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Savers to bear brunt of interest rate cut

Ndzinge
Ndzinge

Savers are going to bear the brunt of the Bank of Botswana’s (BoB) attempts to weaken monetary policy to bolster the domestic currency, economic analysts have warned.

Last week the central bank reduced its benchmark rate by 50 basis points from six percent to 5.5%, responding to low inflation and a slowing economic growth.

Chief investment officer at Afena Capital Botswana, Alphonse Ndzinge said net savers that depend mostly on short-term fixed deposits for income are probably the worst hit.

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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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