Tunisia Central Bank Cuts Key Rate in Bid to Boost Growth

Tunisia cut its benchmark interest rate for the second time this year as the North African nation attempts to boost weak economic growth rates.

The board of directors of Banque Centrale de Tunisie decided late on Tuesday to cut the key interest rate by 50 basis points, to 7%. The overnight lending and deposit rates were also reduced to 8% and 6%, respectively. The rate changes take effect on Jan. 7, the regulator said in a statement.