Botswana’s Central Bank keeps lending rate at 5.5 per cent

File photo of building of the Bank of Botswana in the capital Gaborone in Botswana [Photo Credit: News - Yahoo]

Botswana’s Central Bank left its benchmark lending rate unchanged at 5.5 per cent on Tuesday, saying the inflation forecast will remain low and stable in the medium term.

“Subdued domestic demand and modest external factors point to benign inflation,” CBN Governor Moses Pelaelo said.

The News Agency of Nigeria reports that Nigeria’s Monetary Policy Rate, MPR, is 14 per cent, an indication of the lending rate in the economy.

In June 2016, it was reported that Botswana’s central bank kept its benchmark lending rate unchanged at six per cent , saying the outlook for price stability remained positive, and inflation was seen remaining within target in the medium term.

“The current state of the economy, including the inflation forecast, suggests that the prevailing monetary policy stance is consistent with maintaining inflation within the Bank’s medium-term objective.”

(Reuters/NAN)

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