The Bank of Tanzania (BoT) will continue pursuing prudent monetary policies to safeguard macroeconomic stability, maintain inflation within the target range of 3 to 5 percent and ensure adequate liquidity to support private sector growth, Governor Emmanuel Tutuba has said.
Speaking after touring the Bank's pavilion at the 50th Dar es Salaam International Trade Fair (Sabasaba), Mr Tutuba said the central bank remains focused on preserving economic stability amid evolving domestic and global economic conditions.
He said the fair has provided an important platform for engaging the public on monetary policy, financial sector regulation and the Bank's role in supporting Tanzania's economic development.
"We have seen growing public interest in understanding how the Bank of Tanzania manages the economy, particularly the Central Bank Rate, which currently stands at 6.25 percent. Our assessment is that this rate will continue to keep inflation under control, improve liquidity in the banking sector and support increased lending to the private sector," he said.
Mr Tutuba noted that the Bank expects the Tanzanian shilling to remain stable, especially during the harvest season, enabling farmers to receive better prices for their produce while improving the competitiveness of Tanzanian exports.
He also disclosed that BoT is finalising legislation and regulations to govern digital assets, including cryptocurrencies such as Bitcoin and stablecoins, as part of efforts to strengthen oversight of emerging financial technologies.
According to him, the proposed legal framework is designed to protect consumers of financial services while preventing the misuse of digital assets for money laundering and terrorist financing.
He said the framework is being developed in line with international best practices following the Bank's participation in global discussions on digital asset regulation.
Mr Tutuba said the Sema na BoT complaint resolution system has significantly reduced complaints from financial services users, adding that the Bank is enhancing the platform to make it accessible to citizens with limited access to digital technology.
He encouraged visitors to the Sabasaba exhibition to use the opportunity to learn more about financial services and improve their financial knowledge to support business growth and informed economic decision-making.
Reflecting on the Bank's 60th anniversary, Mr Tutuba said BoT has achieved significant milestones in maintaining macroeconomic stability, strengthening banking sector supervision, modernising payment systems, promoting financial literacy and expanding financial inclusion.
He said these achievements have reinforced Tanzania's reputation as a country with a stable economy and a resilient financial system capable of attracting both domestic and foreign investment.
