Story by Stanley James, Business Editor
THE Reserve Bank of Zimbabwe (RBZ) has maintained the bank policy rate at 35 percent and kept the statutory reserve requirements unchanged to consolidate exchange and inflation rate gains.
In a statement issued after the Monetary Policy Committee (MPC) meeting over the weekend, central bank Governor Dr John Mushayavanhu noted that the tight monetary policy being pursued is yielding positive results.
The RBZ Chief cited the continuous gains in exchange rate stability and the drop in ZiG inflation since January as milestones by the authorities in maintaining stability.
In line with the current stable economic conditions, the MPC resolved to keep the bank policy rate and statutory reserve requirements unchanged.
Monetary authorities are also expecting inflation to moderate in the last quarter of this year at less than 30 percent.
The RBZ also revealed its commitment to the newly launched Targeted Finance Facility aimed at helping firms in need of funding.
It also states that continuous monitoring and evaluation of policies safeguards the economy against emergency risks.
As Zimbabwe moves towards economic stability, market watchers recently called on the central bank to continue implementing the 2025 roadmap to achieve its intended goals.
