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Tunisia holds interest rate at 5.25%  Join our daily free Newsletter

MENAFN - 26/11/2008

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(MENAFN) The Central Bank of Tunisia said, after a monthly policy meeting, that it will hold its interest rates steady amid the current circumstances, adding that the financial downturn had a little impact on the country, Reuters reported.

The Central Bank's current main interest rate remained at 5.25 percent. It added in a statement that the country's inflation rate rose from 4.3 percent in September of 2007 to 4.5 percent this year, and there were excess liquidity in the money market but it kept rates on hold to ensure companies had access to capital.

Although the country's banks had not been affected by the hit of the global financial crisis, some sectors need to be supervised and monitored such as textiles, mechanical and electrical industries and tourism, since Tunisia relies on exports of manufactured goods and services, mostly to the European Union.

The government forecasts a drop of inflation rate from 5 percent this year to 3.5 percent next year, and a gross domestic product growth of 5 percent, down from 5.1 percent.

 






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