Botswana holds monetary policy rate at 2.65%

GABORONE, April 28 (Reuters) - Botswana's central bank kept its monetary policy rate (BWRATE=ECI) unchanged at 2.65% on Friday, despite inflation rising in the latest month.

Inflation (BWCPIY=ECI) 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

Reuters

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Botswana holds monetary policy rate at 2.65%

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