RBZ holds policy rate at 60 percent

THE Reserve Bank of Zimbabwe (RBZ) has maintained policy and overnight accommodation rates at 60 percent and 40 percent, respectively, saying this will help contain inflationary pressures and tie down money supply growth.
The apex bank recently raised the policy rate from 40 percent in response to resurgent inflationary pressures.
The policy rate is what commercial banks pay when they borrow from the central bank. It generally serves as a reference rate for the entire financial system.