• 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 holds Africa’s highest interest rate steady at 130%

2 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
89
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Zimbabwe holds Africa’s highest interest rate steady at 130%

Zimbabwe’s central bank left official interest rates unchanged after its first meeting since the adoption of a new inflation measure to reflect wider US dollar use in the economy.

The monetary policy committee held the key rate at 130%, according to a statement emailed on Monday from the capital, Harare. Zimbabwe has Africa’s highest interest rates and is second globally to Argentina, where the official rate is 133%.

The increase came after monthly consumer prices rose 4.5% in November, up from 2.5% in the previous month, breaching the central bank’s target of 3%. Food and utility price increases contributed the most to the increase, according to data from the national statistics agency.

“The MPC remained committed to pursuing a tight monetary policy stance to safeguard the prevailing macroeconomic stability and ensure that inflation expectations remained anchored in the short- to medium-term,” Governor John Manguyda said in the statement.

The southern African nation has been battling bouts of inflation in recent years that have eroded the pay of ordinary citizens and stoked volatility in its currency, the Zimbabwe dollar. The currency has lost 89% of its value against the US dollar this year and annual inflation topped 176% in June.

The cost of living in the southern African nation is seen soaring even further as the government plans to raise the price of everything from passports to road toll fees. A new 1% wealth tax is also planned on residential properties worth more than $100,000.

RelatedPosts

President Mahama’s Speech as he Addresses Nation After Military Helicopter Crash [Full Text]

President Mahama Pledges Full, Transparent Probe into August 6 Military Helicopter Crash

State Funeral for Victims of Military Helicopter Crash Scheduled for August 15 – President Mahama

The Treasury expects annual consumer inflation to slow to between 10% and 20% next year, according Finance Minister Mthuli Ncube, who last week presented the national budget to lawmakers.

Source: bloomberg
Via: norvanreports
Tags: Zimbabwe holds Africa’s highest interest rate steady at 130%
No Result
View All Result

Highlights

Black Box of Crashed Military Helicopter Recovered – Ashanti Regional Minister Confirms

Importers and Exporters Association Mourns Victims of Helicopter Crash

Remains of Military Helicopter Crash Victims Flown to South Africa for DNA Identification

Ghana Holds Wreath-Laying Ceremony at Jubilee House in Honour of Helicopter Crash Victims

AfCFTA Secretary-General Mourns Ghana Helicopter Crash Victims

15% US Tariff on Ghanaian Exports Takes Effect Today

Trending

Features

President Mahama’s Speech as he Addresses Nation After Military Helicopter Crash [Full Text]

August 7, 2025

President Mahama’s Speech as he Addresses Nation After Military Helicopter Crash Good evening, my countrymen and...

President Mahama Pledges Full, Transparent Probe into August 6 Military Helicopter Crash

August 7, 2025

State Funeral for Victims of Military Helicopter Crash Scheduled for August 15 – President Mahama

August 7, 2025

Black Box of Crashed Military Helicopter Recovered – Ashanti Regional Minister Confirms

August 7, 2025

Importers and Exporters Association Mourns Victims of Helicopter Crash

August 7, 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.