Of Botswana’s economic philosophy and raising rates

Balancing act: BoB governor, Moses Pelaelo has to thread the line between restraining inflation and supporting the economic rebound PIC: PHATSIMO KAPENG
Balancing act: BoB governor, Moses Pelaelo has to thread the line between restraining inflation and supporting the economic rebound PIC: PHATSIMO KAPENG

On Thursday 16th June 2022, the Bank of Botswana announced a hike of its Monetary Policy Rate by 50 basis points moving from 1.65% to 2.15%.

First and foremost, what does this mean for you and me? In simple terms, it means most of your loans just got half a percent more expensive.

That is, if the loan interest rate you were being charged by your bank was 7% it will now be 7.5% meaning you will be paying more every month.

Editor's Comment
Molepolole unrest: Urgent attention on missing person cases

From Jakoba's mysterious disappearance on November 9 to the grim discovery of his remains at Mosinki Lands, a gap in the response mechanisms of the police and village leadership has been laid bare. The community's anger is evident, seen in the attack on Bakang Masole, the man found driving Jakoba's taxi and the main suspect, and the subsequent riot. Residents express discontent, citing a troubling trend of missing persons cases often...

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