BoB leaves interest rates unchanged

source: Mmegi

Although inflation is expected to rise in the short-term due to tax and power tariff increases, the Bank of Botswana (BoB) has once again left interest rates unchanged.

In February, BoB left its main lending rate steady at 10 percent, saying longer-term inflation was seen under control while economic growth remained weak.

In an e-mailed statement, BoB spokesman Chepete Chepete says the Monetary Policy Committee (MPC) met on Tuesday and decided to again leave the bank rate unchanged at 10 percent because the current state of the economy and the assumptions on both the domestic and external economic outlook, as well as the inflation forecast, suggest that “maintaining the prevailing interest rates is [continue reading]

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