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Of Botswana’s economic philosophy and raising rates

Friday, June 24, 2022 | 1830 Views |

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.

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Of Botswana’s economic philosophy and raising rates

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%.

A city divided!

Civil Society threatens Masisi with legal action

Stage set for Metropolitan chess championship

Coal output drops

Soldier faces charge for cop's murder

Batswana join global search for HIV cure

Win propels Galaxy five points clear

Mobile money reaches P26bn

Routine child vaccination imperative