The Reserve Bank of Zimbabwe has decided to keep its benchmark interest rate unchanged at 20%, despite the country experiencing easing inflationary pressures. This decision comes as Zimbabwe continues to utilize its bullion-backed currency, which has been credited with stabilizing the economy and taming price pressures. The International Monetary Fund (IMF) has acknowledged that the introduction of the bullion-backed currency has been instrumental in ending the economic instability that previously plagued Zimbabwe. The easing inflationary pressures are expected to continue for the rest of the year.
The IMF said the introduction of a bullion-backed currency by Zimbabwe has helped to end instability which had plagued the economy https://t.co/0WlBGfFMwG via @markets @ray_ndlovu
Zimbabwe’s inflation rate remained unchanged as its bullion-backed currency helped to tame price pressures https://t.co/XVF6MAc2rZ
Zimbabwe’s inflation rate remained unchanged as its bullion-backed currency helped to tame price pressures https://t.co/n5l4Vwyq0i
The IMF said the introduction of a bullion-backed currency by Zimbabwe has helped to end instability which had plagued the economy https://t.co/N4wWZeG0KG
Zimbabwe left its benchmark interest rate unchanged even as it sees inflationary pressures easing for the rest of the year under its bullion-backed currency https://t.co/r4uucEGGN0
⚠️ ZIMBABWE CENTRAL BANK LEAVES LENDING RATE UNCHANGED AT 20%