At its meeting today, the Monetary Policy Committee (MPC) maintained the Bank Rate at 9.5 percent. Short-term price developments, including higher forecasts for food and oil prices, imply that it will now take longer for inflation to fall within the Bank of Botswana’s objective range of 3-6 percent. Nonetheless, the MPC concluded that maintaining the prevailing level of interest rates is consistent with achieving the objective in the medium term. For more information, see press release.