| Interest rates increased by 50 basis points by bank of Botswana |
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| Tuesday,May 27,2008 Posted: 17:22 BJT(0922 GMT) |
| From:BoB Article type:Reproduced |
At its meeting on 26th May, the Monetary Policy Committee (MPC) of the Bank of Botswana decided to increase the Bank Rate by 50 basis points from 14.50 percent to 15 percent. This reflects the Bank’s proactive stance of tightening monetary policy in order to sustain a low medium-term inflation path. While recent increase in inflation have mainly been associated with global increases in the prices of fuel and oil, the risks to the inflation outlook are predominantly upward, and the policy tightening will help contain second-round effects and inflationary expectations. The Bank remains committed to responding appropriately to all economic and financial developments to keep inflation under control. |
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