Zimbabwe keeps key rate in first meeting since ZiG debut

The monetary policy committee held the key rate at 20% after receiving positive market reaction to the new currency, Governor John Mushayavanhu said.

Zimbabwe’s central bank started circulating ZiG notes and coins among the public, a day after policymakers kept interest rates unchanged at their first meeting since unveiling the new currency.

John Mushayavanhu, governor of Zimbabwe’s central bank, holds up specimens of a new currency unit called ZiG during a news conference in Harare, Zimbabwe, on Friday, April 5. “We expect more notes to go into the market over the next couple of weeks and months to achieve enough circulation,” he said Tuesday by text message. “We are encouraging customers and clients to continue using electronic systems alongside the new notes when making payments.”

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