Press release of the BCT Executive Board meeting held on 28 September 2016

Press release of the BCT Executive Board

meeting held on 28 September 2016

During its periodic meeting held on 28 September 2016, the Board examined the overall points planned in its agenda, notably recent developments of the international economic situation and analysis of the main economic, monetary and financial indicators; as well as the main trends in the national economic situation, further to follow up of the indicators of evolution for the banking sector, liquidity and transactions on the money market and the foreign exchange market.

In this regard, the Board noted that the national economic situation and the financial balances continue to face up sharp pressures despite signs of relative improvement in manufacturing industries and services sectors, further to maintaining of inflation at an acceptable level, and this according to data available at end August of the current year.

In this context marked by weak growth at a rate that did not go beyond 1.2% over the first half of the year, the current deficit stood at a high level, though slightly down from one year to the next. This is likely to negatively affect foreign currency reserves, trend in the dinar exchange rate as well as the bank liquidity (influenced partly by trend in financing needs expressed by both the public and the private sectors), but also the Central Bank intervention to tune the money market.

The Board discussed in particular the activity related to foreign currency reserves? management and foreign exchange rate policy, as well as set up of a rating system of banks and financial institutions by the Central Bank. It examined also a draft circular to banks and financial institutions providing for counterparts? rating system.

After deliberations, the Board decided to keep unchanged the key interest rate of the Central Bank of Tunisia.

 (For further data on the economic and financial situation, please refer to the Central Bank of Tunisia web site: