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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Mabogo dinku a thebana

According to both the acting director of Veterinary Services, Kobedi Segale and acting Lands and Agriculture minister, Edwin Dikoloti, the virus currently raging through the North-East mostly likely first entered the country during the festive season.From the “unprecedented” number of cases picked in testing last week, it is likely that cattle and other livestock could have been infected last year, without being reported.Animal health...

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