{"id":20544,"date":"2023-01-24T08:46:42","date_gmt":"2023-01-24T08:46:42","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert"},"modified":"2023-01-24T09:31:06","modified_gmt":"2023-01-24T09:31:06","slug":"interest-rates-hiking-unlikely-expert","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert","title":{"rendered":"Interest Rates hiking unlikely \u2013 Expert"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Kabo Thutwe, Investment Analyst at Kgori Capital has said that the local asset management firm does not expect any bank rate hikes in the near term as the central bank continues to monitor improving inflation levels.<\/b><\/p>\n

The commentary follows the release of consumer price index figures released last week by Statistics Botswana (SB) which showed that the country\u2019s annual inflation slightly went up in December (12.4 %) compared to the 12.2 percent registered in November 2022.<\/p>\n

Thutwe said that the local asset management firm expects domestic inflation to remain elevated but gradually reduce and sustainably trend within the central bank\u2019s objective range from the last quarter of 2024.<\/p>\n

Thutwe said while inflation trended higher for the month on the back of softer growth in transport inflation which grew 0.6 percent month on month primarily driven by a 2.7 percent increase in vehicle prices.<\/p>\n

He also highlighted that inflation will trend lower after a decrease in petrol retail pump prices that were effected on Thursday. As of last week, the Botswana Energy Regulatory Authority (BERA) slashed Retail pump price of unleaded petrol 93 & 95 going down by 96 thebe per litre respectively. The Retail pump price of diesel has also been decreased by 149 thebe per litre.<\/p>\n

While inflation still remains in the double digit, and way above the Bank of Botswana\u2019s upper threshold of 6 percent, the latest figures and developments marks a moment of relief for consumers who watched helplessly as prices rapidly climbed since 2021. The softer readings add to growing signs that the worst inflation bout is steadily waning.<\/p>\n

To tame the spiraling inflation and bring it down to Bank of Botswana\u2019s tolerable range of 3-6 percent, the central bank has effected sharp interest rate increases, rising the monetary policy rate three times this year, from 1.14 percent rate to 2.65 percent. The central bankers have also made a similar projection on the cost of living with the Bank Governor, Moses Pelaelo telling journalists shortly after the 01 December2022 MPC meeting that the projected decrease in inflation into the medium term is due to the dissipating impact of the earlier increases in administered prices, subdued domestic demand, current monetary policy posture, expected decrease in global inflation and international commodity prices. Meanwhile global fuel prices, which have tumbled, are likely to keep lowering overall inflation in the coming months.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Kabo Thutwe, Investment Analyst at Kgori Capital has said that the local asset management firm does not expect any bank rate hikes in the near term as the central bank continues to monitor improving inflation levels. The commentary follows the release of consumer price index figures released last week by Statistics Botswana […]<\/p>\n","protected":false},"author":84,"featured_media":20543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-20544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nInterest Rates hiking unlikely \u2013 Expert - Botswana<\/title>\n<meta name=\"description\" content=\"Kabo Thutwe, Investment Analyst at Kgori Capital has said that the local asset management firm does not expect any ba ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interest Rates hiking unlikely \u2013 Expert\" \/>\n<meta property=\"og:description\" content=\"Kabo Thutwe, Investment Analyst at Kgori Capital has said that the local asset management firm does not expect any ba ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-24T08:46:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-24T09:31:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/01\/postQueueImg_1674537437.23.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1620\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Interest Rates hiking unlikely \u2013 Expert\",\"datePublished\":\"2023-01-24T08:46:42+00:00\",\"dateModified\":\"2023-01-24T09:31:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert\"},\"wordCount\":397,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/01\/postQueueImg_1674537437.23.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/interest-rates-hiking-unlikely-expert\",\"name\":\"Interest Rates hiking unlikely \u2013 Expert - 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