Reserve Bank of Zimbabwe to maintain tight monetary policy

The Reserve Bank of Zimbabwe is to maintain its current tight monetary policy to ensure the sustenance of the current stability of both the exchange rate and inflation.

This was agreed at yesterday’s Monetary Policy Committee meeting which said it was satisfied with the impact of the monetary policy measures introduced by the central bank since the beginning of April.

The country’s new currency has remained below 14:1 to the United States dollar since its establishment nearly three months ago.

Month-on-month inflation dipped to -2.4% in May and is expected to be 0% in June while annual inflation is expected to end the year at less than 5%.

Below is the full statement of the Monetary Policy Committee:

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