Zimbabwe's central bank lowered its key rate to 27.5% from 30% in a move that bucks the global keep- rates -high mood. It is the second reduction since the bank recalibrated its policy stance in April 2024 following the launch of a new currency. That unit, called ZiG (short for Zimbabwe Gold ), took the place of the struggling Zimbabwean dollar and marks the country's sixth try at a stable local currency since 2009. Announcing the Monday decision, Mushayavanhu said the cut came "in view of the continued benign inflation environment and the need to support the economy's strong growth prospects.
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