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BoB cuts interest rates to record low

Pelaelo says inflation is expected to remain low in the medium term
Pelaelo says inflation is expected to remain low in the medium term

The Bank of Botswana (BoB) yesterday cut the main bank rate by 50 basis points to five percent, the lowest in recorded history, in a move that lowers interest costs for new borrowers and cuts repayments for certain existing borrowers.

The rate cut was the first since August 2016.

BoB governor, Moses Pelaelo explained that benign forecasts for both local and external inflation as well as a need to support economic activity, had motivated the rate cut.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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