At the meeting held on October 26, 2023, the Monetary Policy Committee (MPC) of the Bank of Botswana maintained the Monetary Policy Rate (MoPR) at 2.65 percent. Headline inflation increased from 1.2 percent in August to 3.2 percent in September 2023, reverting to within the Bank’s medium-term objective range of 3 – 6 percent. The increase in inflation was mainly due to the upward adjustment in domestic fuel prices on September 13, 2023, which increased inflation by 1.31 percentage points. Inflation is forecast at 3.4 percent for October 2023. The MPC projects that, going forward, inflation will remain within the objective range into the medium term.
Read the Press Release attached: