Source: Zimbabwe central bank cuts main lending rate to 35% from 70% -statement – Reuters
A man poses with Zimbabwe’s new two dollar banknotes as customers queue outside a bank in Harare, Zimbabwe, November 12, 2019. REUTERS/Philimon Bulawayo
HARARE (Reuters) – Zimbabwe’s central bank cut its main lending rate to 35% from 70% effective Wednesday after a meeting of the monetary policy committee, which said the inflation outlook was positive despite a recent spike in prices.
The month-on-month inflation rate soared to a four-month high of 38.75% in October from 17.7% the previous month, propelled by a surge in the prices of food and alcoholic beverages.
COMMENTS
Makes no difference when the inflation rate is way over 500% you clowns.
The Zim Dollar has according to reports coming to me has COLLAPSED today .
The Traders are demanding 10 Zim Dollars to the Rand
and
150 Zim Dollars for a US$