RBZ rules out interest rate hike

Zimbabwe’s central bank has ruled out further interest-rate increases because they would have potentially negative repercussions, governor John Mangudya said.
“We’ve already hiked rates and there is a limit to hiking rates, beyond which point they will cause non-performing bank loans to increase,” he said this week.
“In our case we have identified that the inflation is about the supply and demand side. We need the supply of foreign currency in the economy to increase to stop a deterioration in the exchange rate and contain inflation,” he said. — Bloomberg