April 29, 2020 / 3:40 PM / a month ago

Zimbabwe central bank to cut main lending rate to 15% from May 1

HARARE, April 29 (Reuters) - Zimbabwe’s central bank said on Wednesday it would cut its main lending rate to 15% from 25% effective May 1 as part of measures to help the economy deal with the effects of the coronavirus outbreak.

The southern African nation’s economy was already experiencing its worst crisis in a decade, with fast rising inflation and shortages of food and other basic goods. (Reporting by MacDonald Dzirutwe; editing by Emma Rumney)

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