Botswana

The rate of inflation remained at 10.6% in February, unmoved from January, with marginal price movements of various goods and services between the two months, a Statistics Botswana report released today indicates.

Bank of Botswana Governor, Moses Pelaelo, says the central bank forecasts the domestic economy to grow by 8.8 percent this year.

Botswana's central bank left its benchmark bank rate steady for the second time to maintain an accommodative monetary policy stance, saying it expects the economy to operate below full capacity in the short and medium-term and thus not create any inflationary pressures and a forecast rise in inflation this year is partly due to transitory factors.

Moody's Investors Service, ("Moody's") has affirmed the Government of Botswana's A2 long-term local and foreign currency issuer ratings. The outlook remains stable.