At its meeting today, the Monetary Policy Committee (MPC) of the Bank of Botswana decided to reduce the Bank Rate by 1 percentage point to 13 percent. While domestic inflation remains above the Bank’s inflation objective range of 3 – 6 percent, and was constant between February and March, it is expected to maintain the downward trend that began in November 2008, providing further scope for policy easing. This 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.