• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Zimbabwe to Keep Monetary Policy Tight to Help Foundering ZiG

7 months ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
55
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Zimbabwe to Keep Monetary Policy Tight to Help Foundering ZiG

Zimbabwe’s central bank will keep a tight monetary policy stance this year to support its currency that’s lost 48% of its value in the nine months since it was introduced.

High interest rates will also help the Reserve Bank of Zimbabwe contain month-on-month inflation to single-digit levels, Governor John Mushayavanhu said. Monthly consumer-price gains have “significantly” slowed to 3.7% in December from 37.2% in October, he said.

“The forthcoming 2025 Monetary Policy Statement will further contextualize and consolidate these positive prospects, and proffer more fine-tuning policies to move the economy from stability to growth,” Mushayavanhu said in a written response to questions.

Years of economic mismanagement have doomed five attempts to create a functioning currency in the southern African nation. ZiG — Zimbabwe’s latest gold-backed currency — isn’t faring any better than its predecessors, with residents preferring the US dollar as a store of value. About 90% of transactions are done using the greenback.

The central bank has increased its key interest rate to 35% to slow inflation and support the currency.

Zimbabwe’s Treasury forecasts the economy to expand 6% this year driven by a recovery in the agricultural sector and growth in the iron and steel industry.

RelatedPosts

Appiah Adomako Writes: Ghana Needs a Surgical Approach to Minimum Investment Capital Requirement

Serie A: Jonathan David Shines on Serie A Debut as Juventus Overcomes Parma

La Liga: Mbappe, Vini Jnr on Target as Real Madrid Beat Real Oviedo

The central bank late last year announced the Targeted Finance Facility, a special-purpose vehicle meant to finance productive sectors and spur economic growth.

“It is also important to note that the TFF will be financed from the pool of banks’ statutory reserves at the Reserve Bank, implying that there is no new money created to finance it,” unlike in the past, Mushayavanhu said.

Source: bloomberg
Via: NorvanReports
Tags: monetary policyZiGZimbabweZimbabwe to Keep Monetary Policy Tight to Help Foundering ZiG

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gold Fields CEO Flags Illegal Mining; Backs Ghana’s Push for Fairer Mining Returns but Stresses Investor Appeal

MTN Ghana to Offload GHS 2.83 Million Worth of Shares on the Open Market

CSO Budget Forum Calls for Urgent Reforms in Tax Compliance in Ghana

Government Misses T-Bill Target, Raises GHS 5.75bn at Higher Yields

CSO Budget Forum Urges Sunset Clauses for Energy Levies Ahead of 2026-2029 Budget

GSE Ends Week Lower as Composite Index Falls 0.89% Despite Strong YTD Gains

Trending

Business

Appiah Adomako Writes: Ghana Needs a Surgical Approach to Minimum Investment Capital Requirement

August 25, 2025

Appiah Adomako Writes: Ghana Needs a Surgical Approach to Minimum Investment Capital Requirement Last week in Tokyo,...

Serie A: Jonathan David Shines on Serie A Debut as Juventus Overcomes Parma

August 25, 2025

La Liga: Mbappe, Vini Jnr on Target as Real Madrid Beat Real Oviedo

August 25, 2025

Gold Fields CEO Flags Illegal Mining; Backs Ghana’s Push for Fairer Mining Returns but Stresses Investor Appeal

August 25, 2025

MTN Ghana to Offload GHS 2.83 Million Worth of Shares on the Open Market

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.