High bank charges exposed

According to NewsDay, “Following public outcry over high service charges, the Reserve Bank of Zimbabwe (RBZ) and banking institutions signed a memorandum of understanding (MOU), which provides guidelines for the determination of interest rate margins and bank charges.” From the article: Banks are now required to pay an interest of 4% for time deposits of…

Consumer Inflation Slows – NewsDay

From today’s NewsDay: Figures released by the Zimbabwe National Statistical Agency on Monday indicated that the year-on-year food and non-alcoholic beverages inflation stood at 3,85%, while non-food inflation stood at 2,61%. Month-on-month inflation in November was 0, 13% dropping 0,13 percentage points on the prior month rate of 0,26%. The month-on-month food and non-alcoholic beverages…