Hoorah! Interest rates fall

Wednesday, June 24, 2009

In line with falling inflationary pressures, the Bank of Botswana (BoB) yesterday reduced interest rates by a further 1.5 percent, bringing the bank rate down to 11.5 percent.

This is the fourth time that the Central Bank has reduced the bank rate since December 2008 as inflation, which also eased by 1.8 percentage points last week, has been declining due to slower economic growth levels as well as falling fuel prices.

Inflation peaked at 15.1 percent late last year, but it has been on a downward trend, settling at the single digit plateau of 8.4 percent in May.

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