11 March 2019 1 Min Read
Zimbabwe annual inflation to fall by as much as 15 pct by end of year - cenbank governor
Zimbabwe Reserve Bank Governor John Mangudya delivers his Monetory Policy Statement in Harare on February 20, 2019, where he announced the establishment of an interbank foreign exchange market in the country officially abandoning the 1:1 exchange rate between the USD and the country's quasi currency the Bond note.
Image: Jekesai NJIKIZANA / AFP
Image: Jekesai NJIKIZANA / AFP
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Zimbabwe's average annual inflation should fall to between 10 and 15 percent after it reached its highest level in a decade in January, central bank governor John Mangudya said on Monday.
Year-on-year inflation accelerated to 56.9 percent in January from 42.09 percent in December, propelled by increases in the price of basic goods and beer.
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Zimbabwe recently adopted a new currency, called the real-time gross settlement (RTGS) dollar. But how will this new currency really affect ordinary Zimbabweans - and will it help the country's struggling economy? Business Time reporter, Mudiwa Gavaza gives us the breakdown.
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