Zimbabwe’s central bank plans to more than double the benchmark interest rate — already the highest in the world — to 190%, a member of its monetary policymaking committee said, as it seeks to put a brake on soaring inflation.
The plan for a record hike in interest rates was among measures the government had been expected to announce during the weekend, he said. President Emmerson Mnangagwa has said his government would unveil steps to curb inflation and the surging price of basic commodities, without providing further details.
The MPC held its latest meeting on Friday, according to a schedule posted on the central bank’s website.
EFF economic policy!
Which is still less than real inflation!
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