Bank of Botswana holds bank rate steady at 5%

Bank of Botswana governor, Moses Pelaelo
Bank of Botswana governor, Moses Pelaelo

The Bank of Botswana this morning maintained the bank rate at 5%, continuing its push to boost economic activity through accommodative interest rates.

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.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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