• Contact
Saturday, September 23, 2023
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    Nigeria finance minister blames Naira’s dive on overdue payments

    Nigeria finance minister blames Naira’s dive on overdue payments

    Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

    Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

    Timeline: Nigeria's electricity grid collapsed 46 times from 2017 to 2023

    Timeline: Nigeria’s electricity grid collapsed 46 times from 2017 to 2023

    Trending Tags

  • Business
    Virgin Active to expand office space and meeting rooms in gyms

    Virgin Active to expand office space and meeting rooms in gyms

    Dangote, Bua show grit amid global sugar crises

    Dangote, Bua show grit amid global sugar crises

    800 million+ carats of diamonds in Angola reserves

    800 million+ carats of diamonds in Angola reserves

    Hindenburg 2.0? George Soros-backed group plans 'expose' on Indian firms: Report

    Hindenburg 2.0? George Soros-backed group plans ‘expose’ on Indian firms: Report

    Viktor Bout still has his eye on Africa

    Viktor Bout still has his eye on Africa

    SADC countries may benefit from ANGOSAT 2

    SADC countries may benefit from ANGOSAT 2

    US puts $235m in startup making low-emission jets

    US puts $235m in startup making low-emission jets

    Amazon opens its first African AWS Skills Center in South Africa

    Amazon opens its first African AWS Skills Center in South Africa

    Kenya: BasiGo launches its new “E9 Kubwa” electric bus model

    Kenya: BasiGo launches its new “E9 Kubwa” electric bus model

  • Finance
    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    Nigeria finance minister blames Naira’s dive on overdue payments

    Nigeria finance minister blames Naira’s dive on overdue payments

    Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

    Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

    Timeline: Nigeria's electricity grid collapsed 46 times from 2017 to 2023

    Timeline: Nigeria’s electricity grid collapsed 46 times from 2017 to 2023

    Trending Tags

  • Business
    Virgin Active to expand office space and meeting rooms in gyms

    Virgin Active to expand office space and meeting rooms in gyms

    Dangote, Bua show grit amid global sugar crises

    Dangote, Bua show grit amid global sugar crises

    800 million+ carats of diamonds in Angola reserves

    800 million+ carats of diamonds in Angola reserves

    Hindenburg 2.0? George Soros-backed group plans 'expose' on Indian firms: Report

    Hindenburg 2.0? George Soros-backed group plans ‘expose’ on Indian firms: Report

    Viktor Bout still has his eye on Africa

    Viktor Bout still has his eye on Africa

    SADC countries may benefit from ANGOSAT 2

    SADC countries may benefit from ANGOSAT 2

    US puts $235m in startup making low-emission jets

    US puts $235m in startup making low-emission jets

    Amazon opens its first African AWS Skills Center in South Africa

    Amazon opens its first African AWS Skills Center in South Africa

    Kenya: BasiGo launches its new “E9 Kubwa” electric bus model

    Kenya: BasiGo launches its new “E9 Kubwa” electric bus model

  • Finance
    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Economy

Zimbabwe to retain old inflation gauge for rate decisions

The local-currency gauge stood at 229.8% in January and prices rose 1.1% in the month.

TAB by TAB
08/03/2023
in Economy
0
Zimbabwe to retain old inflation gauge for rate decisions
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Zimbabwe’s monetary authority won’t switch to using a new inflation gauge to determine interest rates, despite the statistics agency having adopted it as its main price reference, an official said.

Following the publication of a notice by Finance Minister Mthuli Ncube on Friday, the statistics office began referencing the blended consumer price index, which tracks prices in both US and Zimbabwean dollars, rather than the benchmark headline rate that assesses costs in local-currency terms. The change was spurred by an increase in US dollar-based transactions, estimated at more than 75% of the total, as citizens turn to greenbacks to pay for everything from food, fuel, and school fees.

Related posts

Nigeria finance minister blames Naira’s dive on overdue payments

Nigeria finance minister blames Naira’s dive on overdue payments

22/09/2023
1
Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

16/09/2023
2

“The Zimbabwean dollar interest rate will remain,” Persistence Gwanyanya, a member of the central bank’s monetary policy committee, said in an interview on Tuesday. The local-currency inflation rates will be available to policymakers and continue to “guide” them in setting the benchmark interest rate, he said.

The southern African nation last month cut its benchmark interest rate to 150%, the world’s highest, from 200% on expectations that a downward trend in inflation will continue.

The annual blended inflation rate in February fell to double digits for the first time since July and monthly price growth was -1.6%, the first negative reading since September 2020, according to data from the Zimbabwe National Statistics Agency. The local-currency gauge stood at 229.8% in January and prices rose 1.1% in the month. The February data has yet to be published.

Source: Bloomberg
Previous Post

20 millions underserved people in Africa to be connected by 2025

Next Post

Adidas hasn’t decided whether it’s going to take a $526 million hit from not selling remaining Yeezys

Next Post
Adidas hasn’t decided whether it’s going to take a $526 million hit from not selling remaining Yeezys

Adidas hasn't decided whether it's going to take a $526 million hit from not selling remaining Yeezys

RECOMMENDED NEWS

Investing $100 billion annually: Africa's ambitious path to clean energy by 2040

Investing $100 billion annually: Africa’s ambitious path to clean energy by 2040

2 months ago
6
Ghanaian fintech SecondSTAX raises $1.6m pre-seed funding to expand to other countries

Ghanaian fintech SecondSTAX raises $1.6m pre-seed funding to expand to other countries

12 months ago
5
Angolans vote to pick president, MPs Wednesday

Angolans vote to pick president, MPs Wednesday

1 year ago
3
Dramatic much? Machine Gun Kelly once stabbed himself while trying to woo Megan Fox

Dramatic much? Machine Gun Kelly once stabbed himself while trying to woo Megan Fox

2 years ago
3

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business - News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • Kenya seeks partnership with Apple
  • List of African countries and how much of their salaries they spend on iPhones
  • Nigeria finance minister blames Naira’s dive on overdue payments

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In