Monetary Policy Rate (MoPR) maintained at 2.40%

The Bank of Botswana’s Monetary Policy Committee (MPC) maintained the Monetary Policy Rate (MoPR) at 2.40% at the meeting held in April 2024. Subsequently, the bank Prime Lending Rate remained unchanged at 6.51%. The Bank remains positive on the medium-term inflation outlook as the economy is anticipated to operate below full capacity, hence not generating demand-driven inflationary pressures. The 7/14-day BoBC rate was 2.40% in Q1 2024 while the long-term government bond rate (BW012) declined to 8.29% in February 2024, down from 8.72% in November 2023. However, the increase in government bond issuance programmed for 2024/25 is likely to push up rates.