DAR ES SALAAM, July 23 -- PRIVATE sector credit grew by 15.1 per cent in ten months to April, down from 18.4 per cent in the same period earlier, reflecting tighter monetary policy to curb inflation from the shillings depreciation.

The statement is part of the latest Monetary Policy Statement released by the Bank of Tanzania.

By tightening monetary policy to contain inflation, the central bank aims to stabilise prices, support sustainable economic growth and foster a predictable environment for consumers and investors alike.

The ratio of private sector credit to GDP, an indicator of financial deepening, increased to 19.5 per cent from 16.9 per cent, driven by improving business conditions, supportive monetary and fiscal policies and co...