Zimbabwe central bank raises policy rate to 200%

Finance minister guarantees use of US dollar through 2025, while RBZ will mint gold coins

Reserve Bank of Zimbabwe
Reserve Bank of Zimbabwe
Baynham Goredema

The Reserve Bank of Zimbabwe ordered a 12,000 basis point increase in the policy rate on June 27, taking it to 200%.

The RBZ’s monetary policy committee cited a June year-on-year inflation figure of 191.6% in its policy statement. The official inflation rate has more than tripled since the year began. The policy rate had already risen from 35% in early 2021 to 80% before the June 27 decision.

The MPC “noted that the increase in inflation was undermining consumer demand and confidence”. The

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