BoB keeps interest rates steady
Thursday, April 24, 2014
Mohohlo
At a Monetary Policy Committee (MPC) meeting on Tuesday, it was concluded that the medium term outlook was positive, with inflation forecast to remain within the 3 – 6 percent objective. The central bank uses interest rates to influence economic activity through money supply control.
The MPC said the current state of the economy, domestic and external economic outlook and the inflation forecast, suggests that the current monetary policy stance is consistent with maintaining inflation within the bank’s 3 – 6 percent objective in the medium term. Hence, the decision to maintain the bank rate at 7.5 percent.
According to both the acting director of Veterinary Services, Kobedi Segale and acting Lands and Agriculture minister, Edwin Dikoloti, the virus currently raging through the North-East mostly likely first entered the country during the festive season.From the “unprecedented” number of cases picked in testing last week, it is likely that cattle and other livestock could have been infected last year, without being reported.Animal health...