Monetary Policy Statement Analysis
On the 20 th of February 2019, the Reserve Bank of Zimbabwe unveiled its annual Monetary Policy Statement. The economy was slowly headed towards the Venezuela route and this statement needed to inject some much-needed life into it and redirect its fortunes. To some extent that took place but to a greater extent it seems to be another attempt at addressing symptoms and not root causes. A case of treating without curing. Below we shall outline some of the measures taken by the RBZ and their corresponding effects for the ordinary man and woman. Positives The Establishment of an Interbank Forex Market · This means that it is no longer illegal to trade foreign currency and you won’t be facing 10 years in jail for it. You may simply visit your local bank and purchase the forex you need with your RTGS balance at the prevailing free market rate for the day. However, this is subject to you proving why you need the forex to the RBZ. We are ...