Interest rates end year steady at 5.5% :: Mmegi Online

At its last sitting of the year yesterday, the Bank of Botswana’s Monetary Policy Committee (MPC) decided to maintain the benchmark bank rate on hold at 5.5%. This means commercial banks will also in turn hold their prime rates at seven percent for the rest of the year going into 2017, as per the central bank regulations.

In a statement released after the meeting, Bank of Bank (BoB) said it had concluded that the outlook for price stability remains positive, with the inflation forecast within the 3 – 6 percent objective range in the medium term.

“The current state of the economy and both the domestic and external economic outlook, including the inflation forecast, suggest that the prevailing monetary policy stance is consistent with maintaining inflation within the Bank’s medium-term objective range of 3 - 6 percent.

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