At its meeting today, the Monetary Policy Committee (MPC) of the Bank of Botswana decided to reduce the Bank Rate by 1.5 percentage points to 11.5 percent. While domestic inflation remains above the Bank’s inflation objective range of 3 – 6 percent, it is expected to maintain a downward trend in the medium term, upside risks from higher international fuel prices and possible increases to domestic administered prices notwithstanding. This scope for policy easing is in the context of the continued decline in global economic activity, as well as weaker domestic economic performance. The Bank remains committed to responding appropriately to all economic and financial developments maintain inflation within the medium-term objective, which contributes to sustainable economic growth. For more details see press release.