BoB warns as banks test interest rate moratorium

Friday, May 08, 2026 | 240 Views |

Speaking softly: The central bank says it is still engaging with banks and does not want to have to take tougher action PIC: MORERI SEJAKGOMO

The Bank of Botswana’s conduct and compliance unit is scheduled to conduct an assessment of the effective interest rates prevailing amongst local banks, amidst reports that some of them are “innovating” around the central bank’s moratorium on raising rates.

Since October last year, the BoB has restricted banks from increasing their prime lending rates, the benchmark rate against which other credit products and services are priced within banks.

The move came after a sharp upswing in interest rates amongst banks due to the shortage of liquidity in the market.

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BoB warns as banks test interest rate moratorium

The Bank of Botswana’s conduct and compliance unit is scheduled to conduct an assessment of the effective interest rates prevailing amongst local banks, amidst reports that some of them are “innovating” around the central bank’s moratorium on raising rates.

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