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Mangudya Emphasises Macroeconomic Stability In Mid-Term Monetary Policy Statement

1 year agoWed, 09 Aug 2023 16:36:48 GMT
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Mangudya Emphasises Macroeconomic Stability In Mid-Term Monetary Policy Statement

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.

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.

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8 Comments

Anonymous · 1 year ago
Kuzamura nekushama nyayi zvakafanana... Guvamatanga na Mangudya...!
Mupurwa · 1 year ago
Mupurwa dzeZanu tachabvisa rudhende rwese after elections.
xyz · 1 year ago
we have heard this b4,&we know its all hogwash.
gidi · 1 year ago
rambai makashinga #ED manyama
Zuze · 1 year ago
Zvekurwa negidi zvakasopfuura kare kare, gore ragochanhembe. Hondo yehupfumi hwenyika yaakutoda pfungwa, dzamusina
mufadzi · 1 year ago
nematauriro aunoita woita kunge unezvinhu zvako iwe uchiswera pazvemahara any news update paPindula wapindura uuuuuu .zanu failed 43yrs now vakupiwa pepsi nechingwa exchange ne5yrs ,thnks wy makabvisiswa bhutsu manzi kwaita deziri kuchinhoyi ndopandakaona pfungwa dzacho kuti uuuuuu
Anonymous · 1 year ago
Rambai makabata ipapo uye FIU ngairambe iri alert. Do not relax because ma saboteurs haasi kuneta kuda kuuraya mari yedu. Pamberi ne mari yemuno kwete zvaana NERO ne CCC vanoti heee tikapinda toda kubvisa mari yedu yemuno. Poor thinking nxaa. VOTE ED ane hurongwa hwevanhu nevene vayo.
ccc · 1 year ago
wambonzwa kuti zvanzi chii here

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