RBZ raises bank policy rate amid rising inflation

April 5, 2022Last Updated: April 5, 2022
1 minute read
Governor of Reserve Bank of Zimbabwe (RBZ) John Mangudya presents his 2016 Monetary Policy Statement after declaring the country lost USD1.8 billion through illicit money transfers, in Harare, on February 4, 2016. (Photo by Jekesai NJIKIZANA / AFP) (Photo by JEKESAI NJIKIZANA/AFP via Getty Images)

BUSINESS REPORTER The Reserve Bank of Zimbabwe (RBZ) has raised the bank policy rate to 80% per annum from 60% to curb speculative borrowing, among a raft of measures to contain inflation and foreign exchange parallel market activities. The bank will tighten monetary policy by reducing the quarterly reserve money growth target to 5% from…

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April 5, 2022Last Updated: April 5, 2022
1 minute read

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