Zimbabwe’s central bank said on Thursday that its monetary policy rate had been kept unchanged at 35%.
Spurred by food and housing prices, Zimbabwe’s inflation rose sharply in January in both U.S. dollar and local currency terms.
It launched a new gold-backed currency in April last year, but it was sharply devalued in September. Since the devaluation, the Zimbabwe Gold (ZiG) currency has fallen further.
It was trading around 26.4 per U.S. dollar on Thursday, according to the central bank’s website. The ZiG was launched at about 13.6 to the dollar. – reuters
