insert_link Africa Botswana Holds Interest Rate Steady Amid Rising Inflation Botswana’s central bank has maintained its monetary policy rate at 1.90% for the third consecutive meeting, the bank announced on Thursday says CNBCAfrica. Inflation rose to 2.5% in January, up from 1.7% in December, but remains below the Bank of Botswana’s preferred range of 3% to 6% in the medium term. The country’s economy, heavily reliant on diamond exports, faced a contraction last year due to weakened global demand for […] today21 February, 2025
insert_link Africa Botswana’s economy contracted in Q1 Botswana’s economy contracted after diamond production dropped. Gross domestic product shrank an annual 5.3% in the first quarter, compared with growth of 1.9% in the prior three months. The downturn, according to Statistics Botswana was primarily influenced by a decrease in real value added of the diamond traders and mining & quarrying industries of 46.8% and 24.8% respectively. Botswana is the world’s largest producer of rough diamonds by value, with the […] today1 July, 2024
