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Tunisia: overnight MMR falls to its lowest level since March 2018

Following the entry into force of the decision taken by the Central Bank of Tunisia (BCT) to lower its key interest rate by 50 basis points to 6.25%, the overnight money market rate (MMR) fell to 6.30% at the end of the day on Wednesday, October 7, 2020, its lowest level since March 2018.

It should be recalled that the BCT has deemed it necessary to continue to strengthen monetary support for the nascent economic recovery, deciding to reduce its key rates by 50 basis points to 6.25% for the main refinancing operations, 5.25% for the overnight deposit facility and 7.25% for the marginal lending facility.

This decision should support the easing of monetary policy adopted since the onset of the health crisis.

This reduction in the key interest rate should also ease the financial burden of loans granted to companies and households, enabling them to maintain their solvency and thus contribute to financial stability.

On the other hand, it should support domestic demand with prospects of a recovery in consumer demand.

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