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RBZ set to deliver 2023 Monetary Policy Statement


Story by Stanley James, Business Editor

REDUCING inflation and maintaining a stable economy rank are among the major expectations from the business community ahead of the 2023 Monetary Policy Statement to be presented in the next few weeks.

The beginning of the year is associated with fresh plans for industry and commerce, but policy direction also sets the tone for operations.

While the 2023 budget is now operationalised, the Reserve Bank of Zimbabwe Governor, Dr John Mangudya will release the 2023 Monetary Policy Statement in the next few weeks.

Confidence-building measures have been described by the business community as key to overall economic growth.

“Business is anxiously awaiting to see whether the interest rate policy will be slashed or how the central bank will tackle that issue which is a centre of focus in shaping the business operations this year,” said Zimbabwe National Chamber of Commerce president, Mr Mike Kamungeremu.

With inflation having been on a downward trend, captains of industry are also expecting measures by the RBZ to consolidate the gains.

Buy Zimbabwe General Manager Mr Alois Burutsa said, “Inflation is on a downward spiral, but it is imperative to note that this should not be a relaxing mode but it calls for further measures to sustain the trend.”

Submissions by industry for consideration by monetary authorities also reflect the need to provide policy certainty.