BoB Decides To Leave Bank Rate Unchanged

The last adjustment of the Bank Rate was a decrease of half a percentage point on June 18, 2007. The central bank noted that while inflation decreased between May 2006 and June 2007, there was an increase in July, largely reflecting the effect of the fuel price increase in that month. 

"As a result of this impact and anticipated upward adjustments in other administered prices, inflation is, in the short-term, expected to remain slightly above the upper end of the Bank's objective range", BoB spokesperson Chepete Chepete said Friday.