World’s most aggressive central bank raises key rate to 200%
Zimbabwe’s lifts rate to record high and reintroduces US dollar to rein in surging inflation and stabilise tumbling exchange rate
Zimbabwe’s central bank raised interest rates to a record high and the government officially reintroduced the US dollar as legal currency to rein in surging inflation and stabilise the country’s tumbling exchange rate.
The bank's monetary policy committee more than doubled the key rate to 200% from 80%, governor John Mangudya said this week. That brings the cumulative increase this year to 14,000 basis points — the most globally...