Add files using upload-large-folder tool

dedup/cb_requests/020199dffb1369f155f175146557942c.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/Monthly_Economic_Reviews/Monthly-Economic-Review-May-2022.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "Monthly-Economic-Review-May-2022.pdf", "subfolder": "SARB\\Monthly_Economic_Reviews", "token_count": 14481}

dedup/cb_requests/0256137b6fffdd4b45df3fb3f150300b.json

@@ -0,0 +1 @@
+{"doc_id": "0256137b6fffdd4b45df3fb3f150300b", "text": "MPC Statement 20 July 2023 \nPage 1 \n \n \n \n \nPRESS STATEMENT \n20 July 2023 \n \n \nSTATEMENT OF THE MONETARY POLICY COMMITTEE \n \nIssued by Lesetja Kganyago, Governor of the South African Reserve Bank \nAs we enter the second half of 2023, near term prospects for the global economy are \nbroadly unchanged, with inflation easing and growth forecasts stable. The longer-term \neconomic outlook however remains clouded by risks to the inflation trajectory, ongoing \ngeopolitical tensions and the effects of climate change. China’s growth performance \nis expected to remain modest, with little benefit to commodity prices.1 In the \ndeveloping world, many economies face high debt levels, weaker economic growth \nand prolonged adverse financing conditions. As a result, Sub-Saharan Africa’s growth \nprospects remain muted. \nWhile goods price inflation has eased in much of the world, core inflation remains \nelevated, keeping consumer price inflation from falling more sharply. Globally, \n \n1 Commodity export prices in USD terms fell by 0.9% in 2022. South Africa’s commodity export index is forecast \nto decline by 27.6% this year, a further 11.5% in 2024, and an additional 5.4% in 2025. \nMPC Statement 20 July 2023 \nPage 2 \n \nmonetary policy is likely to remain focused on ensuring inflation continues to retreat, \nimplying policy rates will stay higher. We expect markets in major financial centers to \nremain volatile. \nTaking these and other factors into account, the SARB’s forecast for global growth in \n2023 is revised marginally higher to 2.5% (from 2.4%), and remains unchanged at \n2.7% in 2024.2 \nWhile South Africa’s economic conditions appear to have improved, the longer-term \noutlook mirrors the uncertainty of the global environment. Prices for commodity \nexports continue to weaken. In addition, energy supply remains unreliable and \nstronger El Nino conditions threaten the agricultural outlook. \nFor 2023, the Bank’s forecast for South Africa’s GDP growth is slightly higher than in \nMay, at 0.4% (from 0.3%). Energy and logistical constraints remain binding on the \ngrowth outlook, limiting economic activity and increasing costs.3 \nFrom a demand perspective, spending by firms, households, public corporations and \ngeneral government remains positive in real terms. Disposable income of households \ncontinues to grow, albeit slowly. Investment by the private and public sectors is \nrevised up and the terms of trade has remained more beneficial than previously \nforecast. Debt service costs of households have increased to 8.4% of disposable \n \n2 Global growth in the QPM model is a trade-weighted average of South Africa’s trading partners. \n3 The number of days of expected load-shedding is 280 days in 2023, decreasing to 150 days and 100 days, \nrespectively in 2024, and 2025. Estimates of the average stages of load-shedding is multiplied by the number \nof days and then multiplied by the cost to GDP per stage-day. The cost per stage has been revised lower for \nstages 1 and 2. In nominal terms, these costs vary between R0-R1.2 million for stages 1 and 2 and up to R204-\nR899 million for stages 3 to 6, when continued on a 24 hour basis on weekdays. \nMPC Statement 20 July 2023 \nPage 3 \n \nincome, and now sit at around the average for the past decade.4 Although credit \ngrowth to households and corporates has slowed in recent months, it has increased \nin real terms compared to last year. \nOur GDP growth forecast for 2024 and 2025 is unchanged from the previous meeting, \nat 1.0% and 1.1%, respectively.5 \nWhile households and firms exhibit resilience, economic growth has been volatile for \nsome time and highly sensitive to new shocks. An improvement in logistics and a \nsustained reduction in load-shedding, or greater energy supply from alternative \nsources, would significantly increase growth. \nAt present, we assess the risks to the medium-term domestic growth outlook to be \nbalanced. \nTurning to inflation prospects, our current growth forecast leaves the output gap \naround zero over the next three years, implying little positive or negative pressure on \ninflation from GDP growth.6 \nSouth Africa’s external financing needs are expected to rise due to expansion in the \ncurrent account deficit. Despite somewhat lower oil prices, falling export commodity \nprices are forecast to result in a current account deficit of 1.9% of GDP this year (down \nfrom 2.5%), 2.9% and 3.3% of GDP in 2024 and 2025, respectively.7 \n \n4 Debt service costs are the product of prevailing interest rates and debt volumes. The average from 1994 to \n2019 was 8.8%. From the beginning of the pandemic until March 2023, the average was 7.4%. In the last \nquarter of 2022, the average was 7.9%. \n5 The growth forecast includes expected changes in the policy rate as given by the QPM. \n6 Potential growth is revised marginally, to -0.1% in 2023 (up from -0.2%), and is unchanged at 0.8% for 2024 \nand 1.0% for 2025. \n7 In May, a current account balance of -2.5% of GDP was expected for the forecast period. Exports are forecast \nto grow in real terms by 6.2% this year (from 1.8%) and 3.4% in 2024. Our oil price forecast is also slightly \nMPC Statement 20 July 2023 \nPage 4 \n \nSharply lower tax revenue, higher employee compensation and ongoing financing \nneeds of state-owned enterprises are likely to keep the long-term cost of borrowing \nelevated. Despite the expected moderation of inflation over the forecast period, long-\nterm bond yields currently trade at about 11.6%. \nThe rand has generally weakened over the past year, depreciating by about 5% year \nto date against the US dollar, and showing high volatility in response to risk-on and \nrisk-off episodes. The implied starting point for the rand forecast is R18.52 (23q3) to \nthe US dollar, compared with R18.73 at the time of the previous meeting. \nThe trajectory of South Africa’s headline inflation rate has been shaped primarily by \nfuel, electricity and food price inflation. Compared to the previous meeting, fuel price \ninflation is lower at -3.1% in 2023 (from -2.0%). The electricity price forecast is \nunchanged at 11.6% this year, 13.4% in 2024, and 10.9% in 2025. Our food price \ninflation forecast for 2023 remains high but is revised lower in this meeting to 10.3% \n(from 10.8%), and up slightly to 5.2% in 2024 (from 5.0%). \nBetter monthly outcomes have led to a downward revision in our forecast for core \ninflation to 5.2% in 2023 (previously 5.3%), 4.9% (from 5.0%) and 4.5% (from 4.6%) \nin 2024 and 2025, respectively. Services price inflation in 2023 is expected to come in \nat 4.8% (down from 4.9%). Core goods inflation, while still elevated, is also revised \n \nlower than in May, averaging US$81 per barrel in 2023, and unchanged at US$82 for 2024 and US$80 for \n2025. \nMPC Statement 20 July 2023 \nPage 5 \n \nslightly lower for this year at 6.2% (from 6.3%).8 Growth in average salaries and unit \nlabour costs is lower in 2023 and 2024 and slightly higher in 2025.9 \nWith core goods and food inflation lower in the near term, headline inflation for 2023 \nis revised down to 6.0% (from 6.2%). The headline inflation forecast for 2024 also \ndecreases to 5.0%, before stabilising at 4.5% in 2025. \nRisks to the inflation outlook are assessed to the upside. Headline inflation at a global \nlevel continues to moderate, but food price inflation remains high and oil markets \nremain tight. Despite recent easing in some food price components, domestic food \nprice inflation is still elevated at 11% in June and the risk of drier weather conditions \nin coming months has increased. In the absence of sustained and consistent \nincreases in energy supply, electricity prices continue to present clear inflation risks. \nLoad-shedding and logistics constraints may also have broader effects on the cost of \ndoing business and the cost of living. Given uncertain fuel and food price inflation, \nconsiderable risk still attaches to the forecast for average salaries. \nSticky inflation in major economies suggests that average interest rates in these \neconomies will remain high.10 As a result, tighter global financial conditions are likely \nto persist, raising the risk profile of economies needing foreign capital. \nHigher inflation outcomes have generally resulted in elevated inflation expectations \nacross businesses and households, while market-based expectations have eased \n \n8 Core goods refers to total CPI goods excluding food and NAB, fuel and electricity, whereas services include all \nsurveyed services within the CPI basket. Core goods inflation is expected to be 5.1% in 2024 and 4.3% in 2025. \n9 Average salaries are expected to rise by 6.6% in 2023, 6.1% in 2024, and by 5.2% in 2025, compared to 6.8%, \n6.5%, and 4.9%, at the time of the May meeting, respectively. Unit labour costs are forecast to rise by 6.0%, \n5.3% and 4.6%, respectively, in 2023, 2024, and 2025. \n10 G3 interest rates average 4.0% in 2023, 3.9% in 2024, and 2.6% in 2025. \nMPC Statement 20 July 2023 \nPage 6 \n \nrecently.11 The Bureau for Economic Research survey released in July shows average \ninflation expectations of 6.5% for 2023 (from 6.3% in the first quarter). Expectations \nfor inflation in 2023 based on market surveys are currently 5.9%, and near-term break-\neven rates have decreased to around 4.5%.12 Longer-term expectations remain \nelevated. \nHeadline inflation returned to the upper end of the inflation target range in June, and \nis forecast to sustainably revert to the mid-point of the target range by the third quarter \nof 2025. The forecast takes into account the policy rate trajectory indicated by the \nBank’s Quarterly Projection Model (QPM). \nAgainst this backdrop, the MPC decided to keep the repurchase rate at its current level \nof 8.25% per year. Three members of the Committee preferred to keep rates on hold \nand two preferred an increase of 25 basis points. \nAt the current repurchase rate level, policy is restrictive, consistent with elevated \ninflation expectations and the inflation outlook. Serious upside risks to the inflation \noutlook remain. In light of these risks, the Committee remains vigilant and decisions \nwill continue to be data dependent and sensitive to the balance of risks to the outlook. \nThe policy stance aims to anchor inflation expectations more firmly around the mid-\npoint of the target band and to increase confidence of attaining the inflation target \nsustainably over time.13 The MPC will seek to look through temporary price shocks \n \n11 The BER Q2 2023 survey of inflation expectations indicated inflation at 6.5% in 2023 (up from 6.3% in Q1) \nand 5.9% for 2024 (up from 5.8% in Q1) and 5.6% in 2025. \n12 At the median, market analysts (Reuters Econometer) in July expect inflation to remain at 5.9% in 2023, \n4.9% in 2024 and 4.4% in 2025 (from 4.6%). Market-based rates are calculated from the break-even inflation \nrate, which is the yield differential between conventional and inflation-linked bonds. The 10-year breakeven \nnow sits at about 6.1%. The 15-year break-even inflation rate sits at 7.3%. \n13 The forecasted trajectory for the repurchase rate implies a rise in the inflation-adjusted repo rate from -1.4% \nin 2022, to 2.7% in 2023, and 3.0% in 2024. The real repo level for 2025 is expected to be 2.7%. The real \nMPC Statement 20 July 2023 \nPage 7 \n \nand focus on potential second round effects and the risks of de-anchoring inflation \nexpectations. \nGuiding inflation back towards the mid-point of the target band reduces the economic \ncosts of high inflation and will achieve lower interest rates in the future. Since early \n2020, the Committee has recommended additional and indirect means of lowering \ninflation that are within the reach of the public sector, including achieving a prudent \npublic debt level, increasing the supply of energy, moderating administered price \ninflation and keeping wage growth in line with productivity gains. Such steps would \nstrengthen monetary policy effectiveness and its transmission to the broader \neconomy. \nThe repo rate projection from the updated QPM remains a broad policy guide, \nchanging from meeting to meeting in response to new data and risks. \n \nLesetja Kganyago \nGOVERNOR \nThe next statement of the Monetary Policy Committee will be released on 21 \nSeptember 2023. \n \nContact person: \nThoraya Pandy \n0824168416 \nmedia@resbank.co.za \n \nrepurchase rates calculated here are based on the 3-quarter ahead inflation forecast and are annual average \nrates.", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/Statement of the Monetary Policy Committee July 2023.pdf"}

