Dr. John Mushayavanhu, the newly appointed Governor of the Reserve Bank of Zimbabwe (RBZ), is set to unveil the highly anticipated 2024 Monetary Policy Statement (MPS) this afternoon.
Expectations are high that the central bank chief will introduce policy measures aimed at stabilizing the domestic currency and curbing the escalating inflation.
Dr. Mushayavanhu will deliver his inaugural MPS after assuming office officially last week. The policy’s release, typically expected by the end of February, was delayed to facilitate broader consultations.
Dr. John Mushayavanhu’s tenure commences amidst persistent depreciation of the Zimbabwe dollar, necessitating frequent adjustments to prices, tariffs, and service charges by all economic stakeholders.
The Confederation of Zimbabwe Industries warns that currency depreciation imperils the survival of the domestic currency, making the business environment challenging.
Businesses and individuals alike hope the new central bank chief will announce measures swiftly restoring the domestic currency’s value preservation function.
Among anticipated MPS solutions is the structured currency proposed by President Mnangagwa in February, aiming to address currency stability.