Industry, economists back monetary policy statement

By Davison Vandira

INDUSTRY and economists have been charmed by policy consistency exhibited by the Monetary Policy Statement announced this Monday, describing it as key in achieving the desired long-term macro-economic stability.

The monetary policy statement strengthened the already-known tight monetary policy stance earmarked to reign in inflationary pressures that are threatening the stability of the Zimbabwe dollar.

It is in this context that a raft of measures were instituted by the monetary authorities to improve the country’s productive capacity and incentivising export receipts through removal and increasing of retention thresholds for exporters.

Economist, Mr Takudzwa Chisango noted that the monetary policy statement is in line with the fiscal objectives, hence it should be supported without reservations.

“I am happy about the level of consistency being shown by the RBZ in its latest Monetary Policy Statement edition, which is key in installing confidence into the economy,” he said.

Zimbabwe National Chamber of Commerce President, Dr Tinashe Manzungu says the Monetary Policy stance articulated is pro-productive as it gives the local currency impetus to improve on competitiveness.

“As industry we are always after a good operating environment which is sustainable, and from this perspective we are happy with the stance taken by monetary authorities in fostering financial stability through its Monetary Policy Statement.”

The Monetary Policy Statement also highlighted the soundness of the financial sector in supporting implementation of the National Development Strategy One.