Zimbabwe central bank cuts main lending rate to 35% from 70% -statement

November 18, 2019
| Report Focus News
A man holds a Zimbabwean two dollar bond banknote in Zimbabwe. Photographer: Waldo Swiegers/Bloomberg

HARARE (Reuters) – Zimbabwe’s central bank cut its main lending rate to 35% from 70% effective Wednesday after a meeting of the monetary policy committee, which said the inflation outlook was positive despite a recent spike in prices.

The month-on-month inflation rate soared to a four-month high of 38.75% in October from 17.7% the previous month, propelled by a surge in the prices of food and alcoholic beverages.