Zimbabwe central bank raises main lending rate to 40%

JOHANNESBURG (Reuters) - Zimbabwe lifted its main lending rate to 40% from 35% previously on Thursday in a bid to reduce liquidity and control speculation in its foreign currency market, the central bank said.

The Reserve Bank of Zimbabwe tower, centre, in Harare, Zimbabwe. Photographer: Waldo Swiegers/Bloomberg

“The decision on interest rates takes into account the current liquidity conditions in the market and the need to continue controlling speculative borrowing,” The Reserve Bank of Zimbabwe said in a statement.

Post published in: Business

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