The Reserve Bank of Zimbabwe (RBZ) says it is winning the fight to bring stability to the country\u2019s economy. The central bank has been working to control inflation and keep the exchange rate steady. According to RBZ, these efforts are working well. The bank recently injected US$150 million into the foreign exchange market as part of its policies.<\/p>\n\n\n\n
The RBZ Monetary Policy Committee (MPC) met on December 3, 2024, to check how its policies from September 27, 2024, were performing. The committee said these measures have helped to reduce money flowing in the economy. This has also stopped some people from speculating in the foreign exchange market.<\/p>\n\n\n\n
RBZ shared that inflation and the exchange rate have been stable since October 2024. In October, inflation was very high at 37.2%. By November, it dropped to 11.7%. The bank said the high inflation in October happened because the Zimbabwean dollar (ZiG) lost value in September. Now, RBZ expects inflation to go back to lower levels, like before October 2024.<\/p>\n\n\n\n
RBZ also reported that foreign currency inflows have increased. Between January and October 2024, Zimbabwe received US$11.05 billion. This is 19.1% more than the US$9.27 billion received in the same time in 2023. More foreign currency coming in is helping to keep the exchange rate stable.<\/p>\n\n\n\n
To maintain stability, the MPC decided to keep its strict policies in place. Some of the key measures include:<\/p>\n\n\n\n
The MPC also welcomed a new government law that forces companies to pay corporate tax in a mix of 50% US dollars and 50% ZiG. This will encourage more sellers to put foreign currency in the interbank market.<\/p>\n\n\n\n
RBZ also announced a Targeted Finance Facility (TFF) to support businesses. This facility will help key industries through banks. The central bank will soon give more details to banks on how this facility will work.<\/p>\n\n\n\n
The RBZ said it will keep a close eye on the economy. It will change its policies when needed, based on how inflation and the exchange rate behave. The central bank is confident that these steps will keep Zimbabwe\u2019s economy stable in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"
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