Eddie Cross In September 2019, Finance and Economic Development Minister, Professor Mthuli Ncube, appointed a nine-member Monetary Policy Committee (MPC) to influence the Reserve Bank of Zimbabwe (RBZ)’s monetary policy. Crucially, the MPC’s wide-sweeping responsibilities extend to setting limits on the Bank’s open market operations, ensuring price stability, and determining interest rates. Chaired by Central Bank Governor, Dr John Mangudya, the Committee has done exceptionally well – by all accounts – in discharging its functions in spite of the well-documented difficult socio-economic environment under which it operates. The price stability that set-in after the foreign currency auction trading system was introduced in June last year is one of the MPC’s many achievements that are difficult not to acknowledge even amongst some of the RBZ’s harshest critics. The same goes for the positive sentiment that has been restored after eluding the domestic economy since June 2013, when an uneasy coalition government between Zanu PF and the MDC ended.