INTRODUCTION AND BACKGROUND
1. This Monetary Policy Statement (MPS) is issued in terms of Section 46 of the Reserve Bank of Zimbabwe Act [Chapter 22:15] (the Act). The Act requires the Governor of the Reserve Bank of Zimbabwe (the Bank) to issue a statement that evaluates prior period monetary policy measures and outlines the monetary policy stance and policies for the subsequent six months, including the motivation for any new policies.
2. Accordingly, this Statement highlights the recent developments in monetary, external and banking sectors as well as policy measures the Bank is implementing in pursuit of price, exchange rate and financial system stability which are the key mandates of the Bank. More importantly, the Statement also outlines the monetary policy stance to be followed by the Bank in the second half of 2022.