BoB dumps yearly inflation targeting
Wednesday, February 27, 2008
Presenting the 2008 monetary policy statement in Gaborone on Monday, BoB Governor Linah Mohohlo announced that the bank has also abandoned tasking itself with setting and achieving an annual inflation objective, arguing that the price stability objective can only be achieved in the medium term (a rolling three year period), in recognition of the time lag for monetary policy to impact on price developments.
This abandonment of a short-term horizon in inflation rate targeting comes against the background of the bank having failed to achieve its 4 to 7 percent target in 2007. The annual inflation rate stood at 8.1 percent in December 2007.
Figures released by the country’s electoral management body have shown that a total of 1, 037, 684 people have registered to vote.However, eligible voters could be discouraged by events leading to the voting day like poor execution of advance voting amid talks that the elections could be unfair.There have also been threats by certain opposition politicians that shall the elections not be free and fair, they will halt them.Despite these...