At the meeting held on June 14 and 15, 2023, the Monetary Policy Committee (MPC) of the Bank of Botswana maintained the Monetary Policy Rate (MoPR) at 2.65 percent. Inflation fell from 9.9 percent in March 2023 to 7.9 percent in April 2023, but remained above the Bank’s medium-term objective range of 3 – 6 percent. The decrease in inflation was mainly due to the dissipating impact of the earlier increases in administered prices (base effects) in the corresponding period in 2022. Inflation is forecast at 5.7 percent in May 2023 and the MPC projects that, going forward, inflation will remain within the objective range into the medium term.
Read the Press Release attached: