For the third consecutive month, Tunisia’s benchmark money market rate (MMR) has remained perfectly stable, extending a cautious monetary policy stance into the spring.
According to official figures released by the Central Bank of Tunisia (BCT), the average monthly money market rate (MMR) stood at 6.99% in April 2026. This marks three straight months at that level, following a slight dip from 7.08% recorded in January.
A Cautious status quo
The MMR’s persistence just below the symbolic 7% threshold reflects the BCT board’s decision to leave its key policy rate unchanged at its most recent meeting on March 30.
The central bank’s strategy seeks to strike a delicate balance between two major imperatives: keeping rates high enough to curb consumer price inflation, while avoiding a surge in the cost of credit that would further paralyze businesses and household consumption.
A Double-edged sword for Tunisians
For ordinary Tunisians, the rate stability is a double-edged sword. On one hand, it prevents an immediate increase in monthly payments tied to variable-rate loans. On the other, it keeps borrowing costs near historically high levels, continuing to weigh on purchasing power across the country.
