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2nd March: BoBC Auction Results The auction results of the Bank of Botswana Certificates (BoBC) maturing on March 17, 2010 and June 2, 2010 are summarised below.
Note: BoBC 170310 - Bids at and above P99.737 received full allotment. BoBC 020610 - Bids above P98.291 received full allotment while bids at P98.291 received 63.92 percent of the amount applied for. 1st March: The movement of the Pula against major trading currencies was mixed. During February, the Pula depreciated against the yen (2.2 percent), the US dollar (1.6 percent), and the rand (0.2 percent) while it appreciated against the pound (3.7 percent) and the euro (0.9 percent). On an annual basis the Pula appreciated against the US dollar (14.7 percent), yen (14.6 percent), the euro (9.0 percent) and the pound (6.9percent) while it depreciated against the rand (11.8 percent). 1st March: A slight decrease for DCI. The Domestic Company Index (DCI) was at 7 682.48 points on 26th February, down by 16.29 points (0.21 percent) from 7 698.77 points the previous week. A total of 928 963 shares valued at P9559650 were traded. For the year to date, the index has risen by 6.08 percent. 26th February: Bank of Botswana Launches 2010 Monetary Policy Statement On February 25, the Bank of Botswana launched the Monetary Policy Statement – 2010, which maintains the medium-term (three-year) objective range for inflation at 3 – 6 percent. The statement notes that while prospects for both the global and domestic economies have improved, recovery from the recent downturn remains fragile. Subdued inflationary pressures allow a neutral monetary policy stance that can continue to support economic growth; however, the Bank will continue to guard against upside risks that could jeopardise achievement of the inflation objective. The Governor’s speech at the launch also covered wider issues related to the crisis, including an update on the foreign exchange reserves and the recent revisions to the country’s sovereign credit ratings. 24th February: Moody’s retains ratings but revises ratings outlook for Botswana Moody’s Investors Service has released the 2009 sovereign credit rating review for Botswana. While the ratings for both local and foreign currency government bonds have been maintained at A2, the outlook has been revised from ‘stable’ to ‘negative’. This reflects the need for more concerted fiscal consolidation following the recent deterioration of the government's finance resulting from the global economic slowdown.See press release for more details. |
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Khama Crescent, Private Bag 154, Gaborone, Botswana |
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