Bank of Botswana holds bank rate steady at 5%
Tuesday, June 19, 2018
Bank of Botswana governor, Moses Pelaelo
At that level, the bank rate is the lowest on record, according to the central bank’s published data, which dates back to 2004.
The bank rate is the benchmark against which all other interest rates, such as lending and deposit rates, are pegged in the market. For consumers, a review of the bank rate means either cheaper or more expensive loans and loan repayments.
That rare sight deserves heartfelt praise, not only for President Duma Boko and his administration, but also for the Botswana Democratic Party (BDP), the Umbrella for Democratic Change (UDC), the Mogae family, and the entire country.President Boko’s decision to grant a full state funeral to a man who belonged to a rival party was a mark of true statesmanship. He recognised that national leadership carries a weight that belongs to the whole...