Central Bank Cuts Rates Against Global Tide as Iran Risks Persist

Zimbabwe's central bank reduced its interest rate for a second time in a row, bucking a global trend toward keeping borrowing costs higher for longer as the US-Iran stand-off keeps energy prices elevated. The monetary policy committee lowered the benchmark interest rate to 27.5% from 30% 'in view of the continued benign inflation.' Business and economic analysts say Zimbabwe's borrowing costs remain too high for an economy that needs wider access to credit to support investment and expansion.