November 18, 2019 / 4:01 PM / 24 days ago

Zimbabwe central bank cuts main lending rate to 35% from 70% -statement

HARARE, Nov 18 (Reuters) - Zimbabwe’s central bank cut its main lending rate to 35% from 70% effective Wednesday after a meeting of the monetary policy committee, which said the inflation outlook was positive despite a recent spike in prices.

The month-on-month inflation rate soared to a four-month high of 38.75% in October from 17.7% the previous month, propelled by a surge in the prices of food and alcoholic beverages.

Reporting by MacDonald Dzirutwe; Editing by Catherine Evans

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