53 percent in July 2020 to 2 – Zimbabwe's Leading Online TV techmag.tv

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The resolutions include (1) maintaining the current conservative monetary targeting framework, anchored on 22,5 percent reserve money quarterly targets; (2), keeping the bank policy rate and the Medium-term Bank Accommodation (MBA) Facility rate at 40 percent and 30 percent, respectively; (3), increasing the amount of the MBA facility by an additional $2,5 billion to cater for the winter wheat planting programme and (4), putting a cap on the interest rate at which banks can on-lend the proceeds from the MBA facility at 10 percent above the borrowing rate to ensure recovery of the productive sectors.

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Foreign Currency Auction System bearing fruit?

The Reserve Bank of Zimbabwe (RBZ) has made major milestones in the implementation of a monetary targeting framework that has successfully contained reserve ...

By Ross MoyoApril 1, 20210

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