dedup/cb_requests/0267ee36f9ecd87c350e5a393a520f28.json

@@ -0,0 +1 @@
+{"doc_id": "0267ee36f9ecd87c350e5a393a520f28", "text": "[Date] \n \n \n \n \nMAY 2015 \n \n \ni \n \nMONTHLY ECONOMIC REVIEW \nTABLE OF CONTENTS \nSELECTED ECONOMIC INDICATORS ________________________________________ 1 \nSTOCK MARKET DEVELOPMENTS __________________________________________ 2 \nMONETARY DEVELOPMENTS ______________________________________________ 2 \nINFLATION OUTTURN ______________________________________________________ 4 \nAnnual Inflation __________________________________________________________________ 4 \nMonthly Inflation _________________________________________________________________ 5 \nNATIONAL PAYMENTS SYSTEM ____________________________________________ 5 \nZimbabwe Electronic Transfer Settlement System (ZETSS) ______________________________ 5 \nCard Based Transactions ___________________________________________________________ 5 \nMobile and Internet Based Transactions ______________________________________________ 5 \nCheque Transactions ______________________________________________________________ 6 \n \n \n \n \n \n \n1 \n \nMONTHLY ECONOMIC REVIEW \n \n \n \n2015 \nApril \n2015 \nMay \nMonth-on- \nMonth \nChange \nZ.S.E. Mining Index1 \n42.93 \n44.45 \n3.54% \nZ.S.E. Industrial Index1 \n156.23 \n152.96 \n-2.09% \nMoney Supply (US$)2 \n4 438.84 million 4 487.97 million \n1.11% \nMoney Supply (M3) Annual Growth2 \n4.93% \n3.75% \n \nYearly Inflation3 \n-2.65% \n-2.70% \n \nMonthly Inflation3 \n \n-0.89% \n \n \n-0.19% \n \n \nNominal Lending Rate \n4.3-31.00% \n5.0-31.00% \n \nSources: \n1 Zimbabwe Stock Exchange (ZSE) \n2 Reserve Bank of Zimbabwe (RBZ) \n3 Zimbabwe National Statistics Agency \n(ZIMSTAT) \n \n \n \nSELECTED ECONOMIC INDICATORS \n \n \nMONTHLY ECONOMIC REVIEW \n2 \n \nSTOCK MARKET DEVELOPMENTS \nGlobal stock markets registered mixed performances \nin the month of May 2015. The US stock markets \nwere buoyed by expectations of an interest rate \nincrease by the Federal Reserve Bank. European \nstock markets were lower largely because of \nuncertainty \nsurrounding \nGreece’s \ncontinued \nmembership of the Economic and Monetary Union \n(EMU) of European countries. \nMost African stock markets recorded losses during \nthe month under review. Kenyan, South African and \nNigerian stock markets declined by 6.0%, 4.1% and \n1.1%, respectively. Losses in Kenya were largely due \nto profit taking. South African losses were attributed \nto expectations that the Federal Reserve Bank of \nAmerica was likely to raise interest rates. \nBearish conditions continued on the Zimbabwe stock \nmarket, with the industrial index declining from \n156.26 points in April 2015, to 152.96 points in May \n2015. Over the same period, however, the mining \nindex rose by 3.54% to 44.45 points from 42.93 \npoints. \n \n \nThe decline in the industrial index largely reflected \nlosses in Powerspeed, Cafca and OK Zimbabwe. The \nmining index was buoyed by gains in Riozim. The \nmining entity’s share price gained after it announced \nplans to produce at least 40kgs of gold per month \nfrom its mining unit, Cam and Motor mine which re-\nstarted operations in March 2015. \nTrading \nvolumes \ndeclined \nby \n48.51% \nfrom \n563.83 million shares in April 2015, to 290.32 million \nshares in May 2015. Market turnover also declined \nfrom US$29.19 million in April 2015, to US$23.28 \nmillion in May 2015. \n \n \nSource: Zimbabwe Stock Exchange, 2015 \nMarket \ncapitalisation \nfurther \ndeclined \nfrom \nUS$4 066.07 million in April 2015, to US$3 978.1 \nmillion May 2015, as a result of subdued activity in \nthe market. \n \n0\n50\n100\n150\n200\n250\n30-Aug-12\n30-Nov-12\n28-Feb-13\n31-May-13\n31-Aug-13\n30-Nov-13\n28-Feb-14\n31-May-14\n31-Aug-14\n30-Nov-14\n28-Feb-15\n31-May-15\nFigure 1: ZSE Indices\nIndustrial\nMining\n0.00\n0.50\n1.00\n1.50\n2.00\n2.50\n3.00\n3.50\n4.00\n4.50\n0.00\n20.00\n40.00\n60.00\n80.00\n100.00\n120.00\n140.00\n04-May-15\n06-May-15\n08-May-15\n10-May-15\n12-May-15\n14-May-15\n16-May-15\n18-May-15\n20-May-15\n22-May-15\n24-May-15\n26-May-15\n28-May-15\nVALUES TRADED (US$ MILLIONS)\nVOLUMES TRADED (MILLIONS)\nFigure 2: ZSE: Daily Volumes and \nFigure 2: ZSE: Daily Volumes and Values Traded\nValues Traded\nVolume\nTurnover\nSource: Zimbabwe Stock Exchange, 2015 \n \n \nMONTHLY ECONOMIC REVIEW \n3 \n \nMONETARY DEVELOPMENTS \n \nAnnual broad money1 supply growth further \ndecelerated from 4.93% in April to 3.75% in May \n2015. On a monthly basis, broad money rose by \n1.11% to US$4 487.97 million in May, from \nUS$4 438.84 million in April 2015. \n \nSource: Reserve Bank of Zimbabwe, 2015 \nThe annual growth in broad money continued to be \nunderpinned by increases in long term deposits, \n33.70%; and savings deposits, 18.43%. Partially \noffsetting these increases were declines in demand \ndeposits of 6.05% and 4.31% in short term deposits. \nThe \nstructure \nof \ndeposits \nremained \nlargely \nunchanged, with demand deposits accounting for \n \n1 Broad money is made up of the consolidated deposits of the entire banking sector which amounted \nto US$4.5 billion in May 2015. The process of consolidation entails netting off of all interbank \ntransactions, including intra-sectoral deposits. Broad money computation, also nets out \ngovernment and non-resident deposits. \n46.42%; long term, 20.73%; short term, 18.86%; and \nsavings deposits, 13.98% of total deposits. \n \n \nTotal banking sector credit to the domestic economy \nincreased by 16.42% to US$4 817.88 million in May \n2015, from US$4 529.78 million in April 2015. \nOn a year-on-year basis, growth in credit to the \nprivate sector was 4.78% in May 2015, up from \n4.65% in April 2015. The monthly growth in credit to \nthe private sector posted a marginal increase to 0.02% \nUS$3 762.97 million in May 2015, from US$3 762.04 \nmillion in April 2015. \nDuring the month of May 2015, loans and advances \nconstituted 82.47% of the total credit to the private \nsector, followed by mortgages advanced by building \nsocieties, 11.92%; other investments, 3.93%; \n \n-5\n0\n5\n10\n15\n20\n25\n30\n 3.4\n 3.6\n 3.8\n 4.0\n 4.2\n 4.4\n 4.6\nNov\nJan\nMar\nMay\nJul\nSep\nNov\nJan\nMar\nMay\nJul\nSep\nNov\nJan\nMar\nMay\n%\nUS$ BILLIONS\nFigure 3: Money Supply\nFigure 3: Money Supply\nM3\nM3 Annual Growth\nShort \nTerm\n19%\nLong Term \n21%\nDemand\n46%\nSavings\n14%Figure 4: Banking Sector Deposits\nFigure 4: Banking Sector DepositsMay 2015\nMay 2015\nSource: Reserve Bank of Zimbabwe, 2015 \n \n \nMONTHLY ECONOMIC REVIEW \n4 \n \nbankers’ acceptances, 0.90%; and bills discounted, \n0.78%. \n \nSource: Reserve Bank of Zimbabwe, 2015 \nOn a sectoral basis, credit was distributed as follows: \nagriculture \n(18.86%); \nservices \n(17.82%); \nmanufacturing (15.05%); distribution (14.92%); \nmining (6.28%); transport and communications \n(3.10%); and construction (1.03%). Consumptive \nborrowing by households remained high at 18.33% of \ntotal credit to the private sector in May 2015. \nCredit to the private sector was mainly channelled \ntowards asset purchases, 45.84%; inventory build-up, \n33.84%; consumer durables, 11.15%; and vehicle \npurchases, 3.02%. The proportion of borrowed funds \nutilised for capital development remained low at \n5.15% of total loans and advances. In terms of \nallocation, the procurement of plant and equipment, \nland development, and office equipment, accounted \nfor 3.68%, 0.79% and 0.52%, respectively, of total \nloans and advances. \nINFLATION OUTTURN \n \nAnnual Inflation \nAnnual headline inflation, which has been negative \nsince October 2014, decelerated further to -2.70% in \nMay 2015, from -2.65% in April 2015. This was on \naccount of the continued decline in both food and \nnon-food prices. \n \nSource: ZIMSTAT, 2015 \nAnnual food inflation declined further from -2.9% in \nApril 2015, to -3.0% in May 2015, largely weighed \ndown by declines in the prices of vegetables, bread \nand cereals, meat, and oils and fats, among other food \nitems. \nThe decline in meat prices was partly on account of \nan increase in the supply of beef, goat, live chicken \nand processed meat. Increases in the supply of beef \nand goat meat could be attributed to destocking, \nfollowing the depletion of pastures due to the low \nrainfall received during the 2014/15 agricultural \nseason. \nLoans & Advances\n82.47%\nBills \nDiscounted\n0.78%\nBankers \nacceptances\n0.90%\nOther \ninvestments\n3.93%\nMortgages\n11.92%Figure 5: Credit to Private Sector\nFigure 5: Credit to Private SectorMay 2015\nMay 2015\n-4\n-3\n-2\n-1\n0\n1\n2\n3\n4\n5\n6\nMay-13\nJun-13\nJul-13\nAug-13\nSep-13\nOct-13\nNov-13\nDec-13\nJan-14\nFeb-14\nMar-14\nApr-14\nMay-14\nJun-14\nJul-14\nAug-14\nSep-14\nOct-14\nNov-14\nDec-14\nJan-15\nFeb-15\nMar-15\nApr-15\nMay-15\nJun-15\nFigure 6: Annual Inflation \n(%)\nHeadline Inflation\nFood\nNon Food\n \n \nMONTHLY ECONOMIC REVIEW \n5 \n \nAnnual non-food inflation stood at -2.6% in May \n2015, down from -2.5% in April 2015. The decline \nwas \nmainly \non \nthe back \nof \ndecreases in \ncommunication; housing, water, electricity, gas & \nother fuels; education; furniture and equipment; \ntransport and clothing and footwear, among others. \nThis could be attributed to slackening aggregate \ndemand as incomes fall, on the back of continuing job \nlosses resulting from company downsizing and \nclosures. \nPartially offsetting the decreases in the annual non-\nfood inflation were increases in alcoholic beverages \nand tobacco and health services. \n \nMonthly Inflation \nMonth-on-month inflation remained in negative \nterritory, increasing to -0.19% in May 2015, from \n-0.89% in April 2015. Increases in both food and non-\nfood inflation were registered during the period under \nreview. \nMonth-on-month food inflation rose to -0.4% in May \n2015, from -0.6% in April 2015. Similarly, monthly \nnon-food inflation accelerated to -0.1% in May 2015, \nfrom -1.0% in April 2015, driven by increases in \nhousing, water, electricity, gas and other fuels and \nhealth services. Declines in clothing and footwear; \nfurniture and household equipment; transport and \nalcoholic beverages and tobacco, however, partially \noffset the increases. \nIn the short term, domestic prices are expected to \nremain subdued as reflected by the trend of the \nquarterly annualized inflation, which has been in \nnegative territory since July 2014 \n \n \n \n \n \nNATIONAL PAYMENTS SYSTEM \n \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \nThe value of transactions processed through the \nRTGS system in May 2015 decreased by 12% to \nUS$3.5 billion, from US$3.9 billion recorded in April \n2015. During the same period, the volume of \ntransactions registered a decline of -0.3%, from \n180,335 to 179,761. \nSource: Reserve Bank of Zimbabwe, 2015 \n \nCard Based Transactions \nThe total value of card based transactions increased \nfrom US$433.66 million in April 2015, to US$455.4 \nmillion in May 2015. \n \nMobile and Internet Based Transactions \nThe total value of mobile and internet based \ntransactions increased from US$453.61 million in \nApril 2015, to US$514.5 million in May 2015. \n \n -\n 0.5\n 1.0\n 1.5\n 2.0\n 2.5\n 3.0\n 3.5\n 4.0\n 4.5\n 5.0\nMay-12\nSep-12\nJan-13\nMay-13\nSep-13\nJan-14\nMay-14\nSep-14\nJan-15\nMay-15\n -\n 50\n 100\n 150\n 200\n 250\nVALUE IN US$ BILLIONS\nVOLUME IN THOUSANDS\nFigure 7: Z\nFigure 7: ZETSS Volumes and Values\nValues\nVolume\nValue\n \n \nMONTHLY ECONOMIC REVIEW \n6 \n \nCheque Transactions \nIn terms of value, cheque transactions stood at, \nUS$13.08 million, an increase from US$10.81 \nmillion recorded in April 2015. \n \nRESERVE BANK OF ZIMBABWE \nJune 2015\n \n \n7 \n \nMONTHLY ECONOMIC REVIEW \nStatistical Tables \n \n \n1. Monetary Statistics \n \n1.1 Monetary Aggregates \n \n \n \n \n \n 9 \n \n1.2 Broad Money Survey \n \n \n \n \n \n10 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n11 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n12 \n \n 2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 13 \n \n2.2 Sectoral Analysis of Commercial Banks Deposits \n \n14 \n \n \n \n3. External Statistics \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n15 \n \n4. Interest Rates \n \n4.1 Lending Rates \n \n \n \n \n \n \n16 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n17 \n \n5. Inflation \n \n5.1 Monthly Inflation \n \n \n \n \n \n18 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n19 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n20 \n \n7. Commercial Banks \n \n7.1 Assets \n \n \n \n \n \n \n \n21 \n \n7.2 Liabilities \n \n \n \n \n \n \n22 \n \n \nMONTHLY ECONOMIC REVIEW \n8 \n \n \n8. Merchant Banks \n \n8.1 Assets \n \n \n \n \n \n \n \n23 \n \n8.2 Liabilities \n \n \n \n \n \n \n24 \n \n 9. Building Societies \n \n9.1 Assets \n \n \n \n \n \n \n \n25 \n \n9.2 Liabilities \n \n \n \n \n \n \n26 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n27 \n \n11. Savings with Financial Institutions \n \n \n \n \n28 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n29 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n \n \n13.1 Values of Transactions \n \n \n \n \n30 \n \n13.2 Volumes of Transactions \n \n \n \n \n31 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n9 \n \nMONTHLY ECONOMIC REVIEW \n \n \n \n \n \n \n \nMay\nJune\nJuly\nAugust\nSeptember\nOctober\nNovember\nDecember\nJanuary\nFebruary\nMarch\nApril\nMay\nBond Coins\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n298.6\n567.1\n1,096.7\n1,294.0\n1,749.3\n2,316.7\nRBZ Demand Deposits\n71.9\n96.6\n95.9\n95.8\n93.7\n94.4\n94.0\n144.5\n714.7\n898.5\n545.0\n491.6\n340.2\nComm. Banks Dem. Deposits\n2,173,283.2\n2,120,102.4\n2,011,296.3\n2,084,005.9\n2,089,784.7\n2,162,566.6\n2,124,944.0\n2,121,401.6\n1,967,789.9\n1,978,595.1\n2,051,081.7\n1,990,235.2\n2,017,918.3\nMerchant Banks Dem. Deposits\n42,779.8\n42,779.8\n42,560.1\n36,379.5\n40,922.6\n39,909.5\n39,446.4\n36,942.7\n39,049.7\n38,382.5\n68,611.1\n63,935.0\n63,899.2\nM1\n2,216,134.9\n2,162,978.8\n2,053,952.3\n2,120,481.2\n2,130,801.0\n2,202,570.5\n2,164,484.4\n2,158,787.4\n2,008,121.3\n2,018,972.8\n2,121,531.8\n2,056,411.0\n2,084,474.4\nComm. Banks Savings Deposits\n223,445.3\n253,857.5\n236,942.8\n256,908.6\n272,392.1\n252,758.2\n250,745.7\n267,179.5\n282,832.4\n240,444.7\n230,198.0\n267,921.4\n275,167.8\nBuilding Soc. Savings Deposits\n241,398.4\n234,278.6\n228,203.4\n232,305.6\n230,155.7\n236,100.8\n253,699.7\n236,423.8\n233,498.2\n238,848.9\n244,746.0\n256,526.3\n280,947.9\nP O S B Savings Deposits\n64,831.6\n68,218.1\n68,388.5\n68,651.3\n68,147.5\n65,414.5\n70,142.9\n69,601.1\n70,144.8\n72,839.1\n75,993.4\n74,678.1\n71,195.6\nComm. Banks U-30 Day Deposits\n685,132.2\n669,439.9\n596,373.1\n629,496.8\n651,068.5\n686,998.0\n630,856.1\n654,559.9\n638,395.6\n574,946.1\n645,401.5\n607,334.3\n670,242.5\nMerchant Banks U-30 Day Deposits\n34,572.1\n33,202.1\n33,787.2\n40,442.4\n33,929.0\n33,679.6\n33,288.9\n31,176.0\n40,928.2\n40,362.2\n12,132.4\n0.0\n0.0\nBuilding Soc. U- 30 Day Deposits\n164,622.3\n175,432.1\n113,937.3\n126,458.5\n149,478.7\n116,270.3\n113,090.1\n144,211.5\n127,399.4\n149,834.6\n152,280.6\n189,428.7\n175,953.7\nM2\n3,630,137.0\n3,597,407.0\n3,331,584.7\n3,474,744.4\n3,535,972.5\n3,593,792.1\n3,516,307.8\n3,561,939.1\n3,401,319.9\n3,336,248.4\n3,482,283.7\n3,452,299.9\n3,557,981.9\nComm. Banks O-30 Day Deposits\n438,431.5\n489,568.8\n577,592.3\n516,231.3\n540,278.5\n492,200.3\n508,747.2\n449,703.8\n544,421.5\n597,685.2\n503,769.1\n618,804.9\n536,216.7\nMerchant Banks O-30 Day Deposits\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\nBuilding Soc. O- 30 Day Deposits\n233,243.8\n212,224.9\n287,853.4\n304,479.1\n280,499.3\n337,930.1\n359,491.3\n365,334.8\n366,978.6\n375,166.9\n355,362.1\n340,739.4\n364,490.5\nBuilding Soc. Other Share Deposits\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\nP O S B Time Deposits\n12,651.5\n13,098.6\n15,773.0\n15,354.3\n20,485.8\n22,070.6\n19,652.7\n15,174.4\n16,138.8\n17,519.8\n17,638.5\n15,733.8\n18,011.8\nM3\n4,325,730.4\n4,323,565.9\n4,224,069.9\n4,322,075.8\n4,388,502.7\n4,457,259.7\n4,415,465.6\n4,403,418.7\n4,340,125.3\n4,337,886.9\n4,370,320.0\n4,438,844.6\n4,487,967.5\n2014\n2015\nTABLE 1.1 : MONETARY AGGREGATES\n US$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n10 \n \n \nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nNET FOREIGN ASSETS \n-585,616.7\n-595,417.7\n-701,074.2\n-627,733.6\n-536,234.0\n-598,846.1\n-767,824.4\n-719,401.4\n-714,190.6\n-763,306.5\n-565,959.3\n-636,028.1\n-681,066.5\n Assets\n1,190,209.8\n1,126,637.1\n1,027,150.0\n1,079,627.1\n1,105,902.8\n999,042.7\n827,514.2\n896,179.7\n830,959.4\n737,833.5\n816,079.6\n755,493.4\n811,200.4\n Reserve Bank (RBZ)\n410,904.2\n374,556.5\n327,295.3\n411,681.6\n620,484.9\n508,155.9\n334,534.3\n363,181.1\n356,661.9\n280,889.9\n282,170.1\n282,900.6\n303,218.6\n Deposit Money Banks (DMBs) \n700,802.8\n685,339.5\n623,693.1\n604,460.0\n414,981.4\n432,341.0\n416,989.8\n463,112.7\n405,880.7\n400,473.5\n469,563.3\n424,368.1\n418,721.9\n Other Banking Institutions (OBIs) \\1\n78,502.7\n66,741.0\n76,161.6\n63,485.5\n70,436.5\n58,545.8\n75,990.2\n69,886.0\n68,416.9\n56,470.0\n64,346.2\n48,224.7\n89,260.0\n Liabilities \\2\n-1,775,826.5\n-1,722,054.8\n-1,728,224.2\n-1,707,360.7\n-1,642,136.8\n-1,597,888.8\n-1,595,338.6\n-1,615,581.1\n-1,545,150.0\n-1,501,140.0\n-1,382,038.9\n-1,391,521.5\n-1,492,266.9\n RBZ\n1,152,736.3\n1,141,906.4\n1,136,091.5\n1,117,663.4\n1,037,740.5\n1,035,611.2\n1,030,053.8\n1,020,936.5\n1,007,096.0\n1,009,161.8\n858,095.4\n894,207.5\n868,931.4\n DMBs\n598,403.2\n545,347.3\n562,067.8\n553,968.9\n550,158.8\n508,060.2\n510,711.1\n540,423.0\n483,463.5\n438,356.5\n473,182.2\n448,998.0\n574,792.7\n OBIs\n24,687.0\n34,801.1\n30,065.0\n35,728.4\n54,237.5\n54,217.5\n54,573.7\n54,221.6\n54,590.6\n53,621.8\n50,761.3\n48,315.9\n48,542.8\nNET DOMESTIC ASSETS \n4,911,347.2\n4,918,983.6\n4,925,144.1\n4,949,809.4\n4,924,736.6\n5,056,105.8\n5,183,290.0\n5,122,820.1\n5,054,316.0\n5,101,193.5\n4,936,279.4\n5,074,872.7\n5,169,034.0\nDOMESTIC CREDIT\n4,138,311.2\n4,174,067.9\n4,205,226.6\n4,234,468.5\n4,267,182.2\n4,331,335.1\n4,352,932.2\n4,378,653.6\n4,231,495.4\n4,249,052.3\n4,371,027.6\n4,529,777.2\n4,817,875.2\n Claims on Government (net) \n468,461.4\n498,617.0\n423,988.3\n437,473.4\n442,435.9\n470,504.6\n462,425.7\n515,636.4\n544,026.1\n549,179.2\n537,675.3\n665,258.8\n950,594.0\n RBZ\n-1,178.9\n-1,179.1\n-46,158.3\n-25,974.8\n-35,915.4\n-14,433.2\n-14,031.5\n-25,063.7\n-12,594.0\n-12,908.0\n-22,274.1\n98,377.6\n97,847.8\n DMBs\n429,476.7\n459,632.5\n429,983.1\n411,866.1\n426,769.3\n433,084.8\n443,478.0\n487,962.9\n504,696.7\n510,080.3\n500,344.5\n498,836.6\n784,428.5\n OBIs\n40,163.5\n40,163.5\n40,163.5\n51,582.0\n51,582.0\n51,852.9\n32,979.1\n52,737.2\n51,923.4\n52,007.0\n59,604.9\n68,044.6\n68,317.8\n Claims on Public Enterprises \n78,383.6\n73,173.2\n77,393.8\n70,324.8\n72,390.6\n72,375.0\n66,661.0\n66,750.2\n64,967.7\n68,944.3\n71,543.2\n102,474.3\n104,306.3\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n737.3\n1,087.1\n DMBs\n78,383.6\n73,173.2\n77,393.8\n70,324.8\n72,390.6\n72,375.0\n66,661.0\n66,750.2\n64,967.7\n68,944.3\n69,816.8\n100,742.9\n102,436.0\n Agri-PEs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Other\n78,383.6\n73,173.2\n77,393.8\n70,324.8\n72,390.6\n72,375.0\n66,661.0\n66,750.2\n64,967.7\n68,944.3\n69,816.8\n100,742.9\n102,436.0\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n1,726.4\n994.2\n783.2\n Claims on Private Sector\n3,591,466.2\n3,602,277.7\n3,703,844.6\n3,726,670.4\n3,752,355.7\n3,788,455.5\n3,823,845.6\n3,796,267.1\n3,622,501.6\n3,630,928.8\n3,761,809.1\n3,762,044.1\n3,762,974.9\n RBZ\n34,745.1\n34,725.3\n34,725.3\n34,725.3\n34,725.3\n34,725.3\n34,725.3\n34,725.3\n34,725.3\n34,725.3\n31,409.0\n31,558.0\n31,155.6\n DMBs\n2,956,036.4\n2,955,853.5\n3,013,188.5\n3,016,709.8\n3,021,389.7\n3,016,750.9\n3,036,795.2\n3,010,101.6\n2,835,002.6\n2,824,415.9\n2,960,892.4\n2,948,993.7\n2,960,917.8\n OBIs\n600,684.7\n611,698.9\n655,930.8\n675,235.3\n696,240.7\n736,979.3\n752,325.1\n751,440.3\n752,773.8\n771,787.7\n769,507.7\n781,492.4\n770,901.6\nOTHER ITEMS (NET) \n773,035.9\n744,915.7\n719,917.4\n715,340.8\n657,554.4\n724,770.7\n830,357.8\n744,166.4\n822,820.5\n852,141.2\n565,251.8\n545,095.4\n351,158.7\nBROAD MONEY (M3) \n4,325,730.5\n4,323,565.9\n4,224,069.9\n4,322,075.8\n4,388,502.6\n4,457,259.7\n4,415,465.6\n4,403,418.7\n4,340,125.3\n4,337,887.0\n4,370,320.1\n4,438,844.6\n4,487,967.5\nTABLE 1.2 : BROAD MONEY SURVEY\nUS$ Thousands\n2015\n2014\n \n \nMONTHLY ECONOMIC REVIEW \n11 \n \n \n \n \n \n \n \nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nNET FOREIGN ASSETS \n110,226.8\n-9,801.0\n-105,656.4\n73,340.6\n91,499.6\n-62,612.2\n-168,978.3\n48,423.1\n5,210.8\n-49,115.9\n197,347.2\n-70,068.7\n-45,038.4\n Assets\n126,605.3\n-63,572.7\n-99,487.0\n52,477.1\n26,275.7\n-106,860.1\n-171,528.5\n68,665.5\n-65,220.3\n-93,125.9\n78,246.1\n-60,586.2\n55,707.0\n Reserve Bank (RBZ)\n51,044.8\n-36,347.7\n-47,261.2\n84,386.3\n208,803.3\n-112,329.0\n-173,621.7\n28,646.8\n-6,519.2\n-75,771.9\n1,280.1\n730.6\n20,317.9\n Deposit Money Banks (DMBs)\n72,237.8\n-15,463.3\n-61,646.4\n-19,233.1\n-189,478.6\n17,359.6\n-15,351.2\n46,122.9\n-57,232.0\n-5,407.1\n69,089.7\n-45,195.2\n-5,646.2\n Other Banking Institutions (OBIs) \\1\n3,322.7\n-11,761.7\n9,420.6\n-12,676.1\n6,951.0\n-11,890.7\n17,444.4\n-6,104.2\n-1,469.1\n-11,946.9\n7,876.2\n-16,121.6\n41,035.3\n Liabilities \\2\n-16,378.5\n53,771.7\n-6,169.4\n20,863.4\n65,223.9\n44,248.0\n2,550.2\n-20,242.5\n70,431.1\n44,010.0\n119,101.1\n-9,482.6\n-100,745.5\n RBZ\n-2,727.0\n-10,829.9\n-5,814.9\n-18,428.0\n-79,922.9\n-2,129.4\n-5,557.4\n-9,117.3\n-13,840.5\n2,065.8\n-151,066.4\n36,112.1\n-25,276.1\n DMBs\n19,309.6\n-53,055.9\n16,720.4\n-8,098.8\n-3,810.2\n-42,098.6\n2,651.0\n29,711.9\n-56,959.6\n-45,107.0\n34,825.7\n-24,184.2\n125,794.7\n OBIs\n-204.2\n10,114.1\n-4,736.2\n5,663.4\n18,509.2\n-20.0\n356.2\n-352.1\n369.0\n-968.8\n-2,860.4\n-2,445.4\n226.9\nNET DOMESTIC ASSETS \\3\n-14,954.9\n7,636.5\n6,160.4\n24,665.3\n-25,072.8\n131,369.2\n127,184.2\n-60,469.9\n-68,504.1\n46,877.5\n-164,914.1\n138,593.3\n94,161.3\nDOMESTIC CREDIT\n-11,826.2\n35,756.7\n31,158.7\n29,241.9\n32,713.7\n64,152.8\n21,597.2\n25,721.4\n-147,158.2\n17,556.9\n121,975.3\n158,749.6\n288,098.0\n Claims on Government (net) \n-8,455.9\n30,155.7\n-74,628.7\n13,485.1\n4,962.5\n28,068.6\n-8,078.9\n53,210.7\n28,389.7\n5,153.1\n-11,503.9\n127,583.5\n285,335.2\n RBZ\n0.0\n-0.2\n-44,979.3\n20,183.6\n-9,940.6\n21,482.2\n401.6\n-11,032.2\n12,469.7\n-314.0\n-9,366.0\n120,651.7\n-529.8\n DMBs\n-8,455.9\n30,155.8\n-29,649.5\n-18,117.0\n14,903.2\n6,315.6\n10,393.2\n44,484.8\n16,733.8\n5,383.6\n-9,735.8\n-1,507.9\n285,591.8\n OBIs\n0.0\n0.0\n0.0\n11,418.5\n0.0\n270.8\n-18,873.7\n19,758.1\n-813.8\n83.5\n7,597.9\n8,439.7\n273.1\n Claims on Public Enterprises \n90.9\n-5,210.4\n4,220.6\n-7,069.0\n2,065.8\n-15.6\n-5,714.0\n89.2\n-1,782.4\n3,976.6\n2,598.9\n30,931.2\n1,832.0\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n737.3\n349.8\n DMBs\n90.9\n-5,210.4\n4,220.6\n-7,069.0\n2,065.8\n-15.6\n-5,714.0\n89.2\n-1,782.4\n3,976.6\n872.5\n30,926.1\n1,693.1\n Agri-PEs\n-6,898.8\n-6,908.9\n-1,516.3\n-1,511.0\n-1,514.5\n-1,515.5\n-1,515.5\n-1,516.5\n-1,517.5\n-1,518.5\n-1,519.5\n-1,520.5\n-1,521.5\n Other\n6,989.7\n1,698.5\n5,736.8\n-5,558.0\n3,580.4\n1,499.9\n-4,198.5\n1,605.7\n-264.9\n5,495.1\n2,392.0\n32,446.6\n3,214.7\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n1,726.4\n-732.2\n-211.0\n Claims on Private Sector\n-3,461.1\n10,811.4\n101,566.9\n22,825.8\n25,685.3\n36,099.8\n35,390.1\n-27,578.5\n-173,765.5\n8,427.2\n130,880.3\n234.9\n930.9\n RBZ\n0.0\n-19.8\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n-3,316.3\n149.0\n-402.4\n DMBs\n-12,524.1\n-182.9\n57,335.0\n3,521.2\n4,680.0\n-4,638.8\n20,044.3\n-26,693.6\n-175,099.0\n-10,586.7\n136,476.5\n-11,898.7\n11,924.1\n OBIs\n9,063.0\n11,014.2\n44,231.9\n19,304.6\n21,005.3\n40,738.6\n15,345.8\n-884.9\n1,333.5\n19,013.9\n-2,280.0\n11,984.7\n-10,590.8\nOTHER ITEMS (NET) \n-3,128.7\n-28,120.2\n-24,998.3\n-4,576.6\n-57,786.4\n67,216.3\n105,587.1\n-86,191.4\n78,654.1\n29,320.6\n-286,889.4\n-20,156.4\n-193,936.7\nBROAD MONEY (M3) \n95,271.9\n-2,164.5\n-99,496.0\n98,005.9\n66,426.9\n68,757.0\n-41,794.1\n-12,046.9\n-63,293.4\n-2,238.4\n32,433.1\n68,524.5\n49,122.9\n Broad Money (M3) \n2.3%\n-0.1%\n-2.3%\n2.3%\n1.5%\n1.6%\n-0.9%\n-0.3%\n-1.4%\n-0.1%\n0.7%\n1.57%\n1.11%\n Domestic Credit \n-0.3%\n0.9%\n0.7%\n0.7%\n0.8%\n1.5%\n0.5%\n0.6%\n-3.4%\n0.4%\n2.9%\n3.63%\n6.36%\n Claims on Private Sector\n-0.1%\n0.3%\n2.8%\n0.6%\n0.7%\n1.0%\n0.9%\n-0.7%\n-4.6%\n0.2%\n3.6%\n0.01%\n0.02%\nTABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3)\n US$ Thousands\n2014\n2015\n \n \nMONTHLY ECONOMIC REVIEW \n12 \n \n \nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nNET FOREIGN ASSETS \n-97,000.4\n174,984.2\n121,341.3\n256,709.5\n278,254.4\n251,490.3\n233,974.4\n90,771.0\n132,431.5\n36,127.1\n250,879.1\n59,815.5\n-95,449.8\n Assets\n124,519.6\n132,134.9\n59,355.9\n147,638.2\n30,394.8\n4,716.6\n-29,140.7\n-145,986.2\n-178,961.3\n-294,685.4\n-205,308.8\n-308,111.1\n-379,009.3\n Reserve Bank (RBZ)\n-60,760.6\n-87,240.5\n-35,011.5\n124,065.4\n275,699.8\n185,705.6\n69,707.4\n24,693.2\n1,841.7\n-84,185.9\n-74,987.2\n-76,958.8\n-107,685.7\n Deposit Money Banks (DMBs)\n153,245.8\n197,101.5\n87,011.4\n37,263.5\n-248,474.2\n-168,281.7\n-114,069.3\n-180,447.4\n-204,438.1\n-219,094.2\n-115,561.0\n-204,196.9\n-282,081.0\n Other Banking Institutions (OBIs) \\1\n32,034.3\n22,274.0\n7,356.1\n-13,690.7\n3,169.2\n-12,707.3\n15,221.1\n9,767.9\n23,635.1\n8,594.7\n-14,760.6\n-26,955.3\n10,757.3\n Liabilities \\2\n-221,520.0\n42,849.2\n61,985.4\n109,071.4\n247,859.6\n246,773.7\n263,115.2\n236,757.2\n311,392.8\n330,812.5\n456,187.9\n367,926.6\n283,559.6\n RBZ\n18,630.8\n3,844.4\n-7,035.3\n-22,202.4\n-108,893.9\n-114,916.2\n-117,925.2\n-129,214.3\n-141,597.9\n-142,138.7\n-294,509.5\n-261,255.8\n-283,804.9\n DMBs\n204,827.4\n-54,779.1\n-63,362.3\n-101,759.1\n-172,362.2\n-165,096.0\n-178,769.8\n-131,012.2\n-198,281.1\n-217,181.2\n-187,715.9\n-130,095.6\n-23,610.5\n OBIs\n-1,938.2\n8,085.5\n8,412.1\n14,890.2\n33,396.5\n33,238.5\n33,579.8\n23,469.3\n28,486.1\n28,507.4\n26,037.5\n23,424.8\n23,855.8\nNET DOMESTIC ASSETS \\3\n404,589.2\n310,374.5\n247,806.9\n269,129.6\n199,588.8\n254,086.5\n374,380.8\n380,322.6\n319,048.5\n279,980.3\n25,501.8\n148,570.5\n257,686.8\nDOMESTIC CREDIT\n267,298.2\n238,021.8\n238,960.1\n245,653.9\n260,891.3\n252,119.7\n261,621.9\n309,956.1\n245,588.9\n134,866.3\n190,918.6\n379,639.8\n679,564.0\n Claims on Government (net) \n256,239.5\n292,427.5\n191,715.5\n203,355.4\n213,821.1\n170,818.5\n130,627.9\n157,639.0\n185,227.8\n122,671.7\n47,442.1\n188,341.5\n482,132.6\n RBZ\n0.8\n649.4\n-42,670.8\n-24,732.7\n-34,718.8\n-12,964.3\n-12,843.3\n-23,881.4\n-11,412.3\n-11,726.2\n-21,094.5\n99,556.4\n99,026.6\n DMBs\n236,596.5\n271,848.2\n214,456.4\n196,739.8\n217,191.5\n152,163.6\n150,725.7\n168,946.7\n184,880.3\n122,554.5\n49,095.3\n60,904.0\n354,951.8\n OBIs\n19,642.1\n19,929.9\n19,929.9\n31,348.4\n31,348.4\n31,619.3\n-7,254.5\n12,573.7\n11,759.9\n11,843.4\n19,441.3\n27,881.1\n28,154.2\n Claims on Public Enterprises \n14,778.7\n9,544.5\n15,219.5\n9,961.8\n12,580.8\n12,950.8\n5,816.2\n6,105.2\n4,414.7\n8,255.0\n-7,984.8\n24,181.6\n25,922.7\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n737.3\n1,087.1\n DMBs\n14,778.7\n9,544.5\n15,219.5\n9,961.8\n12,580.8\n12,950.8\n5,816.2\n6,105.2\n4,414.7\n8,255.0\n-9,711.2\n22,450.1\n24,052.3\n Agri-PEs\n-5,259.3\n-5,260.3\n-5,261.3\n-5,262.3\n-5,263.3\n-5,003.2\n-5,004.2\n-5,005.2\n-7,246.8\n-7,246.8\n-6,896.5\n-6,898.8\n-6,908.9\n Other\n20,038.0\n14,804.8\n20,480.8\n15,224.1\n17,844.1\n17,954.0\n10,820.4\n11,110.4\n11,661.5\n15,501.8\n-2,814.7\n29,348.9\n30,961.2\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n1,726.4\n994.2\n783.2\n Claims on Private Sector\n-3,720.0\n-63,950.1\n32,025.1\n32,336.7\n34,489.5\n68,350.4\n125,177.8\n146,211.9\n55,946.4\n3,939.6\n151,461.2\n167,116.7\n171,508.7\n RBZ\n-5,383.7\n-5,403.6\n-1,420.9\n-1,421.9\n-1,387.4\n-394.8\n-390.8\n-390.8\n-390.8\n-390.8\n-3,336.1\n-3,187.1\n-3,589.5\n DMBs\n-107,645.2\n-169,498.5\n-120,335.1\n-142,682.7\n-121,001.5\n-124,890.6\n-69,400.6\n-43,543.7\n-120,031.2\n-192,169.1\n-33,095.8\n-19,566.9\n4,881.3\n OBIs\n109,308.9\n110,951.9\n153,781.1\n176,441.3\n156,878.5\n193,635.8\n194,969.2\n190,146.4\n176,368.4\n196,499.5\n187,893.1\n189,870.6\n170,216.9\nOTHER ITEMS (NET) \n137,290.9\n72,352.6\n8,846.8\n23,475.6\n-61,302.5\n1,966.8\n112,758.9\n70,366.5\n73,459.6\n145,114.0\n-165,416.8\n-231,069.3\n-421,877.2\nBROAD MONEY (M3) \n307,589.0\n485,358.6\n369,148.2\n525,839.1\n477,843.2\n505,576.8\n608,355.2\n471,093.6\n451,480.0\n316,107.4\n276,380.8\n208,386.1\n162,237.0\nGROWTH RATES\n Broad Money (M3) \n7.7%\n12.6%\n9.6%\n13.9%\n12.2%\n12.8%\n16.0%\n12.0%\n11.6%\n7.9%\n6.8%\n4.9%\n3.8%\n Domestic Credit \n6.9%\n6.0%\n6.0%\n6.2%\n6.5%\n6.2%\n6.4%\n7.6%\n6.2%\n3.3%\n4.6%\n9.1%\n16.4%\n Claims on Private Sector\n-0.1%\n-1.7%\n0.9%\n0.9%\n0.9%\n1.8%\n3.4%\n4.0%\n1.6%\n0.1%\n4.2%\n4.6%\n4.8%\nTABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3)\n$ Thousands\n2014\n2015\n \n \nMONTHLY ECONOMIC REVIEW \n13 \n \n \n \n \n \n \n \n \nAGRICULTURE\nCONSTRUCTION\nCOMMUNICATION\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATE\nTOTAL\nEND OF\n \n \n \nINVESTMENTS\nORGANISATIONS\n \n \n \n \n2013 \nJan\n450,170.0\n31,073.4\n38,762.3\n426,050.9\n11,967.9\n31,547.4\n417,961.3\n144,645.1\n237,323.7\n33,906.5\n300,841.1\n9,373.1\n2,133,622.7\nFeb \n494,536.6\n33,786.9\n28,372.0\n439,556.7\n14,811.4\n33,948.5\n409,692.7\n128,242.7\n303,269.9\n38,235.9\n298,171.5\n3,685.5\n2,226,310.2\nMar\n467,874.0\n41,532.7\n68,987.2\n433,337.1\n16,118.8\n34,704.7\n471,204.9\n159,925.7\n307,134.7\n44,413.6\n370,123.5\n4,491.7\n2,419,848.6\nApr\n455,178.9\n43,628.2\n23,433.4\n428,381.7\n14,997.8\n35,589.1\n444,798.7\n135,046.2\n288,857.6\n45,643.6\n377,037.0\n7,693.7\n2,300,585.8\nMay\n484,635.0\n38,637.2\n27,795.2\n455,737.9\n14,699.1\n35,106.1\n465,890.2\n115,457.8\n301,547.9\n52,075.2\n382,172.8\n5,034.0\n2,378,788.7\nJun\n489,730.1\n37,474.3\n38,198.7\n425,521.3\n7,310.7\n53,815.0\n454,368.5\n110,349.9\n295,432.3\n51,453.6\n385,769.7\n11,033.4\n2,360,457.5\nJul\n483,103.7\n40,342.5\n33,494.3\n464,921.7\n6,869.2\n38,522.6\n541,025.9\n116,557.1\n307,117.5\n48,218.0\n426,582.7\n4,455.3\n2,511,210.5\nAug\n521,743.0\n38,889.1\n43,894.5\n425,531.4\n7,260.6\n39.087.2\n451,871.2\n110,041.8\n346,006.0\n40,216.0\n374,587.1\n9,914.6\n2,409,042.5\nSep\n496,289.3\n39,446.9\n38,856.6\n447,247.2\n13,953.5\n43,006.7\n437,211.9\n118,873.7\n330,709.6\n40,046.6\n373,596.8\n9,790.6\n2,389,029.4\nOct\n491,610.6\n38,871.5\n39,766.0\n471,966.2\n8,023.3\n40,835.3\n420,445.3\n110,778.3\n417,411.6\n36,334.1\n376,463.1\n9,861.9\n2,462,367.3\nNov\n487,289.4\n40,321.7\n42,332.0\n488,637.3\n3,116.5\n36,852.0\n417,162.5\n117,050.8\n389,727.1\n39,126.4\n369,190.3\n17,960.5\n2,448,766.4\nDec\n533,165.2\n42,285.1\n17,617.9\n435,613.1\n5,047.0\n62,165.8\n389,181.2\n115,404.6\n379,809.3\n37,409.1\n369,838.8\n18,252.9\n2,405,790.0\n2014 \nJan\n489,585.3\n43,743.8\n18,574.7\n464,097.6\n5,467.4\n48,086.1\n362,554.0\n116,635.5\n412,901.1\n37,722.2\n367,126.2\n16,773.1\n2,383,267.1\nFeb \n519,154.6\n38,918.1\n24,765.4\n460,528.2\n10,397.3\n47,488.6\n385,038.1\n116,670.5\n401,619.6\n32,978.1\n396,800.8\n8,542.7\n2,442,902.1\nMar\n503,868.1\n42,707.9\n35,785.1\n494,663.8\n5,257.4\n52,722.0\n374,809.1\n116,653.0\n396,000.6\n38,089.3\n406,503.1\n15,833.1\n2,482,892.7\nApr\n540,156.2\n40,707.1\n18,138.9\n502,514.1\n9,898.6\n18,817.9\n407,595.0\n175,048.3\n447,549.2\n49,619.1\n511,048.2\n15,136.7\n2,736,229.2\nMay\n546,733.9\n41,594.2\n21,547.9\n488,389.7\n10,073.8\n23,049.1\n396,846.0\n184,730.9\n452.373.8\n51,891.8\n512,864.5\n17,718.8\n2,747,814.6\nJun\n536,188.9\n46,085.8\n28,201.0\n500,266.1\n10,656.3\n25,616.2\n417,002.7\n197,441.1\n432,692.4\n46,751.6\n499,191.5\n17,173.9\n2,757,267.4\nJul\n575,645.3\n43,055.0\n28,090.8\n480,483.6\n6,359.2\n27,284.9\n428,611.4\n206,052.3\n479,384.6\n49,260.4\n507,930.0\n46,148.1\n2,878,305.8\nAug\n548,866.7\n56,886.1\n38,891.3\n498,696.8\n54,387.2\n110,618.5\n422,942.5\n221,099.2\n430,156.3\n48,167.0\n474,060.2\n37,230.9\n2,942,002.7\nSep\n539,818.8\n51,349.1\n29,191.8\n493,610.7\n51,999.0\n109,975.0\n428,697.3\n201,791.6\n451,117.2\n45,100.0\n539,108.1\n36,708.6\n2,978,467.1\nOct\n530,544.7\n62,891.8\n55,922.5\n507,936.4\n50,701.1\n101,818.5\n436,519.1\n196,491.0\n413,443.5\n39,088.3\n520,437.0\n5,799.4\n2,921,593.2\nNov\n574,859.5\n58,780.5\n46,419.5\n460,989.3\n50,008.6\n120,510.4\n453,924.5\n208,418.3\n413,410.7\n45,289.6\n540,638.4\n5,976.9\n2,979,226.2\nDec\n565,840.1\n46,298.5\n42,604.8\n437,975.3\n47,805.8\n88,485.5\n478,895.5\n220,501.3\n481,497.5\n43,449.8\n543,038.5\n5,957.7\n3,002,529.6\n2015 \nJan\n541,656.5\n46,681.6\n39,906.8\n445,656.6\n21,454.5\n131,350.1\n466,896.6\n207,686.6\n452,817.5\n47,945.7\n557,066.9\n1,401.2\n2,960,820.4\nFeb\n538,722.0\n42,062.8\n47,395.1\n446,647.8\n21,790.0\n117,681.6\n461,237.6\n214,420.4\n463,884.6\n48,357.0\n544,838.5\n1,416.2\n2,948,453.6\nMar\n549,118.0\n42,010.1\n44,087.2\n448,278.7\n76,302.3\n110,180.3\n473,978.1\n203,327.9\n466,104.7\n48,938.0\n550,140.6\n1,339.6\n3,013,805.6\nApr\n556,457.4\n30,687.3\n44,546.9\n451,852.9\n65,696.1\n72,653.7\n457,797.1\n202,418.2\n518,353.6\n47,653.8\n551,662.8\n990.1\n3,000,770.0\nMay\n577,258.6\n31,400.7\n44,839.1\n456,652.1\n64,792.3\n75,682.2\n460,700.3\n192,377.2\n545,363.4\n50,061.9\n561,058.3\n1,034.4\n3,061,220.5\nTABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1\n$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n14 \n \n \nEND OF\nAGRICULTURE\nCONSTRUCTION\nCOMMUNICATIONS\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATES\nTOTAL\nINVESTMENTS\nORGANISATIONS\n2013\nJANUARY\n91,648.8\n48,329.1\n128,426.0\n351,566.7\n212,401.7\n494,823.6\n252,389.7\n93,470.0\n658,260.1\n44,091.4\n512,289.8\n32,145.9\n2,919,842.6\nFEBRUARY\n96,796.5\n48,491.5\n147,571.5\n360,757.9\n147,995.9\n578,306.4\n284,603.8\n64,530.5\n679,554.8\n41,983.6\n516,431.2\n25,275.3\n2,991.999.1\nMARCH\n96,752.8\n44,883.3\n139,327.8\n354,627.8\n155,915.2\n610,758.4\n290,072.8\n87,143.0\n594,397.7\n38,345.5\n523,913.8\n141,404.6\n3,077,542.7\nAPRIL\n98,671.0\n49,093.8\n152,390.8\n350,269.2\n166,578.5\n545,118.2\n311,310.8\n105,766.9\n638,341.8\n39,837.1\n533,691.3\n99,053.9\n3,090,123.4\nMAY\n114,053.3\n55,427.4\n142,023.3\n389,384.7\n255,352.1\n484,429.7\n318,129.4\n92,777.2\n700,668.7\n46,593.8\n578,509.2\n32,297.7\n3,209,646.5\nJUNE\n116,635.2\n58,578.8\n147,313.8\n447,394.5\n183,146.3\n352,600.3\n366,824.2\n96,685.8\n701,195.7\n46,578.5\n597,373.1\n104,843.6\n3,219,169.8\nJULY\n108,086.6\n46,449.5\n120,982.3\n380,448.8\n178,341.4\n677,700.7\n301,575.9\n97,583.8\n710,856.1\n39,395.9\n487,954.4\n102,531.4\n3,251,906.9\nAUGUST\n137,107.1\n48,726.1\n135,788.5\n319,106.0\n174,593.9\n637,190.7\n333,255.3\n99,194.1\n639,401.6\n41,996.5\n417,762.6\n93,772.1\n3,077,894.4\nSEPTEMBER\n100,028.3\n57,039.8\n145,652.5\n380,781.4\n207,379.2\n612,131.5\n408,359.1\n103,872.8\n795,047.6\n46,982.9\n435,912.4\n90,265.8\n3,383,453.4\nOCTOBER\n94,346.3\n52,722.4\n141,401.4\n338,625.9\n223,223.8\n754,145.4\n339,305.6\n99,583.3\n754,116.1\n41,527.2\n440,197.9\n97,771.1\n3,376,966.4\nNOVEMBER\n114,178.7\n47,740.9\n128,399.3\n312,639.2\n241,628.8\n741,885.4\n283,426.0\n80,507.6\n727,492.5\n42,901.0\n458,479.9\n89,292.5\n3,268,571.8\nDECEMBER\n113,914.2\n51,981.7\n142,938.1\n342,785.1\n213,125.2\n755,299.4\n327,658.1\n83,103.1\n762,884.4\n41,827.9\n432,436.3\n61,038.7\n3,328,992.1\n2014\nJANUARY\n130,154.6\n53,292.9\n146,876.1\n353,793.8\n259,569.6\n731,703.3\n304,033.2\n93,776.7\n770,435.4\n40,085.9\n485,573.1\n60,897.7\n3,430,192.5\nFEBRUARY\n138,812.3\n55,092.2\n134,813.9\n420,181.0\n262,183.8\n786,295.6\n270,062.5\n131,134.8\n779,640.3\n39,169.2\n508,813.7\n61,822.3\n3,588,021.6\nMARCH\n118,239.1\n55,167.5\n135,807.9\n382,675.5\n216,025.3\n791,776.0\n275,549.1\n103,298.7\n806,185.9\n42,432.8\n521,381.5\n72,990.9\n3,521,530.3\nAPRIL\n164,347.5\n59,289.3\n102,323.7\n408,823.5\n325,559.7\n780,207.0\n325,659.8\n135,187.4\n888,876.2\n43,746.5\n582,848.8\n82,009.8\n3,898,879.1\nMAY\n149,474.1\n60,669.4\n108,977.6\n355,802.3\n332,850.8\n800,256.8\n303,599.4\n132,132.8\n1,027,552.7\n38,921.0\n581,930.2\n93,334.9\n3,985,501.8\nJUNE\n194,685.1\n64,188.9\n95,595.6\n470,267.7\n291,594.6\n812,999.7\n348,303.5\n130,453.4\n895,698.0\n44,735.5\n575,149.1\n91,392.4\n4,015,063.5\nJULY\n163,335.6\n56,812.0\n87,587.5\n370,121.7\n303,367.3\n830,988.6\n334,436.8\n112,985.0\n880,761.1\n44,675.4\n587,756.7\n94,841.5\n3,867,669.2\nAUGUST\n128,794.1\n38,934.1\n90,012.5\n271,204.3\n270,009.9\n755,141.6\n236,267.5\n130,548.6\n865,566.6\n31,180.4\n467,724.2\n89,582.4\n3,374,966.2\nSEPTEMBER\n177,932.5\n56,444.5\n82,756.7\n315,956.8\n309,508.3\n951,593.4\n278,461.5\n174,497.9\n978,044.0\n47,792.7\n571,629.9\n103,464.8\n4,048,083.1\nOCTOBER\n158,421.7\n57,091.4\n83,973.9\n407,934.0\n308,028.8\n917,450.3\n266,690.9\n178,771.0\n936,336.2\n44,950.2\n613,425.1\n91,764.1\n4,064,837.5\nNOVEMBER\n140,908.6\n61,494.3\n93,114.0\n350,153.8\n313,668.7\n881,007.4\n271,049.9\n137,867.8\n955,760.6\n48,177.7\n641,405.3\n90,462.2\n3,985,070.2\nDECEMBER\n147,242.4\n60,358.1\n118,725.7\n328,729.5\n325,746.6\n950,304.9\n290,329.3\n118,977.8\n964,815.0\n47,574.3\n638,061.1\n92,040.8\n4,082,906.3\n2015\nJANUARY\n155,304.2\n63,950.4\n136,066.9\n349,099.7\n294,145.5\n809,684.0\n314,319.6\n113,452.0\n1,034,514.7\n48,876.5\n606,370.3\n78,746.0\n4,004,529.8\nFEBRUARY\n151,740.1\n63,112.6\n109,807.6\n370,581.8\n314,944.7\n784,737.6\n309,307.9\n120,255.1\n1,028,160.1\n43,112.0\n606,650.6\n78,891.2\n3,981,301.2\nMARCH\n199,484.8\n63,709.2\n116,397.4\n378,460.0\n351,448.0\n762,380.7\n373,911.9\n99,744.6\n912,654.4\n42,478.9\n644,951.3\n72,605.2\n4,018,226.6\nAPRIL\n186,896.3\n65,974.0\n130,284.9\n380,884.8\n330,001.9\n799,952.4\n373,648.3\n109,735.0\n944,772.9\n44,964.9\n653,801.0\n75,850.9\n4,096,767.2\nMAY\n185,803.2\n73,167.5\n111,512.1\n523,774.7\n299,659.2\n801,335.5\n419,453.7\n113,355.0\n1,041,392.8\n50,057.9\n619,767.9\n71,388.8\n4,310,668.3\n TABLE 2.