Botswana: June inflation slows to 7.0%

  1. Posted on Wednesday 15 July 2009 - 15:58
    AfricaNews editor
    AfricaNews Business desk
    Botswana's consumer inflation slowed to 7.0 percent year-on-year in June from 8.4 percent in May, the Central Statistics Office announced on Wednesday. The southern African country cut its key lending rate by 150 basis points to 11.5 percent in June on concerns about a weak economy.
    Makgadikgadi Pans, Botswana
    Central bank Governor Linah Mohohlo said in a Reuters report that last month Botswana had room for further cuts in interest rates because of easing inflation.

    Since independence, Botswana has had one of the fastest growth rates in per capita income in the world. The country has transformed itself from one of the poorest countries in the world to a middle-income country, according to Wikipedia.

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