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The Bank of Botswana on Tuesday reduced its key interest rate, the bank rate, by 50 basis points to 11% from 11.5%.
"The decision is based on the recognition that the favorable inflation outlook continues to exist in the medium term, which is the relevant time frame for monetary policy to have an effect", the central bank said.
The bank pointed out that although inflation was likely to fluctuate in the short-term it is expected to stabilize around the objective range over the medium term. Underlying the positive inflation outlook was the subdued global economic activity and the projected below-trend performance of the domestic economy, the central bank noted.
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