BoB warns as banks test interest rate moratorium
Friday, May 08, 2026 | 230 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
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.
That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...