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BoB maintains the Bank Rate at 4.25 percent


After slashing the bank rate by 50 basis points from 4.75 percent to 4.25 percent at the end of April, the central bank has at its Monetary Policy Committee (MPC) meeting held on Thursday, decided to keep it at that level.

The bank had in April reduced the rate in order to boost economic activity by making lending a bit cheaper, and this week, Bank of Botswana Governor Moses Pelaelo told local media during a virtual press briefing that they decided to continue with the accommodative monetary policy stance.

Explaining the factors behind the decision, the Governor noted that the Covid-19 ...

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