HARARE,– The Reserve Bank of Zimbabwe (RBZ) announced it will continue its current tight monetary policy to sustain the ongoing stability of the exchange rate and inflation. This decision was made during yesterday’s Monetary Policy Committee (MPC) meeting, where members expressed satisfaction with the central bank’s measures introduced since early April.
Since the establishment of Zimbabwe’s new currency nearly three months ago, it has remained stable, with the exchange rate holding below 14:1 against the United States dollar.
Month-on-month inflation decreased to -2.4% in May and is projected to be 0% in June. Annual inflation is expected to end the year at below 5%.
Full Statement of the Monetary Policy Committee:
[Full statement text here.]
