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Zimbabwe Central Bank mules interest rates cuts

HARARE – Monetary authorities agree that there is need to lower the cost of borrowing in Zimbabwe in order to support high production in the economy, but are still studying key fundamentals to see if that will not upset current stability. Reserve Bank of Zimbabwe RBZ Governor Dr John Mangudya, said recently that the bank’s monetary policy committee (MPC), was still looking at the key economic fundamentals and will look at possible interest rate review downwards in the new year. The Reserve Bank of Zimbabwe raised its policy rate to 35 percent from 15 percent in a bid to curb speculative borrowing amid surging inflation.

Zimbabwe dollar eases marginally against the USD

ECONOMIC experts have praised the Reserve Bank of Zimbabwe (RBZ) foreign currency auction system as the Zimbabwe dollar eased marginally against the United States dollar to 81,78 from 81,73 last week. When the Reserve Bank of Zimbabwe (RBZ), introduced the foreign currency auction in June this year, there were mixed perceptions on whether it could achieve its aims. With the illegal foreign currency market being decimated, the value of the local currency being protected, forex being availed to industries and prices at affordable levels, the auction is seemingly on the right path. Speaking after the last Auction of the year, Confederation of Zimbabwe Industries president Mr Henry Ruzvidzo said the system has restored financial discipline.

Zimbabwe: Arda, Cottco Boards to Boost Production

Zimbabwe: Arda, Cottco Boards to Boost Production
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