RBZ postpones mid-term monetary policy

HARARE - The Reserve Bank of Zimbabwe (RBZ) has postponed the 2013 mid-term Monetary Policy Statement (MPS) to an unspecified date in August.

Gideon Gono, the central bank governor, said in concurrence with Finance minister Tendai Biti, “a post-election MPS will be issued on a date to be advised.”

“Until then, banking-sector players and all stakeholders should go about their business in the normal way...,” he said yesterday.

According to the RBZ Act, Gono is required bi-annually in June and December to submit to Biti the MPS containing a strategy to be followed by the central bank during the next succeeding six months.

Gono said the remaining 2013 half year performance “will to a very large extent depend on the outcome of the harmonised elections”, adding that “the economy desperately needs a clear winner and a peaceful ending to the electoral processes for it to stabilise and prosper.”

President Robert Mugabe squared off with long-time rival Prime Minister Morgan Tsvangirai in the make-or-break poll yesterday, in which a there was a high voter turnout.


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