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \nUS$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n15 \n \n \n \n \n \n \n \n \nEnd Pe rio d\n19 9 9\n2 0 0 0\n2 0 0 1\n2 0 0 2\n2 0 0 3\n2 0 0 4\n2 0 0 5\n2 0 0 6\n2 0 0 7\n2 0 0 8\n2 0 0 9\n2 0 10\n2 0 11\n2 0 12\n2 0 13\n2 0 14\n( US $ millio ns )\nLo ng - Te rm Ext e rnal De b t\n3 ,53 0\n3 ,2 2 7\n3 ,2 55\n3 ,3 2 7\n3 ,6 4 4\n3 ,9 2 7\n3 ,8 0 5\n3 ,9 6 5\n4 ,0 3 2\n4 ,4 6 4\n4 ,9 51\n5,175\n6 ,0 9 6\n6 ,6 0 7\n7,3 70\n8 ,4 4 4\nGo ve rnme nt\n2 ,4 6 1\n2 ,2 4 9\n2 ,3 2 8\n2 ,3 76\n2 ,6 17\n2 ,8 4 4\n2 ,8 9 5\n3 ,0 2 4\n3 ,0 54\n3 ,4 6 4\n4 ,0 3 7\n4 ,0 9 5\n4 ,6 3 8\n4 ,9 2 9\n5,0 12\n4 ,52 2\nBilateral Creditors\n935\n1,050\n1,115\n1,107\n1,255\n1,455\n1,438\n1,520\n1,520\n1,863\n2,308\n2,325\n2,597\n2,694\n2,928\n2,445\nMultilateral Creditors\n1,235\n1,199\n1,213\n1,269\n1,362\n1,389\n1,457\n1,504\n1,524\n1,592\n1,729\n1,770\n2,041\n2,235\n2,084\n2,078\nPrivate Creditors\n291\n0\n0\n0\n0\n0\n0\n0\n10\n10\n0\n0\n0\n0\n0\n0\nPub lic Ent e rp ris e s\n54 3\n53 4\n56 8\n6 16\n6 9 8\n714\n70 9\n76 6\n79 0\n8 2 5\n8 57\n9 3 8\n1,0 9 2\n1,19 8\n1,3 56\n1,6 6 1\nBilateral Creditors\n316\n301\n315\n351\n403\n442\n439\n464\n474\n497\n453\n238\n711\n703\n858\n1,155\nMultilateral Creditors\n224\n233\n253\n265\n295\n272\n270\n302\n316\n327\n403\n700\n382\n495\n498\n506\nPrivate Creditors\n3\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\nM o ne t ary Aut ho rit ie s\n3 6 4\n2 9 2\n2 9 2\n2 79\n2 8 8\n2 9 1\n14 4\n13 0\n13 7\n14 0\n14 0\n13 8\n12 7\n12 5\n12 5\n12 0\nMultilateral Creditors - IMF\n364\n292\n292\n279\n288\n291\n144\n130\n137\n140\n140\n138\n127\n125\n125\n120\nPrivat e\n16 2\n152\n6 7\n56\n4 1\n78\n57\n4 5\n51\n3 5\n57\n14 2\n3 6 6\n4 8 0\n1,0 0 2\n2 ,2 6 1\nS ho rt - Te rm Ext e rnal De b t\n53 2\n2 9 8\n16 7\n18 3\n16 9\n14 4\n173\n2 8 1\n3 8 7\n2 2 6\n1,19 8\n1,3 8 2\n1,2 8 9\n8 9 0\n1,56 4\n2 ,3 9 4\nSupplier's Credits\n150\n42\n13\n26\n51\n69\n107\n122\n178\n41\n193\n286\n134\n30\n0\n0\nReserve Bank\n642\n642\n618\n614\n614\n587\nPrivate\n382\n256\n154\n157\n118\n75\n66\n159\n209\n185\n363\n454\n537\n246\n950\n1,807\nTo t al Ext e rnal De b t\n4 ,0 6 2\n3 ,52 5\n3 ,4 2 2\n3 ,510\n3 ,8 12\n4 ,0 71\n3 ,9 78\n4 ,2 4 6\n4 ,4 19\n4 ,6 9 0\n6 ,14 9\n6 ,557\n7,3 8 5\n7,4 9 7\n8 ,9 3 4\n10 ,8 3 8\nGro s s Do me s t ic Pro d uc t\n5,990\n6,107\n10,887\n6,715\n5,037\n4,299\n2,918\n6,645\n4,000\n3,175\n8,157\n9,457\n10,956\n12,472\n13,490\n14,068\nExt e rnal De b t / GDP\n6 8 %\n57.7%\n3 1.4 %\n52 .3 %\n75.7%\n9 4 .7%\n13 6 .3 %\n6 3 .9 %\n110 .5%\n14 7.7%\n75.4 %\n6 9 .3 %\n6 7.4 %\n6 0 .1%\n6 6 .2 %\n77.0 %\nSOURCE: M inistry of Finance and Reserve Bank of Zimbabwe\nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)\n \n \nMONTHLY ECONOMIC REVIEW \n16 \n \n \nEnd Period\nNominal Lending Rates2\nIndividuals \nCorporate\n2014 \nJan\n6.00-35.00\n14.09 \n9.30 \nFeb \n6.00-35.00\n14.08 \n9.32 \nMar\n6.00-35.00\n14.24 \n9.27 \nApr\n6.00-35.00\n14.22 \n9.12 \nMay\n6.00-35.00\n14.39 \n9.25 \nJun\n6.00-35.00\n14.44 \n9.33 \nJul\n6.00-35.00\n14.33 \n9.45 \nAug\n6.00-35.00\n14.28 \n9.45 \nSep\n6.00-35.00\n14.45 \n9.57 \nOct\n6.00-35.00\n14.36 \n9.90 \nNov\n6.00-35.00\n14.26 \n9.97 \nDec\n6.00-35.00\n14.19 \n9.68 \n2015 \nJan\n6.00-35.00\n14.16 \n9.66 \nFeb\n4.30-33.50\n14.00 \n9.73 \nMar\n4.30-33.50\n13.24 \n8.75 \nApr\n4.30-31.00\n12.71 \n8.84 \nMay\n5.00-31.00\n12.74 \n8.79 \nNotes\n3. Lending rates exclude rates on staff loans. \nTABLE 4.1 LENDING RATES (percent per annum)1\n2. Nominal Lending Rates depict the range of rates quoted by banks.\nCommercial Banks\nWeighted Average Lending Rates 3 \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n \n \nMONTHLY ECONOMIC REVIEW \n17 \n \n \nEND OF\nSAVINGS\n3 MONTHS\n2014 \nJan\n0.15-8.00\n3.00-20.00\nFeb \n0.15-8.00\n3.00-20.00\nMar\n0.15-8.00\n3.00-20.00\nApr\n0.15-8.00\n3.00-20.00\nMay\n0.15-8.00\n3.00-20.00\nJun\n0.15-8.00\n3.00-20.00\nJul\n0.15-8.00\n3.00-20.00\nAug\n0.15-8.00\n4.00-20.00\nSep\n0.15-8.00\n4.00-20.00\nOct\n0.15-8.00\n4.00-20.00\nNov\n0.15-8.00\n4.00-20.00\nDec\n0.15-8.00\n3.00-20.00\n2015 \nJan\n0.15-8.00\n3.00-17.00\nFeb\n0.50-12.00\n1.00-17.00\nMar\n0.50-12.00\n1.00-17.00\nApr\n0.30-8.00\n1.00-17.00\nMay\n0.30-8.00\n1.00-17.00\n* The range of rates qouted by banks during the period.\nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)*\nCOMMERCIAL BANKS\n \n \nMONTHLY ECONOMIC REVIEW \n18 \n \n \n \n \nFOOD IN FLA TION\nA LL\nA LC OHOLIC \nB EV ER A GES \nC LOTHIN G\nHS IN G, WA TER ,\nFU R N ITU R E\nHEA LTH\nTR A N S POR T\nC OM M U N IC A TION\nR EC R EA TION &\nED U C A TION\nR ES TA U R A N TS &\nM IS C .\nTOTA L N ON\nFOOD & \nITEM S\n& TOB A C C O\nFOOTWEA R\nELEC TR IC TY , \nGA S\nA N D\nC U LTU R E\nHOTELS\nGOOD S &\nFOOD\nN ON A LC OHOLIC \nB EV ER A GES\n& OTHER\nEQU IPM EN T\nS ER V IC ES\nFU ELS\nWEIGHTS\n4 .3 8\n6 .0 5\n17.74\n9 .9 1\n2 .16\n9 .76\n3 .4 1\n2 .1\n5.6 7\n1.3 8\n3 .9 1\n6 6 .4 7\n3 3 .53\n10 0\n2013\nOC TOB ER\n1.2 1\n0 .0 0\n- 0 .0 1\n- 0 .3 6\n0 .0 6\n- 0 .3 2\n- 0 .0 7\n- 0 .15\n0 .0 2\n- 0 .0 8\n- 0 .2 0\n- 0 .0 4\n0 .0 4\n- 0 .0 1\nN OV EM B ER\n0 .3 8\n- 0 .19\n- 0 .0 1\n- 0 .3 7\n0 .10\n- 0 .13\n- 0 .0 1\n- 0 .13\n5.57\n1.0 8\n- 0 .2 7\n0 .4 3\n- 0 .6 0\n0 .0 9\nD EC EM B ER\n0 .14\n- 0 .0 1\n0 .3 7\n- 0 .2 9\n0 .12\n0 .2 7\n0 .0 5\n- 0 .2 2\n0 .0 0\n0 .0 0\n- 0 .4 6\n0 .0 8\n- 0 .4 1\n- 0 .0 8\n2014\nJA N U A R Y\n0 .2 0\n- 0 .0 7\n0 .0 0\n0 .0 1\n- 0 .2 3\n0 .0 1\n0 .0 0\n- 0 .0 7\n0 .0 2\n0 .16\n- 0 .0 9\n0 .0 0\n0 .4 4\n0 .14\nFEB R U A R Y\n- 0 .0 1\n- 0 .0 9\n- 0 .11\n- 0 .0 8\n0 .0 9\n0 .0 8\n0 .0 0\n- 0 .0 4\n0 .2 3\n- 0 .0 8\n0 .0 7\n- 0 .0 1\n0 .18\n0 .0 5\nM A R C H\n- 0 .0 5\n- 0 .0 6\n- 0 .8 2\n- 0 .12\n0 .0 2\n0 .0 0\n0 .0 1\n0 .0 0\n0 .0 0\n0 .0 1\n- 0 .3 0\n- 0 .2 6\n- 0 .14\n- 0 .2 2\nA PR IL\n0 .3 0\n- 0 .10\n- 0 .13\n- 0 .75\n0 .16\n0 .3 3\n- 0 .0 2\n0 .3 4\n12 .6 4\n- 1.0 2\n- 0 .0 3\n1.0 9\n- 0 .4 6\n0 .58\nM A Y\n0 .11\n- 0 .11\n- 0 .0 6\n- 0 .2 9\n0 .0 0\n0 .2 3\n- 0 .0 3\n- 0 .2 0\n0 .0 7\n- 0 .13\n- 0 .4 3\n- 0 .0 5\n- 0 .3 0\n- 0 .13\nJU N E\n- 0 .0 5\n0 .12\n0 .0 0\n0 .0 6\n0 .3 0\n- 0 .0 3\n0 .0 0\n- 0 .0 9\n0 .0 0\n- 0 .11\n0 .15\n0 .0 2\n- 0 .12\n- 0 .0 3\nJU LY\n- 0 .4 7\n- 0 .2 1\n0 .12\n0 .3 0\n- 0 .0 1\n0 .11\n- 0 .12\n- 0 .13\n- 0 .0 8\n1.79\n0 .8 5\n- 0 .3 7\n0 .2 5\n0 .0 1\nA U GU S T\n- 0 .8 1\n- 0 .0 5\n- 0 .0 9\n0 .0 0\n- 0 .14\n0 .0 4\n0 .2 8\n- 0 .0 6\n- 0 .0 8\n- 0 .0 2\n0 .0 2\n- 1.2 1\n- 0 .0 7\n- 0 .3 1\nS EPTEM B ER\n0 .10\n0 .14\n0 .4 5\n- 0 .2 7\n0 .2 1\n0 .3 8\n- 0 .0 6\n- 0 .14\n0 .0 0\n- 0 .4 0\n0 .11\n0 .15\n- 0 .3 4\n- 0 .0 1\nOC TOB ER\n0 .16\n0 .0 7\n0 .0 0\n- 0 .14\n- 0 .0 1\n- 0 .2 7\n- 0 .0 6\n- 0 .0 4\n0 .0 1\n0 .0 2\n0 .0 3\n- 0 .0 4\n- 0 .2 4\n- 0 .11\nN OV EM B ER\n0 .19\n0 .12\n- 0 .0 3\n- 0 .0 9\n0 .0 9\n0 .10\n0 .0 2\n0 .0 2\n- 9 .18\n- 0 .6 2\n0 .0 6\n- 0 .9 6\n- 0 .11\n- 0 .6 9\nD EC EM B ER\n0 .0 1\n- 0 .10\n0 .16\n- 0 .10\n0 .13\n0 .19\n0 .0 0\n- 0 .16\n0 .0 0\n- 0 .2 3\n- 0 .15\n0 .0 4\n- 0 .3 6\n- 0 .0 9\n2015\nJA N U A R Y\n- 0 .0 4\n- 0 .0 1\n0 .0 8\n0 .0 7\n0 .0 6\n- 0 .9 7\n- 13 .4 1\n0 .0 2\n- 0 .0 8\n- 0 .4 8\n0 .3 0\n- 0 .6 9\n0 .4 0\n- 0 .3 4\nFEB R U A R Y\n0 .2 5\n- 0 .3 5\n- 0 .0 9\n- 0 .11\n- 0 .0 2\n- 0 .4 1\n- 0 .10\n- 0 .17\n0 .0 0\n- 0 .2 8\n0 .10\n- 0 .13\n0 .0 5\n- 0 .0 7\nM A R C H\n0 .12\n- 0 .2 7\n- 0 .0 6\n- 0 .0 2\n- 0 .0 5\n0 .0 2\n0 .0 0\n0 .0 3\n0 .0 0\n0 .12\n0 .10\n- 0 .0 3\n- 0 .0 3\n- 0 .0 3\nA PR IL\n- 0 .6 3\n- 0 .0 1\n- 0 .71\n- 3 .3 5\n- 0 .4 6\n- 0 .0 5\n- 0 .15\n- 0 .13\n- 0 .0 7\n0 .59\n0 .4 1\n- 0 .0 4\n- 1.0 1\n- 0 .8 9\nM A Y\n- 0 .17\n- 0 .4 1\n0 .18\n- 0 .2 5\n0 .10\n- 0 .2 5\n- 0 .0 2\n- 0 .11\n0 .0 0\n- 0 .0 8\n- 0 .4 4\n- 0 .10\n- 0 .3 7\n- 0 .19\nN ON - FOOD IN FLA TION\nTABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX\n( DECEMBER 2012 = 100)\n \n \nMONTHLY ECONOMIC REVIEW \n19 \n \n \nFOOD \nIN FLA TION\nA LL\nA LC OHOLIC \nB EV ER A GES \nC LOTHIN G\nHS IN G, \nWA TER ,\nFU R N ITU R E\nHEA LTH\nTR A N S POR T\nC OM M U N IC A\nTION\nR EC R EA TION \n&\nED U C A TION\nR ES TA U R A N\nTS &\nM IS C .\nTOTA L N ON\nFOOD & \nITEM S\n& TOB A C C O\nFOOTWEA R\nELEC TR IC TY , \nGA S\nA N D\nC U LTU R E\nHOTELS\nGOOD S &\nFOOD\nN ON \nA LC OHOLIC \nB EV ER A GES\n& OTHER\nEQU IPM EN T\nS ER V IC ES\nFU ELS\nWEIGHTS\n4 .3 8\n6 .0 5\n17.74\n9 .9 1\n2 .16\n9 .76\n3 .4 1\n2 .1\n5.6 7\n1.3 8\n3 .9 1\n6 6 .4 7\n3 3 .53\n10 0\n2 0 13\nS EPTEM B ER\n4 .3 6\n0 .6 1\n3 .7\n- 0 .3 7\n2 .1\n5.0 6\n- 13 .6 6\n- 1.0 1\n5.74\n1.2 3\n0 .9 3\n1.4 5\n- 0 .3 2\n0 .8 6\nOC TOB ER\n5.2 3\n0 .2 5\n2 .9 6\n- 0 .7\n2 .2 1\n1.4\n- 13 .76\n- 0 .73\n9 .0 5\n0 .8 3\n- 0 .2\n1.2 5\n- 0 .74\n0 .59\nN OV EM B ER\n5.9 4\n- 0 .0 7\n3 .51\n- 1.0 3\n2 .4 2\n- 7.0 4\n- 13 .8 3\n- 0 .9 2\n11.19\n2 .0 6\n- 0 .3 5\n1.58\n- 1.51\n0 .54\nD EC EM B ER\n4 .2 6\n0 .0 9\n3 .6 3\n- 1.0 8\n2 .11\n1.6 1\n- 13 .9 9\n- 1.0 3\n11.2 9\n2 .0 3\n- 0 .8 7\n1.6 1\n- 2 .2\n0 .3 3\n2 0 14\nJA N U A R Y\n5.0 3\n0 .0 3\n3 .6 3\n- 1.0 7\n1.8 7\n1.6 2\n- 14\n- 1.12\n11.3\n2 .18\n- 0 .4 3\n1.6 7\n- 2 .0 8\n0 .4 1\nFEB R U A R Y\n2 .2 1\n- 0 .4 3\n3 .0 9\n- 1.3 5\n0 .4 4\n0 .0 5\n- 13 .8 6\n- 1.0 8\n11.4 7\n1.3 2\n- 1.4 5\n0 .9 3\n- 3 .2 6\n- 0 .4 9\nM A R C H\n1.6 7\n- 0 .53\n2 .2 1\n- 1.8 2\n0 .4\n- 0 .4 4\n- 13 .6 8\n- 1.2 1\n11.4 7\n2 .4 7\n- 1.8 2\n0 .51\n- 3 .71\n- 0 .9 1\nA PR IL\n1.78\n- 0 .55\n0 .4 6\n- 2 .6\n0 .2 2\n- 0 .11\n- 0 .6 2\n- 0 .9 3\n2 0 .71\n1.13\n- 1.56\n1.5\n- 3 .73\n- 0 .2 6\nM A Y\n1.9 1\n- 0 .8 3\n0 .3 9\n- 2 .6 2\n0 .2 9\n0 .8 6\n- 0 .6\n- 0 .6 4\n2 0 .79\n0 .9 5\n- 1.6 9\n1.6 2\n- 3 .75\n- 0 .19\nJU N E\n1.6 8\n- 0 .8 1\n0 .4\n- 2 .54\n0 .6 4\n0 .9 7\n- 0 .2 7\n- 0 .8 4\n2 0 .79\n0 .9 9\n- 1.6 7\n1.6 7\n- 3 .54\n- 0 .0 8\nJU LY\n- 2 .8 8\n1.6 4\n- 0 .6 8\n0 .7\n- 2 .4\n0 .8\n0 .5\n- 0 .4\n- 0 .8\n2 3\n1.8\n- 2\n1.9\n0 .3\nA U GU S T\n- 2 .79\n2 .0 2\n- 0 .4 4\n- 0 .1\n- 2 .5\n0 .6\n0 .7\n- 0 .3\n- 0 .8\n2 1.4\n0 .9\n- 2 .8\n1.6\n0 .2\nS EPTEM B ER\n2 .10\n- 0 .3 4\n- 0 .0 3\n- 2 .6 0\n0 .9 8\n0 .9 9\n- 0 .3 2\n- 0 .8 5\n2 1.4 2\n0 .2 8\n- 3 .0 6\n1.59\n- 2 .9 5\n0 .0 9\nOC TOB ER\n1.0 4\n- 0 .2 7\n- 0 .0 1\n- 2 .3 8\n0 .9 1\n1.0 4\n- 0 .3 1\n- 0 .75\n2 1.4 1\n0 .3 8\n- 2 .8 3\n1.59\n- 3 .2 3\n0 .0 0\nN OV EM B ER\n0 .8 4\n0 .0 4\n- 0 .0 3\n- 2 .11\n0 .9 1\n1.2 6\n- 0 .2 8\n- 0 .59\n4 .4 4\n- 1.3 1\n- 2 .50\n0 .17\n- 2 .75\n- 0 .78\nD EC EM B ER\n0 .71\n- 0 .0 5\n- 0 .2 4\n- 1.9 2\n0 .9 2\n1.18\n- 0 .3 3\n- 0 .53\n4 .4 5\n- 1.54\n- 2 .2 1\n0 .13\n- 2 .7\n- 0 .8\n2 0 15\nJA N U A R Y\n0 .4 7\n0 .0 0\n- 0 .16\n- 1.8 6\n1.2 1\n0 .19\n- 13 .6 9\n- 0 .4 4\n4 .3 5\n- 2 .16\n- 1.8 2\n- 0 .57\n- 2 .74\n- 1.2 8\nFEB R U A R Y\n0 .73\n- 0 .2 5\n- 0 .14\n- 1.8 8\n1.10\n- 0 .3 0\n- 13 .78\n- 0 .57\n4 .11\n- 2 .3 6\n- 1.8 0\n- 0 .6 8\n- 2 .8 7\n- 1.4 0\nM A R C H\n0 .9 0\n- 0 .4 6\n0 .6 2\n- 1.78\n1.0 3\n- 0 .2 8\n- 13 .78\n- 0 .54\n4 .11\n- 2 .2 6\n- 1.4 1\n- 0 .4 4\n- 2 .77\n- 1.2 0\nA PR IL\n- 2 .9 3\n0 .59\n- 1.0 7\n- 2 .6 2\n- 1.50\n0 .8 1\n- 0 .76\n- 13 .8 8\n- 0 .9 5\n- 7.0 2\n- 0 .8 4\n- 1.4 1\n- 2 .51\n- 2 .6 5\nM A Y\n0 .3 1\n- 1.3 7\n- 2 .3 9\n- 1.4 5\n0 .9 2\n- 1.2 3\n- 13 .8 7\n- 0 .8 6\n- 7.0 9\n- 0 .79\n- 1.4 2\n- 2 .56\n- 3 .0 0\n- 2 .70\nN ON - FOOD IN FLA TION\nTABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1\n(DECEMBER 2012 = 100)\n \n \nMONTHLY ECONOMIC REVIEW \n20 \n \n \nSA\nBW\nJAPANESE\nEUROPEAN\nPOUND\nEND OF\nRAND/1\nPULA/1\nYEN/1\nCURRENCY/2\nSTERLING/2\n2014\nJANUARY\n11.21\n9.09\n102.47\n1.35\n1.65\nFEBRUARY\n10.71\n8.85\n101.74\n1.37\n1.67\nMARCH\n10.56\n8.85\n102.38\n1.38\n1.68\nAPRIL\n10.57\n8.85\n102.38\n1.38\n1.68\nMAY\n10.44\n8.73\n101.61\n1.36\n1.67\nJUNE\n10.58\n8.67\n101.3\n1.36\n1.7\nJULY\n10.68\n8.85\n102.76\n1.36\n1.69\nAUGUST\n10.98\n9.07\n107.35\n1.29\n1.63\nSEPTEMBER\n11.26\n9.26\n109.39\n1.27\n1.63\nOCTOBER\n10.90\n9.11\n110.87\n1.26\n1.59\nNOVEMBER\n11.02\n9.22\n118.21\n1.38\n1.57\nDECEMBER\n11.56\n9.51\n119.65\n1.22\n1.56\n2015\nJANUARY\n11.55\n9.61\n117.85\n1.13\n1.51\nFEBRUARY\n11.55\n9.61\n119.17\n1.12\n1.54\nMARCH\n12.16\n9.96\n120.19\n1.08\n1.48\nAPRIL\n11.82\n9.74\n118.60\n1.11\n1.54\nMAY\n12.26\n9.92\n122.31\n1.02\n1.57\n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES\n \n \nMONTHLY ECONOMIC REVIEW \n21 \n \n \n \nForeign\nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\n&\nBalances\nBalances \nBalances\nwith RBZ\nBond\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgric PEs\n2013\nCoins\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n Jan\n323.4\n378.5\n103.4\n182.3\n247.8\n0.0\n0.0\n1235.5\n52.2\n2694.9\n386.1\n205.7\n386.7\n4961.1\n Feb\n292.2\n357.7\n120.5\n234.6\n239.9\n0.0\n0.0\n1244.9\n27.7\n2689.3\n328.8\n208.0\n388.3\n4887.0\n Mar\n271.6\n345.7\n196.1\n198.9\n265.3\n0.0\n0.0\n1277.6\n26.1\n2715.8\n367.2\n228.8\n388.0\n5003.5\n Apr\n263.8\n383.6\n201.1\n272.9\n289.9\n75.3\n5.2\n1491.7\n26.3\n2595.8\n341.3\n207.0\n382.1\n5044.2\n May\n250.9\n400.9\n198.2\n296.7\n253.5\n75.4\n5.3\n1480.8\n25.8\n2673.2\n389.8\n208.0\n382.9\n5160.4\n Jun\n227.2\n416.4\n171.9\n257.5\n271.8\n75.5\n5.3\n1425.8\n26.0\n2698.3\n364.1\n217.8\n384.6\n5116.5\n Jul\n266.5\n352.8\n164.2\n266.1\n263.8\n110.2\n6.4\n1429.9\n26.5\n2701.3\n337.1\n229.8\n387.0\n5111.7\n Aug.\n322.8\n277.9\n136.4\n242.5\n237.8\n61.1\n6.4\n1285.0\n26.2\n2813.0\n367.0\n218.3\n385.2\n5094.7\n Sep\n334.1\n336.0\n178.0\n327.8\n226.3\n111.5\n6.0\n1519.7\n26.9\n2773.3\n298.8\n234.7\n386.4\n5239.8\n Oct\n379.4\n387.5\n137.1\n219.7\n260.9\n99.4\n5.0\n1489.0\n17.3\n2809.1\n316.7\n257.3\n371.5\n5260.9\n Nov\n333.3\n312.7\n160.2\n197.1\n261.1\n108.6\n6.5\n1379.5\n26.6\n2789.7\n291.3\n235.4\n369.8\n5092.3\n Dec\n354.8\n367.8\n135.5\n287.3\n199.9\n118.0\n6.6\n1469.9\n28.4\n2799.5\n490.8\n259.5\n347.6\n5395.7\n2014\n Jan\n356.9\n395.3\n134.1\n253.1\n153.0\n119.2\n5.4\n1417.0\n27.9\n2866.4\n516.1\n362.2\n353.9\n5543.5\n Feb\n334.3\n387.0\n130.5\n285.0\n131.2\n193.2\n5.4\n1466.6\n32.8\n2718.1\n534.5\n502.9\n351.1\n5606.0\n Mar\n304.6\n354.1\n147.4\n280.3\n165.9\n255.2\n5.4\n1512.9\n28.7\n2737.9\n522.7\n538.8\n349.7\n5690.7\n Apr\n353.3\n367.8\n154.4\n274.9\n205.7\n247.0\n5.4\n1608.4\n32.5\n2844.6\n534.1\n345.3\n348.6\n5713.6\n May\n327.8\n421.1\n120.5\n372.8\n211.5\n241.7\n5.4\n1700.6\n27.5\n2836.8\n591.4\n366.2\n347.1\n5869.6\n Jun\n347.1\n404.7\n166.4\n338.1\n198.0\n261.9\n0.0\n1716.1\n16.2\n2863.2\n607.8\n362.9\n346.4\n5912.6\n Jul\n347.1\n321.3\n176.7\n276.3\n186.0\n246.2\n0.0\n1553.7\n15.4\n2940.4\n597.5\n347.4\n345.6\n5800.0\n Aug\n360.7\n424.5\n178.5\n243.5\n173.9\n237.5\n0.0\n1618.6\n15.5\n2949.1\n609.5\n353.9\n346.4\n5892.9\n Sep\n255.6\n636.8\n183.0\n158.8\n176.0\n253.9\n0.0\n1664.2\n4.1\n2949.4\n624.6\n371.5\n341.5\n5955.3\n Oct\n226.1\n597.7\n175.0\n205.5\n180.3\n260.1\n0.0\n1644.7\n15.6\n2938.4\n594.4\n369.0\n341.8\n5903.8\n Nov\n258.9\n556.7\n169.1\n157.5\n178.5\n281.6\n0.0\n1602.2\n4.2\n2951.6\n597.5\n369.4\n341.1\n5865.9\n Dec\n0.4\n309.5\n465.7\n167.6\n151.9\n184.3\n285.4\n0.0\n1564.7\n4.1\n2758.6\n606.2\n343.7\n356.0\n5633.3\n2015\n Jan\n0.6\n222.5\n527.9\n159.0\n182.6\n163.6\n325.7\n0.0\n1581.9\n21.4\n2796.8\n557.7\n360.2\n366.1\n5684.2\n Feb\n0.4\n216.7\n501.2\n149.6\n183.2\n128.6\n344.6\n0.0\n1524.2\n17.9\n2792.5\n564.8\n325.3\n356.8\n5581.5\n Mar\n0.6\n246.9\n461.4\n147.8\n222.2\n121.6\n338.0\n5.4\n1543.8\n15.5\n2925.5\n527.3\n352.5\n362.0\n5726.6\n Apr\n0.7\n205.5\n492.8\n158.6\n218.5\n112.0\n335.1\n5.4\n1528.6\n18.2\n2967.1\n527.1\n364.2\n385.4\n5790.7\n May\n0.7\n237.3\n495.6\n135.1\n181.0\n101.4\n622.7\n5.5\n1779.2\n18.2\n2922.7\n525.7\n434.2\n384.3\n6064.3\nLiquid Assets\nTABLE 7.1: COMMERCIAL BANKS - ASSETS\nSecurities\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n22 \n \n \n \n \n \n \nDeposits\nCapital\nContigent\nOther\nTotal\nOf which\nand\nLiablities\nLiablities\nLiabilities to the \nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\nPublic\n2013\n Jan\n2032.2\n866.1\n552.4\n3450.7\n266.1\n0.0\n27.8\n623.9\n386.1\n206.5\n4961.1\n3450.7\n Feb\n1987.8\n933.3\n491.5\n3412.5\n258.1\n0.0\n32.4\n631.9\n328.8\n223.3\n4887.0\n3417.9\n Mar\n1960.0\n976.3\n451.0\n3387.3\n290.9\n0.0\n32.8\n687.7\n367.2\n237.6\n5003.5\n3387.3\n Apr\n2074.5\n1046.3\n379.5\n3500.3\n247.6\n0.0\n37.9\n667.2\n341.3\n249.8\n5044.2\n3500.3\n May\n2066.0\n913.0\n479.9\n3459.0\n346.5\n0.0\n81.8\n674.4\n389.8\n209.0\n5160.4\n3459.0\n Jun\n2014.0\n919.6\n298.9\n3232.4\n553.0\n0.0\n74.1\n702.3\n364.1\n190.6\n5116.5\n3232.4\n Jul\n2054.1\n916.2\n245.9\n3216.2\n578.3\n0.0\n77.5\n699.7\n337.1\n202.9\n5111.7\n3216.2\n Aug.\n2017.4\n879.5\n253.2\n3150.1\n608.2\n0.0\n63.8\n694.9\n367.0\n210.8\n5094.7\n3150.1\n Sep\n2082.1\n899.3\n294.5\n3275.8\n674.6\n0.0\n74.0\n708.8\n298.8\n207.7\n5239.8\n3275.8\n Oct\n2125.9\n880.0\n349.3\n3355.2\n611.4\n0.0\n68.5\n703.0\n316.7\n206.0\n5260.9\n3355.2\n Nov\n1953.4\n861.2\n371.6\n3186.2\n627.8\n0.0\n75.8\n689.7\n291.3\n221.6\n5092.3\n3186.2\n Dec\n1980.4\n813.6\n517.1\n3311.1\n614.0\n0.0\n65.0\n730.9\n490.8\n184.0\n5395.7\n3311.1\n2014\n Jan\n2153.6\n802.7\n403.5\n3359.8\n661.3\n0.0\n55.9\n592.9\n516.1\n357.5\n5543.5\n3359.8\n Feb\n2111.8\n878.8\n494.6\n3485.2\n630.0\n0.0\n51.1\n609.5\n534.5\n359.0\n5669.5\n3485.2\n Mar\n2156.8\n919.6\n454.2\n3530.6\n635.5\n0.0\n44.8\n596.4\n522.7\n360.7\n5690.7\n3530.6\n Apr\n2267.5\n958.3\n435.7\n3661.5\n553.5\n0.0\n17.0\n595.0\n534.1\n352.4\n5713.6\n3661.5\n May\n2294.9\n975.8\n451.7\n3722.4\n585.0\n0.0\n13.7\n591.1\n591.4\n366.1\n5869.6\n3722.4\n Jun\n2248.9\n989.8\n506.1\n3744.8\n543.8\n0.0\n48.3\n591.2\n607.8\n376.7\n5912.6\n3744.8\n Jul\n2130.4\n892.9\n606.6\n3629.9\n560.8\n0.0\n39.5\n571.5\n597.5\n400.6\n5800.0\n3629.9\n Aug\n2202.3\n963.1\n539.9\n3705.3\n552.7\n0.0\n43.5\n580.7\n609.5\n401.2\n5892.9\n3705.3\n Sep\n2191.0\n1011.1\n562.6\n3764.8\n548.9\n0.0\n59.5\n544.8\n624.6\n412.7\n5955.3\n3764.8\n Oct\n2260.8\n1015.1\n509.9\n3785.8\n506.8\n0.0\n47.4\n543.3\n594.4\n426.0\n5903.8\n3785.8\n Nov\n2231.8\n943.4\n526.5\n3701.6\n509.4\n0.0\n90.6\n541.8\n597.5\n425.0\n5865.9\n3701.6\n Dec\n2101.6\n975.8\n453.2\n3530.5\n484.0\n0.0\n81.4\n713.6\n606.2\n217.5\n5633.3\n3530.5\n2015\nJan\n2056.2\n996.2\n561.7\n3614.0\n470.1\n0.0\n79.5\n728.5\n557.7\n234.3\n5684.2\n3614.0\nFeb\n2079.6\n876.1\n611.6\n3567.3\n426.6\n0.0\n75.6\n720.3\n564.8\n227.0\n5581.5\n3567.3\nMar\n2139.3\n940.4\n513.3\n3593.0\n461.1\n0.0\n101.9\n749.7\n527.3\n293.6\n5726.6\n3593.0\nApr\n2098.7\n943.5\n629.8\n3672.0\n448.9\n0.0\n103.4\n747.4\n527.1\n291.8\n5790.7\n3672.0\nMay\n2131.8\n1015.3\n615.3\n3762.4\n574.7\n0.0\n82.4\n814.7\n525.7\n304.4\n6064.3\n3762.4\nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES\nUS$ Millions\nAmounts Owing to\n \n \nMONTHLY ECONOMIC REVIEW \n23 \n \n \nForeign\nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\nBond\n&\nBalances\nBalances \nBalances\nLiquid\nwith RBZ\nCoins\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgris Pes\nAssets\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n2013\n Jan\n1.5\n2.7\n28.6\n0.0\n3.4\n0.0\n0.0\n36.2\n0.0\n236.7\n34.8\n60.2\n29.1\n397.0\n Feb\n4.7\n1.5\n18.4\n0.0\n4.5\n0.0\n0.0\n26.9\n0.0\n245.7\n34.8\n63.9\n28.9\n398.2\n Mar\n2.5\n1.1\n7.3\n-3.1\n1.2\n0.0\n0.0\n8.9\n0.0\n260.3\n34.2\n50.4\n28.8\n382.6\n Apr\n2.7\n1.3\n20.1\n-1.9\n1.2\n0.0\n0.0\n23.4\n0.0\n254.9\n34.2\n51.7\n27.7\n392.0\n May\n2.4\n4.1\n18.6\n-2.4\n4.5\n0.0\n0.0\n27.3\n0.0\n253.4\n34.6\n63.0\n12.7\n391.0\n Jun\n2.4\n3.6\n7.9\n1.1\n9.1\n0.0\n0.0\n24.1\n0.0\n260.3\n34.6\n51.4\n35.2\n405.6\n Jul\n1.9\n1.3\n2.8\n2.2\n3.4\n0.0\n0.0\n11.6\n0.0\n264.0\n34.8\n51.7\n35.5\n397.6\n Aug\n1.4\n1.7\n0.4\n0.6\n3.4\n0.0\n0.0\n7.4\n0.0\n265.6\n34.5\n45.5\n37.3\n390.3\n Sep\n1.2\n0.8\n0.0\n0.3\n3.4\n0.0\n0.0\n5.7\n0.0\n233.7\n35.8\n46.6\n38.6\n360.4\n Oct\n0.9\n0.5\n0.4\n0.6\n2.5\n0.0\n0.0\n4.8\n0.0\n234.8\n35.6\n41.3\n38.7\n355.2\n Nov\n0.4\n0.6\n0.1\n0.2\n2.5\n0.0\n0.0\n3.9\n0.0\n231.9\n35.5\n39.6\n38.3\n349.2\n Dec\n1.1\n0.5\n0.1\n0.4\n2.5\n0.0\n0.0\n4.6\n0.0\n232.7\n35.5\n29.2\n40.5\n342.5\n2014\n Jan\n0.1\n0.5\n0.0\n0.2\n1.8\n0.0\n0.0\n2.6\n0.0\n81.3\n10.0\n23.5\n34.7\n152.1\n Feb\n0.2\n0.4\n0.1\n0.1\n1.8\n0.0\n0.0\n2.5\n0.0\n77.6\n9.0\n24.1\n34.6\n147.9\n Mar\n0.1\n0.1\n0.1\n0.1\n1.6\n0.0\n0.0\n2.0\n0.0\n53.2\n8.7\n21.8\n32.5\n118.1\n Apr\n0.1\n0.4\n0.2\n0.3\n1.6\n0.0\n2.6\n5.2\n75.2\n8.5\n22.2\n32.4\n140.9\n284.4\n May\n0.2\n0.4\n0.0\n0.1\n0.3\n0.0\n0.9\n1.9\n68.7\n0.1\n14.6\n30.3\n114.6\n230.2\n Jun\n0.2\n0.2\n0.1\n0.0\n0.6\n0.0\n0.0\n1.2\n0.0\n66.8\n0.1\n14.7\n29.6\n112.4\n Jul\n0.2\n0.3\n0.0\n0.1\n0.3\n0.0\n0.0\n0.9\n0.0\n66.9\n0.1\n12.9\n28.7\n109.6\n Aug\n0.2\n0.7\n0.0\n0.1\n0.3\n0.0\n0.0\n1.3\n0.0\n64.4\n0.0\n19.4\n23.9\n109.0\n Sep\n0.4\n0.2\n0.0\n0.1\n0.3\n0.0\n0.0\n1.1\n0.0\n65.9\n0.1\n18.9\n19.7\n105.8\n Oct\n0.7\n0.7\n0.0\n0.1\n0.3\n0.0\n0.0\n1.7\n0.0\n68.3\n0.1\n10.8\n25.9\n106.9\n Nov\n0.6\n0.1\n0.0\n0.1\n0.3\n0.0\n0.0\n1.0\n0.0\n67.1\n0.1\n12.4\n25.8\n106.3\nDec\n0.9\n0.4\n0.0\n0.1\n0.3\n0.0\n0.0\n1.7\n0.0\n63.6\n0.1\n10.0\n24.6\n100.0\n2015\n Jan\n0.6\n0.3\n0.0\n0.1\n1.6\n0.0\n0.0\n2.0\n0.0\n70.2\n8.3\n19.0\n23.7\n123.8\n Feb\n0.4\n0.2\n0.1\n0.1\n1.6\n0.0\n0.0\n2.5\n0.0\n72.0\n8.3\n19.3\n23.6\n125.7\n Mar\n0.4\n0.1\n0.0\n0.1\n1.5\n0.0\n0.0\n2.1\n0.0\n73.3\n8.2\n18.5\n23.4\n125.5\n Apr\n0.3\n0.1\n0.0\n0.1\n0.2\n0.0\n0.0\n0.6\n0.0\n66.7\n0.0\n10.3\n21.3\n98.9\n May\n0.4\n0.0\n0.0\n0.0\n0.2\n0.0\n0.0\n0.6\n0.0\n67.9\n0.0\n9.6\n21.2\n99.3\nUS$ Millions\nTABLE 8.1 : ACCEPTING HOUSES - ASSETS\nLiquid Assets\nSecurities\n \n \nMONTHLY ECONOMIC REVIEW \n24 \n \n \nOf which\nDeposits\nCapital\nContigent\nOther\nTotal\nLiabilities to the \nand\nLiablities\nLiablities\nPublic\nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\n2013\n Jan\n106.9\n91.7\n21.3\n220.0\n44.8\n0.0\n2.7\n-72.4\n34.8\n167.2\n397.0\n220.0\n Feb\n102.8\n66.0\n55.7\n224.5\n45.3\n0.0\n2.7\n-77.8\n34.8\n168.7\n398.2\n224.5\n Mar\n104.3\n62.3\n52.8\n219.5\n45.8\n0.0\n1.2\n-97.3\n34.2\n179.3\n382.6\n219.5\n Apr\n107.3\n64.6\n56.3\n228.3\n45.4\n0.0\n1.2\n-98.1\n34.2\n181.1\n392.0\n228.3\n May\n112.2\n67.1\n54.4\n233.6\n46.7\n0.0\n1.2\n-99.4\n34.6\n174.3\n391.0\n233.6\n Jun\n114.6\n56.2\n52.3\n223.1\n46.7\n0.0\n1.2\n-91.2\n34.6\n191.2\n405.6\n223.1\n Jul\n111.3\n82.7\n27.0\n220.9\n47.1\n0.0\n1.2\n-94.1\n34.8\n187.8\n397.6\n220.9\n Aug\n109.5\n80.6\n25.2\n215.2\n47.5\n0.0\n1.2\n-101.7\n34.5\n193.6\n390.3\n215.2\n Sep\n111.2\n82.6\n19.0\n212.8\n47.9\n0.0\n1.2\n-114.9\n35.8\n177.8\n360.4\n212.8\n Oct\n112.5\n80.4\n14.9\n207.8\n48.2\n0.0\n1.2\n-114.3\n35.6\n176.7\n355.2\n207.8\n Nov\n122.6\n59.7\n20.0\n202.3\n48.2\n0.0\n1.2\n-118.2\n35.5\n180.2\n349.2\n202.3\n Dec\n134.5\n56.4\n6.9\n197.8\n48.9\n0.0\n1.2\n-127.6\n35.5\n186.7\n342.5\n197.8\n2014\n Jan\n36.8\n57.7\n5.7\n100.1\n11.7\n0.0\n0.0\n0.7\n10.0\n29.5\n152.1\n100.1\n Feb\n47.6\n48.3\n0.0\n95.8\n11.7\n0.0\n0.0\n-10.9\n9.0\n42.3\n147.9\n95.8\n Mar\n41.0\n55.8\n0.0\n96.9\n12.0\n0.0\n0.0\n-17.7\n8.7\n18.4\n118.1\n96.9\n Apr\n57.4\n40.3\n0.0\n97.7\n12.2\n0.0\n0.0\n-19.8\n8.5\n42.4\n140.9\n97.7\n May\n42.8\n34.6\n0.0\n77.4\n0.0\n0.0\n0.0\n4.7\n0.1\n32.5\n114.6\n77.4\n Jun\n42.8\n33.2\n0.0\n76.0\n0.0\n0.0\n0.0\n2.3\n0.1\n33.7\n112.1\n76.0\n Jul\n42.6\n33.8\n0.0\n76.3\n0.0\n0.0\n0.0\n-8.7\n0.1\n41.8\n109.6\n76.3\n Aug\n36.4\n40.4\n0.0\n76.8\n0.0\n0.0\n0.0\n-7.8\n0.0\n40.0\n109.0\n76.8\n Sep\n40.9\n33.9\n0.0\n74.9\n0.0\n0.0\n0.0\n-7.6\n0.1\n38.4\n105.8\n74.9\n Oct\n39.9\n33.7\n0.0\n73.6\n0.0\n0.0\n0.0\n-9.6\n0.1\n42.8\n106.9\n73.6\n Nov\n39.4\n33.3\n0.0\n72.7\n0.0\n0.0\n0.0\n-10.9\n0.1\n44.4\n106.3\n72.7\nDec\n36.9\n31.2\n0.0\n68.1\n0.0\n0.0\n0.0\n-17.9\n0.1\n49.7\n100.0\n68.1\n2015\n Jan\n39.0\n40.9\n0.0\n80.0\n11.7\n0.0\n0.0\n-47.0\n8.3\n70.7\n123.8\n80.0\n Feb\n38.4\n40.4\n0.0\n78.7\n11.7\n0.0\n0.0\n-48.7\n8.3\n75.6\n125.7\n78.7\n Mar\n68.6\n12.1\n0.0\n80.7\n12.0\n0.0\n0.0\n-50.7\n8.2\n75.2\n125.5\n80.7\n Apr\n63.9\n0.0\n0.0\n63.9\n0.0\n0.0\n0.0\n-27.5\n0.0\n62.4\n98.9\n63.9\n May\n63.9\n0.0\n0.0\n63.9\n0.0\n0.0\n0.0\n-28.8\n0.0\n64.2\n99.3\n63.9\nAmounts Owing to\nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n25 \n \n \nForeign\nMortgage\nOther\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvances\nAdvances\nAssets\nAssets\n&\nBalances \nNostro \nwith RBZ/1\nBond\nCoin\nwith Other \nBalances\nTrade\nTreasury\nAgris Pes\nCoins\nat Banks\nBanks\nBills\n2013\nJan\n20.4\n125.5\n0.0\n0.2\n0.0\n0.0\n146.1\n0.0\n283.2\n118.5\n36.1\n121.4\n705.3\nFeb\n20.2\n64.3\n0.0\n0.0\n0.0\n0.0\n84.5\n0.0\n291.8\n117.9\n35.3\n121.4\n734.2\nMar\n18.8\n129.1\n0.0\n0.2\n20.0\n0.0\n168.1\n0.0\n291.4\n116.9\n39.5\n121.4\n737.3\nApr\n16.9\n159.8\n0.0\n0.2\n20.2\n0.0\n197.2\n0.0\n294.8\n115.5\n39.5\n122.1\n769.1\nMay\n30.2\n179.6\n0.0\n0.0\n20.3\n0.0\n230.0\n0.0\n307.3\n120.3\n40.4\n121.9\n819.9\nJun\n28.6\n178.8\n0.0\n0.0\n20.0\n0.0\n227.3\n0.0\n314.2\n122.4\n44.6\n121.8\n830.3\nJul\n26.1\n207.4\n0.0\n0.0\n20.0\n0.0\n253.5\n0.0\n312.4\n123.1\n48.3\n121.6\n858.9\nAug\n34.7\n204.1\n0.0\n0.0\n20.0\n0.0\n258.8\n0.0\n320.6\n123.0\n46.4\n124.1\n872.9\nSep\n36.4\n204.9\n0.0\n0.0\n20.0\n0.0\n261.3\n0.0\n353.4\n122.7\n51.9\n124.6\n913.9\nOct\n39.3\n186.8\n0.0\n0.0\n20.0\n0.0\n246.1\n0.0\n358.4\n128.2\n51.8\n122.4\n906.9\nNov\n39.7\n163.1\n0.0\n0.0\n40.0\n0.0\n242.8\n0.0\n361.6\n135.8\n43.6\n122.6\n906.4\nDec\n34.8\n158.8\n0.0\n0.0\n40.0\n0.0\n233.6\n0.0\n381.5\n127.7\n55.2\n123.0\n920.9\n2014\nJan\n30.9\n147.5\n0.2\n40.0\n0.0\n218.6\n0.0\n384.5\n136.4\n64.4\n125.3\n929.1\nFeb\n30.2\n165.0\n0.0\n0.2\n40.0\n0.0\n235.3\n0.0\n385.8\n132.0\n65.4\n125.4\n943.9\nMar\n47.5\n166.2\n0.0\n0.2\n40.0\n0.0\n253.8\n0.0\n390.4\n132.1\n68.8\n125.0\n970.1\nApr\n45.2\n161.0\n0.0\n0.2\n40.0\n0.0\n246.5\n0.0\n401.8\n132.4\n76.6\n124.7\n981.9\nMay\n47.7\n190.7\n0.0\n0.2\n40.0\n0.0\n278.6\n0.0\n394.0\n147.0\n82.7\n124.3\n1026.7\nJun\n39.5\n187.9\n0.0\n0.0\n40.0\n0.0\n267.4\n0.0\n400.0\n150.4\n84.0\n124.4\n1026.1\nJul\n40.6\n180.9\n0.0\n0.0\n40.0\n0.0\n261.5\n0.0\n431.8\n159.4\n84.1\n124.4\n1061.2\nAug\n17.8\n219.8\n0.0\n0.0\n51.4\n0.0\n289.1\n0.0\n442.4\n166.5\n86.4\n124.2\n1108.6\nSep\n51.2\n183.1\n0.0\n0.0\n51.4\n0.0\n285.7\n0.0\n452.1\n173.8\n95.6\n123.8\n1131.0\nOct\n37.1\n199.8\n0.0\n0.0\n51.7\n0.0\n288.6\n0.0\n483.1\n179.7\n102.2\n124.0\n1177.6\nNov\n53.2\n217.5\n0.0\n0.0\n32.8\n0.0\n303.5\n0.0\n512.4\n169.3\n109.0\n123.5\n1217.6\n Dec\n0.1\n47.0\n224.9\n0.0\n0.2\n52.6\n0.0\n324.8\n0.0\n512.9\n169.0\n102.9\n125.3\n1234.9\n2015\nJan\n0.1\n37.3\n196.0\n0.0\n0.1\n51.8\n0.0\n307.1\n0.0\n511.6\n172.1\n105.8\n126.1\n1222.6\nFeb\n0.1\n32.1\n244.4\n0.0\n0.1\n51.9\n0.0\n328.6\n0.0\n522.9\n176.2\n106.8\n125.8\n1260.2\nMar\n0.1\n52.4\n214.4\n0.0\n0.1\n52.0\n0.0\n319.0\n0.0\n508.7\n180.0\n122.5\n125.5\n1255.5\nApr\n0.1\n32.5\n243.2\n0.0\n0.1\n60.4\n0.0\n336.3\n0.0\n520.2\n182.5\n118.3\n124.8\n1282.0\nMay\n0.1\n33.6\n257.7\n0.0\n0.1\n60.1\n0.0\n351.5\n0.0\n448.7\n235.1\n137.5\n125.2\n1298.0\nLiquid Assets\nSecurities\nTABLE 9.1 : BUILDING SOCIETIES - ASSETS\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n26 \n \n \nOf which\nCapital\nOther\nTotal\nLiabilities to the \nand\nLiabilities\nPublic\nEnd of\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nOther Banks\nReserves\n2013\nMay\n315.3\n212.0\n527.4\n26.6\n49.4\n193.3\n23.6\n820.2\n527.4\nJun\n309.0\n222.6\n531.6\n0.0\n0.0\n198.3\n100.4\n830.3\n531.6\nJul\n339.1\n222.8\n561.9\n21.7\n50.2\n202.0\n23.5\n859.2\n561.9\nAug\n298.4\n270.1\n568.4\n0.0\n0.0\n206.3\n95.8\n873.1\n568.4\nSep\n336.1\n246.9\n583.0\n20.8\n77.8\n209.2\n23.4\n914.1\n583.0\nOct\n310.9\n264.9\n575.8\n21.0\n74.4\n212.0\n24.0\n907.2\n575.8\nNov\n328.9\n244.3\n573.1\n21.0\n72.3\n214.8\n25.4\n906.7\n573.1\nDec\n370.3\n197.3\n567.6\n30.8\n75.8\n219.5\n27.3\n921.0\n567.6\n2014\nJan\n313.9\n253.1\n567.0\n26.1\n80.6\n225.9\n29.5\n929.1\n567.0\nFeb\n318.7\n264.4\n583.1\n25.1\n81.3\n228.6\n25.8\n943.9\n583.1\nMar\n374.6\n234.6\n609.2\n24.7\n79.6\n231.4\n25.2\n970.1\n609.2\nApr\n358.4\n262.7\n621.1\n24.9\n76.5\n234.0\n25.4\n981.9\n621.1\nMay\n436.2\n233.2\n669.4\n24.7\n77.3\n238.0\n17.1\n1026.7\n669.4\nJun\n440.1\n212.2\n652.3\n34.8\n78.9\n243.1\n17.3\n1026.3\n652.3\nJul\n362.4\n302.9\n665.3\n30.1\n104.3\n244.2\n17.5\n1061.3\n665.3\nAug\n358.8\n336.8\n695.5\n35.7\n105.7\n250.6\n21.2\n1108.7\n695.5\nSep\n394.8\n297.6\n692.4\n54.2\n106.9\n253.5\n23.9\n1131.0\n692.4\nOct\n364.5\n368.0\n732.5\n54.2\n105.3\n258.5\n27.3\n1177.7\n732.5\nNov\n376.9\n392.0\n768.9\n54.6\n104.4\n262.9\n27.2\n1217.8\n768.9\nDec\n400.9\n387.5\n788.4\n54.2\n102.0\n262.7\n27.6\n1234.9\n788.4\n2015\nJan\n373.0\n397.1\n770.2\n54.6\n99.1\n267.8\n31.0\n1222.6\n770.2\nFeb\n405.8\n400.3\n806.2\n53.6\n98.3\n272.9\n29.2\n1260.2\n806.2\nMar\n408.1\n386.3\n794.4\n50.8\n108.8\n275.8\n25.8\n1255.5\n794.4\nApr\n464.1\n364.8\n828.9\n48.3\n99.4\n276.8\n28.7\n1282.0\n828.9\nMay\n472.0\n391.6\n863.6\n48.5\n87.4\n270.7\n27.8\n1298.0\n863.6\nDeposits\nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES\nUS$ Millions \nAmounts Owing to\n \n \nMONTHLY ECONOMIC REVIEW \n27 \n \n \n \n \n \n \nMarket Capitalisation\nIndustrial\nMining\nMarket Turnover(US$) Volume of Shares\nUS$ Millions\n2014\nJan\n189.25\n35.4\n63,972,387.0\n170,104,078\n4,882.1\nFeb\n189.45\n39.24\n25,811,746.9\n135,455,029\n4,906.9\nMar\n176.32\n29.51\n28,884,400.2\n381,649,234\n4,560.3\nApr\n172.91\n29.64\n51,346,054.5\n429,085,166\n4,473.5\nMay\n174.89\n35.45\n35,903,574.8\n235,704,129\n4,485.1\nJun\n186.57\n61.32\n28,544,304.7\n178,469,676\n4,873.4\nJuly\n188.07\n95.00\n25,224,550.4\n322,407,141\n4,959.2\nAug\n196.43\n104.8\n66,399,632.9\n328,161,452\n5,186.6\nSep\n195.25\n92.75\n34,056,010.7\n210,942,393\n5,140.2\nOct\n177.88\n70.38\n28,256,642.5\n156,444,539\n4,664.8\nNov\n171.45\n64.39\n34,765,242.8\n155,854,066\n4,517.9\nDec\n162.79\n71.71\n29,701,204.8\n475,024,051\n4,327.0\n2015\nJan\n164.9\n58.13\n16,062,740.8\n57,390,451\n4,365.1\nFeb\n167.16\n55.38\n34,775,616.2\n119,324,114\n4,353.4\nMar\n158.22\n43.92\n18,903,881.0\n405,884,918\n4,117.1\nApr\n156.23\n42.93\n29,188,562.0\n563,833,853\n4,066.1\nMay\n152.96\n44.45\n23,280,422.2\n290,320,685\n3,978.1\nIndices\nTable 10: ZIMBABWE STOCK MARKET STATISTICS\n \n \nMONTHLY ECONOMIC REVIEW \n28 \n \n \nCommercial\nBuilding \nEnd of\nBanks\nP.O.S.B.\nSocieties\nTOTAL\n2014\nMay\n1,427.5\n77.5\n669.4\n2,209.0\nJun\n1,495.8\n81.3\n652.3\n2,262.6\nJul\n1,499.5\n84.2\n665.3\n2,282.7\nAug\n1,502.9\n84.0\n695.5\n2,322.9\nSep\n1,573.8\n88.6\n692.4\n2,388.8\nOct\n1,525.0\n87.5\n732.5\n2,378.7\nNov\n1,469.9\n89.8\n768.9\n2,361.8\nDec\n1,473.1\n84.8\n788.4\n2,377.5\n2015\nJan\n1,557.9\n86.3\n770.2\n2,455.2\nFeb\n1,487.7\n90.4\n806.2\n2,384.2\nMar\n1,453.7\n93.6\n794.4\n2,353.9\nApr\n1,573.3\n90.4\n828.9\n2,492.6\nMay\n1,630.6\n89.2\n863.6\n2,583.4\n1/ Comprises all deposits other than demand deposits.\nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n29 \n \n \n \nLiquid\nPrescribed\nExcess\nLiquid\nPrescribed\nExcess\nassets\nliquid\nliquid\nassets\nliquid\nLiquid\nEnd of\nheld\nassets/1\nassets\nheld\nassets/1\nassets\n2014\nMay\n1,700.6\n1,116.7\n583.9\n1.9\n23.2\n-21.3\nJun\n1,716.1\n1,123.4\n592.7\n1.2\n22.8\n-21.6\nJul\n1,553.7\n1,089.0\n464.7\n0.9\n22.9\n-22.0\nAug\n1,618.6\n1,111.6\n507.0\n1.3\n23.0\n-21.7\nSep\n1,664.2\n1,129.4\n534.7\n1.1\n22.5\n-21.3\nOct\n1,644.7\n1,135.7\n508.9\n1.7\n22.1\n-20.3\nNov\n1,602.2\n1,110.5\n491.7\n1.0\n21.8\n-20.8\nDec\n1,571.0\n1,107.9\n463.1\n1.7\n20.4\n-18.7\n2015\nJan\n1,581.9\n1,084.2\n497.7\n2.0\n24.0\n-22.0\nFeb\n1,524.2\n1,070.2\n454.0\n2.5\n23.6\n-21.2\nMar\n1,543.8\n1,077.9\n465.9\n2.1\n24.2\n-22.1\nApr\n1,528.6\n1,101.6\n427.0\n0.6\n19.2\n-18.6\nMay\n1,779.2\n1,128.7\n650.4\n0.6\n19.2\n-18.5\n1/ With effect from 1 August 2011, the prescribed liquid asset ratio was reviewed to 25% of liabilities to the public, from 20%. \nUS$ Millions\nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \nCommercial Banks\n Accepting Houses\n \n \nMONTHLY ECONOMIC REVIEW \n30 \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2014\nJan\n3093.01\n5.24\n102.26\n233.1\n228.25\n68.31\nFeb\n2954.93\n10.73\n96.27\n193.9\n217.14\n64.42\nMar\n3332.79\n10.4\n103.58\n232.94\n255.32\n87.94\nApr\n3439.33\n9.66\n126.26\n253.16\n264.38\n96.29\nMay\n3915.31\n13.65\n117.11\n181.35\n146.64\n121.98\nJun\n3657.44\n12.42\n110.38\n250.87\n284.18\n104.28\nJul\n3955.45\n11.72\n125.81\n267\n312.35\n101.75\nAug\n3467.34\n9.36\n135.9\n273.39\n320.36\n103.26\nSep\n4037.98\n11.16\n138.09\n280.8\n341.23\n115.94\nOct\n3843.84\n13.58\n150.09\n291.68\n362.30\n117.40\nNov\n4104.33\n9.33\n160.40\n299.94\n358.76\n103.76\nDec\n4615.04\n11.53\n148.5\n336.65\n395.93\n124.33\nAnnual Total\n44416.79\n128.78\n1514.646\n3094.779\n3486.839\n1209.657\n2015\nJan\n3659.00\n11.81\n154.43\n311.94\n352.18\n113.46\nFeb\n3221.13\n13.69\n141.79\n275.8\n334.62\n104.62\nMar\n3801.96\n11.11\n131.97\n298.30\n364.69\n111.70\nApr\n3919.47\n10.81\n133.99\n299.67\n341.22\n112.38\nMay\n3467.1\n13.08\n128.76\n316.66\n389.97\n124.5\nTABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY\nValues of Transactions (US$ millions)\n \n \nMONTHLY ECONOMIC REVIEW \n31 \n \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2014\nJan\n182.48\n29.41\n973.79\n815.89\n11141.19\n24.19\nFeb\n175.09\n32.95\n991.91\n799.12\n10631.6\n25.1\nMar\n192.02\n32.35\n1163.76\n947.64\n12859.5\n30.82\nApr\n183.63\n28.12\n1184.85\n974.37\n13298.04\n29.23\nMay\n215.2\n37.09\n954.18\n793.43\n12146.9\n38.68\nJun\n193.58\n32.98\n1164.73\n966.45\n14163.56\n34.25\nJul\n199.59\n34.34\n1272.91\n1038.44\n15370.63\n37.68\nAug\n170.86\n27.25\n1300.35\n1122.41\n16268.07\n33.84\nSep\n197.88\n30.39\n1158.84\n1057.48\n15991.79\n39.35\nOct\n200.32\n34.58\n1193.38\n1086.16\n17527.40\n40.96\nNov\n171.45\n27.66\n1143.69\n1077.30\n17876.31\n42.01\nDec\n189.83\n27.49\n1161.59\n1162.71\n19347.91\n40.49\nAnnual Total\n2271.926\n374.61\n13663.98\n11841.396\n176622.897\n416.599\n2015\nJan\n170.77\n29.55\n1174.09\n1124.49\n16903.26\n37.60\nFeb\n172.25\n32.23\n1140.94\n1027.88\n16160.42\n39.94\nMar\n191.64\n30.33\n1183.64\n1110.17\n18211.89\n44.48\nApr\n180.34\n26.98\n1151.25\n1107.52\n17269.69\n43.55\nMay\n179.76\n27.38\n1052.50\n1123.77\n18684.62\n43.22\nTABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY\nVolumes of Transactions (in thousands)\n \n \n32 \n \nMONTHLY ECONOMIC REVIEW", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/May2015.pdf"}

