Lesotho Holds Interest Rate Steady at 6.5%

The Central Bank of Lesotho left unchanged its key policy rate at 6.5% during its November meeting.

Policymakers noted that consumer price inflation decelerated in October 2019 while growth remained weak, and affirmed that main risks to the domestic economic outlook include exposure to global economic developments, weak domestic economic activity on the back of structural rigidities and policy uncertainty.

Meantime, the bank said that will continue to monitor the global developments and their likely impact on domestic macroeconomic conditions, especially net international reserves, with the aim of taking corrective action when needed.