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| Coffee beans washing station, Kigali. |
KIGALI - Rwanda's
year-on-year inflation rate will not exceed 8 percent in November and
will remain in single digits at year-end, the central bank governor said
on Monday.
"Inflation in the region is coming down. We are seeing signs of
the economy rebounding," Claver Gatete, governor of the National Bank of
Rwanda, told reporters.
"In the case of Rwanda, the last figure that we have is for
October which is 7.8 percent. And we believe that that figure for
(November) will not exceed 8 percent.
"And by the end of the year it will still remain in single digits, with the economy growing by 8.8 percent," Gatete said.
Rwanda has fared better than its east African neighbours,
including Kenya, Uganda and Burundi where surging food and fuel prices
have helped drive inflation well into double digits.
The central African nation raised its key lending rate last month
to 7 percent from 6.5 percent to prevent the rising inflationary
pressures in the region hurting its economy.
That increase was the second 50 basis point rise since early
October and followed higher than expected economic growth and inflation
forecasts.
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