RBZ Governor Mangudya To Present Monetary Policy Statement On Tuesday
Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, is expected to present the Monetary Policy Statement (MPS) on Tuesday this week.
He will be expected to announce measures to further curb inflationary pressures and stabilise the exchange rate.
Inflation has threatened to rear its ugly head again owing to the continued loss of the local currency on the parallel market, which has negative pass-through effects. Mangudya told The Sunday Mail Business in an interview last week:
Most of the measures will be contained in the monetary policy to be presented before February 8, 2021, which is Tuesday next week (this week).
He said the central bank was maintaining a “strict monetary targeting framework” and will introduce more measures to manage liquidity to prevent inflation and exchange rate volatility.
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Latest statistics from the central bank indicate that reserve money for the week to January 14, 2022, increased by just over $27 billion.
Following the introduction of the RBZ forex auction system, the Zimbabwe dollar stabilised but eventually lost significant value since it began being floated in February 2019.
The local unit now trades around $220-$240/US1 on the black market and $116/US$1 on the weekly foreign currency auction.
More: The Sunday Mail
