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.

Editor's Comment
Prosecutors deserve better

These legal professionals, who are entrusted with upholding the rule of law, face numerous challenges that compromise their ability to effectively carry out their duties.Elsewhere in this edition, we carry a story on the lamentations of the officers of court.The prosecutors have raised a number of concerns, calling for urgent attention from all relevant stakeholders, including the President, Minister of Justice and the Attorney General. Their...

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