Impact Of High Interest Rates On The Economy: Case Of Zimbabwe

Zimbabwe will keep world’s highest interest rate of 200% into next year as it priorities economic stability ahead of high economic growth rate, according to the Minister By Clemence Mupfunya The central bank of Zimbabwe, the Reserve bank of Zimbabwe (RBZ) is tasked with maintaining a certain level of stability within the country’s financial sector. Specific tools are afforded the RBZ that allow for changes to broad monetary policies intended to implement the government planned monetary and fiscal policies. These include the management and oversight of the production and distribution of the nation’s currency, the promotion of economic and employment growth through the implementation of changes to the discount rate and the sharing of information and statistics with the public. The most influential economic tool the central bank has under its control is the ability to increase or decrease the discount rate.

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