GABORONE (Reuters) – Botswana’s central bank kept its monetary policy rate unchanged at 2.65% on Friday, despite inflation rising in the latest month.
Inflation rose to 9.9% year on year in March from 9.1% in February, far above the central bank’s 3%-6% preferred band.
“While it will fluctuate, inflation will trend downwards in 2023 and is expected to reach the 3%-6% objective in the second quarter of 2024,” Bank of Botswana Governor Moses Pelaelo told a news conference.
(Reporting by Brian Benza; Writing by Anait Miridzhanian; Editing by Alexander Winning)
