Monetary Policy

August 2020 Monetary Policy Statement

This Monetary Policy Statement outlines the monetary policy stance being pursued by the Bank in the second half of 2020.

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February 2020 Monetary Policy Statement

The measures and policies discussed in the statement are aimed at accomplishing the Bank’s 2020 key strategic focus areas of ensuring exchange rate and price stability, the smooth functioning of the interbank foreign exchange market and providing support to economic activity without endangering the important objective of reducing and stabilising inflation in the short to medium term.

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September 2019 Monetary Policy

The re-introduction of the Zimbabwean dollar presents renewed scope for the Bank to conduct effective monetary policy. Accordingly, the Bank shall vigorously pursue its primary objective of maintaining price and financial stability, while complementing fiscal policy in line with the country’s objective of becoming an upper middle income country by 2030.

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February 2019 Monetary Policy

Zimbabwe has witnessed significant changes on the economic front. The economy took a different course of direction from a positive economic trajectory to an inflationary environment. This situation needs immediate redress in order to restore value for money.

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October 2018 Monetary Policy

The Statement comes at a time when the economy is expanding on account of high consumer demand, increased business confidence within the national economy and positive expectations following the peaceful completion of the electoral process and the subsequent formation of a new lean cabinet led by His Excellency, President E. D. Mnangagwa.

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January 2018 Monetary Policy

The Statement comes at a time when the economy is experiencing renewed hope and confidence ushered in by the new economic dispensation, following the formation of a new leaner cabinet by His Excellency, the President, in November 2017.

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August 2017 Monetary Policy

The first half of the year 2017 witnessed a turnaround of the national economy at a time when inflation, underpinned by an expansionary fiscal policy stance, crept out of deflation in February 2017 after two and a half years of a prolonged episode of negative inflation to reach 0.31% in June 2017.

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