Rates To Remain On Hold In H112

BMI View: We expect the Bank of Botswana (BoB) to keep the benchmark interest rate on hold at 9.50% for the first half of 2012, as it has done since a 50bps cut in December 2010. This is driven by the BoB's aims to support economic growth in the non-mining sector, as well as a delay in a rate hiking cycle in South Africa.

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