The Bank of Botswana has published the Mid-Term Review of the 2013 Monetary Policy Statement. Domestically, subdued fiscal stimulus, sluggish income growth and below-trend performance of the economy will constrain demand pressures on inflation. External price pressures are expected to remain generally benign in the context of restrained world economic activity, modest commodity price inflation and the dampening impact of low levels of capacity utilisation, high rates of unemployment and well-anchored inflation expectations in major economies. Against this background, it is expected that inflation will remain within the 3 – 6 percent objective range in the second half of 2013.

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