Zimbabwe reverses policy stance, slashing rates to 35%

Reserve Bank of Zimbabwe
Photo: Baynham Goredema

The Reserve Bank of Zimbabwe (RBZ) has cut its policy rate in half, bringing it to 35%, despite monthly inflation climbing near to 40%. 

At its monetary policy meeting on November 15, the central bank’s monetary policy committee (MPC) said its policy rate needed “review”.

“Notwithstanding a recent spike in monthly inflation to 38.8%, due to shocks caused mainly by adjustments of electricity and fuel prices, the inflation outlook is positive,” the committee said in a statement published on

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