Zimbabwe central bank chief touts price stability amid oil shocks

Reserve Bank Governor John Mushayavanhu credited single-digit inflation and exchange rate stability for shielding Zimbabwe from Middle East oil price shocks, per NewZimbabwe.com. Delivering the mid-term monetary policy statement on August 22, he noted the ZiG currency held steady from January through July. But businesses warn the stability is fragile, propped up by tight monetary controls and low demand. Any external shock or policy misstep could reignite hyperinflation. The vulnerability: Zimbabwe's economic recovery remains dependent on continued tight policy and favorable global conditions.