BoB leans towards softer interest rates

He was speaking this morning at the launch of the Monetary Policy Statement for 2020, an annual event where the central bank reviews inflation trends and monetary policy performance, before announcing the policy position to be adopted for the rest of the year.

The monetary policy position can be austere, where the BoB looks for opportunities to raise interest rates, stable where it seeks to keep them stable, or accommodative where it seeks to reduce them. The choice of position is influenced by the review of economic and financial developments in Botswana, the region and the globe at large and their forecast impact on inflation.