Botswana research weighs impact of various instruments on credit

Botswana banknote

Using interest rates to restrain credit growth is more effective than reserve requirements where the availability of loanable funds is not a constraint, according to an article published by the Bank of Botswana, but direct macro-prudential measures might be even better.

The article, published as part of the central bank's latest research bulletin on September 28, examines how credit growth can be affected by reserve requirements and monetary policy by using time-series simulations and panel data

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