Tunis/Tunisia — The average money market rate (MMR) maintained its upward trend to stand at 7.96% in January 2023, against 7.26% in December 2022, according to data published Wednesday by the Central Bank of Tunisia (BCT).

The MMR stood at 6.19% and 6.15%, respectively, in January 2022 and January 2021.

 This rise is explained by the decision taken by the BCT Executive Board on December 30, 2022, to raise the key rate by 75 basis points to 8%.

The goal, according to the BCT, was to "contribute to curbing the upward trend of inflation, bringing it down to sustainable levels in the medium term, in order to protect the citizens' purchasing power, preserve the stock of foreign exchange assets and foster the conditions for a healthy and sustainable economic recovery."