Interest rate hike looms

Tuesday, May 20, 2014

Imported goods are expected to push inflation up

The Bank of Botswana (BoB) is likely to hike interest rates by 50 basis points by the end of the year as inflation is seen rising in the coming months. Analysts believe the rise will be largely due to pressure from imported goods.

Citing a favourable outlook the BoB cut the benchmark bank rate by two percentage points last year to 7.5 percent as inflation, measured by Consumer Price Index (CPI), eased to a four-decade low.

However, inflation quickened slightly to 4.5 percent year on year last month from 4.4 percent in March and analysts forecast the trend to continue for the remainder of the year although it will remain within the central bank’s 3-6 percent objective.

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Interest rate hike looms

The Bank of Botswana (BoB) is likely to hike interest rates by 50 basis points by the end of the year as inflation is seen rising in the coming months. Analysts believe the rise will be largely due to pressure from imported goods.

The projects magazine in collaboration with Stanbic bank launched the future of mining summit 2024

MISA Botswana celebrates World Press Freedom day

Unlawful wounding turns to murder

Mahalapye suspected copper cable thief nabbed

TAFIC targets top four finish

Selefu

Selefu

Repatriation underway for seven SA Pilgrims

Stakeholders must step up veggie supply