Zimbabwe maintains tight monetary policy as inflation drops to 18.4%

Zimbabwe says it will maintain its tight monetary policy though inflation has dropped to 18.4%.

According to a statement by the central bank’s monetary policy committee, the central bank will take all action to firmly anchor inflation and exchange rate expectations.

The MPC, which met on Tuesday, noted that monetary and financial conditions were conducive to sustain the prevailing stability given the robust economic growth of 5.3% expected in 2023, high foreign currency inflows relative to external payments and fiscal sustainability.

Inflation has dropped from a peak of 175.8% in June to 18.4% this month.

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