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Business

Tunisia central bank keeps key interest rate unchanged at 6.75pc

Last month, the bank cut the rate by 100 basis points in response to the coronavirus outbreak, its first cut since
10 Apr 2020
  • Last month, the bank cut the rate by 100 basis points in response to the coronavirus outbreak, its first cut since 2011.
  • The bank said it expected the economy to shrink this year as a result of the severe impact of the outbreak.

TUNIS: Tunisia's central bank kept its key interest rate unchanged at 6.75% on Friday, the bank said.

Last month, the bank cut the rate by 100 basis points in response to the coronavirus outbreak, its first cut since 2011.

The bank said it expected the economy to shrink this year as a result of the severe impact of the outbreak, especially on the tourism sector, which represents nearly 10% of gross domestic product.

Tunisia has confirmed 643 cases of the virus and 25 deaths.

 

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