monetary policy and financial stability statement...13.50% 3yr 5yr 7yr 10yr 15yr 20yr bond yc as end...
TRANSCRIPT
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1Monetary Policy and Financial Stability Statement, 25th February 2020
NATIONAL BANK OF RWANDABANKI NKURU Y’U RWANDA
MONETARY POLICY AND FINANCIAL STABILITY STATEMENT
28th August 2020
MPFSS, A
ugust 2020
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MONETARY POLICY AND FINANCIAL STABILITY STATEMENT
28th August 2020
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Monetary Policy and Financial Stability Statement, 28th August 2020
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Monetary Policy and Financial Stability Statement, 28th August 2020
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30.00
40.00
50.00
60.00
70.00
80.00
90.00
100.00
110.00
2015
M02
2015
M04
2015
M06
2015
M08
2015
M10
2015
M12
2016
M02
2016
M04
2016
M06
2016
M08
2016
M10
2016
M12
2017
M02
2017
M04
2017
M06
2017
M08
2017
M10
2017
M12
2018
M02
2018
M04
2018
M06
2018
M08
2018
M10
2018
M12
2019
M02
2019
M04
2019
M06
2019
M08
2019
M10
2019
M12
2020
M02
2020
M04
2020
M06
Energy Non-energy Agriculture 93.67 Fertilizers 101.39 Metals & Minerals 73.85
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20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00
100.00
110.00
120.00
2014
M02
2014
M04
2014
M06
2014
M08
2014
M10
2014
M12
2015
M02
2015
M04
2015
M06
2015
M08
2015
M10
2015
M12
2016
M02
2016
M04
2016
M06
2016
M08
2016
M10
2016
M12
2017
M02
2017
M04
2017
M06
2017
M08
2017
M10
2017
M12
2018
M02
2018
M04
2018
M06
2018
M08
2018
M10
2018
M12
2019
M02
2019
M04
2019
M06
2019
M08
2019
M10
2019
M12
2020
M02
2020
M04
2020
M06
Crude oil, average Crude oil, Brent Crude oil, WTI
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Exports Value in USD millions 108.3 132.7 98.4 125.3 108.9 58.0 26.1
Percent change 0.7 12.6 -25.8 27.3 -13.1 -8.1 -55.1
Share of total exports 16.2 18.1 9.5 11.2 8.8 10.7 4.4
Imports Value in USD millions 21.7 30.6 23.3 20.3 11.8 6.8 2.1
Percent change 13.4 40.0 -23.9 -12.8 -41.7 -40.0 -68.7
Share of total imports 0.9 1.4 1.0 0.8 0.4 0.5 0.1
Trade balance 86.5 91.4 75.1 105.0 97.1 51.3 24.0
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-1.0
1.0
3.0
5.0
7.0
9.0
Headline Core
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-10.0-5.00.05.0
10.015.020.0
Contributors to Energy Inflation
Water expenses Electricity expenses Gas (propane) Solid fuels
Diesel (fuel) Petrol (fuel) Disrepancies Energy inflation
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Source: Financial Markets Department
242150
445 281466
268
679
338
1,665
676647
258
1,295
411
0200400600800
1,0001,2001,4001,6001,800
Volume in FRW bn Number of transactions2015 2016 2017 2018 2019 Jan - June 2019 Jan - June 2020
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11.15%11.30%
11.65%
12.25%
12.70%
10.65%
11.20%11.45%
12.15%
12.50%
13.20%
10.50%
11.00%
11.50%
12.00%
12.50%
13.00%
13.50%
3yr 5yr 7yr 10yr 15yr 20yr
Bond YC as End June 2019 Bond YC as End June 2020
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Source: Rwanda Stock Exchange
30
99
179 187
275
0.0
5.0
10.0
15.0
20.0
25.0
050
100150200250300
2015 2016 2017 2018 2019
No of deals Turnovers in billion
130
200
6.2
12.1
0.0
5.0
10.0
15.0
20.0
25.0
0
50
100
150
200
250
300
Jan-June 2019 Jan-June 2020No of deals Turnovers in billion
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18.3
-2.4 -3.3
36.8
-9.2
-30.0
-20.0
-10.0
0.0
10.0
20.0
30.0
40.0
50.0
2016 H1 2017 H1 2018 H1 2019 H1 2020 H1
Services provided to the community
OFI &Insurances and other non-financial services
Transport & warehousing &communication
Restaurant and hotel
Commerce
Public works and building
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Jun-19 2.2 2.0 1.6 4.8 1.8 2.2 2.6 -0.2
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5.7
-4.4
-15.0
-10.0
-5.0
0.0
5.0
10.0
15.0
Mar
-17
Apr-
17M
ay-1
7Ju
n-17
Jul-1
7Au
g-17
Sep-
17O
ct-1
7No
v-17
Dec-
17Ja
n-18
Feb-
18M
ar-1
8Ap
r-18
May
-18
Jun-
18Ju
l-18
Aug-
18Se
p-18
Oct
-18
Nov-
18De
c-18
Jan-
19Fe
b-19
Mar
-19
Apr-
19M
ay-1
9Ju
n-19
Jul-1
9Au
g-19
Sep-
19O
ct-1
9No
v-19
Dec-
19Ja
n-20
Feb-
20M
ar-2
0Ap
r-20
May
-20
Jun-
20NEER (YoY % change) Weighted Foreign CPI (YoY % change)Rwanda CPI (YoY % change) REER (YoY % change)
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32.0
20.022.0
26.5
22.0 21.0
24.0
20.020.0
25.0 25.524.5
19.0
15.0
19.3
24.5
22.025.0
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2019 2020
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1
1
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2
2 Other service includes loans to education, health sector and public administration
69 | P a g e
2
2 Other service includes loans to education, health sector and public administration
69 | P a g e
2
2 Other service includes loans to education, health sector and public administration
69 | P a g e
2
2 Other service includes loans to education, health sector and public administration
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±
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─
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2019 H1 2020 H1 % Change
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__________________________________________________________________________________
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Monetary Policy and Financial Stability Statement, 28th August 20208880 Monetary Policy and Financial Stability Statement, 25th February 2020
National Bank of RwandaKN 6 AV.4,
PO Box 531 Kigali, RwandaTel:(+250) 788 199 000
Email:[email protected]:BNRWRWRWTwitter:@CentralBankRw
Website:www.bnr.rw