Due to the effect of what he called 'external shocks,' the MPC has now upped its inflation rate forecast to a figure that is above 100%. monetarypolicy inflation
Zimbabwe to Hike Benchmark Rate to 200%, Central Bank Minted Gold Coins to Act as Store of Value
Explaining the rationale behind the planned move, Persistence Gwanyanya, a member of the Reserve Bank of Zimbabwe ’s monetary policy committee,that by hiking the benchmark rate the central bank will discourage speculative borrowing. Gwanyanya added: Before this latest announcement, the RBZ had on June 17 asked banks to cease lending at rates below 80% starting on July 1, 2022.
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