RBZ to unveil 2018 monetary policy statement

Zimbabwe Reserve Bank Governor John Mangudya.
Spread the love

Reserve Bank of Zimbabwe Governor Dr John Mangudya is in the next few weeks expected to announce a raft of measures in his monetary policy statement to stimulate production and improve economic confidence in line with the new political dispensation objectives.

The central bank is therefore expected to focus on the bond notes, bank charges, lending rates, cash flow problems, electronic transactions and banking sector status being critical, says an economist Mr Zack Murerwa.

“A lot has happened and we expect policies that seek to restore business confidence in the economy,” he said.

With the government having sealed a $1.5 billion facility with Afreximbank, industry and commerce are also eagerly awaiting to see whether the central bank will introduce policies to stimulate production, ensure smooth allocation of foreign currency to strategic industries, introduce export incentives and stabilise inflation, according to Real Estate Institute of Zimbabwe president Mr Mike Juru.

“Productive sectors are really critical and we expect more to be done to increase economic development,” said Mr Juru.

Zimbabwe needs investor friendly policies and it is the role of the RBZ to introduce confidence building measures, according to Confederation of Zimbabwe Industries past-president Mr Callisto Jokonya.

Mr Jokonya said; “We need to increase foreign direct investment inflows and this is the role of the central bank”.

With the economy being projected to surpass the 4.1 percent target in 2018, the monetary policy statement impact in setting the tone for increased economic activities is therefore under spotlight.