Dr Mushayavanhu told The
Sunday Mail that prices were expected to start declining in the coming
weeks.
“In line with stability observed in the exchange rate, the
increase in the prices of goods has significantly moderated. It seems most
retailers had priced using higher exchange rates, expecting the currency to
continue depreciating on the parallel market.
“As such, the Reserve Bank expects prices of most goods to
also decline in the forthcoming weeks as the exchange rate remains stable. I am
glad to report that the foreign exchange market has been very calm and the
parallel market exchange rate has since stabilised, though still at a high
level, which the Reserve Bank is still convinced that it is not consistent with
the domestic currency liquidity and the available foreign currency in the
economy.
“The Reserve Bank expects the stability to continue in the
near, short and medium term as the recent monetary policy measures take full
effect.
“In fact, given the tight liquidity in the economy, the
Reserve Bank expects the parallel market exchange rate to appreciate in the
near term.”
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