BUSINESS says the best way to fight the country’s rising inflation lies in addressing structural economic challenges rather than raising interests rates.
Captains of industry and commerce who spoke to The Financial Gazette this week said this was so as speculative borrowing had a “negligible impact” on the country’s renascent inflation. This comes after the Reserve Bank of Zimbabwe (RBZ) hiked interest rates last week, in a bid to curtail speculative borrowing and inflation, while also fostering macro-economic stability.
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Christopher Mugaga, the ZNCC chief executive officer.
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