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BoB leans towards looser rate stance

Friday, February 23, 2024 | 330 Views |

New broom: Dekop says the bank will continue its accommodative monetary policy stance this year PIC: PHATSIMO KAPENG

The Bank of Botswana will continue an accommodative monetary policy stance this year, indicating that it will look for opportunities to lower interest rates to support economic activity, BusinessWeek has learnt.

The central bank has generally maintained an accommodative monetary policy stance for years, only breaking the trend in 2022 when 14-year high inflation forced interest rate hikes of 151 basis points.

The looser monetary policy stance is aimed at encouraging more private sector spending through lower interest rates, which in turn perks up economic activity such as job creation.

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