Zimbabwe's central bank became the first globally to cut interest rates to 30% from 35% following the US-Iran peace deal, which lowered oil prices and supported inflation control in the nation's latest currency attempt.
Zimbabwe's central bank governor claims the local currency is undervalued, worth twice its current market price.
Zimbabwe's central bank increased gold reserves 198.7 percent to 4.48 tonnes within two years, Africa's fastest growth, bolstering confidence in the newly launched ZiG currency through over US$1.4 billion in backing and reduced inflation volatility.
Zimbabwe's central bank maintains tight monetary policy with a 35% interest rate to ensure macroeconomic stability, but commercial banks warn this constrains credit growth, stalls economic recovery, and leaves a ZiG1.2 billion lending facility largely unutilized despite sector profitability.