dedup/cb_requests/030021d24551283533f0dbe451fc6f7b.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/Monthly_Economic_Reviews/Monthly-Economic-Review-April-2021.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "Monthly-Economic-Review-April-2021.pdf", "subfolder": "SARB\\Monthly_Economic_Reviews", "token_count": 14079}

dedup/cb_requests/033f95601efaa5a711ac178b4df54962.json

@@ -0,0 +1 @@
+{"url": "file:///CBN/MPC_Communiques/communique for jan  30-31 2012 mpc meeting with personal statements of 12 mpc members.pdf", "source": "CBN", "fetch_date": "2026-05-11", "filename": "communique for jan  30-31 2012 mpc meeting with personal statements of 12 mpc members.pdf", "subfolder": "CBN\\MPC_Communiques", "token_count": 9996}

dedup/cb_requests/0363f801761085d2fe9e85ab1940b6bb.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/MPC_Statements/July2016.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "July2016.pdf", "subfolder": "SARB\\MPC_Statements", "token_count": 8069}

dedup/cb_requests/0505ef4cb351c7933e11864820e3dc0c.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/MPC_Statements/November2016.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "November2016.pdf", "subfolder": "SARB\\MPC_Statements", "token_count": 8677}

dedup/cb_requests/0531bf11619e5507c832236108651910.json

@@ -0,0 +1 @@
+{"doc_id": "0531bf11619e5507c832236108651910", "text": "[Date] \n \n \n \n \nMARCH 2016 \n \n \ni \n \nMONTHLY ECONOMIC REVIEW \nTABLE OF CONTENTS \nSELECTED ECONOMIC INDICATORS _____________________________ 1 \nSTOCK MARKET DEVELOPMENTS _______________________________ 2 \nMONETARY DEVELOPMENTS ___________________________________ 3 \nINFLATION OUTTURN ___________________________________________ 4 \nAnnual Inflation _________________________________________________ 4 \nMonthly Inflation ________________________________________________ 5 \nNATIONAL PAYMENTS SYSTEM _________________________________ 5 \nZimbabwe Electronic Transfer Settlement System (ZETSS) _____________ 5 \nMobile and Internet Based Transactions _____________________________ 5 \nCard Based Transactions _________________________________________ 5 \nCheque Transactions _____________________________________________ 5 \n \n \n \n \n \n \n1 \n \nMONTHLY ECONOMIC REVIEW \n \n \n \n2016 \nFebruary \n2016 \nMarch \nMonth-on- \nMonth \nChange \nZ.S.E. Mining Index1 \n19.1 \n19.4 \n1.1% \nZ.S.E. Industrial Index1 \n99.5 \n97.6 \n-1.9% \nMoney Supply (US$)2 \n4 768.9 million \n4 916.8 million \n3.1% \nMoney Supply (M3) Annual Growth2 \n9.94% \n12.50% \n \nYearly Inflation3 \n-2.22% \n-2.31% \n \nMonthly Inflation3 \n-0.10% \n-0.12% \n \nNominal Lending Rate \n4.0-22.0% \n4.0-22.0% \n \nSources: \n1 Zimbabwe Stock Exchange (ZSE) \n2 Reserve Bank of Zimbabwe (RBZ) \n3 Zimbabwe National Statistics Agency (ZIMSTAT) \nSELECTED ECONOMIC INDICATORS \n \n \nMONTHLY ECONOMIC REVIEW \n2 \n \nSTOCK MARKET DEVELOPMENTS \nStock markets in the USA, Japan, China, United \nKingdom, Germany, and France registered gains \nin March 2016. Concomitantly, major African \nstock markets realised gains as follows: Egypt, \n25.6%; South Africa, 5.6%; Kenya, 4.7%; and \nNigeria, 4.4%. \nTrading on the Zimbabwe Stock Exchange (ZSE) \nwas, however, mixed. The industrial index \nrecorded a 1.9 % loss to close at 97.61 in March \n2016. The resources index increased from 19.14 \npoints in February 2016, to 19.35 points during \nthe month under analysis. \n \n \n \n \nThe total volume of shares traded increased to \n97.6 million in March 2016, from 91.2 million \nshares in February 2016. Market turnover, \nhowever, decreased to US$16.4 million in March \n2016, from US$57.1 million in February 2016. \n \nSource: Zimbabwe Stock Exchange, 2016 \nThe ZSE market capitalisation declined by 1.9% \nto US$2 645.1 million in March 2016. The \ndecline was underpinned by loses in the \nmainstream index. \n \n \n0\n50\n100\n150\n200\n250\n31-Mar-14\n31-May-14\n31-Jul-14\n30-Sep-14\n30-Nov-14\n31-Jan-15\n31-Mar-15\n31-May-15\n31-Jul-15\n30-Sep-15\n30-Nov-15\n31-Jan-16\n31-Mar-16\nFigure 1: ZSE Indices\nIndustrial\nMining\n0.00\n1.00\n2.00\n3.00\n4.00\n5.00\n6.00\n7.00\n8.00\n0.00\n2.00\n4.00\n6.00\n8.00\n10.00\n12.00\n14.00\n16.00\n03-Jan-16\n11-Jan-16\n19-Jan-16\n27-Jan-16\n04-Feb-16\n12-Feb-16\n20-Feb-16\n28-Feb-16\n07-Mar-16\n15-Mar-16\n23-Mar-16\n31-Mar-16\nVALUES TRADED (US$ MILLIONS)\nVOLUMES TRADED (MILLIONS)\nFigure 2: ZSE: Daily Volumes and \nFigure 2: ZSE: Daily Volumes and Values Traded\nValues Traded\nVolume\nTurnover\nSource: Zimbabwe Stock Exchange, 2016 \n \n \nMONTHLY ECONOMIC REVIEW \n3 \n \nMONETARY DEVELOPMENTS \n \nThe annual money supply growth rate increased \nfrom 9.94% in February 2016 to 12.5% in March \n2016. On a monthly basis, broad money supply \nrose by 3.1% to US$4 916.8 million in March \n2016. \n \nSource: Reserve Bank of Zimbabwe, 2016 \nThe annual growth in broad money was largely \non account of increases in savings, 22.6% \ndemand, 21.3%; and long term deposits, 18.3%. \nShort term deposits, however, decreased by \n24.1% during the period under review. \nThe distribution of deposit classes to total \ndeposits was as follows: demand, 52.4%; long \nterm, 21.4%; short term, 12.5%; and savings \ndeposits, 13.8%. \n \n \n \n \n \n \n \nAnnual growth in total banking sector credit \nstood at 23.5% in March 2016, down from 26.2% \nin February 2016. Month-on-month, banking \nsector credit increased to US$5 542.9 million in \nMarch 2016, from US$5 490 million in February \n2016. \nOn an annual basis growth in credit to the private \nsector was -2.4% in March 2016, down from \n1.8% in February 2016. Similarly, monthly credit \nto \nthe \nprivate \nsector \ndecreased \nto \nUS$3 672.2 million in March 2016, from \nUS$3 697.6 million in February 2016. \nIn terms of proportions, bank credit to the private \nsector was distributed as follows: loans and \nadvances, 85.3%; Mortgages, 9.2%; other \ninvestments, 4.2%; Bills Discounted, 1.0% and \nBankers’ Acceptances, 0.3%. \n-2\n0\n2\n4\n6\n8\n10\n12\n14\n16\n18\n -\n 1.0\n 2.0\n 3.0\n 4.0\n 5.0\n 6.0\nJun-13\nSep-13\nDec-13\nMar-14\nJun-14\nSep-14\nDec-14\nMar-15\nJun-15\nSep-15\nDec-15\nMar-16\n%\nUS$ BILLIONS\nFigure 3: Money Supply\nFigure 3: Money Supply\nM3\nM3 Annual Growth\nShort Term\n12.5%\nLong Term \n21.4%\nDemand\n52.4%\nsavings\n13.8%Figure 4: Bank\nFigure 4: Banking Sector DepositsMarch 2016\nMarch 2016\nSource: Reserve Bank of Zimbabwe, 2016 \n \n \nMONTHLY ECONOMIC REVIEW \n4 \n \n \nSource: Reserve Bank of Zimbabwe, 2016 \nDuring the period under review, private sector \ncredit was distributed as follows: agriculture \n(21.4%); households (21.3%); manufacturing \n(16.2%); services (14.6%); mining (5.7%); \nfinancial organisations and investments (2.8%); \ntransport and communications (3.1%); and \nconstruction (1.4%). \nThe utilisation of private sector credit in terms of \nproportions was as follows: inventory build-up, \n34.9%; asset purchases, 34.8%; consumer \ndurables, 14.5%; capital investment, 9.1% and \nvehicle purchases, 3.3%. \n \nINFLATION OUTTURN \n \nAnnual Inflation \n \nAnnual headline inflation decelerated for the \nsecond consecutive month, from -2.22% in \nFebruary 2016 to -2.31% in March 2016, on \naccount of decreases in both food and non-food \ninflation. \n \nSource: ZIMSTAT, 2016 \nYear-on-year food inflation was also in negative \nterritory at -4.13% in March 2016. Annual food \ninflation continued to be weighed down by \ndeclines in the prices of meat; bread and cereals; \nmilk, cheese and eggs; oils and fats; and \nvegetables, among others. \nAnnual non-food stood at -1.43% in March 2016, \ndown from -1.35% registered in February 2016. \nThis was largely attributable to declines in \nhousing, water, electricity, gas and other fuels; \nfurniture and household equipment; transport; \nand clothing and footwear. \nLoans & Advances\n85.3%\nBills Discounted\n1.0%\nBankers \nacceptances\n0.3%\nOther \ninvestments\n4.2%\nMortgages\n9.2%Figure 5: Credit to Private Sector\nFigure 5: Credit to Private SectorMarch 2016\nMarch 2016\n-5\n-4\n-3\n-2\n-1\n0\n1\n2\nFigure 6: Annual Inflation \n(%)\nHeadline Inflation\nFood\nNon Food\n \n \nMONTHLY ECONOMIC REVIEW \n5 \n \nMonthly Inflation \n \nThe month-on-month inflation rate eased by \n0.02 percentage points to close at -0.12% in \nMarch \n2016. \nThis \nwas \nunderpinned \nby \nsignificant declines in the prices of both food and \nnon-food items. \nMonthly food inflation declined from -0.03% in \nFebruary 2016 to -0.13% in March 2016. \nAccounting for the decline were decreases in \nprices of meat; fish and sea foods and milk, \ncheese, and eggs, among others. Bread and cereal \nprices, however, increased during the same \nperiod. \nMonth-on-month, non-food inflation remained in \nthe negative at -0.11% in March 2016, despite \ngaining 0.03 percentage points on the -0.14% \nrecorded for February 2016. The gain was \nlargely on account of a 3.4% increase in \neducation inflation. \nNATIONAL PAYMENTS SYSTEM \n \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \n \nThe value of transactions processed through the \nRTGS system rose from US$3.45 billion in \nFebruary 2016 to US$3.46 billion in March 2016. \nDuring the same period, the volume of RTGS \ntransactions increased by 2.7%, from 148 416 to \n152 465. \nSource: Reserve Bank of Zimbabwe, 2016 \n \nMobile and Internet Based Transactions \n \nThe total value of mobile and internet based \ntransactions rose to US$673.1 million in March \n2016, from US$557.19 million in February 2016. \n \nCard Based Transactions \n \nCard \nbased \ntransactions \ndeclined \nto \nUS$430.9 million in March 2016, from \nUS$450.9 million recorded in February 2016. \n \nCheque Transactions \n \nThe value of cheque transactions decreased from \nUS$11.9 \nmillion \nin \nFebruary \n2016, \nto \nUS$11.3 million in March 2016. \n \nRESERVE BANK OF ZIMBABWE \nMAY 2016\n -\n 0.5\n 1.0\n 1.5\n 2.0\n 2.5\n 3.0\n 3.5\n 4.0\n 4.5\n 5.0\nMar-13\nJul-13\nNov-13\nMar-14\nJul-14\nNov-14\nMar-15\nJul-15\nNov-15\nMar-16\n -\n 50\n 100\n 150\n 200\n 250\nVALUE IN US$ BILLIONS\nVOLUME IN THOUSANDS\nFigure 7: Z\nFigure 7: ZETSS Volumes and Values\nValues\nVolume\nValue\n \n \n6 \n \nMONTHLY ECONOMIC REVIEW \nStatistical Tables \n \n \n1. Monetary Statistics \n \n1.1 Monetary Aggregates \n \n \n \n \n \n 8 \n \n1.2 Broad Money Survey \n \n \n \n \n \n 9 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n10 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n11 \n \n 2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 12 \n \n2.2 Sectoral Analysis of Commercial Banks Deposits \n \n13 \n \n \n \n3. External Statistics \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n14 \n \n4. Interest Rates \n \n4.1 Lending Rates \n \n \n \n \n \n \n15 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n16 \n \n5. Inflation \n \n5.1 Monthly Inflation \n \n \n \n \n \n17 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n18 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n19 \n \n7. Commercial Banks \n \n7.1 Assets \n \n \n \n \n \n \n \n20 \n \n7.2 Liabilities \n \n \n \n \n \n \n21 \n \n \nMONTHLY ECONOMIC REVIEW \n7 \n \n \n8. Merchant Banks \n \n8.1 Assets \n \n \n \n \n \n \n \n22 \n \n8.2 Liabilities \n \n \n \n \n \n \n23 \n \n 9. Building Societies \n \n9.1 Assets \n \n \n \n \n \n \n \n24 \n \n9.2 Liabilities \n \n \n \n \n \n \n25 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n26 \n \n11. Savings with Financial Institutions \n \n \n \n \n27 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n28 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n \n \n13.1 Values of Transactions \n \n \n \n \n29 \n \n13.2 Volumes of Transactions \n \n \n \n \n30 \n \n \n \n \n \n \n \n \n8 \n \nMONTHLY ECONOMIC REVIEW \n \n \n \n \n \n \n \nMarch\nApril\nMay\nJune\nJuly\nAugust\nSeptember\nOctober\nNovember\nDecember\nJanuary\nFebruary\nMarch\nBond Coins\n1,294.0\n1,749.3\n2,316.7\n2,684.1\n2,719.3\n3,016.3\n3,425.5\n4,445.3\n5,789.3\n7,127.0\n7,355.5\n7457.27\n7612.10\nRBZ Demand Deposits\n545.0\n491.6\n340.2\n4,035.0\n3,889.6\n3,480.3\n3,478.9\n3,485.7\n2,470.9\n726.0\n1832.79\n2086.40\n1423.30\nComm. Banks Dem. Deposits\n2,051,081.7\n1,990,235.2\n2,017,918.3\n2,112,470.2\n2,023,527.6\n2,168,409.0\n2,166,471.3\n2,149,026.8\n2,358,226.5\n2,362,538.7\n2430098.04\n2409398.21\n2510951.12\nMerchant Banks Dem. Deposits\n68,611.1\n63,935.0\n63,899.2\n62,949.9\n62,949.9\n62,949.9\n62,157.8\n61,925.6\n58,750.3\n58,524.4\n58511.73\n58304.47\n58314.95\nM1\n2,121,531.8\n2,056,411.0\n2,084,474.4\n2,182,139.2\n2,093,086.3\n2,237,855.5\n2,235,533.5\n2,218,883.4\n2,425,237.0\n2,428,916.0\n2,497,798.0\n2,477,246.4\n2,578,301.4\nComm. Banks Savings Deposits\n230,198.0\n267,921.4\n275,167.8\n248,074.6\n239,113.1\n227,534.6\n230,176.6\n231,465.3\n259,856.4\n266166.63\n280598.53\n291567.7\n290006.1\nBuilding Soc. Savings Deposits\n244,746.0\n256,526.3\n280,947.9\n279,625.3\n275,914.5\n277,271.4\n230,176.6\n294,208.3\n308,439.9\n296041.79\n297854.81\n305980.4\n311092.0\nP O S B Savings Deposits\n75,993.4\n74,678.1\n71,195.6\n73,397.6\n68,785.7\n71,554.2\n77,161.5\n73,380.5\n76,307.7\n72505.78\n73735.74\n73847.9\n74405.9\nComm. Banks U-30 Day Deposits\n645,401.5\n607,334.3\n670,242.5\n707,686.1\n587,421.2\n505,981.9\n613,287.8\n565,136.6\n565,317.5\n650234.31\n597527.61\n588796.4\n506719.1\nMerchant Banks U-30 Day Deposits\n12,132.4\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.00\n0.00\n0.0\n0.0\nBuilding Soc. U- 30 Day Deposits\n152,280.6\n189,428.7\n175,953.7\n188,805.2\n171,250.8\n156,077.5\n190,548.2\n144,911.8\n127,578.2\n165352.52\n131683.21\n123683.2\n108106.2\nM2\n3,482,283.7\n3,452,299.9\n3,557,981.9\n3,679,728.0\n3,435,571.6\n3,476,275.0\n3,576,884.3\n3,527,985.9\n3,762,736.7\n3,879,217.1\n3,879,197.9\n3,861,122.0\n3,868,630.7\nComm. Banks O-30 Day Deposits\n503,769.1\n618,804.9\n536,216.7\n509,642.0\n651,895.8\n622,991.6\n611,608.0\n628,213.7\n503,244.7\n420265.08\n424676.94\n449879.1\n573809.8\nMerchant Banks O-30 Day Deposits\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.00\n0.0\n0.0\nBuilding Soc. O- 30 Day Deposits\n355,362.1\n340,739.4\n364,490.5\n326,111.5\n351,579.9\n340,974.7\n303,177.5\n409,350.0\n444,267.1\n432822.35\n413975.79\n421729.2\n438461.8\nBuilding Soc. Other Share Deposits\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11266.60\n11266.60\n11266.6\n11266.6\nP O S B Time Deposits\n17,638.5\n15,733.8\n18,011.8\n17,261.6\n23,646.5\n21,540.3\n24,019.0\n24,010.2\n23,668.6\n21851.26\n25326.55\n24881.2\n24640.9\nM3\n4,370,320.0\n4,438,844.6\n4,487,967.5\n4,544,009.7\n4,473,960.3\n4,473,048.2\n4,526,955.4\n4,600,826.4\n4,745,183.7\n4,765,422.3\n4,754,443.8\n4,768,878.1\n4,916,809.8\nSoure:Reserve Bank of Zimbabwe, 2016\n2015\n2016\nTABLE 1.1 : MONETARY AGGREGATES\n US$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n9 \n \n \nMAR\nAPR\nMAY\nJUNE\nJULY\nAUGUST\nSEPT\nOCT\nNOV\nDEC\nJAN\nFEB\nMAR\nNET FOREIGN ASSETS \n-565,959.3\n-636,028.1\n-681,066.5\n-775,512.6\n-723,772.8\n-727,785.7\n-715,689.4\n-822,417.2\n-771,548.0\n-667,684.9\n-688,591.4\n-780,139.7\n-728,823.7\n Assets\n816,079.6\n755,493.4\n811,200.4\n926,353.7\n843,689.2\n867,447.1\n889,018.6\n784,372.6\n667,350.7\n792,677.3\n758,634.6\n679,001.9\n687,149.8\n Reserve Bank (RBZ)\n282,170.1\n282,900.6\n303,218.6\n453,986.1\n395,771.0\n360,705.6\n360,255.9\n335,321.7\n300,180.5\n433,452.9\n424,269.1\n390,810.3\n334,552.7\n Deposit Money Banks (DMBs) \n469,563.3\n424,368.1\n418,721.9\n390,608.3\n361,517.6\n428,702.8\n448,219.8\n387,305.0\n310,522.6\n300,320.1\n302,773.5\n259,017.9\n318,832.0\n Other Banking Institutions (OBIs) \n64,346.2\n48,224.7\n89,260.0\n81,759.3\n86,400.6\n78,038.7\n80,542.9\n61,745.9\n56,647.6\n58,904.3\n31,592.0\n29,173.7\n33,765.2\n Liabilities \\2\n-1,382,038.9\n-1,391,521.5\n-1,492,266.9\n-1,701,866.3\n-1,567,462.0\n-1,595,232.7\n-1,604,707.9\n-1,606,789.8\n-1,438,898.6\n-1,460,362.2\n-1,447,226.0\n-1,459,141.6\n-1,415,973.5\n RBZ\n858,095.4\n894,207.5\n868,931.4\n1,093,306.3\n1,039,959.7\n1,056,817.9\n1,057,080.8\n1,069,972.4\n1,048,664.8\n1,096,800.8\n1,090,485.7\n1,117,823.6\n1,075,644.5\n DMBs\n473,182.2\n448,998.0\n574,792.7\n560,305.8\n478,956.0\n490,791.1\n504,085.0\n494,458.0\n347,787.2\n320,578.9\n313,434.2\n299,029.1\n303,288.3\n OBIs\n50,761.3\n48,315.9\n48,542.8\n48,254.1\n48,546.3\n47,623.8\n43,542.1\n42,359.5\n42,446.6\n42,982.5\n43,306.1\n42,288.9\n37,040.8\nNET DOMESTIC ASSETS \n4,936,279.4\n5,074,872.7\n5,169,034.0\n5,319,522.4\n5,197,733.1\n5,200,833.8\n5,301,713.1\n5,423,243.6\n5,516,731.6\n5,433,107.3\n5,443,035.2\n5,549,017.8\n5,645,633.4\nDOMESTIC CREDIT\n4,371,027.6\n4,529,777.2\n4,817,875.2\n4,869,072.4\n4,981,511.5\n5,029,107.1\n5,079,842.4\n5,196,662.7\n5,345,272.0\n5,535,396.4\n5,476,442.4\n5,489,962.3\n5,542,678.3\n Claims on Government (net) \n537,675.3\n665,258.8\n950,594.0\n1,074,237.6\n1,160,044.8\n1,192,006.7\n1,182,354.0\n1,253,218.7\n1,359,827.4\n1,564,354.7\n1,530,792.2\n1,671,934.4\n1,691,128.7\n RBZ\n-22,274.1\n98,377.6\n97,847.8\n91,807.5\n243,082.9\n244,517.6\n254,297.8\n271,997.2\n314,096.4\n331,552.1\n355,230.5\n418,006.5\n446,003.9\n DMBs\n500,344.5\n498,836.6\n784,428.5\n904,112.3\n845,865.3\n860,228.9\n838,982.9\n890,154.0\n954,556.6\n1,119,720.1\n1,068,095.4\n1,153,295.1\n1,166,120.4\n OBIs\n59,604.9\n68,044.6\n68,317.8\n78,317.8\n71,096.6\n87,260.2\n89,073.3\n91,067.5\n91,174.4\n113,082.5\n107,466.4\n100,632.7\n79,004.4\n Claims on Public Enterprises \n71,543.2\n102,474.3\n104,306.3\n53,148.2\n48,641.8\n56,508.0\n54,523.7\n84,877.1\n83,806.0\n140,910.1\n145,507.6\n120,445.0\n179,370.7\n RBZ\n0.0\n737.3\n1,087.1\n1,189.1\n1,931.5\n2,098.7\n2,423.7\n30,362.6\n30,375.1\n79,569.5\n76,732.8\n54,168.2\n70,356.5\n DMBs\n69,816.8\n100,742.9\n102,436.0\n51,254.0\n46,510.3\n53,130.2\n50,787.7\n53,348.0\n52,504.5\n60,202.8\n67,848.4\n65,328.0\n108,062.4\n Agri-PEs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Other\n69,816.8\n100,742.9\n102,436.0\n51,254.0\n46,510.3\n53,130.2\n50,787.7\n53,348.0\n52,504.5\n60,202.8\n67,848.4\n65,328.0\n108,062.4\n OBIs\n1,726.4\n994.2\n783.2\n705.1\n200.0\n1,279.1\n1,312.2\n1,166.5\n926.4\n1,137.9\n926.4\n948.9\n951.8\n Claims on Private Sector\n3,761,809.1\n3,762,044.1\n3,762,974.9\n3,741,686.6\n3,772,824.9\n3,780,592.5\n3,842,964.7\n3,858,567.0\n3,901,638.6\n3,830,131.6\n3,800,142.6\n3,697,582.8\n3,672,178.9\n RBZ\n31,409.0\n31,558.0\n31,155.6\n51,689.8\n66,722.4\n92,768.9\n67,359.3\n75,959.6\n77,442.5\n90,549.5\n93,049.5\n74,614.5\n56,342.7\n DMBs\n2,960,892.4\n2,948,993.7\n2,960,917.8\n2,900,630.1\n2,910,157.5\n2,875,477.3\n2,956,930.6\n2,950,844.9\n2,981,759.1\n2,874,287.6\n2,860,825.0\n2,773,512.1\n2,774,147.9\n OBIs\n769,507.7\n781,492.4\n770,901.6\n789,366.8\n795,945.0\n812,346.3\n818,674.8\n831,762.5\n842,437.0\n865,294.5\n846,268.2\n849,456.3\n841,688.3\nOTHER ITEMS (NET) \n565,251.8\n545,095.4\n351,158.7\n450,450.0\n216,221.6\n171,726.7\n221,870.7\n226,580.9\n171,459.6\n-102,289.2\n-33,407.2\n59,055.5\n102,955.1\nBROAD MONEY (M3) \n4,370,320.1\n4,438,844.6\n4,487,967.5\n4,544,009.7\n4,473,960.3\n4,473,048.2\n4,586,023.7\n4,600,826.4\n4,745,183.7\n4,765,422.3\n4,754,443.8\n4,768,878.1\n4,916,809.8\n2015\nTABLE 1.2 : BROAD MONEY SURVEY\nUS$ Thousands\n2016\n \n \nMONTHLY ECONOMIC REVIEW \n10 \n \n \nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nFEBRUARY\nMARCH\nNET FOREIGN ASSETS \n197,347.2\n-70,068.7\n-45,038.4\n-94,446.1\n51,739.9\n-4,012.9\n12,096.3\n-106,727.8\n50,869.2\n103,863.0\n-20,906.5\n-91,548.3\n51,316.0\n Assets\n78,246.1\n-60,586.2\n55,707.0\n115,153.3\n-82,664.5\n23,757.8\n21,571.5\n-104,646.0\n-117,021.9\n125,326.6\n-34,042.7\n-79,632.7\n8,148.0\n Reserve Bank (RBZ)\n1,280.1\n730.6\n20,317.9\n150,767.5\n-58,215.1\n-35,065.4\n-449.7\n-24,934.2\n-35,141.2\n133,272.4\n-9,183.8\n-33,458.8\n-56,257.6\n Deposit Money Banks (DMBs)\n69,089.7\n-45,195.2\n-5,646.2\n-28,113.6\n-29,090.7\n67,185.1\n19,517.0\n-60,914.8\n-76,782.4\n-10,202.5\n2,453.4\n-43,755.6\n59,814.1\n Other Banking Institutions (OBIs) \\1\n7,876.2\n-16,121.6\n41,035.3\n-7,500.7\n4,641.3\n-8,361.9\n2,504.2\n-18,797.0\n-5,098.3\n2,256.7\n-27,312.3\n-2,418.3\n4,591.5\n Liabilities \\2\n119,101.1\n-9,482.6\n-100,745.5\n-209,599.4\n134,404.3\n-27,770.7\n-9,475.2\n-2,081.9\n167,891.2\n-21,463.6\n13,136.2\n-11,915.5\n43,168.1\n RBZ\n-151,066.4\n36,112.1\n-25,276.1\n224,375.0\n-53,346.7\n16,858.2\n262.9\n12,891.6\n-21,307.6\n48,136.0\n-6,315.1\n27,337.9\n-42,179.1\n DMBs\n34,825.7\n-24,184.2\n125,794.7\n-14,486.9\n-81,349.8\n11,835.0\n13,293.9\n-9,627.0\n-146,670.7\n-27,208.4\n-7,144.6\n-14,405.1\n4,259.2\n OBIs\n-2,860.4\n-2,445.4\n226.9\n-288.7\n292.2\n-922.5\n-4,081.6\n-1,182.7\n87.1\n535.9\n323.5\n-1,017.2\n-5,248.1\nNET DOMESTIC ASSETS \\3\n-164,914.1\n138,593.3\n94,161.3\n150,488.4\n-121,789.3\n3,100.7\n100,879.2\n121,530.5\n93,488.0\n-83,624.4\n9,928.0\n105,982.5\n96,615.7\nDOMESTIC CREDIT\n121,975.3\n158,749.6\n288,098.0\n51,197.2\n112,439.1\n47,595.6\n50,735.3\n116,820.4\n148,609.3\n190,124.4\n-58,954.0\n13,519.9\n52,716.0\n Claims on Government (net) \n-11,503.9\n127,583.5\n285,335.2\n123,643.6\n85,807.2\n31,961.9\n-9,652.6\n70,864.7\n106,608.7\n204,527.3\n-33,562.5\n141,142.2\n19,194.3\n RBZ\n-9,366.0\n120,651.7\n-529.8\n-6,040.3\n151,275.4\n1,434.7\n9,780.2\n17,699.4\n42,099.2\n17,455.7\n23,678.3\n62,776.1\n27,997.4\n DMBs\n-9,735.8\n-1,507.9\n285,591.8\n119,683.9\n-58,247.0\n14,363.6\n-21,245.9\n51,171.1\n64,402.6\n165,163.5\n-51,624.8\n85,199.8\n12,825.3\n OBIs\n7,597.9\n8,439.7\n273.1\n10,000.0\n-7,221.2\n16,163.6\n1,813.1\n1,994.2\n106.9\n21,908.1\n-5,616.0\n-6,833.7\n-21,628.3\n Claims on Public Enterprises \n2,598.9\n30,931.2\n1,832.0\n-51,158.1\n-4,506.4\n7,866.2\n-1,984.3\n30,353.4\n-1,071.0\n57,104.1\n4,597.4\n-25,062.5\n58,925.6\n RBZ\n0.0\n737.3\n349.8\n102.0\n742.4\n167.2\n325.0\n27,938.9\n12.5\n49,194.3\n-2,836.7\n-22,564.6\n16,188.3\n DMBs\n872.5\n30,926.1\n1,693.1\n-51,182.0\n-4,743.6\n6,619.9\n-2,342.5\n2,560.3\n-843.4\n7,698.3\n7,645.6\n-2,520.4\n42,734.4\n Agri-PEs\n-1,519.5\n-1,520.5\n-1,521.5\n-1,522.5\n-1,523.5\n-1,524.5\n-1,525.5\n-1,526.5\n-1,527.5\n-1,528.5\n-9,457.5\n-7,505.4\n-6,965.8\n Other\n2,392.0\n32,446.6\n3,214.7\n-49,659.5\n-3,220.1\n8,144.4\n-816.9\n4,086.8\n684.1\n9,226.8\n17,103.1\n4,985.0\n49,700.2\n OBIs\n1,726.4\n-732.2\n-211.0\n-78.1\n-505.2\n1,079.1\n33.1\n-145.7\n-240.1\n211.5\n-211.5\n22.5\n3.0\n Claims on Private Sector\n130,880.3\n234.9\n930.9\n-21,288.3\n31,138.3\n7,767.5\n62,372.2\n15,602.3\n43,071.6\n-71,507.0\n-29,989.0\n-102,559.8\n-25,403.9\n RBZ\n-3,316.3\n149.0\n-402.4\n20,534.2\n15,032.7\n26,046.5\n-25,409.6\n8,600.4\n1,482.9\n13,107.0\n2,500.0\n-18,435.0\n-18,271.7\n DMBs\n136,476.5\n-11,898.7\n11,924.1\n-60,287.7\n9,527.4\n-34,680.2\n81,453.3\n-6,085.7\n30,914.2\n-107,471.5\n-13,462.6\n-87,312.9\n635.8\n OBIs\n-2,280.0\n11,984.7\n-10,590.8\n18,465.2\n6,578.2\n16,401.3\n6,328.5\n13,087.7\n10,674.5\n22,857.6\n-19,026.4\n3,188.1\n-7,768.0\nOTHER ITEMS (NET) \n-286,889.4\n-20,156.4\n-193,936.7\n99,291.2\n-234,228.4\n-44,494.9\n50,144.0\n4,710.2\n-55,121.3\n-273,748.8\n68,882.0\n92,462.7\n43,899.6\nBROAD MONEY (M3) \n32,433.1\n68,524.5\n49,122.9\n56,042.3\n-70,049.4\n-912.2\n112,975.5\n14,802.7\n144,357.2\n20,238.7\n-10,978.5\n14,434.3\n147,931.7\n Broad Money (M3) \n0.7%\n1.57%\n1.11%\n1.2%\n-1.54%\n-0.02%\n2.53%\n0.32%\n3.14%\n0.43%\n-0.23%\n0.30%\n3.10%\n Domestic Credit \n2.9%\n3.63%\n6.36%\n1.1%\n2.31%\n0.96%\n1.01%\n2.30%\n2.86%\n3.56%\n-1.07%\n0.25%\n0.96%\n Claims on Private Sector\n3.6%\n0.01%\n0.02%\n-0.6%\n0.83%\n0.21%\n1.65%\n0.41%\n1.12%\n-1.83%\n-0.78%\n-2.70%\n-0.69%\nSource:Reserve Bank of Zimbabwe, 2016\n1. Finance houses, building societies and P. O. S. B.\n2. Sign reversal.\n3. Net Domestic Assets consist of domestic credit and other items net.\nTABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3)\n US$ Thousands\n2015\n2016\n \n \nMONTHLY ECONOMIC REVIEW \n11 \n \n \nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST SEPTEMBER OCTOBER NOVEMBERDECEMBER JANUARY FEBRUARY\nMARCH\nNET FOREIGN ASSETS \n250,879.1\n59,815.5\n-95,449.8\n-180,094.9\n-22,698.6\n-100,052.1\n-179,455.4\n-223,571.1\n-3,723.5\n51,716.5\n25,599.2\n-16,833.2\n-162,864.4\n Assets\n-205,308.8\n-308,111.1\n-379,009.3\n-200,283.4\n-183,460.8\n-212,180.1\n-216,884.3\n-214,670.1\n-160,163.5\n-103,502.5\n-72,324.8\n-58,831.6\n-128,929.8\n Reserve Bank (RBZ)\n-74,987.2\n-76,958.8\n-107,685.7\n79,429.5\n68,475.7\n-50,976.1\n-260,229.1\n-172,834.3\n-34,353.8\n70,271.8\n67,607.2\n109,920.3\n52,382.6\n Deposit Money Banks (DMBs)\n-115,561.0\n-204,196.9\n-282,081.0\n-294,731.2\n-262,175.5\n-175,757.2\n33,238.4\n-45,036.0\n-106,467.2\n-162,792.6\n-103,107.2\n-141,455.7\n-150,731.3\n Other Banking Institutions (OBIs) \\1\n-14,760.6\n-26,955.3\n10,757.3\n15,018.3\n10,239.0\n14,553.2\n10,106.4\n3,200.1\n-19,342.5\n-10,981.7\n-36,824.9\n-27,296.3\n-30,581.0\n Liabilities \\2\n456,187.9\n367,926.6\n283,559.6\n20,188.5\n160,762.2\n112,128.0\n37,428.9\n-8,901.0\n156,440.0\n155,218.9\n97,924.0\n41,998.4\n-33,934.6\n RBZ\n-294,509.5\n-261,255.8\n-283,804.9\n-48,600.0\n-96,131.8\n-60,845.6\n19,340.3\n34,361.2\n18,611.0\n75,864.3\n83,389.7\n108,661.8\n217,549.1\n DMBs\n-187,715.9\n-130,095.6\n-23,610.5\n14,958.5\n-83,111.7\n-63,177.9\n-46,073.7\n-13,602.2\n-162,923.9\n-219,844.2\n-170,029.2\n-139,327.3\n-169,893.9\n OBIs\n26,037.5\n23,424.8\n23,855.8\n13,453.0\n18,481.3\n11,895.4\n-10,695.4\n-11,858.0\n-12,127.1\n-11,239.0\n-11,284.5\n-11,332.9\n-13,720.6\nNET DOMESTIC ASSETS \\3\n25,501.8\n148,570.5\n257,686.8\n400,538.7\n272,589.1\n251,024.5\n376,976.5\n367,137.9\n333,441.6\n310,287.2\n388,719.3\n447,824.3\n709,354.1\nDOMESTIC CREDIT\n190,918.6\n379,639.8\n679,564.0\n695,004.5\n776,284.9\n794,638.6\n812,660.2\n865,327.7\n992,339.8\n1,156,742.8\n1,244,947.0\n1,240,909.9\n1,171,650.7\n Claims on Government (net) \n47,442.1\n188,341.5\n482,132.6\n575,620.5\n736,056.5\n754,533.2\n739,918.1\n782,714.1\n897,401.8\n1,048,718.3\n986,766.1\n1,122,755.2\n1,153,453.4\n RBZ\n-21,094.5\n99,556.4\n99,026.6\n92,986.5\n289,241.2\n270,492.4\n290,213.2\n286,430.3\n328,127.9\n356,615.8\n367,824.5\n430,914.6\n468,278.0\n DMBs\n49,095.3\n60,904.0\n354,951.8\n444,479.8\n415,882.2\n448,362.7\n412,213.7\n457,069.2\n511,078.6\n631,757.3\n563,398.7\n643,214.9\n665,775.9\n OBIs\n19,441.3\n27,881.1\n28,154.2\n38,154.2\n30,933.0\n35,678.2\n37,491.3\n39,214.6\n58,195.3\n60,345.2\n55,543.0\n48,625.8\n19,399.5\n Claims on Public Enterprises \n-7,984.8\n24,181.6\n25,922.7\n-20,025.0\n-28,752.0\n-13,816.8\n-17,867.0\n12,502.1\n17,145.1\n74,160.0\n80,539.8\n51,500.7\n107,827.5\n RBZ\n0.0\n737.3\n1,087.1\n1,189.1\n1,931.5\n2,098.7\n2,423.7\n30,362.6\n30,375.1\n79,569.5\n76,732.8\n54,168.2\n70,356.5\n DMBs\n-9,711.2\n22,450.1\n24,052.3\n-21,919.3\n-30,883.4\n-17,194.6\n-21,602.9\n-19,027.0\n-14,156.5\n-6,547.4\n2,880.7\n-3,616.3\n38,245.6\n Agri-PEs\n-6,896.5\n-6,898.8\n-6,908.9\n-1,516.3\n-1,511.0\n-1,514.5\n-1,515.5\n-1,515.5\n-1,516.5\n-1,517.5\n-1,518.5\n-1,519.5\n-1,520.5\n Other\n-2,814.7\n29,348.9\n30,961.2\n-20,403.0\n-29,372.5\n-15,680.0\n-20,087.4\n-17,511.5\n-12,639.9\n-5,029.8\n4,399.2\n-2,096.7\n39,766.1\n OBIs\n1,726.4\n994.2\n783.2\n705.1\n200.0\n1,279.1\n1,312.2\n1,166.5\n926.4\n1,137.9\n926.4\n948.9\n-774.5\n Claims on Private Sector\n151,461.2\n167,116.7\n171,508.7\n139,409.0\n68,980.4\n53,922.1\n90,609.0\n70,111.5\n77,793.0\n33,864.5\n177,641.0\n66,654.0\n-89,630.2\n RBZ\n-3,336.1\n-3,187.1\n-3,589.5\n16,964.5\n31,997.2\n58,043.6\n32,634.0\n41,234.4\n42,717.2\n55,824.2\n58,324.2\n39,889.2\n24,933.7\n DMBs\n-33,095.8\n-19,566.9\n4,881.3\n-55,223.4\n-103,031.0\n-141,232.5\n-64,459.1\n-65,906.0\n-55,036.1\n-135,814.0\n25,822.4\n-50,903.8\n-186,744.5\n OBIs\n187,893.1\n189,870.6\n170,216.9\n177,667.9\n140,014.2\n137,110.9\n122,434.1\n94,783.1\n90,111.8\n113,854.3\n93,494.4\n77,668.6\n72,180.6\nOTHER ITEMS (NET) \n-165,416.8\n-231,069.3\n-421,877.2\n-294,465.8\n-503,695.8\n-543,614.1\n-435,683.7\n-498,189.8\n-658,898.2\n-846,455.6\n-856,227.7\n-793,085.7\n-462,296.6\nBROAD MONEY (M3) \n276,380.8\n208,386.1\n162,237.0\n220,443.8\n249,890.4\n150,972.4\n197,521.1\n143,566.8\n329,718.1\n362,003.6\n414,318.5\n430,991.1\n546,489.7\nGROWTH RATES\n Broad Money (M3) \n6.8%\n4.9%\n3.8%\n5.1%\n5.9%\n3.5%\n4.5%\n3.2%\n7.5%\n8.2%\n9.5%\n9.9%\n12.5%\n Domestic Credit \n4.6%\n9.1%\n16.4%\n16.7%\n18.5%\n18.8%\n19.0%\n20.0%\n22.8%\n26.4%\n29.4%\n29.2%\n26.8%\n Claims on Private Sector\n4.2%\n4.6%\n4.8%\n3.9%\n1.9%\n1.4%\n2.4%\n1.9%\n2.0%\n0.9%\n4.9%\n1.8%\n-2.4%\nSource:Reserve Bank of Zimbabwe\n1. Finance houses, building societies and P. O. S. B.\n2. Sign reversal.\n3. Net Domestic Assets consist of domestic credit and other items net.\n$ Thousands\nTABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3)\n2016\n2015\n \n \nMONTHLY ECONOMIC REVIEW \n12 \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE\nCONSTRUCTION\nCOMMUNICATION\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATE\nTOTAL\nEND OF\n \n \n \nINVESTMENTS\nORGANISATIONS\n \n \n \n \n2015 \nJan\n541,656.5\n46,681.6\n39,906.8\n445,656.6\n21,454.5\n131,350.1\n466,896.6\n207,686.6\n452,817.5\n47,945.7\n557,066.9\n1,401.2\n2,960,820.4\nFeb\n538,722.0\n42,062.8\n47,395.1\n446,647.8\n21,790.0\n117,681.6\n461,237.6\n214,420.4\n463,884.6\n48,357.0\n544,838.5\n1,416.2\n2,948,453.6\nMar\n549,118.0\n42,010.1\n44,087.2\n448,278.7\n76,302.3\n110,180.3\n473,978.1\n203,327.9\n466,104.7\n48,938.0\n550,140.6\n1,339.6\n3,013,805.6\nApr\n556,457.4\n30,687.3\n44,546.9\n451,852.9\n65,696.1\n72,653.7\n457,797.1\n202,418.2\n518,353.6\n47,653.8\n551,662.8\n990.1\n3,000,770.0\nMay\n577,258.6\n31,400.7\n44,839.1\n456,652.1\n64,792.3\n75,682.2\n460,700.3\n192,377.2\n545,363.4\n50,061.9\n561,058.3\n1,034.4\n3,061,220.5\nJun\n576,485.1\n29,649.0\n56,936.5\n463,750.7\n20,117.9\n91,678.4\n407,949.0\n181,512.7\n512,108.4\n40,839.7\n590,917.1\n965.9\n2,972,910.2\nJul\n589,866.7\n27,447.9\n56,456.1\n474,568.7\n21,025.9\n92,335.6\n418,612.0\n186,238.8\n416,928.9\n41,201.6\n579,629.0\n941.4\n2,905,252.7\nAug\n580,775.3\n28,148.8\n58,618.6\n460,451.4\n22,509.2\n105,466.9\n411,831.6\n176,732.7\n440,470.4\n41,154.5\n571,926.0\n886.9\n2,898,972.1\nSep\n598,429.9\n28,307.9\n59,213.0\n443,604.1\n22,711.9\n102,015.0\n421,228.0\n174,144.2\n467,804.5\n43,051.0\n569,250.1\n929.5\n2,930,689.0\nOct\n609,537.2\n33,868.4\n53,813.7\n466,727.6\n21,566.0\n104,959.3\n447,136.6\n141,401.6\n484,254.8\n40,156.6\n573,330.4\n907.7\n2,977,660.0\nNov\n650,547.2\n28,696.7\n49,784.9\n440,864.2\n12,868.9\n104,288.1\n428,393.1\n152,136.9\n444,207.8\n40,760.5\n543,920.4\n696.2\n2,897,164.8\nDec\n590,610.6\n30,958.8\n44,706.5\n366,799.2\n13,354.6\n87,897.5\n450,208.5\n163,452.9\n475,424.5\n40,154.3\n518,998.3\n527.5\n2,783,093.0\n2016\nJan\n577,684.4\n35,033.6\n35,535.9\n379,618.2\n13,329.2\n68,325.8\n476,677.0\n158,150.5\n410,992.6\n40,295.6\n535,379.3\n380.2\n2,731,402.2\nFeb\n539,562.8\n35,885.1\n37,857.4\n374,835.1\n13,285.9\n63,301.8\n473,970.3\n155,889.4\n415,520.6\n40,862.5\n531,789.5\n365.3\n2,683,125.7\nMar\n586,349.7\n39,180.5\n41,037.5\n371,809.6\n13,397.9\n63,061.4\n444,769.1\n156,209.2\n402,900.5\n44,606.7\n588,882.7\n410.7\n2,752,615.5\nSource:Reserve Bank of Zimbabwe,2016\n/1 Including the only merchant bank still in operation.\nTABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1\nUS$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n13 \n \n \n \n \n \n \n \n \nEND OF\nAGRICULTURE CONSTRUCTION\nCOMMUNICATIONS\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPOR\nT\nINDIVIDUALS\nCONGLOMERATES\nTOTAL\nINVESTMENTS ORGANISATIONS\n2015\nJan\n155,304.2\n63,950.4\n136,066.9\n349,099.7\n294,145.5\n809,684.0\n314,319.6\n113,452.0\n1,034,514.7\n48,876.5\n606,370.3\n78,746.0\n4,004,529.8\nFeb\n151,740.1\n63,112.6\n109,807.6\n370,581.8\n314,944.7\n784,737.6\n309,307.9\n120,255.1\n1,028,160.1\n43,112.0\n606,650.6\n78,891.2\n3,981,301.2\nMar\n199,484.8\n63,709.2\n116,397.4\n378,460.0\n351,448.0\n762,380.7\n373,911.9\n99,744.6\n912,654.4\n42,478.9\n644,951.3\n72,605.2\n4,018,226.6\nApr\n186,896.3\n65,974.0\n130,284.9\n380,884.8\n330,001.9\n799,952.4\n373,648.3\n109,735.0\n944,772.9\n44,964.9\n653,801.0\n75,850.9\n4,096,767.2\nMay\n185,803.2\n73,167.5\n111,512.1\n523,774.7\n299,659.2\n801,335.5\n419,453.7\n113,355.0\n1,041,392.8\n50,057.9\n619,767.9\n71,388.8\n4,310,668.3\nJun\n187,657.0\n76,777.8\n109,336.0\n498,031.3\n304,087.2\n877,042.8\n338,069.8\n67,556.6\n1,131,497.1\n43,949.0\n651,072.8\n72,166.9\n4,357,244.2\nJul\n180,261.3\n80,536.4\n106,645.3\n452,744.1\n295,611.1\n911,363.8\n360,746.5\n88,518.4\n971,759.9\n53,101.6\n647,215.1\n70,618.8\n4,219,122.4\nAug\n168,075.2\n86,038.9\n108,477.7\n472,875.1\n335,158.3\n784,616.6\n401,830.1\n76,647.0\n1,042,260.4\n55,455.9\n657,177.1\n51,922.5\n4,240,535.0\nSep\n197,641.5\n85,842.6\n112,415.3\n462,925.6\n349,564.2\n831,813.0\n379,121.4\n71,090.0\n1,033,106.7\n53,348.1\n676,308.0\n55,759.2\n4,308,935.5\nOct\n219,922.3\n85,382.0\n116,874.4\n447,200.7\n331,543.6\n821,640.8\n378,568.5\n68,298.7\n1,100,719.7\n55,846.7\n648,757.5\n67,353.2\n4,342,108.3\nNov\n212,806.1\n85,815.7\n98,468.4\n465,089.7\n334,835.6\n846,959.0\n363,754.4\n71,866.2\n1,074,141.8\n56,110.3\n665,421.1\n64,630.3\n4,339,898.7\nDec\n196,092.9\n88,273.0\n102,636.9\n518,411.4\n336,909.2\n864,491.7\n307,845.0\n63,337.5\n1,163,771.1\n57,410.5\n639,985.6\n66,435.7\n4,405,600.5\n2016\nJan\n231,827.3\n101,724.1\n93,544.2\n517,089.2\n325,203.1\n977,272.1\n345,812.2\n62,026.3\n1,083,702.7\n61,755.6\n618,080.1\n58,808.7\n4,476,845.6\nFeb\n226,568.3\n105,747.9\n97,684.4\n525,070.9\n339,839.0\n896,869.2\n326,026.0\n59,381.3\n1,047,904.6\n63,248.3\n634,478.3\n63,017.8\n4,385,835.9\nMar\n243546.90\n102238.40\n116471.10\n582943.54\n362058.81\n879340.81\n368689.62\n60514.04\n402900.48\n62839.35\n642779.37\n61037.62\n4556027.12\nSource: Reserve Bank of Zimbabwe,2016\n/1 Including the only merchant bank still in operation.\n TABLE 2.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \nUS$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n14 \n \n \n \n \n \n \n \n \n \n \nEnd Period\n1999\n2000\n2001\n2002\n2003\n2004\n2005\n2006\n2007\n2008\n2009\n2010\n2011\n2012\n2013\n2014\n2015\n(US$ millions)\nLong-Term External Debt\n3,530\n3,227\n3,255\n3,327\n3,644\n3,927\n3,805\n3,965\n4,032\n4,464\n4,951\n5,175\n6,096\n6,607\n7,370\n8,444\n8,426\nGovernment\n2,461\n2,249\n2,328\n2,376\n2,617\n2,844\n2,895\n3,024\n3,054\n3,464\n4,037\n4,095\n4,638\n4,929\n5,012\n4,522\n5,293\nBilateral Creditors\n935\n1,050\n1,115\n1,107\n1,255\n1,455\n1,438\n1,520\n1,520\n1,863\n2,308\n2,325\n2,597\n2,694\n2,928\n2,445\n3,310\nMultilateral Creditors\n1,235\n1,199\n1,213\n1,269\n1,362\n1,389\n1,457\n1,504\n1,524\n1,592\n1,729\n1,770\n2,041\n2,235\n2,084\n2,078\n1,982\nPrivate Creditors\n291\n0\n0\n0\n0\n0\n0\n0\n10\n10\n0\n0\n0\n0\n0\n0\n0\nPublic Enterprises\n543\n534\n568\n616\n698\n714\n709\n766\n790\n825\n857\n938\n1,092\n1,198\n1,356\n1,661\n1,220\nBilateral Creditors\n316\n301\n315\n351\n403\n442\n439\n464\n474\n497\n453\n238\n711\n703\n858\n1,155\n760\nMultilateral Creditors\n224\n233\n253\n265\n295\n272\n270\n302\n316\n327\n403\n700\n382\n495\n498\n506\n460\nPrivate Creditors\n3\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\nMonetary Authorities\n364\n292\n292\n279\n288\n291\n144\n130\n137\n140\n140\n138\n127\n125\n125\n120\n110\nMultilateral Creditors - IMF\n364\n292\n292\n279\n288\n291\n144\n130\n137\n140\n140\n138\n127\n125\n125\n120\n110\nPrivate\n162\n152\n67\n56\n41\n78\n57\n45\n51\n35\n57\n142\n366\n480\n1,002\n2,261\n1,913\nShort-Term External Debt\n532\n298\n167\n183\n169\n144\n173\n281\n387\n226\n1,198\n1,382\n1,289\n890\n1,564\n2,394\n2,258\nSupplier's Credits\n150\n42\n13\n26\n51\n69\n107\n122\n178\n41\n193\n286\n134\n30\n0\n0\n0\nReserve Bank\n642\n642\n618\n614\n614\n587\n587\nPrivate\n382\n256\n154\n157\n118\n75\n66\n159\n209\n185\n363\n454\n537\n246\n950\n1,807\n1,671\nTotal External Debt\n4,062\n3,525\n3,422\n3,510\n3,812\n4,071\n3,978\n4,246\n4,419\n4,690\n6,149\n6,557\n7,385\n7,497\n8,934\n10,838\n10,684\nSource: Ministry of Finance & Economic Development, 2016 ; Reserve Bank of Zimbabwe, 2016\nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)\n \n \nMONTHLY ECONOMIC REVIEW \n15 \n \n \nEnd Period\nNominal Lending Rates2\nIndividuals \nCorporate\n2015 \nJan\n6.00-35.00\n14.16 \n9.66 \nFeb\n4.30-33.50\n14.00 \n9.73 \nMar\n4.30-33.50\n13.24 \n8.75 \nApr\n4.30-31.00\n12.71 \n8.84 \nMay\n5.00-31.00\n12.74 \n8.79 \nJun\n5.00-31.00\n11.94 \n8.42 \nJul\n5.00-31.00\n11.86 \n8.56 \nAug\n4.30-26.00\n11.96 \n8.51 \nSep\n4.30-25.00\n11.81 \n8.47 \nOct\n4.00-18.00\n10.98 \n7.28 \nNov\n4.00-16.25\n12.20 \n7.67 \nDec\n6.00-16.00\n11.99 \n7.57 \n2016 \nJan\n6.00-22.00\n12.08 \n7.38 \nFeb\n4.00-22.00\n11.48 \n7.29 \nMar\n4.00-22.00\n11.44 \n7.16 \n Source:Reserve Bank of Zimbabwe, 2016\nNotes\n3. Lending rates exclude rates on staff loans. \nTABLE 4.1 LENDING RATES (percent per annum)1\n2. Nominal Lending Rates depict the range of rates quoted by banks.\nCommercial Banks\nWeighted Average Lending Rates 3 \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n \n \nMONTHLY ECONOMIC REVIEW \n16 \n \n \nEND OF\nSAVINGS\n3 MONTHS\n2015 \nJan\n0.15-8.00\n3.00-17.00\nFeb\n0.50-12.00\n1.00-17.00\nMar\n0.50-12.00\n1.00-17.00\nApr\n0.30-8.00\n1.00-17.00\nMay\n0.30-8.00\n1.00-17.00\nJun\n0.30-8.00\n1.00-17.00\nJul\n0.30-8.00\n1.00-15.00\nAug\n0.30-8.00\n1.00-15.00\nSep\n0.30-8.00\n1.00-16.00\nOct\n0.50-8.00\n1.00-17.00\nNov\n0.75-8.00\n1.00-17.00\nDec\n0.50-8.00\n0.75-17.00\n2016 \nJan\n0.50-8.00\n0.75-17.00\nFeb\n0.50-8.00\n0.75-17.00\nMar\n0.50-8.00\n0.75-17.00\n Source:Reserve Bank of Zimbabwe, 2016\n* The range of rates qouted by banks during the period.\nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)*\nCOMMERCIAL BANKS\n \n \nMONTHLY ECONOMIC REVIEW \n17 \n \n \n \n \n \n \nFOOD \nINFLATION\nALL\nALCOHOLIC \nBEVERAGES \nCLOTHING\nHSING, \nWATER,\nFURNITURE\nHEALTH\nTRANSPORT\nCOMMUNICATION\nRECREATION \n&\nEDUCATION\nRESTAURANTS \n&\nMISC.\nTOTAL NON\nFOOD & \nITEMS\n& TOBACCO\nFOOTWEAR\nELECTRICTY, \nGAS\nAND\nCULTURE\nHOTELS\nGOODS &\nFOOD\nNON \nALCOHOLIC \nBEVERAGES\n& OTHER\nEQUIPMENT\nSERVICES\nFUELS\nWEIGHTS\n4.38\n6.05\n17.74\n9.91\n2.16\n9.76\n3.41\n2.1\n5.67\n1.38\n3.91\n66.47\n33.53\n100\n2015 \nJan\n-0.04\n-0.01\n0.08\n0.07\n0.06\n-0.97\n-13.41\n0.02\n-0.08\n-0.48\n0.30\n-0.69\n0.40\n-0.34\nFeb\n0.25\n-0.35\n-0.09\n-0.11\n-0.02\n-0.41\n-0.10\n-0.17\n0.00\n-0.28\n0.10\n-0.13\n0.05\n-0.07\nMar\n0.12\n-0.27\n-0.06\n-0.02\n-0.05\n0.02\n0.00\n0.03\n0.00\n0.12\n0.10\n-0.03\n-0.03\n-0.03\nApr\n-0.63\n-0.01\n-0.71\n-3.35\n-0.46\n-0.05\n-0.15\n-0.13\n-0.07\n0.59\n0.41\n-0.04\n-1.01\n-0.89\nMay\n-0.17\n-0.41\n0.18\n-0.25\n0.10\n-0.25\n-0.02\n-0.11\n0.00\n-0.08\n-0.44\n-0.10\n-0.37\n-0.19\nJun\n0.36\n-0.06\n-0.02\n-0.07\n-0.17\n0.06\n0.01\n-0.09\n0.00\n-0.07\n0.11\n0.01\n-0.45\n-0.14\nJul\n-0.08\n0.05\n-0.56\n-0.82\n0.15\n-0.09\n-0.02\n-0.14\n7.48\n-0.02\n0.03\n0.47\n-0.81\n0.06\nAug\n-0.27\n-0.01\n0.02\n-0.14\n-0.04\n-0.29\n-0.06\n-0.26\n0.00\n-0.14\n-0.09\n-0.10\n-0.75\n-0.36\nSep\n-0.05\n0.00\n-0.62\n-0.52\n0.04\n-0.42\n-0.38\n-0.01\n0.00\n1.28\n-0.30\n-0.31\n-0.47\n-0.36\nOct\n-0.43\n-0.31\n-0.08\n-0.32\n0.61\n-0.47\n0.02\n-0.14\n0.00\n-0.18\n0.12\n-0.17\n-0.53\n-0.29\nNov\n-0.15\n-0.19\n-0.01\n-0.24\n0.00\n-0.08\n-0.23\n-0.02\n2.83\n-0.03\n-0.02\n0.22\n0.04\n0.16\nDec\n-0.41\n-0.15\n0.18\n-0.07\n-0.06\n-0.25\n-0.03\n0.09\n0.00\n-0.07\n-0.30\n-0.06\n-0.21\n-0.11\n2016 \nJan\n0.05\n-0.02\n-0.04\n-0.30\n-0.15\n-0.37\n0.00\n-0.18\n0.00\n-0.16\n-0.29\n-0.13\n0.13\n-0.05\nFeb\n-0.14\n0.00\n-0.12\n-0.19\n-0.17\n-0.37\n-0.13\n-0.01\n0.00\n-0.17\n0.06\n-0.14\n-0.03\n-0.10\nMar\n-0.15\n-0.17\n-1.03\n-0.73\n-0.13\n-0.30\n0.42\n-0.04\n3.36\n-0.62\n-0.60\n-0.11\n-0.13\n-0.12\nSource:Zimstat, 2016\nNON-FOOD INFLATION\nTABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX\n( DECEMBER 2012 = 100)\n \n \nMONTHLY ECONOMIC REVIEW \n18 \n \n \nFOOD \nIN FLA TION\nA LL\nA LC OHOLIC \nB EV ER A GES \nC LOTHIN G\nHS IN G, \nWA TER ,\nFU R N ITU R E\nHEA LTH\nTR A N S POR T\nC OM M U N IC A TIO\nN\nR EC R EA TION \n&\nED U C A TION\nR ES TA U R A N T\nS &\nM IS C .\nTOTA L N ON\nFOOD & \nITEM S\n& TOB A C C O\nFOOTWEA R\nELEC TR IC TY , \nGA S\nA N D\nC U LTU R E\nHOTELS\nGOOD S &\nFOOD\nN ON \nA LC OHOLIC \nB EV ER A GES\n& OTHER\nEQU IPM EN T\nS ER V IC ES\nFU ELS\nWEIGHTS\n4.38\n6.05\n17.74\n9.91\n2.16\n9.76\n3.41\n2.1\n5.67\n1.38\n3.91\n66.47\n33.53\n100\n2015\nJan\n0.47\n0.00\n-0.16\n-1.86\n1.21\n0.19\n-13.69\n-0.44\n4.35\n-2.16\n-1.82\n-0.57\n-2.74\n-1.28\nFeb\n0.73\n-0.25\n-0.14\n-1.88\n1.10\n-0.30\n-13.78\n-0.57\n4.11\n-2.36\n-1.80\n-0.68\n-2.87\n-1.40\nMar\n0.90\n-0.46\n0.62\n-1.78\n1.03\n-0.28\n-13.78\n-0.54\n4.11\n-2.26\n-1.41\n-0.44\n-2.77\n-1.20\nApr\n-2.93\n0.59\n-1.07\n-2.62\n-1.50\n0.81\n-0.76\n-13.88\n-0.95\n-7.02\n-0.84\n-1.41\n-2.51\n-2.65\nMay\n0.31\n-1.37\n-2.39\n-1.45\n0.92\n-1.23\n-13.87\n-0.86\n-7.09\n-0.79\n-1.42\n-2.56\n-3.00\n-2.70\nJun\n0.72\n-1.54\n-2.41\n-1.58\n0.45\n-1.14\n0.00\n-0.87\n-7.09\n-0.75\n-1.38\n-2.57\n-3.32\n-2.81\nJul\n0.74\n-1.61\n-3.24\n-2.37\n0.50\n-1.12\n-13.77\n-0.93\n-1.90\n-1.61\n-0.99\n-2.35\n-3.65\n-2.77\nAug\n0.61\n-1.53\n-3.22\n-2.37\n0.42\n-1.67\n-13.77\n-1.11\n-1.88\n-1.78\n0.13\n-2.38\n-3.59\n-2.77\nSep\n0.47\n-1.67\n-4.25\n-2.62\n0.25\n-2.45\n-14.05\n-0.99\n-1.88\n-0.12\n-0.28\n-2.83\n-3.72\n-3.11\nOct\n-0.12\n-2.04\n-4.33\n-2.80\n0.86\n-2.64\n-13.98\n-1.09\n-1.89\n-0.32\n-0.20\n-2.95\n-4.00\n-3.29\nNov\n-0.45\n-2.35\n-4.32\n-2.94\n0.77\n-2.81\n-14.19\n-1.14\n11.08\n0.28\n-0.27\n-1.80\n-3.85\n-2.46\nDec\n-0.88\n-2.39\n-4.29\n-2.91\n0.57\n-3.24\n-14.22\n-0.89\n11.08\n0.43\n-0.42\n-1.89\n-3.71\n-2.47\n2016\nJan\n-0.79\n-2.41\n-4.40\n-3.27\n0.37\n-2.66\n-0.93\n-1.09\n11.17\n0.75\n-1.01\n-1.34\n-3.96\n-2.19\nFeb\n-1.16\n-2.06\n-4.43\n-3.35\n0.22\n-2.62\n-0.97\n0.21\n11.17\n0.96\n-1.17\n-1.35\n-4.04\n-2.22\nMar\n-1.43\n-1.97\n-5.36\n-4.04\n0.14\n-2.92\n-0.55\n-1.00\n14.91\n0.21\n-1.86\n-1.43\n-4.13\n-2.31\nSource: Zimstat, 2016\nN ON - FOOD IN FLA TION\nTABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1\n(DECEMBER 2012 = 100)\n \n \nMONTHLY ECONOMIC REVIEW \n19 \n \n \nSA\nBW\nJAPANESE\nEUROPEAN\nPOUND\nEND OF\nRAND/1\nPULA/1\nYEN/1\nCURRENCY/2\nSTERLING/2\n2015\nJAN\n11.5530\n9.6108\n117.8500\n1.1334\n1.5081\nFEB\n11.5530\n9.6108\n119.1700\n1.1200\n1.5400\nMAR\n12.1600\n9.9600\n120.1900\n1.0790\n1.4771\nAPR\n11.8200\n9.7400\n118.6000\n1.1100\n1.5400\nMAY\n12.1338\n9.7561\n123.8650\n1.0947\n1.5300\nJUNE\n12.2600\n9.9200\n122.3100\n1.1191\n1.5723\nJULY\n12.7100\n10.6700\n124.0300\n1.0941\n1.5601\nAUG\n13.3100\n10.2000\n121.1100\n1.1247\n1.5427\nSEPT\n13.9000\n10.5500\n119.9400\n1.1245\n1.5385\nOCT\n13.8500\n10.4700\n121.1500\n1.0981\n1.5400\nNOV\n14.3958\n10.6952\n122.7250\n1.0589\n1.5315\nDEC\n15.5600\n11.0990\n120.4200\n1.0929\n1.4925\n2016\nJAN\n16.0900\n11.4300\n120.5500\n1.0905\n1.4493\nFEB\n16.1100\n11.2700\n113.0300\n1.0990\n1.3880\nMAR\n15.4500\n11.1000\n112.9500\n1.1100\n1.4200\nSource: Reserve Bank of Zimbabwe, 2016\n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES\n1. Foreign currency per US \n2. US Dollar per unit of foreign \n \n \nMONTHLY ECONOMIC REVIEW \n20 \n \n \n \n \n \n \n \n \n \nForeign\nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\n&\nBalances\nBalances \nBalances\nwith RBZ\nBond\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgric PEs\nCoins\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n2015\n Jan\n0.6\n222.5\n527.9\n159.0\n182.6\n163.6\n325.7\n0.0\n1581.9\n21.4\n2796.8\n557.7\n360.2\n366.1\n5,684.15\n \n Feb\n0.4\n216.7\n501.2\n149.6\n183.2\n128.6\n344.6\n0.0\n1524.2\n17.9\n2792.5\n564.8\n325.3\n356.8\n5,581.53\n \n Mar\n0.6\n246.9\n461.4\n147.8\n222.2\n121.6\n338.0\n5.4\n1543.8\n15.5\n2925.5\n527.3\n352.5\n362.0\n5,726.56\n \n Apr\n0.7\n205.5\n492.8\n158.6\n218.5\n112.0\n335.1\n5.4\n1528.6\n18.2\n2967.1\n527.1\n364.2\n385.4\n5,790.71\n \n May\n0.7\n237.3\n495.6\n135.1\n181.0\n101.4\n622.7\n5.5\n1779.2\n18.2\n2922.7\n525.7\n434.2\n384.3\n6,064.30\n \n Jun\n0.8\n245.7\n570.9\n155.1\n144.7\n90.8\n750.1\n4.4\n1962.4\n28.8\n2872.6\n498.4\n351.0\n386.2\n6,099.41\n \n Jul\n0.9\n226.0\n544.9\n137.3\n135.3\n86.3\n770.0\n0.0\n1900.7\n28.8\n2815.0\n504.1\n361.1\n388.8\n5,998.54\n \n Aug\n1.0\n234.0\n523.7\n104.3\n194.7\n76.1\n786.5\n5.1\n1925.3\n28.8\n2810.1\n535.2\n339.9\n390.5\n6,029.64\n \n Sep\n1.0\n255.2\n551.8\n114.8\n192.9\n63.7\n764.9\n5.1\n1949.4\n28.0\n2844.1\n599.2\n404.6\n392.3\n6,217.68\n \n Oct\n0.9\n215.7\n536.1\n143.7\n171.5\n83.5\n808.3\n5.2\n1964.9\n26.7\n2884.2\n599.3\n350.6\n391.5\n6,217.02\n \n Nov\n1.2\n186.9\n526.1\n135.9\n123.5\n74.3\n871.8\n5.2\n1924.9\n26.6\n2931.5\n603.6\n355.3\n393.6\n6,235.48\n \n Dec\n0.7\n181.6\n542.9\n127.5\n118.6\n79.7\n1031.3\n5.2\n2087.6\n20.8\n2820.5\n582.0\n352.8\n396.7\n6,260.38\n \n2016\n Jan\n1.0\n172.0\n646.9\n119.2\n130.7\n76.6\n981.9\n5.2\n2133.5\n20.6\n2763.7\n582.8\n387.3\n396.6\n6,284.43\n \n Feb\n1.2\n140.7\n682.1\n96.3\n118.1\n21.5\n1125.6\n5.2\n2190.7\n20.1\n2680.9\n477.1\n390.1\n399.3\n6,158.19\n \n Mar\n1.3\n161.9\n714.2\n96.3\n156.8\n19.2\n1140.5\n5.1\n2295.4\n20.3\n2690.6\n430.6\n428.7\n405.1\n6,270.83\n \nSource:Reserve Bank of Zimbabwe, 2016\nLiquid Assets\nTABLE 7.1: COMMERCIAL BANKS - ASSETS\nSecurities\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n21 \n \n \n \n \n \n \n \n \n \nDeposits\nCapital\nContigent\nOther\nTotal\nOf which\nand\nLiablities\nLiablities\nLiabilities to the \nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\nPublic\n2015\nJan\n2056.2\n996.2\n561.7\n3614.0\n470.1\n0.0\n79.5\n728.5\n557.7\n234.3\n5,684.20\n \n3614.0\nFeb\n2079.6\n876.1\n611.6\n3567.3\n426.6\n0.0\n75.6\n720.3\n564.8\n227.0\n5,581.53\n \n3567.3\nMar\n2139.3\n940.4\n513.3\n3593.0\n461.1\n0.0\n101.9\n749.7\n527.3\n293.6\n5,726.56\n \n3593.0\nApr\n2098.7\n943.5\n629.8\n3672.0\n448.9\n0.0\n103.4\n747.4\n527.1\n291.8\n5,790.71\n \n3672.0\nMay\n2131.8\n1015.3\n615.3\n3762.4\n574.7\n0.0\n82.4\n814.7\n525.7\n304.4\n6,064.30\n \n3762.4\nJun\n2213.2\n1021.9\n593.5\n3828.7\n560.2\n0.8\n103.1\n814.9\n498.4\n293.2\n6,099.41\n \n3828.7\nJul\n2166.4\n889.7\n732.5\n3788.6\n478.9\n0.8\n88.2\n813.0\n504.1\n325.0\n5,998.54\n \n3788.6\nAug\n2266.7\n790.9\n723.1\n3780.7\n490.7\n0.0\n83.4\n825.7\n535.2\n313.9\n6,029.64\n \n3780.7\nSep\n2276.7\n967.6\n648.7\n3892.9\n504.0\n0.0\n72.0\n828.1\n599.2\n321.5\n6,217.68\n \n3892.9\nOct\n2259.9\n909.3\n667.8\n3837.0\n494.3\n0.0\n122.2\n841.2\n599.3\n322.9\n6,217.02\n \n3837.0\nNov\n2475.9\n919.4\n580.1\n3975.4\n347.6\n0.0\n126.0\n845.3\n603.6\n337.5\n6,235.48\n \n3975.4\nDec\n2512.2\n999.0\n543.0\n4054.2\n320.4\n0.0\n140.4\n866.9\n582.0\n296.5\n6,260.38\n \n4054.2\n2016\nJan\n2562.6\n952.2\n558.7\n4073.5\n313.2\n0.0\n135.6\n871.3\n582.8\n308.0\n6,284.43\n \n4073.5\nFeb\n2545.7\n959.3\n572.0\n4077.1\n298.9\n0.0\n126.0\n878.1\n477.1\n301.0\n6,158.19\n \n4077.1\nMar\n2653.7\n893.4\n680.0\n4227.1\n303.1\n0.0\n135.2\n886.6\n430.6\n288.2\n6,270.83\n \n4227.1\nSource:Reserve Bank of Zimbabwe, 2016\nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES\nUS$ Millions\nAmounts Owing to\n \n \nMONTHLY ECONOMIC REVIEW \n22 \n \n \n \n \n \n \n \n \n \nForeign\nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\nBond\n&\nBalances\nBalances \nBalances\nLiquid\nwith RBZ\nCoins\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgris Pes\nAssets\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n2015\n Jan\n0.0\n0.6\n0.3\n0.0\n0.1\n1.6\n0.0\n0.0\n2.0\n0.0\n70.2\n8.3\n19.0\n23.7\n123.8\n Feb\n0.0\n0.4\n0.2\n0.1\n0.1\n1.6\n0.0\n0.0\n2.5\n0.0\n72.0\n8.3\n19.3\n23.6\n125.7\n Mar\n0.0\n0.4\n0.1\n0.0\n0.1\n1.5\n0.0\n0.0\n2.1\n0.0\n73.3\n8.2\n18.5\n23.4\n125.5\n Apr\n0.0\n0.3\n0.1\n0.0\n0.1\n0.2\n0.0\n0.0\n0.6\n0.0\n66.7\n0.0\n10.3\n21.3\n98.9\n May\n0.0\n0.4\n0.0\n0.0\n0.0\n0.2\n0.0\n0.0\n0.6\n0.0\n67.9\n0.0\n9.6\n21.2\n99.3\n Jun\n0.0\n0.3\n0.0\n0.0\n0.0\n0.4\n0.0\n0.0\n0.7\n0.0\n68.1\n0.0\n9.7\n21.1\n99.6\n Jul\n0.0\n0.2\n1.6\n0.0\n0.0\n0.2\n0.0\n0.0\n2.0\n0.0\n67.8\n0.0\n9.2\n21.0\n100.0\n Aug\n0.0\n0.1\n1.8\n0.0\n0.0\n0.2\n0.0\n0.0\n2.0\n0.0\n60.0\n0.0\n9.3\n28.1\n99.4\n Sep\n0.0\n0.1\n2.2\n0.0\n0.0\n0.2\n0.0\n0.0\n2.5\n0.0\n59.2\n0.0\n9.2\n28.0\n98.9\n Oct\n0.0\n0.1\n2.1\n0.0\n0.0\n0.2\n0.0\n0.0\n2.4\n0.0\n59.4\n0.0\n9.1\n27.8\n98.8\n Nov\n0.0\n0.1\n2.0\n0.0\n0.0\n0.2\n0.0\n0.0\n2.4\n0.0\n58.5\n0.0\n9.5\n20.6\n91.0\n Dec\n0.0\n0.1\n1.6\n0.0\n0.0\n0.2\n0.0\n0.0\n1.9\n0.0\n59.8\n0.0\n9.4\n20.5\n91.6\n2016\n Jan\n0.0\n0.1\n1.9\n0.0\n0.0\n0.2\n0.0\n0.0\n2.2\n0.0\n60.7\n0.0\n9.3\n20.3\n92.5\n Feb\n0.0\n0.1\n0.9\n1.1\n0.0\n0.2\n0.0\n0.0\n2.3\n0.0\n61.6\n0.0\n9.2\n20.2\n93.2\n Mar\n0.0\n0.1\n1.9\n0.0\n0.0\n0.2\n0.0\n0.0\n2.3\n0.0\n62.0\n0.0\n9.3\n20.1\n93.6\nSource:Reserve Bank of Zimbabwe, 2016\nUS$ Millions\nTABLE 8.1 : ACCEPTING HOUSES - ASSETS\nLiquid Assets\nSecurities\n \n \nMONTHLY ECONOMIC REVIEW \n23 \n \n \n \n \n \nOf which\nDeposits\nCapital\nContigent\nOther\nTotal\nLiabilities to the \nand\nLiablities\nLiablities\nPublic\nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\n2015\n Jan\n39.0\n40.9\n0.0\n80.0\n11.7\n0.0\n0.0\n-47.0\n8.3\n70.7\n123.8\n80.0\n Feb\n38.4\n40.4\n0.0\n78.7\n11.7\n0.0\n0.0\n-48.7\n8.3\n75.6\n125.7\n78.7\n Mar\n68.6\n12.1\n0.0\n80.7\n12.0\n0.0\n0.0\n-50.7\n8.2\n75.2\n125.5\n80.7\n Apr\n63.9\n0.0\n0.0\n63.9\n0.0\n0.0\n0.0\n-27.5\n0.0\n62.4\n98.9\n63.9\n May\n63.9\n0.0\n0.0\n63.9\n0.0\n0.0\n0.0\n-28.8\n0.0\n64.2\n99.3\n63.9\n Jun\n62.9\n0.0\n0.0\n62.9\n0.0\n0.0\n0.0\n-28.9\n0.0\n65.6\n99.6\n62.9\n Jul\n62.9\n0.0\n0.0\n62.9\n0.0\n0.0\n0.0\n-27.8\n0.0\n64.8\n100.0\n62.9\n Aug\n62.9\n0.0\n0.0\n62.9\n0.0\n0.0\n0.0\n-14.9\n0.0\n51.3\n99.4\n62.9\n Sep\n62.2\n0.0\n0.0\n62.2\n0.0\n0.0\n0.0\n-15.3\n0.0\n52.0\n98.9\n62.2\n Oct\n61.9\n0.0\n0.0\n61.9\n0.0\n0.0\n0.0\n-16.4\n0.0\n53.2\n98.8\n61.9\n Nov\n58.8\n0.0\n0.0\n58.8\n0.0\n0.0\n0.0\n-20.2\n0.0\n52.5\n91.0\n58.8\n Dec\n58.5\n0.0\n0.0\n58.5\n0.0\n0.0\n0.0\n-20.1\n0.0\n53.2\n91.6\n58.5\n2016\n Jan\n58.5\n0.0\n0.0\n58.5\n0.0\n0.0\n0.0\n-18.8\n0.0\n52.9\n92.5\n58.5\n Feb\n58.3\n0.0\n0.0\n58.3\n0.0\n0.0\n0.0\n-19.4\n0.0\n54.3\n93.2\n58.3\n Mar\n58.3\n0.0\n0.0\n58.3\n0.0\n0.0\n0.0\n-20.1\n0.0\n55.3\n93.6\n58.3\nSource:Reserve Bank of Zimbabwe, 2016\nAmounts Owing to\nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n24 \n \n \n \n \n \n \n \nForeign\nMortgage\nOther\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvances\nAdvances\nAssets\nAssets\n&\nBalances \nNostro \nwith RBZ/1\nBond\nCoin\nwith Other \nBalances\nTrade\nTreasury\nAgris Pes\nCoins\nat Banks\nBanks\nBills\n2015\nJan\n0.1\n37.3\n196.0\n0.0\n0.1\n51.8\n0.0\n307.1\n0.0\n511.6\n172.1\n105.8\n126.1\n1222.6\nFeb\n0.1\n32.1\n244.4\n0.0\n0.1\n51.9\n0.0\n328.6\n0.0\n522.9\n176.2\n106.8\n125.8\n1260.2\nMar\n0.1\n52.4\n214.4\n0.0\n0.1\n52.0\n0.0\n319.0\n0.0\n508.7\n180.0\n122.5\n125.5\n1255.5\nApr\n0.1\n32.5\n243.2\n0.0\n0.1\n60.4\n0.0\n336.3\n0.0\n520.2\n182.5\n118.3\n124.8\n1282.0\nMay\n0.1\n33.6\n257.7\n0.0\n0.1\n60.1\n0.0\n351.5\n0.0\n448.7\n235.1\n137.5\n125.2\n1298.0\nJun\n0.2\n59.6\n204.9\n0.0\n0.1\n60.1\n0.0\n324.8\n0.0\n464.9\n231.9\n139.4\n122.0\n1283.0\nJul\n0.2\n51.6\n205.5\n0.0\n0.1\n62.9\n0.0\n320.2\n0.0\n461.5\n230.6\n133.9\n121.9\n1268.2\nAug\n0.1\n53.0\n158.9\n0.0\n0.1\n76.2\n0.0\n288.4\n0.0\n482.9\n228.4\n136.0\n122.2\n1257.9\nSep\n0.1\n55.4\n161.7\n0.0\n0.1\n76.0\n0.0\n293.3\n0.0\n480.4\n263.4\n125.8\n122.1\n1285.0\nOct\n0.1\n45.2\n229.1\n0.0\n0.1\n76.0\n0.0\n350.5\n0.0\n494.0\n265.1\n126.0\n122.8\n1358.4\nNov\n0.1\n43.6\n256.8\n0.0\n0.1\n76.1\n0.0\n376.7\n0.0\n292.0\n479.3\n131.8\n121.1\n1400.9\nDec\n0.1\n27.3\n284.0\n0.0\n0.0\n76.6\n0.0\n387.9\n0.0\n317.4\n470.4\n114.7\n118.4\n1408.8\n2016\nJan\n0.1\n17.4\n227.8\n10.0\n0.0\n76.6\n0.0\n331.9\n0.0\n326.9\n415.3\n145.6\n119.7\n1339.4\nFeb\n0.2\n13.9\n253.5\n0.0\n0.0\n65.6\n0.0\n333.2\n0.0\n324.4\n420.2\n148.4\n119.6\n1345.8\nMar\n0.2\n20.8\n266.6\n0.0\n0.0\n48.3\n0.0\n335.9\n0.0\n339.6\n399.4\n142.9\n119.4\n1337.2\nSource:Reserve Bank of Zimbabwe, 2016\nLiquid Assets\nSecurities\nTABLE 9.1 : BUILDING SOCIETIES - ASSETS\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n25 \n \n \n \n \n \n \nOf which\nCapital\nOther\nTotal\nLiabilities to the \nand\nLiabilities\nPublic\nEnd of\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nOther Banks\nReserves\n2015\nJan\n373.0\n397.1\n770.2\n54.6\n99.1\n267.8\n31.0\n1222.6\n770.2\nFeb\n405.8\n400.3\n806.2\n53.6\n98.3\n272.9\n29.2\n1260.2\n806.2\nMar\n408.1\n386.3\n794.4\n50.8\n108.8\n275.8\n25.8\n1255.5\n794.4\nApr\n464.1\n364.8\n828.9\n48.3\n99.4\n276.8\n28.7\n1282.0\n828.9\nMay\n472.0\n391.6\n863.6\n48.5\n87.4\n270.7\n27.8\n1298.0\n863.6\nJun\n492.9\n343.9\n836.8\n48.3\n94.0\n272.9\n31.1\n1283.0\n836.8\nJul\n458.3\n370.6\n828.9\n48.5\n85.8\n277.4\n27.5\n1268.2\n828.9\nAug\n438.4\n386.1\n824.5\n47.6\n73.2\n282.7\n29.9\n1257.9\n824.5\nSep\n498.9\n334.3\n833.2\n43.5\n84.9\n288.4\n35.0\n1285.0\n833.2\nOct\n465.3\n428.4\n893.7\n42.4\n99.0\n293.6\n29.7\n1358.4\n893.7\nNov\n446.1\n474.4\n920.4\n42.4\n104.3\n297.7\n36.0\n1400.9\n920.4\nDec\n480.5\n463.9\n944.4\n43.0\n99.4\n293.3\n28.8\n1408.8\n944.4\n2016\nJan\n447.7\n443.1\n890.7\n43.3\n74.7\n298.3\n32.3\n1339.4\n890.7\nFeb\n446.8\n441.8\n888.6\n42.3\n81.6\n301.9\n31.5\n1345.8\n888.6\nMar\n433.3\n449.5\n882.8\n37.0\n81.7\n289.7\n46.0\n1337.2\n882.8\nSource:Reserve Bank of Zimbabwe, 2016\nDeposits\nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES\nUS$ Millions \nAmounts Owing to\n \n \nMONTHLY ECONOMIC REVIEW \n26 \n \n \n \n \nMarket Capitalisation\nIndustrial\nMining\nMarket Turnover(US$)\nVolume of Shares\nUS$ Millions\n2015\nJan\n164.9\n58.13\n16,062,740.8\n57,390,451\n4,365.1\nFeb\n167.16\n55.38\n34,775,616.2\n119,324,114\n4,353.4\nMar\n158.22\n43.92\n18,903,881.0\n405,884,918\n4,117.1\nApr\n156.23\n42.93\n29,188,562.0\n563,833,853\n4,066.1\nMay\n152.96\n44.45\n23,280,422.2\n290,320,685\n3,978.1\nJun\n148.40\n44.30\n14,514,679.0\n80,441,278\n3,803.8\nJul\n145.35\n39.36\n20,419,108.0\n157,184,218\n3,812.7\nAug\n135.43\n35.34\n15,344,249.0\n76,187,436\n3,552.0\nSep\n131.93\n24.36\n18,202,232.0\n105,678,504\n3,444.5\nOct\n130.83\n23.57\n12,864,086.0\n63,758,585\n3,416.1\nNov\n117.55\n22.33\n8,947,586.0\n90,417,554\n3,141.7\nDec\n114.85\n23.72\n16,360,451.6\n183,792,940\n3,073.4\n2016\nJan\n103.04\n19.53\n10,399,904.0\n61,882,757\n2,790.4\nFeb\n99.40\n19.14\n15,556,983\n95,020,938\n2,692.3\nMar\n97.17\n19.53\n16,428,571\n97,601,725\n2,645.1\nSource:Zimbabwe Stock Exchange (ZSE),2016\nIndices\nTable 10: ZIMBABWE STOCK MARKET STATISTICS\n \n \n27 \n \nMONTHLY ECONOMIC REVIEW \n \n \n \n \n \nCommercial\nBuilding \nEnd of\nBanks\nP.O.S.B.\nSocieties\nTOTAL\n2015\nJan\n1,557.9\n86.3\n770.2\n2,455.2\nFeb\n1,487.7\n90.4\n806.2\n2,384.2\nMar\n1,453.7\n93.6\n794.4\n2,353.9\nApr\n1,573.3\n90.4\n828.9\n2,492.6\nMay\n1,630.6\n89.2\n863.6\n2,583.4\nJun\n1,615.4\n95.1\n836.8\n2,547.3\nJul\n1,622.2\n92.4\n828.9\n2,543.5\nAug\n1,514.0\n93.1\n824.5\n2,431.5\nSep\n1,616.2\n101.3\n833.2\n2,550.7\nOct\n1,577.1\n97.5\n893.7\n2,568.3\nNov\n1,499.5\n100.0\n920.4\n2,520.0\nDec\n1,542.0\n94.4\n944.4\n2,580.8\n2016\nJan\n1,511.0\n99.6\n890.7\n2,501.3\nFeb\n1,531.3\n99.2\n888.6\n2,519.2\nMar\n1,573.4\n99.6\n882.8\n2,555.8\nSource:Reserve Bank of Zimbabwe, 2016\n1/ Comprises all deposits other than demand deposits.\nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS\nUS$ Millions\n \n \n28 \n \nMONTHLY ECONOMIC REVIEW \n \n \nLiquid\nPrescribed\nExcess\nLiquid\nPrescribed\nExcess\nassets\nliquid\nliquid\nassets\nliquid\nLiquid\nEnd of\nheld\nassets/1\nassets\nheld\nassets/1\nassets\n2015\nJan\n1,581.9\n1,084.2\n497.7\n2.0\n24.0\n-22.0\nFeb\n1,524.2\n1,070.2\n454.0\n2.5\n23.6\n-21.2\nMar\n1,543.8\n1,077.9\n465.9\n2.1\n24.2\n-22.1\nApr\n1,528.6\n1,101.6\n427.0\n0.6\n19.2\n-18.6\nMay\n1,779.2\n1,128.7\n650.4\n0.6\n19.2\n-18.5\nJun\n1,962.4\n1,148.6\n813.8\n0.7\n18.9\n-18.2\nJul\n1,900.7\n1,136.6\n764.1\n2.0\n18.9\n-16.9\nAug\n1,925.3\n1,134.2\n791.0\n2.0\n18.9\n-16.9\nSep\n1,949.4\n1,167.9\n781.6\n2.5\n18.6\n-16.1\nOct\n1,964.9\n1,151.1\n813.8\n2.4\n18.6\n-16.2\nNov\n1,924.9\n1,192.6\n732.2\n2.4\n17.6\n-15.3\nDec\n2,087.6\n1,216.3\n871.3\n1.9\n17.6\n-15.6\n2016\nJan\n2,133.5\n1,222.1\n911.4\n2.2\n17.6\n-15.4\nFeb\n2,190.7\n1,223.1\n967.6\n2.3\n17.5\n-15.2\nMar\n2,295.4\n1,268.1\n1,027.2\n2.3\n17.5\n-15.2\nSource:Reserve Bank of Zimbabwe, 2016\n1/With effect from 1 August 2011, the prescribed liquid asset ratio was reviewed to 25% of liabilities to the public, from 20%. \nUS$ Millions\nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \nCommercial Banks\n Accepting Houses\n \n \nMONTHLY ECONOMIC REVIEW \n29 \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2015\nJan\n3659.00\n11.81\n154.43\n311.94\n352.18\n113.46\nFeb\n3221.13\n13.69\n141.79\n275.8\n334.62\n104.62\nMar\n3801.96\n11.11\n131.97\n298.30\n364.69\n111.70\nApr\n3919.47\n10.81\n133.99\n299.67\n341.22\n112.38\nMay\n3467.10\n13.08\n128.76\n316.66\n389.97\n124.5\nJun\n3014.73\n15.35\n123.53\n333.65\n438.72\n136.62\nJul\n4010.26\n12.64\n154.61\n332.37\n391.04\n128.61\nAug\n3299.06\n11.39\n193.36\n313.18\n391.19\n133.55\nSep\n3762.74\n12.93\n131.89\n318.75\n396.28\n396.28\nOct\n3964.53\n11.84\n149.41\n334.93\n434.71\n151.02\nNov\n3551.4\n12.02\n130.20\n347.68\n416.95\n154.38\nDec\n4167.88\n10.95\n146.60\n411.34\n477.51\n213.28\n2016\nJan\n3385.87\n11.10\n137.39\n331.52\n388.89\n167.68\nFeb\n3448.15\n11.86\n138.75\n312.12\n389.26\n167.93\nMar\n3460.22\n11.26\n142.08\n288.82\n417.13\n255.93\nSource:Reserve Bank of Zimbabwe, 2016\nTABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY\nValues of Transactions (US$ millions)\n \n \nMONTHLY ECONOMIC REVIEW \n30 \n \n \n \n \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2015\nJan\n170.77\n29.55\n1174.09\n1124.49\n16903.26\n37.60\nFeb\n172.25\n32.23\n1140.94\n1027.88\n16160.42\n39.94\nMar\n191.64\n30.33\n1183.64\n1110.17\n18211.89\n44.48\nApr\n180.34\n26.98\n1151.25\n1107.52\n17269.69\n43.55\nMay\n179.76\n27.38\n1052.50\n1123.77\n18684.62\n43.22\nJun\n196.41\n31.85\n1121.24\n1038.18\n17478.24\n47.17\nJul\n199.10\n34.00\n1288.23\n1167.43\n18670.44\n49.36\nAug\n153.13\n28.05\n1373.48\n1122.22\n19750.59\n46.52\nSep\n164.31\n31.15\n1196.87\n1103.91\n19133.21\n50.40\nOct\n156.43\n30.78\n1295.03\n1152.83\n22166.45\n54.05\nNov\n143.44\n32.19\n1206.16\n1151.34\n21390.18\n51.34\nDec\n155.04\n27.25\n1359.88\n1183.57\n22904.33\n52.59\n2016\nJan\n132.26\n24.62\n1328.93\n1104.45\n19956.07\n49.89\nFeb\n148.42\n30.26\n1289.46\n1067.13\n19793.73\n54.57\nMar\n152.47\n29.65\n1455.70\n962.91\n21731.49\n61.86\nSource:Reserve Bank of Zimbabwe, 2016\nTABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY\nVolumes of Transactions (in thousands)\n \n \nMONTHLY ECONOMIC REVIEW \n31", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/March2016.pdf"}

