The Monetary Policy Committee (MPC) reduced the Bank Rate by 50 basis points to 6% at a meeting held on August 6, 2015. According to Bank of Botswana, the easing of monetary policy is a step in the right direction as suggested by the current state of the economy and domestic and external economic outlook. Accordingly, the decision is consistent with maintaining inflation within the Bank of Botswana's medium-term objective range of 3-6%.