Zimbabwe’s central bank hikes rates to 60%
Resurgent inflation pressures force inflation to 54% while exchange rate weakens
The Reserve Bank of Zimbabwe’s (RBZ) monetary policy committee (MPC) raised its policy rate from 40% to 60% on October 28, in an attempt to gain control over soaring inflation and stabilise the exchange rate.
“The measure is expected to result in positive real interest rates, which is critical to foster savings in the economy,” governor John Mangudya said in a statement.
The central bank last raised interest rates from 35% to 40% in February to try and control inflation, which has since risen
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- ECB says iPhone is currently incompatible with digital euro
- ‘Do I die, or do I survive?’ Officials reflect on Basel III complexity
- Supervisors grapple with the smaller bank dilemma