOWER LENDING RATES? - Tanzania<\/title>\n<meta name=\"description\" content=\"THE Central Bank of Tanzania (BOT) has cut down discount rate by 2 percent, from 7 percent to 5 per cent with effective from today (May 12, 2020) as an\" \/>\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\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CENTRAL BANK SLASHES DISCOUNT RATE: WILL COMMERCIAL BANKS LOWER LENDING RATES?\" \/>\n<meta property=\"og:description\" content=\"THE Central Bank of Tanzania (BOT) has cut down discount rate by 2 percent, from 7 percent to 5 per cent with effective from today (May 12, 2020) as an\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-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=\"2020-05-12T16:18:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/05\/bf14fd148d15982ff60c50e010535442.png\" \/>\n\t<meta property=\"og:image:width\" content=\"598\" \/>\n\t<meta property=\"og:image:height\" content=\"391\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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\/economy\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CENTRAL BANK SLASHES DISCOUNT RATE: WILL COMMERCIAL BANKS LOWER LENDING RATES?\",\"datePublished\":\"2020-05-12T16:18:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates\"},\"wordCount\":214,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/05\/bf14fd148d15982ff60c50e010535442.png\",\"keywords\":[\"BoT\",\"lending rates\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/central-bank-slashes-discount-rate-will-commercial-banks-lower-lending-rates\",\"name\":\"CENTRAL BANK SLASHES DISCOUNT RATE: WILL COMMERCIAL BANKS LOWER LENDING RATES? 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