Zimbabwe cuts policy rate to 130%

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

Zimbabwe’s central bank lowered its policy rate by 20 percentage points, to 130%, on October 23. This is the first change to the policy rate since June, when Zimbabwe devalued its currency and raised its rate 1,000 basis points.

According to official statistics, Zimbabwe’s headline inflation fell to 18.4% year on year in September. This is because the national statistics agency says it has adapted its inflation measures to take into account the widespread use of US dollars, rather than the

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