Bank of Botswana delivers first rate cut since 2010

pula-botswana

The Bank of Botswana slashed its benchmark interest rate by 50 basis points to 9% yesterday, the first change in almost two and a half years.

The cut is intended to "reignite" the country's "below potential" output growth and rein in the high unemployment rate, which IMF estimates put at 3.8% and 18% respectively.

However, inflation increased to 7.6% in March, up from 7.5% in February and the latest peak in a steady upward trend since September.

Prices have increased at above the central bank's

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