BoB keeps bank rate steady again

The decision is a boon for borrowers because it means interest rates in Botswana have been torpid for the past 8 months.  It was taken at this week's Monetary Policy Committee (MPC) meeting.  After slashing rates by 550 basis points to support recession-battered economic activity in 2009, Botswana's apex bank last adjusted the bank rate in December 2010.

In a statement released on Monday, BoB says it kept its main bank rate unchanged as the prevailing level of interest rates was consistent with the achievement of its 3 - 6 percent inflation objective in the medium-term.