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Wednesday 1 February 2023
HomeNewsTunisia: overnight MMR rises to 7.97% following increase in BCT's key rate

Tunisia: overnight MMR rises to 7.97% following increase in BCT’s key rate

Following the entry into force of the decision taken by the Executive Board of the Central Bank of Tunisia (BCT) on December 30, 2022 to raise the bank’s key rate by 75 basis points to 8%, the overnight money market rate (MMR), in turn, rose Monday to 7.97% against 7.26% last Friday.

The overnight MMR is the rate at which banks borrow and lend money to each other in 24 hours.

Moreover, following the increase in the key rate, deposit and marginal lending facilities were raised to 7% and 9% respectively.

The BCT’s concern to curb inflation has motivated a proactive action by tightening monetary policy based on the interest rate as a preferred instrument for better allocation of financial resources.

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