At the meeting held on April 27 and 28, 2023, the Monetary Policy Committee (MPC) of the Bank of Botswana maintained the Monetary Policy Rate (MoPR) at 2.65 percent. Inflation decreased from an average of 12.6 percent in the fourth quarter of 2022 to an average of 9.4 percent in the first quarter of 2023 but remaining above the Bank’s medium-term objective range of 3 – 6 percent. The MPC projects that, while it will fluctuate, inflation will trend downwards and fall within the objective range in the second quarter of 2024.
Read the MPC Statement attached:
Monetary Policy Committee Decision – April 2023.pdf
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