Africa Banking Currency Economy Finance Governance Government Zimbabwe

Zimbabwe central bank keeps main lending rate at 35%

Zimbabwe’s central bank said on Friday it had kept its main lending rate at 35%, part of efforts to reduce excess liquidity that could be used to buy foreign currency and put pressure on the local currency.

Exporters will now be able to retain their dollar earnings for 60 days, from 30 previously, to allow them to better manage cashflows, the bank said in a mid-term monetary policy statement.

Also read: Zimbabwe annual inflation soars to 837%, statistics agency says

Source: Reuters

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: