Zimbabwean central bank cuts rates and attempts currency controls

Reserve Bank of Zimbabwe
Harare skyline, including the Reserve Bank of Zimbabwe tower in the centre
Photo: Baynham Goredema

Zimbabwe’s central bank drastically cut its policy rate and issued new foreign exchange restrictions in its latest attempt to deal with the country’s economic crisis.

The Reserve Bank of Zimbabwe lowered its “bank policy rate” by 10 percentage points, from 25% to 15%, it announced on April 29, with effect from May 1. In an unscheduled meeting in March, the RBZ cut the rate, also known as the overnight lending rate, by 10 percentage points to 25%. That followed a startling 35 percentage point

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 [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: