Reserve Bank of Zimbabwe maintains interest rates at 35%
Central bank keeps policy tight following September devaluation and spike in inflation
The Reserve Bank of Zimbabwe has kept interest rates at 35%, the highest level of any country in Africa.
In a statement yesterday (December 3), the bank’s governor John Mushayavanhu said the monetary policy committee had made the decision to ensure inflation expectations remained “well anchored”.
At its previous meeting in September, the committee had raised the policy rate by 15 percentage points and reduced the exchange rate for the newly introduced zig against the dollar.
In his statement
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