THE Reserve Bank of Zimbabwe (RBZ) continues to make significant strides in stabilising the economy, with the latest figures showing annual inflation declining to 32 %.
According to the Central Bank, the sustained drop in inflation reflects ongoing policy measures aimed at strengthening the local currency and maintaining price stability.
Projections indicate that year-on-year inflation could fall further to around 20 % by year-end, underscoring the RBZ’s commitment to restoring confidence and fostering economic resilience.
Year-on-year inflation for October has dropped massively from 82.5 % last year to 32.7 % as a stable macro-economic environment continues to persist.
The ZiG currency, which was introduced last year in April, has enjoyed the longest run of stability since October last year, when the country experienced a one-off spike in prices, following the 40 % devaluation of the ZiG currency.
Since then, a tight monetary policy stance pursued by the Central Bank, coupled with a steady accumulation of foreign currency and gold reserves, which is now nearing US$1 billion, has provided huge impetus in the gold-backed ZiG currency in terms of stability.
The increased acceptance and functionality of the ZiG has also created confidence and a general positive sentiment, a key enabler of economic growth and development.
