Bank of Botswana holds bank rate steady at 5%
Tuesday, June 19, 2018
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.
While his leadership has brought about significant progress and development, it is imperative that he exercises greater caution in his choice of words, particularly when addressing sensitive matters.One of the primary concerns is the potential impact of his remarks on Botswana’s relationship with De Beers, the diamond mining giant that plays a crucial role in the nation’s economy.The partnership between Botswana and De Beers has been mutually...