FNBB expects interest rates to drop

Tuesday, February 11, 2020

The country's biggest bank, First National Bank Botswana, expects the central bank to cut the bank rate by at least 25 basis points at some point this year.

Speaking at a post-budget review, Gomolemo Basele, a quantitative analyst with FNBB, said the bank expected to trend low this year, giving room for the Bank of Botswana to lower the bank rate.

The bank rate is the benchmark against which all other rates in the market, both lending and deposit, are set against.

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