National Bank of Rwanda (NBR)

Guverineri Rwangombwa John arasobanura itandukaniro riri hagati yo kuzamuka kw'ibiciro n'umuvuduko wo kuzamuka kw'ibiciro. #MPFSS2024 #BNREngage #KnowYourCentralBank

Happening Now: The Monetary Policy and Financial Stability Statement (MPFSS) is live! Tune in for key insights on Rwanda’s economic outlook and financial sector growth. Don’t miss out! #MPFSS #BNREngage #KnowYourCentralBank

Join us for the Monetary Policy & Financial Stability Statement tomorrow, the 25th, at 9 AM for the latest insights on Rwanda's economic outlook! Don’t miss out! Watch live on YouTube: https://shorturl.at/3YOeS #MPFSS2024 #BNREngage #KnowYourCentralBank

Last week, Deputy Governor Soraya M. Hakuziyaremye received Inez Murray, CEO of the Financial Alliance for Women, for a courtesy call. Discussions focused on a potential partnership to support women-led businesses through the Women Entrepreneurs Finance Code (WE Finance Code) framework. #BNREngage   #KnowYourCentralBank

In the final part of our series, we chat with Tercy Nyabagabo, an economist in the Modelling and Forecasting Division at the National Bank of Rwanda, who shares how the Monetary Policy Challenge prepared him for his current role.💡 😃 1. What are your current responsibilities at the National Bank of Rwanda? -> I am currently an economist in the Modelling and Forecasting Division of the Research Department at the National Bank of Rwanda. My primary roles include undertaking research that contributes to the development of structural macroeconomic models, operating short-term micro/macro models for near-term inflation forecasts, and compiling periodic technical notes, reports, and policy briefs to inform policymakers on developments in key macroeconomic variables. 2. How did participating in the Monetary Policy Challenge prepare you for your daily responsibilities at work? -> The Monetary Policy Challenge provided hands-on experience in analyzing macroeconomic data, simulating policy scenarios, and presenting findings to a technical audience. These skills are crucial in my current role at the bank. The challenge's fast pace also trained me to meet deadlines, which is essential in a central banking environment. 3. Was transitioning from a young economist to a full-time staff member difficult? If so, how did you manage it? -> The transition from young economist to full-time economist was smooth. The Young Economist program gave me early exposure to meaningful tasks, which served as an ideal induction into macroeconomic analysis. This experience made stepping into a full-time role feel like a natural continuation, allowing me to build on the skills I had already developed. 4. What are your plans for the rest of the year? -> For the rest of the year, I plan to advance several ongoing research projects on topics like monetary policy and climate change. I also intend to take full advantage of the professional development opportunities at the bank to stay up to date with the latest advancements in my field. If you are inspired by Tercy's journey, be sure to apply and share with your community using this link: http://shorturl.at/W3LbR #BNREngage #KnowYourCentralBank

In the second part of our series, we explore the journey of Gisèle Murebwayire, a young economist at the National Bank of Rwanda, and how the Monetary Policy (MP) Challenge has shaped her career. 💡 😃 Hi Gisèle. How did you get to the National Bank of Rwanda?   -> It all started with the National Bank of Rwanda’s (BNR) monetary policy challenge I participated in last year. I was fortunate to be selected as one of the top three best students throughout the challenge and was awarded the opportunity to be part of the BNR’s Young Economists program. It was an incredible experience that opened doors for me and helped me learn so much more about our country’s economy and monetary policy in general. 2. How did you learn about the Monetary Policy Challenge?   -> I first heard about the Monetary Policy Challenge through a friend. He had participated the year prior and really enjoyed it, so he encouraged me to try it out. He shared his positive experience, which motivated me to give it a shot. 3. How did you prepare for the Monetary Policy Challenge?   -> Honestly, I wasn’t very familiar with the whole concept of monetary policy or what the NBR essentially does. So, I had to do a lot of research to get up to speed. I read the Monetary Policy Committee’s (MPC) reports, listened to The NBR Podcast, and tried to understand the basics of monetary policy. It was a lot of work, but it was also fascinating, and I learned a lot in the process. 4. What contributed to your success in the competition and helped you become a young economist at the National Bank of Rwanda?   -> I think it was a combination of different factors. Preparation was the most important part. I spent a lot of time learning and understanding monetary policy and how it works. I also had a great team throughout the competition. We supported each other and worked well together, which made a big difference. Staying dedicated and putting in the effort paid off. Motivated by Gisèle’s journey? Seize the opportunity and apply to the MP Challenge through this 🔗: https://shorturl.at/W3LbR #BNREngage #KnowYourCentralBank

We are pleased to announce that applications for the 5th edition of the Monetary Policy Challenge are now open until September 25th! Don’t miss this unique opportunity to put theory into practice and demonstrate your monetary policy skills. Apply Today👇🏽 https://shorturl.at/W3LbR #BNREngage #KnowYourCentralBank

Ever wondered what it’s like to participate in the Monetary Policy (MP) Challenge and what it has yielded for our participants? Meet Ivan Kamali, an Economist at the National Bank of Rwanda. 💡 😃 1. Hi Ivan. What inspired you to join the Monetary Policy Challenge? -> I joined the MP Challenge because I was a recent graduate at the time, perfectly fitting the target audience. Additionally, the rewards, including the chance to join the National Bank of Rwanda as a young Economist, were a strong incentive. It was a solid stepping stone for someone looking to start a career in economics. 2. What was your experience like in the MP Challenge? -> The thrill of competition, interacting with peers from different universities, and applying what I’d learned in school to real-life scenarios made it an enriching experience. Initially, working in a team of strangers was challenging due to coordination and task division. However, as we progressed, teamwork improved, and we developed a strong collaborative dynamic, which was crucial for reaching the final stages and ultimately winning the challenge. This experience significantly enhanced my teamwork skills. 3. How are you finding your time as a permanent staff member at NBR? -> As an economist starting my career, there’s no better place to begin than here. I’ve had numerous opportunities for capacity building and have been fortunate to work alongside colleagues who have not only guided me but have also served as invaluable mentors. It has been a fantastic learning experience, and I’m excited about the growth and opportunities ahead. 4. What advice would you give future participants of the MP Challenge? -> I’d encourage future participants to commit themselves wholeheartedly. Prepare thoroughly and stay adaptable, as the scenarios may test your creativity and problem-solving abilities in unexpected ways. Embrace the competition as a growth experience—each challenge will sharpen your skills and deepen your understanding of how Monetary Policy is formulated. It’s also a chance to network and build valuable connections, so take advantage of it. Inspired by Ivan’s story? Apply to the MP Challenge via this link: https://shorturl.at/W3LbR #BNREngage #KnowYourCentralBank

We are pleased to announce that applications for the 5th edition of the Monetary Policy Challenge are now open until September 25th! Don’t miss this unique opportunity to put theory into practice and demonstrate your monetary policy skills. Apply Today👇🏽 https://shorturl.at/W3LbR #BNREngage #KnowYourCentralBank

💡A Talk with an Expert! Dive into the evolution of Rwanda’s banknotes-new designs, updated features, and tips on avoiding counterfeits. Get the inside scoop on what’s new in our currency! #CurrencyUpdates #BNREngage #KnowYourCentralBank