Monetory policy presentation on Wednesday

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    The Reserve Bank of Zimbabwe (RBZ) is set to present the first half Monetary Policy statement this Wednesday amid calls for the central bank to come up with measures that boost market confidence.

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    RBZ

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    The presentation of the Monetary Policy statement follows the introduction of bond coins on the market last December with a view to boost the country’s competitiveness through proper pricing structures.

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    The financial services sector is also constrained as depositors are running out of confidence as banks continue to struggle to remain afloat, hence the need for the central bank to come up with measures to address weak corporate governance.

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    The central bank chief, Dr John Mangudya is expected to consolidate the bank’s position regarding the benefit of bond coins which have been cited as critical in ensuring the country gets the real value of the United States dollar.

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    Zimbabwe’s economy is facing liquidity constraints, uncompetitive products on the market owing to high interest rates, weak corporate governance structures, among other constraints forcing local manufacturing firms to scale down operations.