In an exclusive interview with TechnoMag, Reserve Bank of Zimbabwe (RBZ) Governor Dr John P. Mangudya has called for Zim Dollar pricing.This was after Dr.Mangudya responded to questions from legislators after presenting his paper on,“Monetary Policy complementing Fiscal Policy towards Vision 2030: Implications on the 2022 national Budget”.
Governor Mangudya also said inflation will continue declining to lower single digit levels by December 2022, a move that will assist in value preservation and guarantee certainty in budget allocations.
Dr Mangudya said the RBZ will continue to take appropriate measures to
ensure that foreign currency allotments were settled timeously and will pursue a strict monetary targeting framework to ensure that money supply does not destabilise the exchange rate.
Mangudya added that the bank will also ensure that truant behaviour in the economy was minimised.
“(We will) support domestic savings in local currency through instruments that
compensate local currency depositors for potential exchange rate depreciation;
encourage banks to set appropriate interest rate margins for savings and time deposits to
improve the appeal of the Zimbabwean dollar as a value preservative currency and
continue to encourage banks to streamline bank charges to stimulate foreign currency
deposits by the banking public,” Dr Mangudya added.