The Bank of Tanzania mission is to maintain price stability that is conducive to the attainment of financial and macroeconomic stability, with objective of promoting a high and sustainable rate of growth.

In conducting monetary policy, the Bank of Tanzania seeks to achieve the following specific goals: • A gradual and acceptable rate of increase in the money supply, which will bring about price stability and meet the demands of the economy; • A rate of increase in domestic bank credit which is consistent with the monetary policy objectives; • Market determined interest rates; • A level of official foreign reserves sufficient to enable the country to meet import requirements, and external payment obligations for a comfortable period of time, during the unexpected balance of payments difficulties; • Market determined exchange rates that are consistent with macroeconomic fundamentals; and • Consolidate and maintain stability in the banking and financial system, through effective enforcement of prudential regulations, promoting well functioning financial markets and an efficient national payments system.

Tuesday 10 October 2006