Summary:

On 11 February 2026, the Central Bank of Tunisia (BCT) announced plans to keep its key interest rate unchanged at 7.0%, following a meeting of the BCT Board of Directors. 

According to the BCT, inflation eased to 4.8% in January 2026, down from 4.9% at the end of 2025, mainly due to the freeze on administered prices and slower food price increases. However, core inflation rose to 4.9%, compared to 4.3% in September 2025. 

The BCT also reported that the current account deficit widened in 2025 to 4,350 million dinars (-2.5% of GDP), up from -1.6% the previous year, largely driven by a higher trade deficit, despite support from tourism revenues and remittances. 

As of 10 February 2026, foreign exchange reserves stood at 25.8 billion dinars, covering 109 days of imports, compared to 102 days one year earlier. 

The decision comes amid a global environment marked by economic uncertainty, where several major central banks have similarly opted to leave their policy rates unchanged. 

Outlook: 

While headline inflation shows signs of easing and reserves remain resilient, the BCT’s decision to maintain its key rate at 7.0% reflects a cautious approach to policymaking in a fragile economic context. While some positive signals have been recorded, the Tunisian economy remains vulnerable to potential shocks or unforeseen disruptions to the global economy. 

This latest BCT decision aims to anchor inflation expectations and prevent underlying price pressures from escalating, while managing ongoing vulnerabilities in the current account and fiscal balances. The policy also signals a strategic effort to support a fragile economic environment and preserve investor confidence, which remains critical for Tunisia’s growth and external financing. 

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