2026 Monetary Policy Statement

...Going forward, the Reserve Bank will continue to align money supply growth with real economic activity, while ensuring that liquidity conditions remain consistent with the inflation objective of preserving ZiG stability and ensuring sustainable economic growth. 

The monetary policy framework will remain anchored on transparency, market-based instruments and strict adherence to foreign reserves management principles. The Reserve Bank will also enhance coordination with fiscal authorities to ensure that monetary and fiscal policies remain mutually reinforcing...

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2025 Mid-term Monetary Policy Statement

In line with the need to ensure that there is policy consistency as the Reserve Bank continues to walk the talk, this Mid-Term Monetary Policy Review Statement restates previously announced measures and introduces complementary measures to buttress and provide further clarity. The measures are, therefore, designed to durably anchor and consolidate the prevailing exchange rate and price stability by addressing emerging risks and continue to shape inflation expectations. 

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2025 Monetary Policy Statement

Greater exchange rate flexibility in the foreign exchange interbank market, anchored by tight monetary conditions, has supported the current stability. Specifically, strategic foreign exchange interventions by the Reserve Bank have helped clear the market and enabled the smooth flow of foreign exchange to the market. The ReserveBank will continue to deepen the Willing-Buyer Willing-Seller (WBWS) foreign exchange interbank market to enhance price discovery and market efficiency

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2024 Monetary Policy Statement

The Reserve Bank is introducing a structured currency which is generally defined as a currency that is pegged to a specific exchange rate or currency basket and backed by a bundle of foreign exchange assets (potentially including gold). This means that a Central Bank can only issue domestic notes and coins when fully backed by a foreign “reserve” currency or foreign exchange assets and that the currency is fully convertible into the reserve currency on demand. The structured currency being introduced is anchored by a composite basket of foreign currency and precious metals (mainly gold) held as reserves for this purpose by the Reserve Bank.

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