March 26, 2020 / 4:37 PM / 14 days ago

Zimbabwe central bank cuts main lending rate to 25%

HARARE, March 26 (Reuters) - Zimbabwe central bank cut its main lending rate to 25% from 35% on Thursday as part of measures to support the economy as it braces for the coronavirus pandemic, governor John Mangudya said.

Mangudya said in a statement the central bank would ditch a floating exchange rate system adopted two weeks ago in favour of a fixed exchange regime to maintain price stability. (Reporting by MacDonald Dzirutwe; editing by Olivia Kumwenda-Mtambo)

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