Mangudya allays inflation fears


HARARE - In a bid to reassure the mining sector that inflation will remain in check, Reserve Bank of Zimbabwe governor John Mangudya yesterday said he does not expect it to go up due to sound policies and vision 2030 that the government is pursuing.

This comes after Zimbabwe’s October inflation raced to 20,85 percent year-on-year from 5,39 percent in September — its highest since 2008 following a surge in prices of most basic commodities.

“I would like us to focus on the positive growth and let others talk about the negatives,” Mangudya said in a Chamber of Mines report on The State of the Mining Industry Report 2018.

“The inflation rate increase was just a passing cloud and we expect stability to start as you can see that the shops are stocked and we no longer have panic buying like before.”

Mangudya also told the miners that the government maintains its standpoint that bond notes and US dollars are at parity and indicated that he was confident in the stabilisation of the economy.

Comments (3)

JUST A PASSING CLOUD????? WE WISH HIS TENURE AT RBZ WAS A PASSING CLOUD. KUSHAYA NYADZI CHAIKO.

Camilla Kasinayo - 20 November 2018

Just like anyone in zanupf Mangudya lost credibility a longtime ago anything he says is bull-dust.

Sinyo - 21 November 2018

Listening to any member of Zanu PF speaking is a waste of life. Not much thought goes into what they say.

Sparta - 21 November 2018

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