dedup/cb_requests/05d35f3a629517581c11c13fe4b38132.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/Monthly_Economic_Reviews/Monthly_Economic_Review_October_2025.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "Monthly_Economic_Review_October_2025.pdf", "subfolder": "SARB\\Monthly_Economic_Reviews", "token_count": 17451}

dedup/cb_requests/064134a75f87d968f4a9a9a80eae73ad.json

@@ -0,0 +1 @@
+{"doc_id": "064134a75f87d968f4a9a9a80eae73ad", "text": "1\n \nPRESS STATEMENT \nEMBARGO DELIVERY \n20 November 2025 \n \nSTATEMENT OF THE MONETARY POLICY COMMITTEE \n \nIssued by Lesetja Kganyago, Governor of the South African Reserve Bank \nGood day \nIt has been a turbulent year for the global economy. Trade patterns are shifting, but \nglobal growth is holding up better than expected.1 In the euro area, inflation appears \ncontained. However, in other major economies price dynamics are more challenging, \nwith deflation risk in China, and inflation materially above 2% targets in the United \nKingdom, Japan, and the United States (US). In emerging markets (EM), by contrast, \ninflation has eased. Indeed, 2025 has been better than expected for EMs. This is \ndue to stronger capital flows and a weaker dollar, as well as favourable terms of \ntrade. \nMeanwhile, there is an investment boom underway in Artificial Intelligence (AI) \ninfrastructure, accompanied by aggressive valuations for major technology stocks. \nDespite the promise of AI, there are signs of a bubble inflating. With lower rates, and \ncheap credit even for riskier borrowers, financial markets appear vulnerable to a \ncorrection. If that happens, emerging markets could suffer from spillovers. \nTurning to South Africa, growth is looking steadier than last year. The second-quarter \noutcome surprised on the upside and the third-quarter indicators are looking broadly \npositive. Our 2025 growth forecast has therefore been revised slightly higher, to \n \n1 The SARB’s growth projection for South Africa’s major trading partners has been marked up to \n2.7%, from 2.5% as of the September MPC. \n \n2\n1.3%. We continue to see growth nearing 2% over the forecast horizon.2 \nEmployment has also been rising.3 \nHousehold spending has been relatively strong to date, supported by wealth effects,4 \nfurther withdrawals from Two-Pot pension savings, and lower inflation and interest \nrates.5 At the same time, investment has disappointed, contracting further in the first \nhalf of the year. We expect an investment recovery in the second half, and if this \nmaterialises it will be an encouraging signal that the economy is getting back to its \nhistoric growth trend.6 As it stands, growth is better, but not yet healthy. \nThe risks to the growth outlook are assessed as balanced. \nMoving to prices, inflation has accelerated somewhat over the past few months, \nreaching 3.6% for October. This is higher than the 3% average for the first half of the \nyear.7 The uptick is mainly due to non-core items: meat, vegetables, and fuel. We \ncontinue to see this pressure as temporary, with inflation heading lower again from \nthe beginning of next year. Indeed, recent outcomes have undershot our forecasts \nslightly. \nBecause of these downside surprises, together with a stronger rand,8 and a lower oil \nprice assumption,9 we have small downward revisions to our inflation outlook, for \nboth 2025 and 2026.10 We remain on track to deliver 3% inflation over the medium \nterm. \n \n2 The 2025Q3 growth forecast has been revised up to 0.5% (q/q sa), from 0.4%. 2025Q4 has also \nbeen revised up, to 0.4%, from 0.3%. \n3 According to the Quarterly Labour Force Survey, total employment rose to 17.055 million in \nSeptember 2025, which contrasts with 16.946 million in September 2024 (one year ago) and 16.807 \nmillion in June 2025 (one quarter ago). The official unemployment rate also eased, to 31.9% (versus \n32.1% a year ago and 33.2% one quarter ago). \n4 This reflects strong asset price performance; for instance, the year-to-date change for the JSE All-\nShare Index is ±30%. \n5 Household consumption growth is projected at 2.7% for 2025, approximately double the growth rate \nof overall GDP (1.3%). \n6 In the MPC’s modelling framework, steady-state growth is 2.5%. \n7 Average headline CPI inflation was 2.95% between January 2025 and June 2025. It was 3.5% in \nJuly, 3.3% in August and 3.4% in September. \n8 The implied starting point for the forecast is 17.21, for 2025Q4; the assumption for that quarter as of \nthe September MPC was 17.61. The 2026Q1 projection is 17.25. \n9 The oil price assumption has been lowered to US$63.10 per barrel for 2025Q4 and US$67 per \nbarrel subsequently. The September MPC had US$67 for 2025Q4 and US$70 subsequently. Fuel \ninflation for 2025 drops from -5.5% to -5.9%; for 2026 it slows from 3.8% to 2.2%. \n10 Annual inflation for 2025 has been revised from 3.4% to 3.3%, and 2026 from 3.6% to 3.5%. \nInflation for 2027 is unchanged at 3.1%. \n \n3\nFor inflation expectations, we do not have an update from our usual survey this \nmeeting, but market rates and surveys of analysts both show further progress \ntowards the 3% objective.11 Core goods prices are benefitting from exchange rate \nstrength. Food price inflation seems to have peaked, although we have a small \nupward revision to this forecast, mainly from beef prices. Services inflation is \nunchanged from the last meeting: the announced medical aid increases are lower \nthan last year’s;12 at the same time, housing inflation has accelerated, which \nwarrants ongoing scrutiny. \nWe assess the risks to the inflation outlook as balanced. \nAgainst this backdrop, the MPC decided to reduce the policy rate by 25 basis points, \nto 6.75%, with effect from 21 November. The decision was unanimous. Members \nagreed there was scope now to make the policy stance less restrictive, in the context \nof an improved inflation outlook. \nThe Quarterly Projection Model continues to forecast gradual rate cuts as inflation \nsubsides. As before, this rate path remains a broad policy guide. Our decisions will \ncontinue to be taken on a meeting-by-meeting basis, with careful attention to the \noutlook, data outcomes, and the balance of risks to the forecast. \nFor this meeting, we considered two risk scenarios. \nThe first scenario featured a US dollar rebound, recognising that while the rand has \nappreciated this year, this partly reflects broad dollar weakness, not just rand \nstrength.13 In this scenario, the rand depreciates back to its 2023 levels against the \ndollar, rather than holding on to its recent gains, as in our baseline.14 \n \n11 Since the September MPC, breakeven rates have declined across the curve. As of the start of this \nMPC week, the 5-year measure was down by the smallest margin (2bps). The 10-year was down by \n22bps; the 15-year by 51bps, and the 20-year by 59bps. In the latest Reuters poll, analysts have \ninflation at 3.6% for 2026 (versus 3.8% previously) and 3.4% for 2027 (versus 3.5% previously). \n12 The average of the published increases announced by the various medical aid schemes, for 2026, \nis 8.1%. \n13 For instance, while the rand has appreciated by about 9% against the US dollar so far this year, it \nhas depreciated by around 2% against the euro. \n14 In this scenario, the local currency weakens to about R19 per US dollar over the forecast period. In \nthe baseline, the rand is stable close to R17 per US dollar. \n \n4\nThe second scenario was based on higher administered prices, linked to a rapid \ncorrection of the R54 billion electricity pricing error disclosed a few months back.15 \nThe scenario also had inflation expectations staying higher for longer, in response. \nBoth scenarios featured tighter monetary policy, with rates coming down more slowly \ncompared to the baseline.16 The administered price scenario in particular shows that \nif price setters take on board the 3% target, we will have space to get to lower rates \nfaster. \nThis brings us to the subject of the new target. As announced last week, we have \nmoved away from the 3-6% target range, which was established 25 years ago. The \nrevised target, agreed between the Minister of Finance and myself as the Governor \nof the South African Reserve Bank, is 3% plus or minus 1 percentage point. \nAs we move from a range target to a point target with a tolerance band, it is \nimportant to understand what the new target means. \nThe tolerance band, of 1 percentage point either side of 3%, does not mean we will \nbe indifferent to inflation anywhere between 2% and 4%. We want to be at 3%. \nHowever, no central bank has the tools to deliver inflation at an exact point all the \ntime. As flexible inflation targeters, we also recognise that trying to offset all price \nshocks would create undesirable volatility in output. \nTo support communication and accountability, we therefore want it understood that \ninflation will not always be precisely 3%. \nWhen there are deviations, we will explain what has driven inflation away from \ntarget, and we will do what is required to get back to target. \n \n15 The scenario had admin. price inflation of 5.0% in 2026, 5.1% in 2027 and 4.0% in 2028 (baseline: \n4.5% for 2026, 4.3% for 2027 and 3.9% for 2028), with electricity inflation at 10.6% in 2026, 9.5% in \n2027 and 6.7% in 2028 (baseline: 9.1%, 7.9% and 6.9%, respectively). The scenario assumed the \nNERSA correction was frontloaded, which is why 2028 inflation is not higher. \n16 In the dollar scenario, inflation is 3.6% in 2026, 3.4% in 2027 and 3.4% in 2028. In the admin. price \nscenario, inflation is 3.6%, 3.5% and 3.2% in those three years, respectively. The corresponding \ninflation projections in the baseline are 3.5%, 3.1% and 3.0%, respectively. In the admin. price \nscenario, the divergence is largest in mid-2027, when the policy rate is 6.44% (2027Q2) and 6.41% \n(2027Q3), versus a baseline policy rate of 6.05% and 6.03% for those two quarters, respectively. For \nthe dollar scenario, the divergence is largest in 2028Q1, when the policy rate is at 6.58%, versus a \nbaseline rate of 5.97%. \n \n5\nMost of the time, we should be expected to keep inflation within the tolerance band, \nwith breaches occurring only when there are severe shocks. We will always be \nsetting policy so that inflation is going back to 3%. \nMonetary policy actions have their main effects on prices after 12 to 24 months, so \nyou should expect us to achieve our target over that horizon. Accordingly, we want \nlonger-run expectations to anchor at 3%, staying there even when there are shocks. \nThis lag, between monetary policy decisions and outcomes, also explains why the \n3% target is taking effect now, but will be achieved over the forecast period. \nThe MPC has long emphasised the need for macroeconomic and structural reforms \nto boost potential growth, achieve a sustainable debt path, and shift to a low-inflation \nregime. There has been significant progress on reform this year, as underscored by \nthe recent credit rating upgrade from Standard & Poor’s, as well as South Africa’s \nexit from the Financial Action Task Force grey list. The global environment \nnonetheless remains challenging, so it is urgent to sustain domestic reform efforts. \nThank you. \nLesetja Kganyago \nGOVERNOR \n \nThe dates for the 2026 MPC decisions are as follows: \n29 January \n26 March \n28 May \n23 July \n23 September \n19 November \n \nContact person: \nThoraya Pandy \n082.416.8416 \nmedia@resbank.co.za", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/nov25-statement.pdf"}

