'Bank rate increase to curtail credit growth'

Friday, June 06, 2008

Last week's bank rate increase by the Bank of Botswana's (BoB) Monetary Policy Committee should be effective in cutting down inflationary pressures, renowned economist Dr Keith Jefferis has said.

After sticking to their guns for a while, BoB last week finally raised the bank rate from 14.5 percent to 15 percent as a counter inflationary measure.

This followed a seven-month rally of the annual inflation figure rising from 6.8 percent in September 2007 to 11.1 percent in April this year.

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