Botswana Central Bank Hikes Key Rate in Policy Overhaul
- Monetary policy committee increases rate by 51 bps to 1.65%
- Inflation now seen within target by the first quarter of 2023
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Botswana increased its revamped interest rate to counter inflationary pressures stemming from Russia’s war with Ukraine.
The central bank’s policy committee raised the yield on the main monetary operations instrument by 51 basis points to 1.65%, Governor Moses Pelaelo told reporters in the capital, Gaborone, on Thursday.