Tuesday, October 22, 2019 | 08:45 PM

Benchmark Interest Rates in Botswana

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Bank Rate: currently, the Bank's monetary policy stance is signalled through the Bank Rate, which is the rate at which the Bank lends to commercial banks through its discount window. That is, the Bank Rate is the key policy instrument used to signal the direction and magnitude by which the Bank wants market interest rates (deposit and lending rates) to change. Banks operating in Botswana typically set their own reference rates (prime lending rate) in relation to Bank Rate.

14-day and 91-day BoBC rates: Bank of Botswana Certificates (BoBCs) are the primary means through which the Bank conducts open market operations to support monetary policy by absorbing liquidity in the economy. While the level of BoBC rates is influenced by prevailing market conditions, changes are indicated by adjustments to the Bank Rate. The 14- and 91-day BoBCs are auctioned on a weekly and monthly basis, respectively and a detailed report of each auction is published on this website.  The historical data series, which is updated  on a daily basis, uses the weighted average of winning bids.

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