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Zimbabwe’s central bank expects inflation to fall to 55% by July

Zimbabwe’s central bank said Tuesday it expects annual inflation to further decline and reach a low of 55 percent by July 2021.The bank was also satisfied with the disinflationary trend, as inflation had fallen from a peak of 837.53 percent in July last year to 194 percent last month, the monetary policy committee (MPC) of the Reserve Bank of Zimbabwe said in a statement.“The committee reaffirmed its commitment to sustaining the disinflationary path to the end of the year and expects year-on-year inflation to go down to below 55 percent by July 2021,” the bank said.Zimbabwe’s annual inflation has been on a downward trend since August 2020 following the introduction of a foreign exchange auction trading system in June of that year that has helped to bring stability to the foreign exchange market.

Source: Further Africa

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