Bank of Tanzania Primary Mission from the Bank of Tanzania Act, 2006 stipulates that this organization in its capacity as Tanzania's Central Bank is " ... to formulate and implement monetary policy, directed to the economic objective of maintaining price stability, conducive to a balanced and sustainable growth of the national economy of Tanzania".
The Act empowered the Bank of Tanzania to perform all the traditional central banking functions. However, within eight months of the inauguration of the Bank, in February 1967, the Arusha Declaration was proclaimed, and, with it, the Bank had to reorient its policies.
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