THE Reserve Bank of Zimbabwe has been urged to align interest rates on savings and time deposit accounts with annual inflation rates to revive the country’s savings culture.
In its latest Monetary Policy Statement, the central bank raised interest rates for savings accounts from 3,5 percent to five percent for ZiG and from one percent to 2,5 percent for US$.
Time deposit interest rates also increased from 5 percent to 7,5 percent for ZiG and from 2,5 percent to four percent for US$.