As a direct response to resurgent inflation, the monetary
authorities this week moved in to harness inflationary pressures and stabilise
the volatile parallel market exchange rate by increasing key interest rates and
cutting down the quarter target for money supply growth.
While month-on-month inflation declined from 6,99 percent
in February 2022 to 6,31 percent in March 2022, authorities are concerned with
the rise in annual inflation from 66,77 percent to 72,70 percent.
According to a Government Gazette, the monetary authorities
are introducing the $100 note in terms of section 40 (3) of the RBZ Act
(Chapter 22:15).
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