- Monetary Policy Committee keeps key rate at 5%, Pelaelo says
- Inflation stayed below upper end of range since at least 2014
- Botswana’s central bank kept its key interest rate at the lowest since at least 2007.
Botswana’s Monetary Policy Committee held the rate at 5 percent, Governor Moses Pelaelo told reporters Tuesday in the capital, Gaborone. It last changed the rate in October 2017, when it reduced it by 50 basis points. The central bank has an inflation-target band of 3 percent to 6 percent. Consumer prices rose 3.5 percent in December and the rate hasn’t breached the upper end of the range since at least 2014.
Botswana is a landlocked country of about 2.2 million people that’s roughly the size of Texas. It’s the world’s biggest diamond producer after Russia and has sub-Saharan Africa’s highest credit rating at Moody’s Investors Service.
Image source: Botswana Stock Exchange