BoB Cuts Bank Rate – Again

30 April, 2009 in Botswana, Business

source: The Botswana Gazette
Written by JFG
Wednesday, 29 April 2009

The Bank of Botswana (BoB) has reduced interest rates for the second time in four months to bolster an underperforming economy.
The central bank announced last week that it had decided to reduce the bank rate by one percent, from 14 percent to 13 percent. The 100 basis points cut adds to the 150 points worth of reductions since December last year. The interest rate cut also comes at a time when inflation is on a downward trend. In March inflation was steady at 11.7 percent because of food prices which remained high.
BoB has reiterated that it remains committed to responding appropriately to all economic and financial developments to maintain inflation within the medium term objective range, which contributes to long run sustainable economic growth.

A statement from the central bank say: “The constant inflation between February and March 2009 reflects offsetting movements for [continue reading]

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