dedup/cb_requests/09206774319336631bc476f524119e4f.json

@@ -0,0 +1 @@
+{"doc_id": "09206774319336631bc476f524119e4f", "text": "MONTHLY ECONOMIC REVIEW \nJUNE 2013 \nSelected Economic Indicators \n2 \nGlobal Economic Developments \n3 \nMonetary Developments \n5 \nInflation \n6 \nNational Payments System \n7 \nStatistical Tables \n9 \nStock Market Developments \n3 \nINSIDE THIS ISSUE: \n \nPAGE \nSELECTED ECONOMIC INDICATORS \n2 \n \n2013 \nMay \n2013 \nJune \nZ.S.E. Mining Index1 \n73.99 \n73.29 \nZ.S.E. Industrial Index1 \n212.72 \n211.19 \nMoney Supply (Total Bank Deposits) (US$)2 \n4.02 billion \n3.84 billion \nMoney Supply (M3) Annual Growth2 \n12.23% \n6.91% \nYearly Inflation3 \n2.20% \n1.86% \nSources: \n1 Zimbabwe Stock Exchange \n2 Reserve Bank of Zimbabwe \n3 ZIMSTAT \n \n \n \nMonth on \nMonth \nChange \n-0.95% \n-0.72% \n-4.48% \n-5.32% \n-0.34% \n \nGLOBAL ECONOMIC DEVELOPMENTS \n \nGlobal economic activity is projected to slowly \ngain momentum in the second half of 2013, \nthough growth will continue to be below \npotential. Several key risks and uncertainties \nremain and, if not mitigated, could dampen \nglobal economic growth prospects. These \ninclude short-term risks stemming from the \neuro area crisis, fiscal adjustment in the United \nStates and deceleration of economic activity in \nemerging economies. \n \nAlthough several new policy initiatives in \nmajor developed economies have reduced \nsystemic risks and helped stabilize consumer, \nbusiness and investor confidence, the impact on \ngrowth has remained negligible. As such, \nenhanced international policy coordination is \nneeded to mitigate negative policy spillovers \nand foster robust and balanced growth. \n \nIn the euro area, the risk of a near-term \nbreak-up has declined considerably, but the \neconomic situation remains fragile. Economic \nactivity in the euro area will be held back by \nausterity measures, weak bank lending and \ncontinued \nuncertainty. \nIn \nconsequence, \neconomic growth in the Euro-area is projected \nto contract by 0.4% in 2013. \n \nThis, notwithstanding, the outlook on Africa is \noptimistic, with least developed countries \n(LDCs) projected to realize faster growth in \n2013 than in the past two years. Nonetheless, \nwith commodity demand moderating and \nOfficial Development Assistance (ODA) \nfalling, the pace of expansion in LDCs will \nstill be slower compared to the pre-crisis \nperiod. \n \nThe \nmoderation \nof \ncommodity \nprices \ncontinues \nto \nnegatively \nimpact \non \ncommodity dependent countries such as \nZimbabwe. In consequence the balance of \npayments position remains precarious on \naccount of sluggish export recovery. This \nnegative development continues to deplete \nforeign exchange reserves, with a dampening \neffect on the country’s deposit base. \n \n \nSTOCK MARKET DEVELOPMENTS \n \nNotwithstanding the uncertainty over the \nperiod leading to the elections, the market \nsaw an increase in the demand for stocks \nwhose earnings are not significantly affected \nby fluctuations in business cycles, such as \nDelta, OK Zimbabwe and Innscor, during \nthe month of June 2013. This has resulted in \nthese counters’ valuations increasing to \nbeyond the trading reach of smaller \ninvestors. \n \nReflecting this development, there was a \n57% increase in volume traded, from 142.8 \nmillion shares in May 2013 to 224.1 million \nshares at the close of June 2013. The value \n \n2 3 \n \n2 4 \nof shares traded also registered a growth of \n15.6%, from US$35.2 million in May \ncompared to US$46.6 million in June 2013. \nTrading was largely sustained by foreign \ninvestors, whose purchases recorded a 33.5% \nincrease, to US$23.1 million in June 2013, \ncompared to US$17.3 million in May. This \nincrease in activity was a result of portfolio \nreadjustments, as fund managers factored in \nto-date basis, the industrial index has, \nhowever, gained an impressive 39.6%, \nlargely sustained by the demand for \nblue-chip counters. The mining index, \ndogged by challenges in the mining sector, \nwhich include high operating costs and \ntheir forecasts on the post-election economic \nenvironment. \n \nNotwithstanding the heightened trading \nactivity, the industrial index fell marginally \nby 0.6% to 211.19 points in June 2013, \ncompared to the previous month. On a year-\nmoderation of international metal prices, \ndeclined by 0.9% between May and June \n2013 to close the month under review at \n73.29 points. \n \nIn tandem with the developments in the \nindustrial index, total market capitalization \nregistered a 0.6% decline to US$5.4 billion. \nOn \na \nyear-to-date \nbasis, \nmarket \ncapitalization, however, rose by 38.1%. \n \n \n3 5 \nMONETARY DEVELOPMENTS \n \nMonetary \ndevelopments \nmirrored \nthe \nslowdown in economic activity. The overall \nstock of money supply registered a 4.5% \ndecline between May and June 2013. Broad \nmoney was recorded at US$3 838.2 million \nin June 2013, from US$4 018.1 million in \nthe previous month. Annual growth in broad \nmoney also decelerated to 6.91%, from \n12.23% in the previous month. \nwhilst deposits with a maturity less than 30 \ndays declined by US$21.83 million. Savings \ndeposits, however, registered expansion of \nUS$8.46 million. \n \nFollowing these developments in deposits, \nannual growth in domestic credit declined to \n22%, compared to 23.1% in the previous \nmonth. On a month-on-month basis, however, \ngrowth in domestic credit remained somewhat \nstable at 1.7% in June 2013, compared to \n1.6% in May 2013. \n \nCredit to the private sector continued to be \ndriven by loans and advances, which were \npartly sustained by offshore lines of credit, as \nlocal sources of liquidity continued to \nunderperform. Lending to the private sector \nby banks increased to US$3 666.23 million in \nJune 2013, from US$3 063.68 million in May \n2013. \nThe \ndecline \nin \nbroad \nmoney \nwas \nunderpinned by outflows in most deposit \nclasses, with deposits of a maturity greater \nthan 30 days recording the highest monthly \ndecline of US$179.93 million during the \nperiod under review. Further worsening the \nliquidity situation in the country, demand \ndeposits also fell by US$56.01 million, \n3.1 \n3.2 \n3.3 \n3.4 \n3.5 \n3.6 \n3.7 \n3.8 \n3.9 \n4.0 \n4.1 \n0\n5\n10\n15\n20\n25\n30\n35\nApr\nMay\nJun\nJul\nAug\nSep\nOct\nNov\nDec\nJan\nFeb\nMar\nApr\nMay\nJun\nUS$ Billions\n%\nMoney Supply\nM3\nM3 Annual Growth\n4 \n \n6 \nPartly reflecting the growth of loans and \nadvances in excess of the pace of deposit \naccumulation, the loan to deposit ratio rose to \n95.5% in June 2013, compared to 89.47% in \nMay 2013. \n \nAdvances to the private sector were mainly in \nthe form of loans and advances, 84.36%; \nmortgages advanced by building societies, \n8.57%; bankers’ acceptances, 1.52%; bills \ndiscounted, 3.61%; and other investments, \n1.94%. \n \nCredit to the private sector was mainly to \nagriculture (18.30%), distribution (16.07%) \nand \nmanufacturing \n(17.29%) \nactivities. \nIndividuals received 18.42% of total loans \nand advances. \nMining and construction industries received \n6.71% and 1.78% share of the cumulative \nloans and advance, respectively. \n \nThe loans and advances were mainly utilised \nto \nmeet \nshort \nterm \nworking \ncapital \nrequirements, restocking and raw material \nprocurement, as well as to finance consumer \ndurables. \n \n \nINFLATION DEVELOPMENTS \n \nAnnual Inflation \n \nAnnual headline inflation declined for the \nfourth consecutive month, easing from \n2.20% in May 2013 to 1.86% in June 2013. \nThe decline was largely attributed to declines \nin both food and non food inflation. \nThe easing-off of food inflation pressures \nwas largely attributed to improved local food \nsupply, arising from the ongoing harvesting \nseason. \nThe continued weakening of the rand against \nthe US dollar further dissipated inflationary \npressures, as the landed price of food imports \nfrom South Africa continues to fall. \nAnnual food and non-alcoholic beverages \ninflation declined, from 3.54% in May 2013 \nto 2.9% in June 2013. Similarly, nonfood \ninflation declined from 1.54% in May 2013 \nto 1.35% in June 2013. \n7 \nInflation Outlook \nIn the outlook period, inflation is expected to \nremain stable, largely dependent on the \nmovement \nof \ninternational \noil \nprices, \nUS$/rand exchange rate developments, as \nwell as the level of aggregate demand in the \ndomestic economy. \n \nNATIONAL \nPAYMENTS \nSYSTEM \nDEVELOPMENTS \n \n \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \n \nThe value of transactions processed through \nthe RTGS system in June 2013 decreased by \n9.48% to US$3.54 billion, from US$3.92 \nbillion in May 2013. On the other hand, the \nvolume of transactions registered a decline of \n14%, from 215 199 to 185 802 during the \nsame period. \n \nCard Systems \n \n \nThe total value of card based transactions \nfell by 10.28%, from US$332.60 million in \nMay to US$298.40 million in June 2013. \nMobile and Internet Based Transactions \n \nThe value of mobile and internet based \ntransactions also declined by 26.73%, from \nMonth-on-Month Inflation \n \nMonth-on-month \ninflation \ngained \n0.08 \npercentage points to -0.13% in June, from \n-0.21% in May 2013. \nMonthly food prices declined by 0.33% in \nJune 2013, compared to a decline of 0.28% \nin May 2013. This was underpinned by \ndeclines in prices of vegetables, 0.08%; milk, \ncheese and eggs, 0.02%; and fruits, 0.01%. \nMonthly nonfood prices also fell by 0.03% in \nJune, compared to a decline of 0.17% in May \n2013. \n8 \nUS$364 million in May to US$266.70 \nmillion in June 2013. \nCheques \n \nIn \nvalue \nterms, \ncheque \ntransactions \ndecreased by 26.73%, from US$15.40 \nmillion in May 2013 to US$5.90 million in \nJune 2013. \n \n \n \n \n \n \n \nReserve Bank of Zimbabwe \nJuly 2013 \n9 \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n1. Monetary Statistics \n \n \n1.1 Monetary Aggregates \n \n \n \n \n \n11 \n \n1.2 Broad Money Survey \n \n \n \n \n \n12 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n13 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n14 \n \n \n2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 15 \n \n2.2 Sectoral Analysis of Merchant Banks Loans and Advances \n16 \n \n2.3 Sectoral Analysis of Merchant Acceptances \n \n \n17 \n \n2.4 Sectoral Analysis of Commercial Banks Deposits \n \n18 \n \n2.5 Sectoral Analysis of Merchant Banks Deposits \n \n19 \n \n3. External Statistics \n \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n20 \n \n4. Interest Rates \n \n \n4.1 Lending Rates \n \n \n \n \n \n \n21 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n22 \n \n5. Inflation \n \n \n5.1 Monthly Inflation \n \n \n \n \n \n23 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n24 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n25 \n \n \n \n \n \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n7. Commercial Banks \n \n \n7.1 Assets \n \n \n \n \n \n \n \n26 \n \n7.2 Liabilities \n \n \n \n \n \n \n27 \n \n8. Accepting Houses \n \n \n8.1 Assets \n \n \n \n \n \n \n \n28 \n \n8.2 Liabilities \n \n \n \n \n \n \n29 \n \n 9. Building Societies \n \n \n9.1 Assets \n \n \n \n \n \n \n \n30 \n \n9.2 Liabilities \n \n \n \n \n \n \n31 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n32 \n \n11. Savings with Financial Institutions \n \n \n \n \n33 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n34 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n35 \n \n10 \n11 \nTABLE 1.1 : MONETARY AGGREGATES \n US$ Thousands \n \n2012 \n2013 \n \nJune \nJuly \nAugust \nSeptember \nOctober \nNovember \nDecember \nJanuary \nFebruary \nMarch \nApril \nMay \nJune \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nRBZ Demand Deposits \n79.7 \n80.1 \n80.9 \n82.1 \n80.7 \n79.6 \n80.8 \n78.6 \n78.3 \n77.3 \n 78.6 \n74.5 \n73.0 \nComm. Banks Dem. Deposits \n1,815,912.3 \n1,875,149.3 \n1,826,752.4 \n1,869,138.7 \n1,894,495.7 \n1,804,260.4 \n1,981,218.7 \n1,924,517.4 \n1,875,465.4 \n1,860,664.0 \n1,979,220.0 \n 1,932,968.10 \n 1,874,568.00 \nMerchant Banks Dem. Deposits \n136,052.5 \n110,779.0 \n106,955.1 \n102,471.0 \n112,805.6 \n105,260.2 \n108,094.7 \n106,935.2 \n102,797.7 \n104,281.4 \n107,324.1 \n \n112,173.40 \n 114,560.50 \nM1 \n1,952,044.5 \n1,986,008.4 \n1,933,788.4 \n1,971,691.8 \n2,017,382.0 \n1,909,600.2 \n2,089,394.2 \n2,031,531.2 \n1,978,341.4 \n1,965,022.7 \n2,086,622.6 \n2,045,215.9 \n 1,989,201.50 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nComm. Banks Savings Deposits \n160,170.3 \n162,953.0 \n171,279.3 \n189,287.9 \n182,029.0 \n288,914.0 \n253,471.9 \n193,007.6 \n192,683.5 \n201,459.2 \n194,873.4 \n \n221,622.3 \n 229,386.70 \nBuilding Soc. Savings Deposits \n171,972.6 \n168,562.6 \n171,825.0 \n176,983.1 \n164,699.0 \n163,276.1 \n180,152.6 \n159,093.7 \n168,605.4 \n168,484.1 \n170,975.7 \n \n192,634.8 \n 189,753.80 \nP O S B Savings Deposits \n50,001.8 \n51,631.2 \n51,322.2 \n51,747.0 \n50,457.0 \n55,822.7 \n54,893.7 \n55,832.5 \n56,274.2 \n57,860.7 \n55,236.9 \n \n56,544.5 \n 60,117.80 \nComm. Banks U-30 Day Deposits \n706,497.8 \n668,743.8 \n716,241.3 \n648,981.9 \n781,995.1 \n593,873.6 \n613,008.0 \n632,215.7 \n708,500.6 \n734,849.5 \n786,076.0 \n \n637,041.1 \n 629,544.60 \nMerchant Banks U-30 Day Deposits \n91,241.5 \n36,431.8 \n39,907.3 \n60,358.5 \n35,887.6 \n69,265.1 \n67,930.5 \n91,671.2 \n65,975.9 \n62,324.3 \n64,604.1 \n \n67,104.2 \n 56,223.10 \nBuilding Soc. U- 30 Day Deposits \n70,088.7 \n53,684.5 \n59,216.0 \n70,300.4 \n98,536.7 \n73,514.3 \n65,572.4 \n60,885.9 \n77,091.9 \n82,098.1 \n81,944.39 \n \n122,672.1 \n 119,217.40 \nM2 \n3,202,017.2 \n3,128,015.2 \n3,143,579.4 \n3,169,350.6 \n3,320,987.1 \n3,154,266.0 \n3,324,423.3 \n3,224,237.8 \n3,247,472.9 \n3,272,098.6 \n3,440,333.1 \n3,342,834.9 \n 3,273,444.80 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nComm. Banks O-30 Day Deposits \n228,931.5 \n327,819.8 \n192,982.4 \n311,167.7 \n235,566.9 \n424,351.9 \n314,380.7 \n351,356.6 \n297,613.9 \n249,558.5 \n223,799.1 \n \n387,930.6 \n 268,082.10 \nMerchant Banks O-30 Day Deposits \n31,257.6 \n65,758.0 \n64,463.7 \n56,445.3 \n60,561...8 \n46,439.3 \n44,191.4 \n21,339.0 \n55,714.0 \n52,841.7 \n56,349.4 \n \n54,361.5 \n 52,329.50 \nBuilding Soc. O- 30 Day Deposits \n109,663.7 \n156,055.2 \n170,113.2 \n172,761.3 \n165,382.5 \n179,493.1 \n184,561.2 \n192,823.3 \n194,226.7 \n203,912.9 \n226,550.8 \n \n212,044.5 \n 222,591.80 \nBuilding Soc. Class C Deposits \n0.0 \n0.0 \n0.0 \n \n \n \n \n \n \n0.0 \n0.0 \n0.0 \n \nBuilding Soc. Other Share Deposits \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n11,266.6 \n11,266.6 \n \n11,266.5 \n 11,266.60 \nP O S B Time Deposits \n8,259.1 \n9,770.5 \n8,018.0 \n8,316.8 \n11,324.0 \n9,964.9 \n8,973.9 \n8,497.2 \n8,447.9 \n8,845.8 \n8,443.5 \n \n9,703.5 \n 10,492.40 \nM3 \n3,590,270.7 \n3,697,560.4 \n3,589,298.3 \n3,728,183.4 \n3,813,963.8 \n3,824,656.8 \n3,886,672.1 \n3,808,395.5 \n3,813,616.9 \n3,798,524.1 \n3,966,742.5 \n \n4,018,141.5 \n 3,838,207.30 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n12 \nTABLE 1.2 : BROAD MONEY SURVEY \n US$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJUNE \nJULY \nAUGUST \nSEPTEMBER \nOCTOBER \nNOVEMBER \nDECEMBER \nJANUARY \nFEBRUARY \nMARCH \nAPRIL \nMAY \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET FOREIGN ASSETS \n-375,252.50 \n-366,349.80 \n-459,138.70 \n-447,672.70 \n-417,840.40 \n-340,899.70 \n-435,528.80 \n-485,643.40 \n-478,669.10 \n-627,094.50 \n-477,210.6 \n-488,616.3 \n \n Assets \n1,008,028.90 \n1,010,995.60 \n918,272.00 \n952,305.80 \n964,367.00 \n1,063,411.00 \n1,089,808.50 \n994,812.70 \n988,575.61 \n867,399.60 \n983,189.5 \n1,065,690.2 \n \n Reserve Bank (RBZ) \n439,248.40 \n443,530.60 \n392,913.30 \n431,019.90 \n402,814.90 \n385,911.70 \n447,988.80 \n454,346.10 \n421,879.25 \n367,092.80 \n412,155.0 \n471,664.8 \n \n Deposit Money Banks (DMBs) \n547,519.30 \n543,103.30 \n497,720.10 \n490,916.00 \n527,291.20 \n635,377.30 \n599,274.60 \n507,151.40 \n529,296.47 \n469,834.90 \n537,446.4 \n547,557.0 \n \n Other Banking Institutions \n(OBIs) \\1 \n21,261.20 \n24,361.70 \n27,638.60 \n30,369.90 \n34,260.90 \n42,122.10 \n42,545.10 \n33,315.20 \n37,399.89 \n30,471.90 \n33,588.1 \n46,468.4 \n \n Liabilities \\2 \n-1,383,281.50 \n-1,377,345.40 \n-1,377,410.80 \n-1,399,978.50 \n-1,382,207.30 \n-1,404,310.70 \n-1,525,337.30 \n-1,480,456.00 \n-1,467,244.71 \n-1,494,494.10 \n-1,460,400.2 \n-1,554,306.5 \n \n RBZ \n1,145,150.60 \n1,142,322.10 \n1,144,176.70 \n1,149,650.90 \n1,147,233.00 \n1,147,319.70 \n1,149,161.20 \n1,149,023.60 \n1,141,623.47 \n1,135,073.40 \n1,140,521.7 \n1,134,105.5 \n \n DMBs \n216,314.50 \n217,204.30 \n216,220.20 \n233,273.50 \n211,042.10 \n233,317.40 \n352,118.40 \n311,214.10 \n303,476.08 \n337,091.10 \n293,394.4 \n393,575.8 \n \n OBIs \n21,816.30 \n17,818.90 \n17,013.80 \n17,054.10 \n23,932.20 \n23,673.70 \n24,057.80 \n20,218.40 \n22,145.17 \n22,329.60 \n26,484.0 \n26,625.2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET DOMESTIC ASSETS \n3,965,523.20 \n4,063,910.10 \n4,048,437.10 \n4,175,856.10 \n4,231,804.20 \n4,165,556.50 \n4,322,201.00 \n4,294,038.70 \n4,292,286.03 \n4,425,618.60 \n4,443,953.2 \n4,506,758.0 \n \nDOMESTIC CREDIT \n3,227,332.40 \n3,362,641.70 \n3,396,416.20 \n3,469,968.40 \n3,502,649.80 \n3,620,952.20 \n3,788,468.50 \n3,777,967.90 \n3,781,756.54 \n3,845,110.10 \n3,808,385.3 \n3,871,013.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Claims on Government (net) \n82,193.20 \n79,337.50 \n73,155.70 \n73,214.80 \n80,219.70 \n80,710.40 \n176,058.40 \n166,842.30 \n153,163.97 \n170,638.10 \n180,007.9 \n212,221.9 \n \n RBZ \n-2,106.20 \n-1,522.60 \n-1,502.40 \n-1,514.60 \n-11,344.70 \n-11,034.80 \n-11,097.80 \n-1,225.80 \n-1,192.38 \n-1,179.60 \n-1,180.8 \n-1,179.7 \n \n DMBs \n84,095.80 \n80,860.20 \n74,658.00 \n74,729.30 \n90,330.70 \n90,511.60 \n185,922.50 \n167,834.50 \n154,122.73 \n151,543.00 \n160,538.4 \n192,880.2 \n \n OBIs \n203.6 \n0 \n0 \n0 \n1,233.60 \n1,233.60 \n1,233.60 \n233.6 \n233.63 \n20,274.70 \n20,650.2 \n20,521.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Claims on Public Enterprises \n49,311.30 \n49,615.70 \n49,289.80 \n46,060.70 \n49,641.40 \n51,464.50 \n51,716.90 \n52,261.10 \n53,708.48 \n54,091.40 \n58,973.6 \n63,604.9 \n \n RBZ \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n \n DMBs \n49,311.30 \n49,615.70 \n49,289.80 \n46,060.70 \n49,641.40 \n51,464.50 \n51,716.90 \n52,261.10 \n53,708.48 \n54,091.40 \n58,973.6 \n63,604.9 \n \n Agri-PEs \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n \n \n Other \n49,311.30 \n49,615.70 \n49,289.80 \n46,060.70 \n49,641.40 \n51,464.50 \n51,716.90 \n52,261.10 \n53,708.48 \n3,620,380.60 \n58,973.6 \n63,604.9 \n \n OBIs \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Claims on Private Sector \n3,095,827.90 \n3,233,688.50 \n3,273,970.70 \n3,350,693.00 \n3,372,788.70 \n3,488,777.20 \n3,560,693.20 \n3,558,864.50 \n3,574,884.08 \n3,620,380.60 \n3,569,403.8 \n3,595,186.2 \n \n RBZ \n43,759.20 \n38,792.30 \n41,323.60 \n42,548.20 \n42,122.00 \n41,521.50 \n40,636.30 \n41,014.10 \n41,015.10 \n41,041.10 \n41,014.1 \n40,128.8 \n \n DMBs \n2,663,738.30 \n2,797,404.90 \n2,823,945.60 \n2,897,885.30 \n2,890,646.50 \n2,996,259.40 \n3,065,153.80 \n3,057,321.20 \n3,065,133.69 \n3,111,948.80 \n3,058,690.9 \n3,063,681.6 \n \n OBIs \n388,330.30 \n397,491.40 \n408,701.50 \n410,259.50 \n440,020.20 \n450,996.30 \n454,903.20 \n460,529.20 \n468,735.29 \n467,417.70 \n469,698.7 \n491,375.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOTHER ITEMS (NET) \n738,190.80 \n701,268.40 \n652,020.90 \n705,887.60 \n729,154.40 \n544,604.30 \n533,732.40 \n516,070.80 \n510,529.50 \n580,508.50 \n635,567.9 \n635,745.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nBROAD MONEY (M3) \n3,590,270.70 \n3,697,560.40 \n3,589,298.30 \n3,728,183.40 \n3,813,963.80 \n3,824,656.80 \n3,886,672.10 \n3,808,395.40 \n3,813,616.93 \n3,798,524.10 \n3,966,742.5 \n4,018,141.5 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJUNE \n \n-770,401.9 \n994,502.1 \n461,797.0 \n488,238.1 \n44,467.0 \n-1,764,904.0 \n1,138,062.0 \n600,126.4 \n26,715.6 \n \n4,608,609.2 \n3,936,046.1 \n \n206,189.6 \n-1,828.4 \n187,784.4 \n20,233.6 \n \n63,628.7 \n0.0 \n63,628.7 \n0.0 \n63,628.7 \n0.0 \n \n3,666,227.8 \n40,128.8 \n3,125,352.0 \n500,747.0 \n \n672,563.1 \n \n3,838,207.3 \n \n \n13 \nTABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3) \n US$ Thousands \n1. Finance houses, building societies and P. O. S. B. \n2. Sign reversal. \n3. Net Domestic Assets consist of domestic credit and other items net. \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJUNE \nJULY \nAUGUST \nSEPTEMBER \nOCTOBER \nNOVEMBER \nDECEMBER \nJANUARY \nFEBRUARY \nMARCH \nAPRIL \nMAY \nJUNE \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET FOREIGN ASSETS \n-3,155.70 \n8,902.80 \n-92,789.00 \n11,466.10 \n29,832.30 \n76,940.70 \n-94,629.10 \n-50,114.50 \n6,974.25 \n-148,425.4 \n149,883.9 \n-11,405.7 \n-281,785.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Assets \n-6,917.10 \n2,966.70 \n-92,723.60 \n34,033.80 \n12,061.10 \n99,044.00 \n26,397.50 \n-94,995.80 \n-6,237.07 \n-121,176.0 \n115,789.9 \n82,500.7 \n-71,188.1 \n Reserve Bank (RBZ) \n-17,146.10 \n4,282.20 \n-50,617.30 \n38,106.70 \n-28,205.00 \n-16,903.20 \n62,077.10 \n6,357.30 \n-32,466.80 \n-54,786.5 \n45,062.2 \n59,509.8 \n-9,867.8 \n Deposit Money Banks (DMBs) \n15,963.80 \n-4,416.00 \n-45,383.20 \n-6,804.10 \n36,375.10 \n108,086.10 \n-36,102.60 \n-92,123.20 \n22,145.09 \n-59,461.6 \n67,611.5 \n10,110.6 \n-59,318.9 \n Other Banking Institutions (OBIs) \\1 \n-5,734.70 \n3,100.50 \n3,276.90 \n2,731.30 \n3,891.00 \n7,861.20 \n423 \n-9,229.80 \n4,084.65 \n-6,928.0 \n3,116.2 \n12,880.3 \n-2,001.4 \n Liabilities \\2 \n3,761.40 \n5,936.10 \n-65.4 \n-22,567.70 \n17,771.10 \n-22,103.40 \n-121,026.60 \n44,881.30 \n13,211.32 \n-27,249.4 \n34,093.9 \n-93,906.3 \n-210,597.5 \n RBZ \n739.3 \n-2,828.50 \n1,854.60 \n5,474.20 \n-2,417.90 \n86.7 \n1,841.50 \n-137.6 \n-7,400.09 \n-6,550.1 \n5,448.4 \n-6,416.2 \n3,956.5 \n DMBs \n-4,632.70 \n889.8 \n-984.1 \n17,053.30 \n-22,231.40 \n22,275.20 \n118,801.00 \n-40,904.20 \n-7,738.03 \n33,615.1 \n-43,696.7 \n100,181.4 \n206,550.6 \n OBIs \n131.9 \n-3,997.50 \n-805.1 \n40.3 \n6,878.20 \n-258.6 \n384.1 \n-3,839.40 \n1,926.80 \n184.4 \n4,154.5 \n141.2 \n90.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET DOMESTIC ASSETS \\3 \n13,240.90 \n98,386.90 \n-15,473.10 \n127,419.00 \n55,948.10 \n-66,247.70 \n156,644.50 \n-28,162.20 \n-1,752.72 \n133,332.6 \n18,334.6 \n62,804.8 \n101,851.2 \nDOMESTIC CREDIT \n87,375.20 \n135,309.30 \n33,774.50 \n73,552.20 \n32,681.40 \n118,302.40 \n167,516.40 \n-10,500.60 \n3,788.59 \n63,353.6 \n-36,724.9 \n62,627.7 \n65,033.1 \n Claims on Government (net) \n3,657.00 \n-2,855.70 \n-6,181.90 \n59.1 \n7,004.90 \n490.8 \n95,348.00 \n-9,216.10 \n-13,678.34 \n17,474.1 \n9,369.8 \n32,214.0 \n-6,032.3 \n RBZ \n-373.2 \n583.5 \n20.3 \n-12.2 \n-9,830.10 \n309.9 \n-63 \n9,872.00 \n33.43 \n12.8 \n-1.2 \n1.1 \n-648.7 \n DMBs \n4,050.40 \n-3,235.60 \n-6,202.10 \n71.3 \n15,601.40 \n180.9 \n95,410.90 \n-18,088.00 \n-13,711.77 \n-2,579.8 \n8,995.5 \n32,341.8 \n-5,095.8 \n OBIs \n-20.2 \n-203.6 \n0 \n0 \n1,233.60 \n0 \n0 \n-1,000.00 \n0.0 \n20,041.1 \n375.5 \n-128.8 \n-287.8 \n Claims on Public Enterpris \n17,518.80 \n304.3 \n-325.8 \n-3,229.10 \n3,580.70 \n1,823.10 \n252.4 \n544.3 \n1,447.33 \n382.9 \n4,882.2 \n4,631.3 \n23.8 \n RBZ \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n0.0 \n0.0 \n0.0 \n DMBs \n17,518.80 \n304.3 \n-325.8 \n-3,229.10 \n3,580.70 \n18231 \n252.4 \n544.3 \n1,447.33 \n382.9 \n4,882.2 \n4,631.3 \n23.8 \n Agri-PEs \n0 \n0 \n-4,771.80 \n-4,772.80 \n-4,773.80 \n-4,774.80 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n-5,259.3 \n Other \n17,518.80 \n304.3 \n4,446.00 \n1,543.70 \n8,354.50 \n6,597.90 \n252.4 \n544.3 \n1,447.33 \n382.9 \n4,882.2 \n4,631.3 \n5,283.1 \n OBIs \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n0.0 \n0.0 \n0.0 \n Claims on Private Sector \n66,199.40 \n137,860.60 \n40,282.20 \n76,722.30 \n22,095.70 \n115,988.50 \n71,916.00 \n-1,828.70 \n16,019.59 \n45,496.5 \n-50,976.8 \n25,782.4 \n71,041.6 \n RBZ \n-3,417.50 \n-4,967.00 \n2,531.30 \n1,224.60 \n-426.2 \n-600.5 \n-885.3 \n377.8 \n1.0 \n-1.0 \n0.0 \n-885.3 \n0.0 \n DMBs \n41,573.10 \n133,666.60 \n26,540.70 \n73,939.70 \n-7,238.70 \n105,612.90 \n68,894.30 \n-7,832.60 \n7,812.52 \n46,815.1 \n-53,257.8 \n4,990.7 \n61,670.4 \n OBIs \n28,043.80 \n9,161.00 \n11,210.10 \n1,558.00 \n29,760.70 \n10,976.10 \n3,906.90 \n5,626.00 \n8,206.07 \n-1,317.5 \n2,281.0 \n21,677.1 \n9,371.2 \nOTHER ITEMS (NET) \n-74,134.30 \n-36,922.40 \n-49,247.60 \n53,866.80 \n23,266.70 \n-184,550.10 \n-10,871.90 \n-17,661.60 \n-5,541.30 \n69,979.0 \n55,059.4 \n177.1 \n36,818.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nBROAD MONEY (M3) \n10,085.30 \n107,289.70 \n-108,262.00 \n138,885.10 \n85,780.40 \n10,692.90 \n62,015.40 \n-78,276.70 \n5,221.54 \n-15,092.8 \n168,218.4 \n51,399.0 \n-179,934.2 \nGROWTH RATES \n \n \n \n \n \n \n \n \n \n \n \n \n \n Broad Money (M3) \n0.30% \n3.00% \n-2.90% \n3.90% \n2.30% \n0.30% \n1.60% \n-2.00% \n0.14% \n-0.4% \n4.4% \n1.3% \n-4.5% \n Domestic Credit \n2.80% \n4.20% \n1.00% \n2.20% \n0.90% \n3.40% \n4.60% \n-0.30% \n0.10% \n1.7% \n-1.0% \n1.6% \n1.7% \n Claims on Private Sector \n2.20% \n4.50% \n1.20% \n2.30% \n0.70% \n3.40% \n2.10% \n-0.10% \n0.45% \n1.3% \n-1.4% \n0.7% \n2.0% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nMAY \nJUNE \nJULY \nAUGUST \nSEPTEMBER \nOCTOBER \nNOVEMBER \nDECEMBER \nJANUARY \nFEBRUARY \nMARCH \nAPRIL \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET FOREIGN ASSETS \n-103,677.30 \n-202,674.90 \n-89,936.30 \n-190,761.00 \n-131,411.50 \n-100,210.80 \n-19,830.80 \n-139,041.90 \n-211,017.80 \n-408,762.52 \n-268,481.4 \n-146,235.3 \n Assets \n4,008.90 \n-129,754.20 \n-42,038.00 \n-142,367.40 \n-71,725.60 \n-81,928.20 \n36,818.40 \n33,821.10 \n-99,644.30 \n-321,764.74 \n-149,564.2 \n-66,182.3 \n Reserve Bank (RBZ) \n20,800.00 \n-95,804.20 \n-5,809.40 \n-77,953.30 \n-5,234.10 \n-34,371.40 \n-34,330.10 \n33,849.90 \n23,562.10 \n-129,087.95 \n-120,111.9 \n-97,956.8 \n Deposit Money Banks (DMBs) \n-41,001.10 \n-41,235.80 \n10,917.80 \n-76,767.00 \n-84,133.70 \n-68,113.20 \n53,083.10 \n-22,552.60 \n-134,496.90 \n-207,670.13 \n-38,404.5 \n23,160.4 \n Other Banking Institutions (OBIs) \n\\1 \n24,210.00 \n7,285.80 \n10,917.80 \n12,352.80 \n17,642.10 \n20,556.40 \n18,065.40 \n22,523.80 \n11,290.50 \n14,993.34 \n8,952.2 \n8,614.1 \n Liabilities \\2 \n-107,686.20 \n-72,920.70 \n-47,898.30 \n-48,393.50 \n-59,685.90 \n-18,282.60 \n-56,649.10 \n-172,863.00 \n-111,373.40 \n-86,997.79 \n-118,917.3 \n-80,053.1 \n RBZ \n-22,208.00 \n-23,594.10 \n-28,246.40 \n-27,498.90 \n-21,730.40 \n-33,783.90 \n-20,811.30 \n-2,908.60 \n-9,155.50 \n-20,012.20 \n-23,389.5 \n-17,346.3 \n DMBs \n108,209.80 \n74,698.50 \n78,373.30 \n79,089.80 \n89,568.80 \n53,504.60 \n79,315.30 \n177,406.00 \n121,978.00 \n105,662.89 \n140,952.3 \n92,713.4 \n OBIs \n21,684.40 \n21,816.30 \n-2,228.60 \n-3,197.30 \n-8,152.60 \n-1,438.00 \n-1,854.90 \n-1,634.40 \n-1,449.10 \n1,347.09 \n1,354.5 \n4,686.0 \nNET DOMESTIC ASSETS \\3 \n950,213.50 \n893,222.20 \n880,494.10 \n827,621.50 \n830,303.80 \n860,964.80 \n755,911.50 \n925,312.70 \n874,388.80 \n844,811.73 \n628,387.0 \n659,222.6 \nDOMESTIC CREDIT \n892,017.10 \n842,025.30 \n864,860.40 \n822,357.30 \n802,510.00 \n795,755.70 \n873,159.50 \n990,341.70 \n986,989.40 \n963,317.91 \n842,942.1 \n786,202.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Claims on Government (net) \n80,446.20 \n84,027.80 \n81,808.40 \n75,191.50 \n74,845.90 \n82,122.60 \n82,338.10 \n177,893.20 \n168,720.90 \n154,919.99 \n81,055.3 \n91,424.1 \n DMBs \n80,045.40 \n84,095.80 \n80,860.20 \n74,658.00 \n74,729.30 \n90,330.70 \n90,511.60 \n185,922.50 \n167,834.50 \n154,123.73 \n60,198.4 \n70,439.5 \n OBIs \n223.8 \n203.6 \n0 \n0 \n0 \n1,233.60 \n1,233.60 \n1,233.60 \n233.6 \n233.625 \n20,274.7 \n20,446.7 \n Claims on Public Enterprises \n2,323.80 \n9,520.40 \n5,300.20 \n7,279.80 \n-3,179.60 \n49.8 \n9,427.10 \n6,792.40 \n7,557.90 \n9,664.95 \n24,274.7 \n27,528.6 \n RBZ \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n DMBs \n2,323.80 \n9,520.40 \n5,300.20 \n7,279.80 \n-3,179.60 \n49.8 \n9,427.10 \n6,792.40 \n7,557.90 \n9,664.95 \n24,122.0 \n27,528.6 \n Agri-PEs \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n-1.0 \n0.0 \n Other \n2,323.80 \n9,520.40 \n5,300.20 \n7,279.80 \n-3,179.60 \n49.8 \n9,427.10 \n6,793.40 \n7,557.90 \n9,665.95 \n24,123.0 \n27,528.6 \n OBIs \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n Claims on Private Sector \n809,247.00 \n748,477.10 \n777,751.70 \n739,886.00 \n730,843.70 \n713,583.30 \n781,394.30 \n805,656.00 \n810,710.60 \n798,732.97 \n737,764.8 \n667,250.2 \n RBZ \n10,864.80 \n3,313.70 \n665 \n1,765.10 \n-9,455.10 \n-9,387.20 \n-3,975.50 \n-3,903.10 \n-5,788.80 \n-7,388.11 \n-6,693.9 \n-3,088.9 \n DMBs \n654,211.80 \n584,559.50 \n616,003.90 \n597,497.20 \n617,287.40 \n574,157.10 \n654,515.10 \n687,696.60 \n691,818.10 \n687,296.33 \n627,797.4 \n545,532.3 \n OBIs \n144,170.40 \n160,603.90 \n161,082.90 \n140,623.70 \n123,011.40 \n148,813.50 \n130,854.70 \n121,862.50 \n124,681.30 \n118,824.75 \n116,661.3 \n124,806.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOTHER ITEMS (NET) \n58,196.40 \n51,196.90 \n15,633.70 \n5,264.20 \n27,793.80 \n65,209.10 \n-117,248.00 \n-65,029.00 \n-112,600.70 \n-118,506.18 \n-214,555.1 \n-126,980.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nBROAD MONEY (M3) \n846,536.20 \n690,547.40 \n790,557.90 \n636,860.50 \n698,892.30 \n760,753.90 \n736,080.70 \n786,270.80 \n663,371.00 \n436,049.20 \n359,905.6 \n512,987.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nGROWTH RATES \n \n \n \n \n \n \n \n \n \n \n \n \n Broad Money (M3) \n31.00% \n23.80% \n27.20% \n21.60% \n23.10% \n24.90% \n23.80% \n25.40% \n21.10% \n12.91% \n10.5% \n14.9% \n Domestic Credit \n39.70% \n35.30% \n34.60% \n31.90% \n30.10% \n29.40% \n31.80% \n35.40% \n35.40% \n34.18% \n28.1% \n26.0% \n Claims on Private Sector \n36.40% \n31.90% \n31.70% \n29.20% \n27.90% \n26.80% \n28.90% \n29.20% \n29.50% \n28.77% \n25.6% \n23.0% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nMAY \n \n \n-116,519.4 \n50,744.2 \n15,270.3 \n16,001.4 \n19,472.4 \n-167,263.6 \n-10,305.8 \n172,628.6 \n4,940.8 \n554,475.7 \n731,055.8 \n \n133,685.7 \n112,834.8 \n20,297.6 \n31,812.4 \n0.0 \n31,812.4 \n0.0 \n31,812.4 \n0.0 \n565,557.7 \n-7,047.9 \n441,516.4 \n131,089.3 \n \n-176,580.1 \n \n437,956.1 \n \n \n12.2% \n23.3% \n18.7% \n \n \n \n \n \nJUNE \n \n \n-395,149.4 \n-13,526.8 \n22,548.6 \n-59,281.2 \n23,205.8 \n-381,622.6 \n-7,088.6 \n383,811.9 \n4,899.3 \n643,086.0 \n708,713.7 \n \n123,996.4 \n103,688.6 \n20,030.1 \n14,317.4 \n0.0 \n14,317.4 \n-1.0 \n14,318.4 \n0.0 \n570,399.9 \n-3,630.4 \n461,613.7 \n112,416.6 \n \n-65,627.7 \n \n247,936.6 \n \n \n6.9% \n22.0% \n18.4% \n \n \nTABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3) \n \n \n \n \n$ Thousands \n \n \n \n \n14 \n15 \nTABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nCONSTRUCTION \nCOMMUNICA-\nTION \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL \nMANUFAC-\nTURING \nMINING \nSERVICES TRANSPORT \nINDIVIDUALS \nCONGLOMER-\nATES/1 \nTOTAL \nEND OF \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n363,990.9 \n39,589.6 \n27,332.8 \n322,510.1 \n8,749.9 \n74,636.2 \n336,196.7 \n77,655.7 \n198,437.3 \n52,515.7 \n171,956.3 \n1,013.2 \n1,674,584.5 \nFEBRUARY \n352,190.20 \n36,718.69 \n26,551.03 \n284,567.87 \n9,291.08 \n85,886.99 \n336,261.49 \n88,738.25 \n202,845.20 \n53,191.93 \n172,424.01 \n1,567.65 \n1,650,234.17 \nMARCH \n354,440.8 \n37,811.0 \n31,484.9 \n328,381.1 \n8,193.5 \n92,178.6 \n324,375.5 \n108,000.1 \n205,453.7 \n32,088.9 \n174,479.6 \n1,583.8 \n1,698,471.4 \nAPRIL \n341,893.5 \n30,462.0 \n33,633.8 \n358,038.0 \n5,558.5 \n78,498.4 \n334,699.5 \n110,765.7 \n220,956.5 \n26,181.8 \n179,845.8 \n1,355.3 \n1,721,888.8 \nMAY \n375,541.0 \n30,286.7 \n31,158.4 \n350,097.9 \n7,623.4 \n97,695.7 \n327,187.7 \n113,796.7 \n207,041.1 \n28,432.9 \n202,146.6 \n1,738.3 \n1,772,746.5 \nJUNE \n402,314.1 \n30,399.7 \n37,466.6 \n356,842.2 \n7,580.8 \n28,025.9 \n337,059.2 \n130,973.8 \n201,898.0 \n40,295.4 \n219,606.7 \n1,649.8 \n1,794,112.2 \nJULY \n416,536.2 \n26,795.9 \n36,424.2 \n369,410.8 \n8,174.0 \n26,119.1 \n348,484.2 \n136,934.2 \n203,314.6 \n36,869.5 \n249,542.8 \n3,382.6 \n1,861,988.0 \nAUGUST \n422,545.8 \n30,950.3 \n43,395.1 \n390,558.4 \n8,333.0 \n29,323.9 \n348,252.0 \n146,338.5 \n173,945.4 \n55,950.3 \n254,919.8 \n3,523.5 \n1,907,991.4 \nSEPTEMBER \n431,501.7 \n36,637.9 \n38,487.8 \n384,840.8 \n6,828.2 \n37,420.1 \n396,813.5 \n145,657.9 \n219,452.1 \n29,378.2 \n254,248.3 \n5,036.1 \n1,986,302.5 \nOCTOBER \n444,653.7 \n33,583.2 \n34,764.4 \n411,489.2 \n9,551.4 \n29,439.4 \n401,206.1 \n144,223.4 \n230,809.2 \n35,103.6 \n271,795.8 \n6,715.9 \n2,053,335.2 \nNOVEMBER \n444,527.3 \n33,548.0 \n37,207.3 \n428,008.3 \n10,704.6 \n32,236.2 \n417,838.2 \n142,715.0 \n228,088.4 \n36,568.0 \n267,282.0 \n8,055.2 \n2,087,778.7 \nDECEMBER \n444,341.0 \n32,622.8 \n37,353.2 \n428,782.2 \n8,513.2 \n31,513.9 \n414,044.9 \n148,927.9 \n233,864.4 \n33,116.1 \n288,628.5 \n9,370.9 \n2,111,078.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n450,170.0 \n31,073.4 \n38,762.3 \n426,050.9 \n11,967.9 \n31,547.4 \n417,961.3 \n144,645.1 \n237,323.7 \n33,906.5 \n300,841.1 \n9,373.1 \n2,133,622.7 \nFREBRUARY \n494,536.6 \n33,786.9 \n28,372.0 \n439,556.7 \n14,811.4 \n33,948.5 \n409,692.7 \n128,242.7 \n303,269.9 \n38,235.9 \n298,171.5 \n3,685.5 \n2,226,310.2 \nMARCH \n467,873.97 \n41,532.7 \n68,987.2 \n433,337.1 \n16,118.8 \n34,704.7 \n471,204.9 \n159,925.7 \n307,134.7 \n44,413.57 \n370,123.5 \n4,491.7 \n2,419,848.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAPRIL \n455,178.9 \n43,628.2 \n23,433.4 \n428,381.7 \n14,997.8 \n35,589.1 \n444,798.7 \n135,046.2 \n288,857.6 \n45,643.6 \n377,037.0 \n7,693.7 \n2,300,585.8 \nMAY \n484,635.0 \n38,637.2 \n27,795.2 \n455,737.9 \n14,699.1 \n35,106.1 \n465,890.2 \n115,457.8 \n301,547.9 \n52,075.2 \n382,172.8 \n5,034.0 \n2,378,788.7 \nJUNE \n489,730.1 \n37,474.3 \n38,198.7 \n425,521.3 \n7,310.7 \n53,815.0 \n454,368.5 \n110,349.9 \n295,432.3 \n51,453.6 \n385,769.7 \n11,033.4 \n2,360,457.5 \n1. These are large corporation with business operations covering across a number of sectors. \nTABLE 2.2 :SECTORAL ANALYSIS OF MERCHANT BANKS LOANS AND ADVANCES \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nCONSTRUCTION DISTRIBUTION \nFINANCIAL \nFINANCIAL \nMANUFACTUR-\nING \nMINING \nSERVICES TRANSPORT INDIVIDUALS CONGLOM-\nERATES \nTOTAL \nEND OF \n \n \n \nINVESTMENT ORGANISATIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAPRIL \n43,485.3 \n10,392.5 \n61,081.2 \n19,067.3 \n19,238.3 \n57,209.2 \n43,704.5 \n106,196.8 \n36,968.1 \n84,346.1 \n4,839.5 \n486,528.7 \nMAY \n78,656.9 \n13,181.3 \n27,476.1 \n12,928.2 \n22,947.0 \n62,231.5 \n79,196.3 \n74,699.3 \n47,191.6 \n115,625.4 \n8,319.3 \n542,453.4 \nJUNE \n99,949.6 \n12,989.0 \n55,552.6 \n15,544.8 \n22,884.4 \n64,832.4 \n58,599.9 \n91,171.3 \n33,744.2 \n125,204.9 \n7,515.8 \n587,988.8 \nJULY \n57,212.2 \n15,008.9 \n28,053.9 \n25,999.1 \n48,343.1 \n66,151.0 \n76,442.2 \n92,251.0 \n46,904.3 \n111,009.8 \n4,461.3 \n571,836.8 \nAUGUST \n49,200.5 \n14,198.6 \n38,216.6 \n26,733.6 \n27,.22.2 \n54,208.9 \n65,862.8 \n65,893.7 \n44,173.3 \n114,603.8 \n7,371.6 \n507,485.6 \nSEPTEMBER \n57,953.8 \n14,365.5 \n37,230.9 \n27,211.1 \n27,365.5 \n54,699.3 \n67,007.8 \n69,196.8 \n43,515.1 \n119,899.9 \n7,225.4 \n525,670.8 \nOCTOBER \n62,501.8 \n15,369.1 \n50,322.8 \n13,991.3 \n43,176.3 \n76,085.7 \n 84,137.4 \n74,481.1 \n36,442.3 \n 159,860.1 \n7,139.6 \n 623,507.5 \nNOVEMBER \n79,498.6 \n17,399.0 \n51,214.2 \n37,028.4 \n41,525.2 \n68,737.1 \n65,831.1 \n81,757.5 \n41,273.6 \n165,811.3 \n8,614.2 \n658,690.2 \nDECEMBER \n69,626.60 \n17,100.57 \n61,871.18 \n35,218.31 \n38,605.14 \n76,364.84 \n79,801.05 \n85,485.21 \n45,026.61 \n166,500.19 \n8,482.65 \n684,082.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n67,517.6 \n16,163.5 \n56,807.8 \n18,616.7 \n58,326.4 \n78,419.6 \n89,890.9 \n106,553.9 \n18,590.6 \n144,497.3 \n15,986.5 \n671,370.7 \nFEBRUARY \n58,292.9 \n21,826.4 \n56,104.4 \n18,101.2 \n62,883.5 \n78,714.5 \n89,292.0 \n117,785.5 \n17,680.2 \n128,827.9 \n9,967.9 \n668,578.1 \nMARCH \n69,856.5 \n16,673.4 \n60,104.1 \n16,684.4 \n58,510.5 \n72,517.4 \n97,158.1 \n88,814.4 \n14,831.7 \n173,486.3 \n17,657.4 \n686,294.1 \nAPRIL \n63,793.8 \n17,080.4 \n63,074.6 \n20,726.0 \n58,308.4 \n70,475.5 \n89,412.8 \n87,962.4 \n15,412.2 \n174,072.5 \n18,871.2 \n680,189.8 \nMAY \n67,425.0 \n17,232.4 \n66,358.3 \n21,534.7 \n59,449.7 \n72,998.8 \n89,738.5 \n84,961.5 \n15,028.8 \n189,089.0 \n18,888.7 \n702,705.