Advertisement
the monitor

BoB to revise inflation outlook after pula adjustment

EYES ON THE BALL: Masalila says the bank is assessing the price hikes. PIC: MORERI SEJAKGOMO
EYES ON THE BALL: Masalila says the bank is assessing the price hikes. PIC: MORERI SEJAKGOMO

The Bank of Botswana is assessing the impact of upward price movements in the economy following the adjustment of the pula, amidst expectations that the original forecast of 2.7 percent average inflation this year will be increased.

Firms around the country have increased their prices following the downward revision of the pula and an increase in the costs commercial banks pay to access foreign currency from the central bank.

Both the BoB and the Competition and Consumer Authority have criticised the price hikes, describing them as "disingenuous" and "opportunistic". The central bank has said banks, in particular, are adding unreasonable mark-ups on their rates for foreign currency.

Advertisement
Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

Have a Story? Send Us a tip
arrow up