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Zimbabwe Central Bank Changes Tack, Halves Key Rate to 35%

  • Move comes after MPC raised interest rate to 70% in September
  • Finance ministry’s 2020 budget calls for surge in spending
John Mangudya
John MangudyaPhotographer: Christopher Goodney/Bloomberg
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Zimbabwe’s central bank halved its key interest rate to 35%, joining the finance ministry in efforts to revive an economy hobbled by years of mismanagement.