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.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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