On February 25, the Bank of Botswana launched the Monetary Policy Statement – 2010, which maintains the medium-term (three-year) objective range for inflation at 3 – 6 percent. The statement notes that while prospects for both the global and domestic economies have improved, recovery from the recent downturn remains fragile. Subdued inflationary pressures allow a neutral monetary policy stance that can continue to support economic growth; however, the Bank will continue to guard against upside risks that could jeopardise achievement of the inflation objective. The Governor’s speech at the launch also covered wider issues related to the crisis, including an update on the foreign exchange reserves and the recent revisions to the country’s sovereign credit ratings.