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Interest rates sink to 25-year low

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Bank of Botswana (BoB) yesterday cut the bank rate by a percentage point to a 25-year low of 6.5 percent in line with falling inflation and the growing need to spur productive lending.

The rate cut will come as a boon for borrowers as commercial banks are expected to reduce their lending rates by a similar margin, taking the prime-lending rate down to eight percent.

In the prevailing period of static real incomes, the central bank’s move will also boost the welfare of the general consumer as it comes a week after fuel prices were reduced for the second time in as many months.

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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...

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