HARARE, June 30 (Reuters) – Zimbabwe’s central bank will
raise its main lending rate to 35% from 15% from Wednesday to
curb speculative borrowing, its governor said, as the country
grapples with soaring inflation.
“In order to curb speculative borrowing, the Monetary Policy
Committee resolved to increase the bank policy rate from the
current 15% to 35%, with effect from 1 July 2020,” Mangudya
Zimbabwe last recorded inflation at 785%, while the Zimbabwe
(Reporting by MacDonald Dzirutwe; Editing by Kevin Liffey)
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