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJUNE \n68,762.1 \n16,928.9 \n64,967.8 \n11,199.2 \n57,389.1 \n72,983.6 \n94,193.4 \n98,762.3 \n13,866.1 \n176,186.3 \n18,800.0 \n694,038.7 \n16 \n17 \nTABLE 2.3 :SECTORAL ANALYSIS OF MERCHANT BANKS ACCEPTANCES \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nDISTRIBUTION \nFINANCIAL \nFINANCIAL \nMANUFACTURING \nMINING \nSERVICES \nTRANSPORT \nINDIVIDUALS \nCONGLOMERATES \nTOTAL \nEND OF \n \n \nINVESTMENT ORGANISATIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n15,494.8 \n1,897.5 \n0.0 \n479,6 \n31,053.3 \n31,756.6 \n20,082.4 \n0.0 \n1,516.1 \n3,623.5 \n105,903.9 \n FEBRUARY \n 16,359.6 \n483.9 \n0.0 \n734.6 \n32,663.4 \n15,907.7 \n5,112.6 \n0.0 \n301.8 \n0.0 \n71,563.6 \nMARCH \n15,328.4 \n4,816.6 \n0.0 \n734.6 \n33,053.5 \n22,330.2 \n3,206.4 \n0.0 \n301.8 \n0.0 \n75,436.7 \nAPRIL \n7,793.4 \n831.6 \n0.0 \n180.6 \n19,825.5 \n23,032.0 \n12,462.5 \n102.0 \n189.3 \n0.0 \n69,482.2 \nMAY \n0.0 \n0.0 \n0.0 \n2,055.8 \n14,431.9 \n15,786.1 \n17,666.6 \n589.7 \n2,850.8 \n836.1 \n54,217..1 \nJUNE \n1,031.1 \n1,011.3 \n0.0 \n1,875.2 \n13,904.0 \n21,823.7 \n16,562.2 \n0.0 \n189.3 \n836.1 \n57,233.0 \nJULY \n125.6 \n0.0 \n0.0 \n0.0 \n7,054.0 \n19,331.9 \n14,121.2 \n1,533.9 \n0.0 \n0.0 \n42,166.6 \nAUGUST \n0.0 \n913.3 \n0.0 \n0.0 \n13,898.0 \n13,694.7 \n18,347.2 \n0.0 \n0.0 \n0.0 \n46,853.3 \nSEPTEMBER \n0.0 \n11,242.5 \n0.0 \n0.0 \n12,193.0 \n15,228.3 \n3,969.9 \n0.0 \n0.0 \n0.0 \n42,633.7 \nOCTOBER \n0.0 \n1,135.0 \n0.0 \n0.0 \n2,134.9 \n28,261.6 \n204.0 \n0.0 \n0.0 \n0.0 \n31,735.5 \nNOVEMBER \n8,373.2 \n3,045.0 \n11,889.0 \n0.0 \n0.0 \n0.0 \n0.0 \n0.0 \n11,190.4 \n0.0 \n34,497.7 \nDECEMBER \n6,559.3 \n1,430.0 \n14,889.0 \n0.0 \n0.0 \n0.0 \n0.0 \n0.0 \n11,190.4 \n70.0 \n34,138.7 \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n70.0 \n0.0 \n0.0 \n0.0 \n3,641.0 \n18,088.3 \n1,189.0 \n11,190.4 \n0.0 \n0.0 \n34,178.7 \nFEBRUARY \n100.0 \n0.0 \n0.0 \n0.0 \n8,000.0 \n14,889.0 \n1,569.0 \n0.0 \n0.0 \n0.0 \n24,558.3 \n \n \n \n \n \n \n \n \n \n \n \n \nMARCH \n70.0 \n0.0 \n0.0 \n0.0 \n7,860.0 \n0.0 \n154.0 \n0.0 \n15,400.0 \n0.0 \n23,484.0 \nAPRIL \n5,100.0 \n0.0 \n0.0 \n0.0 \n7,620.0 \n14,889.0 \n278.0 \n0.0 \n15,200.0 \n0.0 \n43,087.0 \nMAY \n5,100.0 \n0.0 \n0.0 \n0.0 \n7,500.0 \n6,330.8 \n2,109.4 \n0.0 \n1,000.0 \n0.0 \n22,040.2 \nJUNE \n5,100.0 \n0.0 \n0.0 \n0.0 \n5,760.0 \n0.0 \n212.0 \n0.0 \n15,210.0 \n0.0 \n26,282.0 \n18 \n TABLE 2.4 : SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nEND OF \nAGRICUL-\nTURE \nCONSTRUC-\nTION \nCOMMUNI-\nCATIONS \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL MANUFACTUR-\nING \nMINING \nSERVICES TRANSPORT \nINDIVIDUALS \nCONGLOMERATES \nTOTAL \n \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n137,919.4 \n35,324.8 \n106,812.5 \n296,807.8 \n116,945.8 \n277,304.7 \n268,525.2 \n119,278.5 \n515,754.9 \n21,989.9 \n431,208.6 \n14,582.8 \n2,342,454.9 \n FEBRUARY \n132,404.53 \n36,283.33 \n110,794.26 \n341,462.75 \n99,165.46 \n288,834.34 \n264,450.53 \n104,923.38 \n577,378.61 \n22,873.9 \n467,084.94 \n14,234.06 \n2,459,890.1 \nMARCH \n121,233.1 \n38,555.4 \n124,038.5 \n348,687.2 \n93,320.0 \n263’552.7 \n276,941.5 \n76,084.4 \n629,624.3 \n24,984.1 \n468,608.5 \n14,756.2 \n2,480,386.1 \nAPRIL \n127,168.8 \n39,606.6 \n115,033.7 \n331,306.5 \n83,707.8 \n289,829.1 \n276,208.7 \n75,855.9 \n644,979.8 \n24,822.5 \n465,129 \n14,829.3 \n2,488,477.6 \nMAY \n124,277.7 \n43,333.7 \n142,130.1 \n370,561.1 \n93,500.0 \n249,454.2 \n299,116.6 \n86,314.7 \n648,511.1 \n28,279.3 \n516,523.0 \n16,891.5 \n2,618,892.9 \nJUNE \n84,589.8 \n51,354.0 \n132,428.7 \n351,179.8 \n98,785.6 \n375,613.6 \n214,696.7 \n76,370.1 \n727,955.7 \n36,208.4 \n456,454.4 \n18,727.6 \n2,624,364.4 \nJULY \n106,470.8 \n47,401.0 \n131,489.0 \n345,036.3 \n70,487,9 \n397,969.7 \n213,370.5 \n89,915.4 \n726,447.6 \n46,000.4 \n505,054.1 \n29,735.3 \n2,709,378.0 \nAUGUST \n99,151.6 \n49,226.4 \n116,820.6 \n363,080.1 \n382,619.4 \n71,775.9 \n216,433.0 \n73,978.5 \n737,065.6 \n48,183.8 \n488,183.8 \n28,785.3 \n2,663,379.8 \nSEPTEMBER \n113,907.6 \n43,671.0 \n125,801.3 \n276,363.0 \n177,790.6 \n429,596.7 \n228,342.2 \n82,777.7 \n651,389.2 \n48,764.9 \n517,788.8 \n29,019.9 \n2,725,213.0 \nOCTOBER \n101,122.4 \n48,716.9 \n155,798.3 \n313,982.4 \n257,300.6 \n409,730.0 \n245,131.8 \n83,995.5 \n661,217.2 \n48,396.8 \n534,643.6 \n26,158.0 \n2,886,193.5 \nNOVEMBER \n104,695.1 \n53,233.8 \n151,359.5 \n348,390.4 \n185,802.5 \n464,782.4 \n269,513.8 \n85,906.9 \n962,840.9 \n47,647.2 \n548,847.7 \n23,130.6 \n3,246,150.7 \nDECEMBER \n96,098.4 \n50,492.7 \n126,343.5 \n379,068.0 \n198,323.3 \n509,241.6 \n280,975.4 \n95,457.1 \n582,286.2 \n41,852.2 \n538,135.2 \n26,491.3 \n2,924,764.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n91,648.8 \n48,329.1 \n128,426.0 \n351,566.7 \n212,401.7 \n494,823.6 \n252,389.7 \n93,470.0 \n658,260.1 \n44,091.4 \n512,289.8 \n32,145.9 \n2,919,842.6 \nFEBRUARY \n96,796.5 \n48,491.5 \n147,571.5 \n360,757.9 \n 147,995.9 \n 578,306.4 \n284,603.8 \n64,530.5 \n679,554.8 \n41,983.6 \n516,431.2 \n25,275.3 \n2,991.999.1 \nMARCH \n96,752.8 \n44,883.3 \n139,327.8 \n354,627.8 \n155,915.2 \n610,758.4 \n290,072.8 \n87,143.0 \n594,397.7 \n38,345.5 \n523,913.8 \n141,404.6 \n3,077,542.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAPRIL \n98,671.0 \n49,093.8 \n152,390.8 \n350,269.2 \n166,578.5 \n545,118.2 \n311,310.8 \n105,766.9 \n638,341.8 \n39,837.1 \n533,691.3 \n99,053.9 \n3,090,123.4 \nMAY \n114,053.3 \n55,427.4 \n142,023.3 \n389,384.7 \n255,352.1 \n484,429.7 \n318,129.4 \n92,777.2 \n700,668.7 \n46,593.8 \n578,509.2 \n32,297.7 \n3,209,646.5 \nJUNE \n116,635.2 \n58,578.8 \n147,313.8 \n447,394.5 \n183,146.3 \n352,600.3 \n366,824.2 \n96,685.8 \n701,195.7 \n46,578.5 \n597,373.1 \n104,843.6 \n3,219,169.8 \n19 \n TABLE 2.5 : SECTORAL ANALYSIS OF MERCHANT BANKS DEPOSITS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICUL-\nTURE \nCOMMUNICA-\nTIONS \nCONSTRUC-\nTION \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL MANUFACTUR-\nING \nMINING \nSERVICES \nTRANSPORT \nINDIVIDUALS \nCONGLOMER-\nATES \nTOTAL \nEND OF \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11,744.1 \n8,250.4 \n7.1 \n3,238.1 \n129,742.5 \n80,306.4 \n17,664.5 \n9,146.5 \n158,059.3 \n1,650.5 \n113,108.8 \n3,038.0 \n535,956.3 \nFEBRUARY \n14,684.8 \n5,815.5 \n6.8 \n23,523.2 \n131,181.2 \n95,143.4 \n21,911.4 \n22,184.5 \n131,968.5 \n1,350.6 \n149,680.8 \n3,038.0 \n600,488.7 \n MARCH \n 46,519.8 \n 5,039.7 \n1,662.6 \n4,119.3 \n127,903.5 \n 91,695.5 \n 17,886.8 \n 39,142.1 \n143,818.6 \n 4,669.7 \n 83,525.1 \n28,564.2 \n594,546.8 \nAPRIL \n24,233.2 \n8,046.5 \n1,868.8 \n27,036.4 \n121,160.1 \n109,064.2 \n36,456.3 \n30,240.9 \n151,505.2 \n4,892.5 \n75,547.7 \n29,200.4 \n619,252.1 \nMAY \n10,329.7 \n6,452.6 \n1,765.0 \n12,678.2 \n115,998.5 \n103,213.2 \n35,266.7 \n25,989.8 \n183,915.3 \n6,141.2 \n63,313.3 \n39,110.5 \n604,173.9 \nJUNE \n10,271.8 \n7,330.0 \n1,698.4 \n9,186.1 \n134,312.0 \n129,103.5 \n26,823.0 \n22,693.9 \n173,514.3 \n4,286.6 \n62,007.9 \n30,818.9 \n612,046.3 \nJULY \n4,473.9 \n5,298.2 \n270.1 \n27,217.9 \n132,809.8 \n98,744.9 \n30,365.9 \n21,415.7 \n217,331.4 \n2,077.4 \n57,143.0 \n33,601.7 \n630,749.9 \nAUGUST \n6,744.1 \n6,765.6 \n288.6 \n26,394.2 \n123,569.3 \n83,662.1 \n33,578.1 \n18,015.7 \n222,325.8 \n2,979.2 \n92,733.9 \n33,058.9 \n650,115.6 \nSEPTEMBER \n16,997.7 \n8,628.2 \n300.8 \n27,315.7 \n124,411.1 \n85,232.7 \n50,279.5 \n27,896.5 \n208,113.3 \n2,000.9 \n85,429.2 \n34,840.8 \n671,446.4 \nOCTOBER \n4,473.9 \n5,298.2 \n270.1 \n3,119.1 \n124,342.3 \n115,774.8 \n30,524.5 \n21,415.7 \n191,204.2 \n2,077.4 \n153,329.1 \n32,049.8 \n683,879.0 \nNOVEMBER \n12,872.8 \n10,868.0 \n13,414.5 \n1,649.6 \n174,107.7 \n60,405.7 \n18,484.7 \n35,828.3 \n188,441.9 \n4,251.7 \n203,879.7 \n27,745.0 \n751,949.6 \nDECEMBER \n12,164.3 \n5,900.3 \n14,197.9 \n3,080.8 \n173,009.4 \n60,501.2 \n17,631.4 \n137,537.4 \n198,977.5 \n2,664.8 \n79,504.3 \n32,534.7 \n737,703.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11,723.2 \n6,581.0 \n10,921.0 \n751.4 \n180,889.6 \n64,042.8 \n16,845.3 \n28,513.2 \n215,563.4 \n2,547.7 \n113,832.1 \n34,578.4 \n686,789.2 \nFEBRUARY \n10,020.1 \n7,034.4 \n11,383.1 \n1,419.4 \n196,108.5 \n51,751.6 \n16,973.1 \n28,365.1 \n187,610.2 \n6,432.7 \n70,211.6 \n34,798.8 \n622,108.3 \n MARCH \n58,914.7 \n8,588.1 \n7,605.8 \n1,590.7 \n142,308.7 \n90,728.3 \n28,015.0 \n25,273.9 \n185,705.5 \n1,965.0 \n164,230.8 \n29,295.2 \n744,221.5 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAPRIL \n31,659.0 \n5,702.7 \n18,835.7 \n1,538.1 \n177,040.5 \n97,838.1 \n22,611.8 \n28,606.2 \n187,727.7 \n3,883.5 \n139,589.7 \n31,245.5 \n746,278.5 \nMAY \n17,827.5 \n5,756.6 \n18,786.2 \n1,258.9 \n187,857.9 \n99,688.5 \n19,315.6 \n44,794.2 \n197,568.8 \n3,436.3 \n132,325.5 \n31,463.1 \n760,079.2 \nJUNE \n4,255.3 \n6,236.6 \n10,753.7 \n1,131.2 \n156,052.6 \n105,613.0 \n18,935.8 \n59,790.7 \n184,390.9 \n3,652.3 \n107,354.6 \n30,017.1 \n688,183.8 \n20 \nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS BUT EXCLUDING PENALTIES) \n \n \n \n \n \n \n \n \n \n \n \n \nEnd Period \n2001 \n2002 \n2003 \n2004 \n2005 \n2006 \n2007 \n2008 \n2009 \n2010 \n2011 \n(US$ millions) \n \n \n \n \n \n \n \n \n \n \n \nLong-Term External Debt \n3,255 \n3,327 \n3,644 \n3,927 \n3,805 \n3,965 \n4,032 \n4,464 \n4951 \n5175 \n6,101 \n \n \n \n \n \n \n \n \n \n \n \n \nGovernment \n2,328 \n2,376 \n2,617 \n2,844 \n2,895 \n3,024 \n3,054 \n3,464 \n4037 \n4095 \n4,315 \nBilateral Creditors \n1,115 \n1,107 \n1,255 \n1,455 \n1,438 \n1,520 \n1,520 \n1,863 \n2308 \n2325 \n2,481 \nMultilateral Creditors \n1,213 \n1,269 \n1,362 \n1,389 \n1,457 \n1,504 \n1,524 \n1,592 \n1729 \n1770 \n1,834 \nPrivate Creditors \n0 \n0 \n0 \n0 \n0 \n0 \n10 \n10 \n0 \n0 \n0 \n \n \n \n \n \n \n \n \n \n \n \n \nPublic Enterprises \n568 \n616 \n698 \n714 \n709 \n766 \n790 \n825 \n857 \n938 \n1,139 \nBilateral Creditors \n315 \n351 \n403 \n442 \n439 \n464 \n474 \n497 \n453 \n238 \n672 \nMultilateral Creditors \n253 \n265 \n295 \n272 \n270 \n302 \n316 \n327 \n403 \n700 \n467 \nPrivate Creditors \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n \n \n \n \n \n \n \n \n \n \n \n \nMonetary Authorities \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n138 \n127 \nMultilateral Creditors - IMF \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n138 \n127 \n \n \n \n \n \n \n \n \n \n \n \n \nPrivate \n67 \n56 \n41 \n78 \n57 \n45 \n51 \n35 \n57 \n142 \n647 \n \n \n \n \n \n \n \n \n \n \n \n \nShort-Term External Debt \n167 \n183 \n169 \n144 \n173 \n281 \n387 \n226 \n1198 \n1382 \n932 \nSupplier's Credits \n13 \n26 \n51 \n69 \n107 \n122 \n178 \n41 \n193 \n286 \n34 \nReserve Bank \n \n \n \n \n \n \n \n \n642 \n642 \n642 \nPrivate \n154 \n157 \n118 \n75 \n66 \n159 \n209 \n185 \n363 \n454 \n256 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nTotal External Debt/1 \n3,422 \n3,510 \n3,812 \n4,071 \n3,978 \n4,246 \n4,607 \n4,690 \n6289 \n6695 \n7,160 \n \n \n \n \n \n \n \n \n \n \n \n \nGross Domestic Product \n10,887 \n6,715 \n5,037 \n4,299 \n2,918 \n6,645 \n4,000 \n3,175 \n6133 \n7433 \n8,865 \nExternal Debt / GDP \n31.4% \n52.3% \n75.7% \n94.7% \n136.3% \n63.9% \n110.5% \n147.7% \n102.5% \n90.1% \n80.8% \n/1 Total external debt excludes penalties \n \n \n \n \n \n \n \n \n \n \n \nSOURCE: Ministry of Finance and \n \n \n \n \n \n \n \n \n \n \n \n21 \nTABLE 4.1 LENDING RATES (percent per annum)1 \n \nCommercial Banks \nMerchant Banks \n \n \n \n \nWeighted Average Lending \nRates3 \n \nWeighted Average Lending \nRates3 \n \n \nEnd Period \nNominal \nLending \nRates2 \nIndividuals \nCorporate \nNominal \nLending \nRates2 \nIndividuals \nCorporate \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \nMar \n8.00-30.00 \n16.04 \n12.53 \n14.00-35.00 \n18.17 \n13.26 \n \n \nApr \n8.00-30.00 \n15.00 \n13.06 \n13.00-25.00 \n18.37 \n16.36 \n \n \nMay \n6.00-30.00 \n14.98 \n11.86 \n15.00-30.00 \n15.78 \n14.47 \n \n \nJun \n6.00-35.00 \n13.81 \n11.58 \n15.00-30.00 \n17.86 \n14.05 \n \n \nJul \n6.00-35.00 \n14.32 \n10.88 \n15.00-30.00 \n17.92 \n13.93 \n \n \nAug \n6.00-35.00 \n15.65 \n10.74 \n15.00-30.00 \n17.94 \n13.95 \n \n \nSep \n6.00-35.00 \n13.25 \n11.14 \n15.00-30.00 \n17.98 \n13.92 \n \n \nOct \n6.00-35.00 \n13.35 \n11.03 \n13.00-30.00 \n17.98 \n13.95 \n \n \nNov \n6.00-35.00 \n15.25 \n10.88 \n13.00-25.00 \n17.91 \n14.42 \n \n \nFeb \n10.00-35.00 \n14.83 \n10.53 \n13.00-25.00 \n17.93 \n14.36 \n \n \n \n \n \n \n \n \n \n \n \nNotes \n \n \n \n \n \n \n \n \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n \n2. Nominal Lending Rates depict the range of rates quoted by banks. \n \n \n \n \n3. Lending rates exclude rates on staff loans. \nDec \n10.00-35.00 \n15.08 \n10.40 \n15.00-25.00 \n17.93 \n14.43 \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \nJan \n10.00-35.00 \n15.58 \n10.81 \n13.00-25.00 \n17.96 \n14.42 \n \n \nApr \n3.00-35.00 \n14.58 \n9.66 \n14.00-25.00 \n17.77 \n14.35 \n \n \nMar \n6.00-35.00 \n14.32 \n10.19 \n14.00-25.00 \n17.80 \n14.35 \n \n \nMay \n9.00-35.00 \n14.25 \n9.89 \n13.00-23.00 \n17.66 \n17.02 \n \n \n \n \n \n \n \n \n \n \n \nJun \n9.00-35.00 \n14.29 \n9.46 \n15.00-22.50 \n17.78 \n16.89 \n \n \n22 \nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)1 \n \n \n \n \n \n \n \n \n \nCOMMERCIAL BANKS \nACCEPTING HOUSES \n \n \n \n \n \n \n \n \nEND OF \nSAVINGS \n3 MONTHS \n3 MONTHS \n \n \n \n \n \n \n \n \n 2011 \n \n \n \nAPRIL \n0.35-6.00 \n0.15-17.00 \n10.00-17.00 \nMAY \n0.30-5.00 \n0.15-17.00 \n10.00-17.00 \nJUNE \n0.15-5.00 \n0.15-17.00 \n10.00-17.00 \nJULY \n0.15-5.00 \n0.10-17.00 \n10.00-17.00 \nAUGUST \n0.15-5.00 \n0.10-17.00 \n11.00-17.00 \nSEPTEMBER \n0.15-5.00 \n0.10-17.00 \n10.00-17.00 \nOCTOBER \n0.15-5.00 \n0.10-17.00 \n10.00-17.00 \nNOVEMBER \n0.15-5.00 \n0.10-17.00 \n10.00-17.00 \nDECEMBER \n0.15-5.00 \n0.10-18.00 \n10.00-17.00 \n \n \n \n \n20122 \n \n \n \nJANUARY \n0.15-5.00 \n5.00-18.00 \n10.00-17.00 \nFEBRUARY \n0.15-5.00 \n5.00-18.00 \n10.00-17.00 \nMARCH \n0.01-12.00 \n5.00-20.00 \n7.00-17.00 \nAPRIL \n0.00-12.00 \n5.00-20.00 \n8.00-17.00 \nMAY \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nJUNE \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nJULY \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nAUGUST \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nSEPTEMBER \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nOCTOBER \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nNOVEMBER \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nDECEMBER \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \n \n \n \n \n2013 \n \n \n \nJANUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nFEBRUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nMARCH \n0.15-8.00 \n4.00-20.00 \n8.00-12.00 \nAPRIL \n0.15-8.00 \n4.00-20.00 \n8.00-12.00 \nMAY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nJUNE \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \n \n \n \n \n \n \n \n \n1. \nThe range of rates qouted by banks during the period. \n2. \nThree (3) months deposit rates revised to exclude rates on inactive or dormant \naccounts. \n \n \n23 \nTABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1 \n( DECEMBER 2012 = 100) \n1. Source: ZIMSTATS. To reflect changing expenditure \npatterns, ZIMSTAT introduced a revised CPI basket and \nrebased CPI figures to December 2012=100. \n \nNON-FOOD INFLATION \nFOOD \nINFLA-\nTION \nALL \n \nALCO-\nHOLIC \nBEVER-\nAGES \nCLOTH-\nING \nHSING, \nWATER, \nFURNITURE \nHEALTH TRANSPORT \nCOMMUNI-\nCATION \nRECREATION & EDUCATION \nRESTAU-\nRANTS & \nMISC. \nTOTAL \nNON \nFOOD & \nITEMS \n \n& TO-\nBACCO \nFOOT-\nWEAR \nELEC-\nTRICTY, \nGAS \nAND \n \n \n \nCULTURE \n \nHOTELS \nGOODS & \nFOOD \nNON \nALCO-\nHOLIC \nBEVER-\nAGES \n \n \n \n \n& OTHER \nEQUIPMENT \n \n \n \n \n \nSERVICES \n \n \n \n \n \n \nFUELS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nWEIGHTS \n4.38 \n6.05 \n17.74 \n9.91 \n2.16 \n9.76 \n3.41 \n2.1 \n5.67 \n1.38 \n3.91 \n66.47 \n33.53 \n100 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n-0.54 \n0.00 \n0.00 \n0.00 \n0.01 \n0.00 \n0.00 \n0.01 \n0.00 \n0.01 \n-0.52 \n-0.06 \n0.32 \n0.07 \nFEBRUARY \n 2.75 \n0.37 \n0.41 \n0.20 \n1.51 \n1.65 \n-0.17 \n-0.08 \n0.08 \n0.77 \n1.11 \n0.72 \n1.40 \n0.95 \nMARCH \n0.47 \n0.04 \n0.03 \n0.36 \n0.06 \n0.49 \n-0.20 \n0.13 \n0.00 \n-1.11 \n0.08 \n0.15 \n0.32 \n0.21 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAPRIL \n0.19 \n-0.10 \n1.68 \n0.00 \n0.27 \n0.00 \n-13.15 \n0.00 \n4.01 \n0.20 \n-0.30 \n0.11 \n-0.49 \n-0.03 \nMAY \n-0.01 \n0.17 \n0.02 \n-0.28 \n-0.08 \n-0.73 \n-0.06 \n-0.49 \n0.00 \n0.05 \n-0.30 \n-0.17 \n-0.28 \n-0.21 \nJUNE \n0.17 \n-0.03 \n-0.01 \n-0.02 \n-0.05 \n-0.14 \n-0.33 \n0.12 \n0.00 \n-0.15 \n0.06 \n-0.03 \n-0.33 \n-0.13 \n24 \nTABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1 \n(DECEMBER 2012 = 100) \n1. Source: ZIMSTATS. To reflect changing expenditure \npatterns, ZIMSTAT introduced a revised CPI basket and \nrebased CPI figures to December 2012=100. \n \nNON-FOOD INFLATION \nFOOD \nINFLATION \nALL \n \nALCO-\nHOLIC \nBEVER-\nAGES \nCLOTHING \nHSING, \nWATER, \nFURNI-\nTURE \nHEALTH \nTRANSPORT \nCOMMU-\nNICATION \nRECREA-\nTION & \nEDUCA-\nTION \nRESTAU-\nRANTS & \nMISC. \nTOTAL \nNON \nFOOD & \nITEMS \n \n& TO-\nBACCO \nFOOTWEAR \nELEC-\nTRICTY, GAS \nAND \n \n \n \nCULTURE \nHOTELS \nGOODS & \nFOOD \nNON ALCO-\nHOLIC \nBEVER-\nAGES \n \n \n \n \n& OTHER \nEQUIP-\nMENT \n \n \n \n \n \n \nSERVICES \n \n \n \n \n \nFUELS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nWEIGHTS \n4.38 \n6.05 \n17.74 \n9.91 \n2.16 \n9.76 \n3.41 \n2.1 \n5.67 \n1.38 \n3.91 \n66.47 \n33.53 \n100 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n3.83 \n-0.74 \n10.70 \n0.65 \n1.94 \n6.42 \n-0.36 \n1.92 \n12.96 \n1.92 \n1.32 \n1.91 \n3.72 \n2.51 \nFEBRUARY \n5.77 \n-0.74 \n7.11 \n0.64 \n3.23 \n8.31 \n-0.01 \n-0.19 \n13.05 \n 3.01 \n 1.95 \n2.91 \n4.67 \n2.98 \nMARCH \n6.24 \n-0.80 \n5.48 \n0.70 \n3.28 \n8.73 \n-0.05 \n-0.19 \n8.37 \n1.71 \n1.64 \n2.04 \n4.18 \n2.76 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAPRIL \n3.57 \n5.86 \n-0.40 \n4.40 \n0.90 \n3.77 \n7.70 \n-13.33 \n-1.28 \n12.54 \n1.63 \n1.21 \n1.94 \n2.53 \nMAY \n5.88 \n-0.38 \n3.95 \n0.66 \n3.60 \n6.85 \n-13.13 \n-0.83 \n12.56 \n1.44 \n1.04 \n1.54 \n3.54 \n2.20 \nJUNE \n5.40 \n-0.50 \n2.65 \n0.16 \n3.03 \n6.85 \n-13.40 \n-0.33 \n7.75 \n1.35 \n1.22 \n1.35 \n2.90 \n1.87 \n25 \n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES \n \n \n \n \n \n \n \n \n \n \n \n \n \nSA \nBW \nJAPANESE \nEUROPEAN \nPOUND \nEND OF \nRAND/1 \nPULA/1 \nYEN/1 \nCURRENCY/2 \nSTERLING/2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n7.82 \n7.32 \n76.20 \n1.32 \n1.60 \nFEBRUARY \n7.47 \n7.13 \n80.28 \n1.35 \n1.60 \nMARCH \n7.59 \n7.29 \n81.92 \n1.33 \n1.59 \nAPRIL \n7.82 \n7.41 \n80.78 \n1.32 \n1.61 \nMAY \n8.14 \n7.63 \n79.80 \n1.28 \n1.59 \nJUNE \n8.38 \n7.77 \n79.42 \n1.25 \n1.56 \nJULY \n8.18 \n7.74 \n78.23 \n1.23 \n1.57 \nAUGUST \n8.45 \n7.80 \n78.47 \n1.25 \n1.58 \nSEPTEMBER \n8.23 \n7.65 \n77.50 \n1.29 \n1.63 \nOCTOBER \n8.64 \n7.88 \n79.78 \n1.30 \n1.61 \nNOVEMBER \n8.78 \n7.95 \n80.94 \n1.30 \n1.60 \nDECEMBER \n8.48 \n7.88 \n86.06 \n1.32 \n1.62 \n \n \n \n \n \n \nJANUARY \n9.03 \n8.05 \n90.90 \n1.36 \n1.58 \nFEBRUARY \n8.84 \n8.04 \n92.36 \n1.31 \n1.52 \nJUNE \n9.94 \n8.60 \n98.74 \n1.31 \n1.53 \n \n \n \n \n \n \n1. Foreign currency per US Dollar. \n \n \n \n \n2. US Dollar per unit of foreign currency. \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nMARCH \n9.26 \n8.30 \n94.13 \n1.28 \n1.51 \nAPRIL \n8.98 \n8.10 \n97.76 \n1.31 \n1.55 \nMAY \n10.08 \n8.65 \n100.85 \n1.30 \n1.52 \n \n \n \n \n \n \n26 \nTABLE 7.1: COMMERCIAL BANKS - ASSETS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \nSecurities \n \n \nLoans & Contingent \nOther \nNon Financial \nTotal \nEnd of \nNotes \n \n \n \n \n \n \nTotal \nOther Balances Advances \nAssets \nAssets \nAssets \nAssets \n \n& \nBalances \nBalances \nBalances \n \n \n \n Liquid \nwith RBZ \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury Agric PEs \n Assets \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n255.1 \n258.7 \n91.1 \n382.3 \n109.8 \n0.0 \n0.0 \n1,097.0 \n120.3 \n1,988.3 \n262.6 \n135.2 \n316.4 \n3,919.8 \nFeb \n242.8 \n335.2 \n90.0 \n489.4 \n121.3 \n0.0 \n0.0 \n1,278.7 \n102.7 \n1,978.3 \n265.7 \n138.9 \n329.6 \n4,093.8 \n Mar \n285.0 \n444.6 \n103.2 \n217.6 \n140.4 \n0.0 \n0.0 \n1,191.3 \n34.7 \n2,040.5 \n337.0 \n152.8 \n339.6 \n4,095.9 \n Apr \n306.5 \n459.1 \n128.5 \n197.4 \n217.0 \n0.0 \n0.0 \n1,308.5 \n32.8 \n2,068.4 \n348.9 \n180.2 \n342.0 \n4,280.7 \n May \n316.3 \n441.8 \n113.2 \n210.5 \n225.8 \n0.0 \n0.0 \n1,307.6 \n32.2 \n2,156.2 \n388.5 \n182.5 \n384.1 \n4,451.3 \nJun \n297.2 \n413.2 \n98.2 \n245.8 \n232.6 \n0.0 \n0.0 \n1,287.1 \n32.4 \n2,140.6 \n369.7 \n228.5 \n386.3 \n4,444.7 \n Jul \n329.9 \n403.3 \n108.9 \n211.0 \n205.1 \n0.0 \n0.0 \n1,258.2 \n25.0 \n2,359.7 \n370.0 \n242.7 \n393.3 \n4,648.8 \n Aug 331.2 \n363.1 \n97.7 \n165.3 \n211.6 \n0.0 \n0.0 \n1,168.8 \n24.9 \n2,404.0 \n385.9 \n221.3 \n390.1 \n4,594.9 \n Sep \n299.3 \n381.7 \n109.8 \n185.2 \n175.2 \n0.0 \n0.0 \n1,151.3 \n25.1 \n2,498.0 \n390.6 \n240.1 \n390.4 \n4,695.4 \nOct \n331.5 \n368.4 \n127.1 \n191.5 \n174.2 \n7.4 \n0.0 \n1,200.1 \n25.0 \n2,530.01 \n372.3 \n246.6 \n389.6 \n4,763.6 \nNov \n306.6 \n358.3 \n119.3 \n325.9 \n188.1 \n7.5 \n0.0 \n1306.0 \n25.5 \n2,591.9 \n348.3 \n234.4 \n394.1 \n4,900.0 \nDec \n375.9 \n374.7 \n131.1 \n219.7 \n190.8 \n8.2 \n0.0 \n1,300.4 \n27.7 \n2,631.6 \n375.3 \n255.7 \n389.0 \n4,980.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n323.4 \n378.5 \n103.4 \n182.3 \n247.8 \n0.0 \n0.0 \n1,235.5 \n52.2 \n2,694.9 \n386.1 \n205.7 \n386.7 \n4,961.1 \nFeb \n292.2 \n357.7 \n120.5 \n234.6 \n239.9 \n0.0 \n0.0 \n1,244.9 \n27.7 \n2,289.3 \n328.8 \n208.0 \n388.3 \n4,887.0 \nMar \n271.6 \n345.7 \n196.1 \n198.9 \n265.3 \n0.0 \n0.0 \n1,277.6 \n26.1 \n2,715.8 \n367.2 \n228.8 \n388.0 \n5,003.5 \nApr \n263.8 \n383.6 \n201.1 \n272.9 \n289.9 \n75.3 \n5.2 \n1,491.7 \n26.3 \n2,595.8 \n341.3 \n207.0 \n382.1 \n5,044.2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n May \n250.9 \n400.9 \n198.2 \n296.7 \n253.5 \n75.4 \n5.3 \n1,480.8 \n25.8 \n2,673.2 \n389.8 \n208.0 \n382.9 \n5,160.5 \nJun \n227.2 \n416.4 \n171.9 \n257.5 \n271.8 \n75.5 \n5.3 \n1,425.8 \n26.0 \n2,698.3 \n364.1 \n217.8 \n384.6 \n5,116.5 \n27 \nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nOf which \n \n \n \n \n \n \n \n \nand \nLiabilities Liabilities Liabilities Liabilities \nto the \nEnd of \nDemand \nSavings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther Banks Reserves \n \n \n \nPublic \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n1,830.5 \n740.1 \n170.2 \n2,740.8 \n143.6 \n0.0 \n47.3 \n426.6 \n262.6 \n298.9 \n3,919.8 \n2,740.8 \nFeb \n1,980.9 \n745.4 \n197.8 \n2,924.1 \n163.3 \n0.0 \n23.5 \n437.8 \n265.7 \n281.4 \n4,095.8 \n2,924.1 \n Mar \n1,944.7 \n699.6 \n322.7 \n2,967.0 \n149.2 \n0.0 \n25.4 \n437.5 \n337.0 \n262.4 \n4,178.6 \n2,967.0 \n Apr \n1,932,8 \n722.1 \n350.4 \n3,005.3 \n155.1 \n0.0 \n23.8 \n440.3 \n348.9 \n307.3 \n4,280.7 \n3,005.3 \n May \n1,886.1 \n802.5 \n462.2 \n3,150.9 \n175.3 \n0.0 \n23.2 \n483.6 \n388.5 \n229.7 \n4,451.3 \n3,150.9 \nJun \n1,889.3 \n899.4 \n391.7 \n3,180.4 \n170.9 \n0.0 \n21.5 \n503.9 \n369.7 \n198.2 \n4,444.7 \n3,180.4 \nJul \n1,957.8 \n873.6 \n500.6 \n3,331.9 \n172.8 \n0.0 \n22.7 \n539.0 \n370.0 \n212.4 \n4,648.8 \n3,331.9 \nAug \n1,919.2 \n930.2 \n374.3 \n3,223.6 \n172.2 \n0.0 \n22.1 \n562.5 \n385.9 \n228.5 \n4,594.9 \n3,223.6 \n Sep \n1,962.6 \n883.0 \n490.0 \n3,335.6 \n183.9 \n0.0 \n20.5 \n552.6 \n390.6 \n205.8 \n4,689.0 \n3,335.6 \n Oct \n1,997.7 \n1,011.7 \n413.6 \n3,422.9 \n168.1 \n0.0 \n20.5 \n562.9 \n372.3 \n216.7 \n4,763.6 \n3,422.9 \n Nov \n1,895.8 \n966.6 \n679.6 \n3,542.0 \n192.9 \n0.0 \n38.2 \n562.2 \n348.3 \n216.4 \n4,900.0 \n3,542.0 \n Dec \n2,090.5 \n922.3 \n507.5 \n3,520.4 \n212.5 \n0.0 \n30.8 \n618.5 \n375.3 \n222.5 \n4,980.0 \n3,520.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n2,032.2 \n866.1 \n552.4 \n3,450.7 \n266.1 \n0.0 \n27.8 \n623.9 \n386.1 \n206.5 \n4,961.1 \n3,450.7 \nFeb \n1,987.8 \n933.3 \n491.5 \n3,412.5 \n258.1 \n0.0 \n32.4 \n631.9 \n328.8 \n223.3 \n4,887.0 \n3,417.9 \nMar \n1,960.1 \n976.3 \n451.1 \n3,387.3 \n290.9 \n0.0 \n32.8 \n687.7 \n367.2 \n237.6 \n5,003.5 \n3,387.3 \nApr \n 2,074.5 \n1,046.3 \n379.5 \n3,500.3 \n 247.6 \n0.0 \n37.9 \n667.2 \n341.3 \n249.8 \n5,044.2 \n3,500.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n May \n2,066.0 \n913.0 \n479.9 \n3,459.0 \n346.5 \n0.0 \n81.8 \n674.4 \n389.8 \n209.0 \n5,160.4 \n3,459.0 \n Jun \n2,013.9 \n919.6 \n298.9 \n3,232.4 \n553.0 \n0.0 \n74.1 \n702.3 \n364.1 \n190.6 \n5,116.5 \n3,232.4 \n28 \nTABLE 8.1 : ACCEPTING HOUSES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLoans & Contingent \nOther \nNon Financial \nTotal \nEnd of \nNotes \n \n \n \n \n \nTotal \nOther \nBalances Advances \nAssets \nAssets \nAssets \nAssets \n \n& \nBalances Balances Balances \n \n \nLiquid \nwith RBZ \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury \n Assets \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJune \n3.6 \n6.6 \n23.9 \n1.0 \n9.9 \n0.0 \n44.9 \n0.0 \n277.8 \n49.6 \n84.2 \n22.7 \n479.3 \nJul \n1.4 \n2.2 \n25.2 \n0.9 \n8.2 \n0.0 \n37.9 \n0.0 \n237.5 \n37.5 \n75.7 \n14.8 \n403.5 \nAug \n0.8 \n0.6 \n31.8 \n0.4 \n5.5 \n0.0 \n39.2 \n0.0 \n223.3 \n36.7 \n59.5 \n22.7 \n381.4 \nSep \n0.9 \n3.7 \n27.8 \n5.5 \n3.1 \n0.0 \n40.9 \n0.0 \n228.0 \n36.8 \n56.1 \n22.1 \n383.9 \nOct \n2.8 \n0.4 \n28.4 \n1.6 \n3.3 \n0.4 \n36.9 \n0.0 \n208.9 \n37.1 \n53.5 \n22.4 \n358.7 \nNov \n1.7 \n0.5 \n30.2 \n1.2 \n3.3 \n0.4 \n37.3 \n0.0 \n235.9 \n37.1 \n53.6 \n22.4 \n386.3 \nDec \n2.2 \n1.0 \n26.1 \n1.4 \n3.3 \n0.4 \n34.4 \n0.0 \n239.2 \n37.2 \n69.1 \n22.3 \n402.3 \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n1.5 \n2.7 \n28.6 \n0.0 \n3.4 \n0.0 \n36.2 \n0.0 \n236.7 \n34.8 \n60.2 \n29.1 \n397.0 \nFeb \n4.7 \n1.5 \n18.4 \n0.0 \n4.5 \n0.0 \n26.9 \n0.0 \n245.7 \n34.8 \n63.9 \n28.9 \n398.2 \nMar \n2.5 \n1.1 \n7.3 \n-3.1 \n1.2 \n0.0 \n8.9 \n0.0 \n260.3 \n34.2 \n50.4 \n28.8 \n382.6 \nApr \n2.7 \n1.3 \n20.1 \n-1.9 \n1.2 \n0.0 \n23.4 \n0.0 \n254.9 \n34.2 \n51.7 \n27.7 \n392.0 \nMay \n2.4 \n4.1 \n18.6 \n-2.4 \n4.5 \n0.0 \n27.3 \n0.0 \n253.4 \n34.6 \n63.0 \n12.7 \n391.0 \nJun \n2.4 \n3.6 \n7.9 \n1.1 \n9.1 \n0.0 \n24.1 \n0.0 \n260.3 \n34.6 \n51.4 \n35.2 \n405.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n29 \nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nLiabilities to the \n \n \n \n \n \n \n \n \nand \nLiabilities \nLiabilities \nLiabilities \nPublic \nEnd of Demand Savings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther \nBanks \nReserves \n \n \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n Apr \n89.9 \n117.5 \n42.8 \n250.3 \n44.8 \n0.0 \n0.0 \n55.6 \n56.3 \n69.4 \n476.2 \n250.3 \n May \n85.5 \n100.9 \n68.1 \n254.6 \n44.8 \n0.0 \n0.0 \n-48.7 \n54.9 \n168.7 \n474.3 \n254.6 \n Jun \n136.9 \n91.2 \n33.7 \n261.8 \n44.6 \n0.0 \n1.7 \n-22.4 \n49.6 \n144.0 \n479.3 \n261.8 \n Jul \n110.8 \n36.4 \n69.2 \n216.4 \n43.6 \n0.0 \n1.0 \n-33.1 \n37.5 \n138.1 \n403.5 \n216.4 \n Aug \n107.0 \n42.6 \n64.5 \n214.1 \n43.1 \n0.0 \n1.0 \n-96.8 \n36.7 \n183.3 \n381.4 \n214.1 \n Sep \n102.5 \n60.4 \n56.4 \n219.3 \n42.8 \n0.0 \n2.7 \n-47.9 \n36.8 \n130.2 \n383.9 \n219.3 \n Oct \n122.8 \n35.9 \n60.6 \n219.3 \n39.8 \n0.0 \n2.7 \n-51..1 \n37.1 \n110.9 \n358.7 \n219.3 \n Nov \n105.3 \n69.3 \n46.4 \n221.0 \n39.9 \n0.0 \n2.7 \n-69.7 \n37.1 \n155.2 \n386.3 \n221.0 \n Dec \n108.1 \n67.9 \n44.2 \n220.2 \n44.5 \n0.0 \n2.7 \n-60.9 \n37.2 \n158.5 \n402.3 \n220.2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n106.9 \n91.7 \n21.3 \n220.0 \n44.8 \n0.0 \n2.7 \n-72.4 \n34.8 \n167.2 \n397.0 \n220.0 \n Feb \n102.8 \n66.0 \n55.7 \n224.5 \n45.3 \n0.0 \n2.7 \n-77.8 \n34.8 \n168.7 \n398.2 \n224.5 \n Mar \n104.3 \n62.3 \n52.8 \n219.5 \n45.8 \n0.0 \n1.2 \n-97.3 \n34.2 \n179.3 \n382.6 \n219.5 \n Apr \n107.3 64.6 \n56.3 \n228.3 \n 45.4 \n0.0 \n1.2 -98.1 \n34.2 \n 181.1 \n392.0 \n228.3 \n May \n112.2 \n67.1 \n54.4 \n233.6 \n46.7 \n0.0 \n1.2 \n-99.4 \n34.6 \n174.3 \n391.0 \n233.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jun \n114.6 \n56.2 \n52.3 \n223.1 \n46.7 \n0.0 \n1.2 \n-91.2 \n34.6 \n191.2 \n405.6 \n223.1 \n30 \nTABLE 9.1 : BUILDING SOCIETIES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \nNotes \nBalances \nTrade \nTreasury \nTotal \nMortgage \nOther \nOther \nNon Finan-\ncial \nTotal \nEnd of \n& \nwith Other \nBills \nBills \nLiquid \nAdvances \nAdvances \nAssets \nAssets \n Assets \n \nCoin \nBanks \n \n \n Assets \n \n \n \n \n \n \nat Banks \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n Jan \n20.1 \n80.8 \n0.0 \n0.0 \n100.9 \n207.2 \n80.6 \n17.6 \n112.2 \n518.5 \n Feb \n13.3 \n99.2 \n0.0 \n0.0 \n112.6 \n226.5 \n81.0 \n19.3 \n112.5 \n551.8 \n Mar \n15.8 \n109.0 \n0.0 \n0.0 \n124.7 \n221.5 \n83.1 \n19.7 \n112.7 \n561.6 \n Apr \n18.2 \n99.7 \n0.2 \n0.0 \n118.0 \n215.5 \n85.5 \n23.7 \n111.3 \n554.0 \n May \n19.6 \n93.7 \n0.2 \n0.0 \n113.4 \n219.7 \n93.3 \n24.5 \n113.0 \n564.0 \n Jun \n15.7 \n102.2 \n0.2 \n0.0 \n118.1 \n239.5 \n96.5 \n25.6 \n114.6 \n594.3 \n Jul \n19.6 \n108.6 \n0.0 \n0.0 \n128.2 \n242.3 \n101.3 \n26.2 \n116.2 \n614.3 \n Aug \n18.7 \n113.1 \n0.0 \n0.0 \n131.8 \n248.8 \n104.7 \n27.5 \n118.2 \n630.9 \n Sep \n18.6 \n131.9 \n0.0 \n0.0 \n150.5 \n248.8 \n105.6 \n29.2 \n118.9 \n653.0 \n Oct \n20.1 \n123.0 \n0.0 \n1.0 \n144.0 \n266.6 \n116.7 \n28.9 \n118.9 \n675.1 \n Nov \n22.5 \n125.0 \n0.0 \n1.0 \n148.6 \n277.2 \n117.8 \n33.4 \n117.4 \n694.3 \n Dec \n29.2 \n133.2 \n0.0 \n1.0 \n163.4 \n278.1 \n118.3 \n30.2 \n126.9 \n716.9 \n Feb \n20.2 \n164.3 \n0.0 \n0.0 \n84.5 \n291.8 \n117.9 \n35.3 \n121.4 \n734.2 \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n Jan \n20.4 \n125.5 \n0.2 \n0.0 \n146.1 \n283.2 \n118.5 \n36.1 \n121.4 \n705.3 \n Mar \n18.8 \n129.1 \n0.2 \n20.0 \n168.1 \n291.4 \n116.9 \n39.5 \n121.4 \n737.3 \n \n \n \n \n \n \n \n \n \n \n \n Apr \n16.9 \n159.8 \n0.2 \n20.2 \n197.2 \n294.8 \n115.5 \n39.5 \n122.1 \n769.1 \n May \n30.2 \n179.6 \n0.2 \n20.3 \n230.0 \n307.3 \n120.3 \n40.4 \n121.9 \n820.0 \n Jun \n28.6 \n178.8 \n0.0 \n20.0 \n227.3 \n314.2 \n122.4 \n44.6 \n121.8 \n830.3 \n31 \nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \nDeposits \nCapital \nOther \nTotal \nLiabilities to the \n \n \n \n \nand \nLiabilities \n Liabilities \nPublic \nEnd of \nSavings and \nShort-term \nLong-term \nTotal \nReserves \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n2011 \n \n \n \n \n \n \n \n Jan \n72.6 \n70.1 \n142.8 \n105.8 \n34.6 \n283.1 \n142.8 \n Feb \n78.8 \n76.2 \n155.0 \n107.6 \n36.1 \n298.7 \n155.0 \n Mar \n87.0 \n83.0 \n170.1 \n108.6 \n11.8 \n318.7 \n170.1 \n Apr \n90.1 \n85.0 \n175.1 \n110.6 \n16.4 \n332.1 \n175.1 \n May \n95.5 \n102.5 \n197.9 \n112.7 \n21.6 \n364.9 \n197.9 \n Jun \n124.6 \n77.4 \n202.0 \n116.7 \n50.6 \n369.4 \n202.0 \n Jul \n146.7 \n68.1 \n214.8 \n119.0 \n70.0 \n403.9 \n214.8 \n Aug \n149.9 \n80.6 \n230.6 \n122.0 \n67.7 \n420.3 \n230.6 \n Sep \n149.4 \n93.2 \n242.6 \n123.1 \n77.5 \n443.3 \n242.6 \n Oct \n154.3 \n93.0 \n247.3 \n125.8 \n13.7 \n453.8 \n247.3 \n Nov \n158.3 \n123.9 \n282.4 \n129.0 \n89.2 \n500.6 \n282.4 \n Dec \n186.4 \n100.7 \n287.0 \n121.3 \n96.7 \n505.1 \n287.0 \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n Jan \n201.3 \n94.2 \n295.5 \n127.3 \n95.7 \n518.5 \n295.5 \n Feb \n209.9 \n115.3 \n325.2 \n129.9 \n96.7 \n551.8 \n325.2 \n Mar \n182.1 \n152.2 \n334.3 \n129.6 \n76.7 \n540.7 \n334.3 \n Apr \n205.3 \n126.2 \n331.5 \n131.9 \n90.5 \n554.0 \n331.5 \n May \n242.1 \n93.4 \n335.5 \n136.3 \n70.4 \n564.0 \n335.5 \n Jun \n260.1 \n109.7 \n369.7 \n141.8 \n82.7 \n594.3 \n369.7 \n Jul \n233.2 \n156.1 \n389.3 \n145.7 \n79.3 \n614.3 \n389.3 \n Aug \n231.0 \n170.1 \n401.2 \n150.0 \n79..8 \n630.9 \n401.2 \n Sep \n247.3 \n172.8 \n420.0 \n153.1 \n80.0 \n653.0 \n420.0 \n Oct \n263.2 \n165.4 \n428.6 \n159.8 \n27.5 \n675.1 \n428.6 \n Nov \n246.8 \n179.5 \n426.3 \n165.5 \n28.2 \n694.3 \n426.3 \n Dec \n255.8 \n184.6 \n440.3 \n177.8 \n28.1 \n716.9 \n440.3 \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n Jan \n230.0 \n192.8 \n422.8 \n180.3 \n102.3 \n705.3 \n422.8 \n Feb \n255.7 \n194.2 \n449.9 \n183.7 \n100.6 \n734.2 \n449.9 \n Mar \n250.6 \n203.9 \n454.5 \n187.2 \n95.7 \n737.3 \n454.5 \n Apr \n252.9 \n226.6 \n479.5 \n190.6 \n22.3 \n769.3 \n479.5 \n \n \n \n \n \n \n \n \n May \n315.3 \n212.0 \n527.4 \n193.3 \n23.4 \n820.0 \n527.4 \n Jun \n309.0 \n222.6 \n531.6 \n198.3 \n100.4 \n830.3 \n531.6 \n32 \nTable 10: ZIMBABWE STOCK MARKET STATISTICS \n \n \n \n \n \nIndices \nUS$ Millions \n \nIndustrial \nMining \nMarket Capitalisation \n \n \n \n \n2012 \n \n \n \n \n \n \n \nJan \n138.52 \n79.09 \n3,422.20 \nFeb \n146.03 \n95.39 \n3,696.60 \nMar \n136.76 \n85.01 \n3,458.10 \nApr \n129.55 \n97.15 \n3,303.40 \nMay \n132.03 \n83.73 \n3,351.20 \nJun \n131.96 \n75.70 \n3,341.46 \nJul \n132.92 \n112.12 \n3,445.93 \nAug \n132.27 \n89.04 \n3,434.00 \nSep \n146.00 \n96.00 \n3,822.80 \nOct \n154.47 \n93.66 \n4,033,76 \nNov \n150.16 \n68.74 \n3,890.9 \nDec \n152.40 \n65.12 \n3,963.50 \n \n \n \n \n2013 \n \n \n \n \n \n \n \nJan \n179.34 \n84.07 \n4,700.33 \nFeb \n182.3 \n72.01 \n4,748.24 \nMar \n183.88 \n66.21 \n4,726.34 \n \n \n \n \n \n \n \n \nSource: Zimbabwe Stock Exchange (ZSE) \n \nApr \n189.66 \n71.98 \n4,894.68 \nMay \n212.72 \n73.99 \n5,471.22 \nJun \n211.19 \n73.29 \n5,436.57 \n33 \nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial \nMerchant \n \nBuilding \n \nEnd of \nBanks \nBanks \nOther/2 \nSocieties \nTOTAL \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n910.3 \n110.9 \n52.3 \n295.5 \n1,369.0 \nFebruary \n943.2 \n123.2 \n57.0 \n325.2 \n1,448.6 \nMarch \n1,022.3 \n178.3 \n56.0 \n334.3 \n1,590.9 \nApril \n1,072.5 \n160.3 \n54.2 \n331.5 \n1,618.5 \nMay \n1,264.8 \n169.0 \n55.4 \n335.5 \n1,824.7 \nJune \n1,291.1 \n124.9 \n58.3 \n369.7 \n1,844.0 \nJuly \n1,374.2 \n105.6 \n61.4 \n389.3 \n1,930.5 \nAugust \n1,304.5 \n107.1 \n59.3 \n401.2 \n1,872.1 \nSeptember \n1,373.0 \n116.8 \n60.1 \n420.0 \n1,969.9 \nOctober \n1,425.3 \n96.4 \n61.8 \n428.6 \n2,012.1 \nNovember \n1,646.2 \n115.7 \n67.2 \n426.3 \n2,255.4 \nDecember \n1,429.8 \n112.1 \n63.9 \n440.3 \n2,046.1 \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,418.5 \n113.0 \n64.3 \n422.8 \n2,018.6 \nFebruary \n1,424.8 \n121.7 \n64.7 \n449.9 \n2,061.1 \nMarch \n1,427.3 \n115.2 \n66.7 \n454.5 \n2,063.6 \n \n \n \n \n \n \n \n \n \n \n \n \n1/ Comprises all deposits other than demand deposits. \n2/ Includes People’s Own Savings Bank (POSB). \n \n \nApril \n1,425.8 \n121.0 \n63.9 \n479.5 \n2,090.1 \nMay \n1,393.0 \n121.5 \n66.2 \n527.4 \n2,108.0 \nJune \n1,218.4 \n108.6 \n70.6 \n531.6 \n1,929.2 \n34 \nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial Banks \nAccepting Houses \n \n \n \n \n \n \n \n \nLiquid \nPrescribed \nExcess \nLiquid \nPrescribed \nExcess \n \nassets \nliquid \nliquid \nassets \nliquid \nLiquid \nEnd of \nheld \nassets/1 \nassets \nheld \nassets/1 \nassets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,097.0 \n685.2 \n411.8 \n75.1 \n62.2 \n12.9 \nFebruary \n1,278.7 \n731.5 \n548.2 \n44.8 \n64.4 \n-19.6 \nMarch \n1,273.6 \n741.8 \n531.8 \n95.1 \n62.3 \n32.8 \nApril \n1,308.5 \n751.3 \n557.2 \n72.3 \n62.6 \n9.8 \nMay \n1,307.6 \n787.7 \n519.9 \n51.0 \n63.6 \n-12.6 \nJune \n1,287.5 \n795.1 \n492.4 \n44.9 \n65.4 \n-20.5 \nJuly \n1,258.2 \n833.0 \n425.2 \n37.9 \n54.1 \n-16.2 \nAug \n1,168.8 \n805.9 \n362.9 \n39.2 \n53.5 \n-14.4 \nSeptember \n1,151.3 \n833.9 \n317.4 \n40.9 \n54.8 \n-13.9 \nOctober \n1,200.1 \n855.7 \n344.4 \n36.9 \n54.8 \n-17.9 \nNovember \n1,306.0 \n885.5 \n420.5 \n37.3 \n55.2 \n-18.0 \nDecember \n1,300.4 \n880.1 \n420.3 \n34.4 \n55.1 \n-20.6 \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,235.5 \n862.7 \n372.8 \n36.2 \n55.0 \n-18.8 \nFebruary \n1,244.9 \n854.5 \n390.4 \n26.9 \n56.1 \n-29.2 \nMarch \n1,277.6 \n846.8 \n430.8 \n8.9 \n54.9 \n-46.0 \nApril \n1,491.7 \n875.1 \n616.6 \n23.4 \n57.1 \n-33.6 \nMay \n1,480.8 \n864.7 \n616.1 \n27.3 \n58.4 \n-31.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n1/ With effect from 1 August 2010, the prescribed liquid asset ratio was reviewed from 10% to 20% of liabilities to the public. \nJune \n1,425.8 \n808.1 \n617.7 \n24.1 \n55.8 \n-31.7 \n35 \nTABLE 13 : ZETSS, CHEQUES AND CARDS ACTIVITY. \nUS$ Millions \nMONTH \nZETSS VALUES \nCHEQUE VALUES \nCARD VALUES \nMOBILE & INTERNET \n \n \n \n \n \n2012 \n \n \n \n \nJan \n2,439.7 \n5.3 \n137.2 \n60.8 \nFeb \n2,920.1 \n6.1 \n137.1 \n77.2 \nMar \n3,242.8 \n6.8 \n156.4 \n104.1 \nApr \n2,948.5 \n5.5 \n160.5 \n68.6 \nMay \n3,237.4 \n5.0 \n189.6 \n82.0 \nJun \n3,407.3 \n6.5 \n177.7 \n93.5 \nJul \n3,321.0 \n6.7 \n169.1 \n135.6 \nAug \n3,417.3 \n6.1 \n218.4 \n98.3 \nSep \n3,043.2 \n5.6 \n235.5 \n149.2 \nOct \n3,630.7 \n6.6 \n232.9 \n196.9 \nNov \n3,526.0 \n5.9 \n240.8 \n197.3 \nDec \n3,584.7 \n5.0 \n308.9 \n220.3 \nAnnual Total \n38,718.7 \n71.1 \n2,364.1 \n1,483.8 \nFeb \n2,968.0 \n5.5 \n260.5 \n199.3 \n \n \n \n \n \n2013 \n \n \n \n \nJan \n3,563.8 \n5.2 \n254.4 \n205.2 \nMar \n3,340.0 \n15.2 \n312.4 \n220.6 \n \n \n \n \n \nApr \n3,535.6 \n16.6 \n328.2 \n283.6 \nMay \n3,915.3 \n15.4 \n332.6 \n364.0 \nJune \n3,544.3 \n5.9 \n298.4 \n266.7", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/June2013.pdf"}

