Botswana's central bank cut its Bank Rate by 50 basis points to 8.50 percent, saying the economy is growing below potential and unemployment is high and this "provides an opportunity for non-inflationary stimulus to the economy."
Botswana's economy grew by 1.2 percent quarter-on-quarter in the second quarter of this year after rising by a similar margin in the first quarter, data from the Central Statistics Office showed on Tuesday.
On a year-on-year basis growth was at 8.4 percent in the second quarter compared with a revised 6.7 percent in the previous quarter.
The statistics agency revised annual growth for 2011 to 8.0 percent compared with 8.1 percent for 2010. It changed the base year for the GDP data to 2006 from the previous 1993/94.
Source: Reuters
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