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*Mangudya Emphasises Macroeconomic Stability In Mid-Term Monetary Policy Statement* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?py On Wednesday, August 9, 2023, the Governor of the Reserve Bank of Zimbabwe, Dr. John Mangudya, released the Mid-Term Monetary Policy Statement. He highlighted that the implemented policy measures have set the country on a path towards macroeconomic stability. The focus will be on maintaining the current tight monetary policy stance to ensure price stability and achieve the benefits of monetary and fiscal consolidation. Regarding global economic developments, a slowdown in global GDP growth is expected due to reduced growth in advanced economies. This has led to a decrease in global commodity prices. These global factors have had spillover effects on the domestic economy through trade, imported inflation, and financial linkages, Mangudya said. ---------- Latest itel S24 available on Pindula: 128GB storage, 4GB RAM $119 USD WhatsApp: +263715068543 Calls: 0772464000 Buy Online: https://www.pindula.co.zw/market/itel-s24-128gb-22-20240426142756795795/?s=wanews ---------- Download: Mid-Term_Monetary_Policy_Statement_2023 However, despite the volatility in the exchange rate during the second quarter of 2023, the domestic economic prospects remain robust, Mangudya added. Economic growth is projected at 5.3% for 2023. Mangudya said the measures implemented by the Government and the Bank have stabilized the exchange rate and domestic consumer prices. Inflation, which rose sharply in June 2023, has reversed considerably and is expected to decline further as the policy measures take full effect. He notes that the Reserve Bank of Zimbabwe will maintain the current monetary policy stance, utilizing open market operations and interest rates to stabilize the exchange rate and inflation expectations. The strong macroeconomic fundamentals and commitment to monetary and fiscal consolidation will sustain stability in domestic consumer prices and the exchange rate. *More Pindula News* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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