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Tunisia: BCT keeps key interest rate unchanged

At its regular meeting held on 27 July 2016 the Executive Board of the Central Bank of Tunisia decided to keep the bank’s key rate unchanged, the BCT said in a statement.

During this meeting, the Board reviewed all the points that revolve around recent developments in the international economic situation and analysis of key economic, monetary and financial indicators as well as key changes in the economic situation at the national level, besides monitoring indicators of changes in the activity of the banking sector, liquidity and transactions on the money market and the foreign exchange market, reads the statement.

The Council discussed, in particular, a draft circular amending the circular to banks n ° 91-24 on risk coverage and monitoring of commitments to introduce new standards to cover operational risk and new limits on the related commitments.

The Board further considered the proposal of the Monetary Policy Committee which met on July 22, 2016 concerning the creation of a new benchmark interbank interest rate in Tunisia (TUNIBOR) and adopted this indicator, the distribution of which will be effective from September 1, 2016.

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