BoB cuts interest rates to record low

Wednesday, October 25, 2017

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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