dedup/cb_requests/09bac2f9101a68b56123c3404b00bb1f.json

@@ -0,0 +1 @@
+{"doc_id": "09bac2f9101a68b56123c3404b00bb1f", "text": "MPC Statement January 17th, 2019 \nPage 1 \n \n \nSouth African Reserve Bank \n \nPRESS STATEMENT \nEMBARGO DELIVERY \n17 January 2019 \n \n \nSTATEMENT OF THE MONETARY POLICY COMMITTEE \n \nIssued by Lesetja Kganyago, Governor of the South African Reserve Bank \nSince November 2018, international developments have been the major contributor to \nan improved inflation outlook. Significant declines in international oil prices and a less \ndepreciated exchange rate have been key drivers of this improved outlook. Domestic \npetrol prices decreased by a cumulative R3.07 per litre (for 95 unleaded in Gauteng) \nin December and January. Lower food price inflation also contributed to lower \nconsumer price inflation. The economy’s recovery from the technical recession in the \nfirst half of 2018 is welcomed, but it remains modest, with growth constrained by \nsubdued demand as a result of weaker levels of consumer and business confidence. \nThe year-on-year inflation rate as measured by the consumer price index (CPI) for all \nurban areas was 5.2% in November (up from 5.1% in October). Goods price inflation \nwas 5.3% (up from 5.1% in October), while services price inflation was unchanged at \n5.1%. The Bank’s measure of core inflation, which excludes food, fuel and electricity \nMPC Statement January 17th, 2019 \nPage 2 \n \nwas 4.4% in November compared to 4.2% in October. Producer price inflation for final \nmanufactured goods slowed marginally to 6.8% in November from 6.9% in October. \nThe near-term inflation forecast generated by the SARB’s Quarterly Projection Model \n(QPM) has improved significantly since the previous MPC. Headline inflation is now \nexpected to average 4.6% in 2018 (down from 4.7%) and 4.8% in 2019 (down from \n5.5%), before increasing to 5.3% in 2020 (down from 5.4%) and moderating to 4.8% \nin 2021. Headline CPI inflation is now expected to peak at around 5.6%, in the first \nquarter of 2020. Core inflation is expected remain unchanged at 4.3% in 2018 and \nforecast to average 5.0% in 2019 (down from 5.3%), 5.1% in 2020 (down from 5.5%) \nand 4.8% in 2021. These inflation projections are based on an interest rate path \ngenerated by the QPM. \nFollowing a significant decline in oil prices since November, the assumptions for Brent \ncrude oil in the QPM were revised down by around US$10 per barrel from US$73 to \nUS$62 for 2019 and US$65 for 2020 and 2021. Food price inflation is expected to \nhave bottomed out in the fourth quarter of 2018 and to rise to 4.6% in 2021. \nAverage inflation expectations for both 2019 and 2020, as reflected in the survey \nconducted by the Bureau for Economic Research (BER) in the fourth quarter of 2018, \ndeclined from 5.6% to 5.4%. Average five-year expectations also came down from \n5.5% in the previous survey to 5.3%. \nThe inflation expectations of market analysts in the January 2019 Reuters Econometer \nsurvey are also lower at 5.2% in 2019 (down from 5.5%) and remained unchanged at \n5.3% for 2020. Expectations implicit in the break-even inflation rates (i.e. the yield \ndifferential between conventional and inflation-linked government bonds) remain \nMPC Statement January 17th, 2019 \nPage 3 \n \nsensitive to exchange rate movements. While five-year break-even rates remain within \nthe inflation target range, the longer-term break-even rates remain above 6%. \nGlobal growth is expected to remain broadly favourable over the near term, but to \nmoderate over the medium term while risks are tilted to the downside. The negative \neffects of tariff increases are becoming more visible in economic data and uncertainty \narising from trade tensions remains. Other risks include geo-political developments \nand excessive financial market volatility. \nRecent communication from major central banks suggests a slower pace of monetary \npolicy normalisation in advanced economies. In December, the US Fed signalled a \nmore gradual pace of rate hikes. Although the European Central Bank (ECB) ended \nits asset purchase programme in December, it has indicated that monetary policy \nwould remain largely accommodative. \nSince the November MPC, the rand has appreciated by 1.4% against the US dollar, \nby 1.5% against the euro, and by 0.5% on a trade-weighted basis. The implied starting \npoint for the rand is R14.30 against the US dollar, compared with R14.50 at the time \nof the previous meeting. At these levels, the QPM assesses the rand to be less \nundervalued. \nEmerging market currencies, including the rand, have recently benefited from a \nweaker US dollar and indications of continued accommodative monetary policy in \nadvanced economies, but they remain vulnerable to changes in investor sentiment. \nThe rand also remains sensitive to domestic growth prospects, political developments \nand policy settings. \nMPC Statement January 17th, 2019 \nPage 4 \n \nThe domestic growth outlook remains sluggish. Although, GDP increased by 2.2% in \nthe third quarter of 2018, private sector fixed investment remains weak and production \nin key sectors is volatile. The SARB now expects growth in 2018 to have averaged \n0.7% (up from 0.6% in November). The growth forecast for 2019 is 1.7% (down from \n1.9%), it is unchanged at 2.0% for 2020 and increases to 2.2% in 2021. At these \ngrowth rates, the negative output gap is expected to close in the first quarter of 2021. \nThe Absa Purchasing Managers’ Index reached 50.7 index points in December driven \nby improved expectations about new sales orders and business activity, however the \nemployment sub-index receded to its lowest levels since 2014. Although the SARB’s \ncomposite leading business cycle indicator increased somewhat in October, it has \nbeen trending lower since early 2018. The RMB/BER Business Confidence Index also \nremains significantly below the neutral level of 50 index points, broadly aligned with \nweakness in gross fixed capital formation. Sustained growth in fixed capital formation \nis needed to raise potential growth and to make in-roads into unemployment. \nHousehold consumption expenditure remains constrained by weak employment \ngrowth. Over the forecast period, consumption expenditure growth is expected to \nremain around 2%, on the back of moderate increases in real wages and household \ndisposable income. \nThe MPC assesses the risks to the growth forecast to be on the downside. Weak \nbusiness and consumer confidence continue to weigh on fixed capital formation. This \ncould be exacerbated by the possibility of protracted electricity supply constraints. \nPrudent macroeconomic policies are essential to ensuring that growth is sustainable \nand the economy is more resilient to shocks. Furthermore, the Committee remains of \nthe view that current challenges facing the economy are primarily structural in nature. \nMPC Statement January 17th, 2019 \nPage 5 \n \nThe implementation of credible structural policy initiatives that make a marked impact \non potential output and employment and lower the cost structure of the economy \nshould be prioritised. \nThe MPC has taken note of the improved inflation outlook, especially in the near-term. \nOver the forecast period, inflation is expected to remain within the inflation target \nrange, averaging 5.3% in 2020 and 4.8% in 2021. \nThe overall risks to the inflation outlook are assessed to be moderately on the upside. \nThe risks include administered prices such as electricity and water tariffs, rising \ndomestic food prices in the outer years, changing investor sentiment towards \nemerging markets, moderation in global growth and volatile international oil prices. \nAgainst this backdrop, the MPC unanimously decided to keep the repurchase rate \nunchanged at 6,75% per year. \nThe Committee continues to assess the stance of monetary policy to be broadly \naccommodative. Monetary policy actions will continue to focus on anchoring inflation \nexpectations closer to the mid-point of the inflation target, in the interest of balanced \nand sustainable growth. The approach of the MPC is to look through the first-round \neffects and focus on the possible second-round effects of supply side shocks. As \npreviously indicated, any future policy adjustments will be data dependent. \nThe implied path of policy rates generated by the Quarterly Projection Model is for one \nhike of 25 basis points, reaching 7.0% by the end of 2021. The forecasted endogenous \ninterest rate path is built into our growth and inflation outlook. As emphasised \npreviously, the implied path remains a broad policy guide which can and does change \nMPC Statement January 17th, 2019 \nPage 6 \n \nin either direction between meetings in response to new developments and changing \nrisks. \nLesetja Kganyago \nGOVERNOR \nThe next statement of the Monetary Policy Committee will be released on \n28 March 2019. \n \nContact person: \nZiyanda Mtshali \n012 399 7966 \nmedia@resbank.co.za", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/January-MPC-Statement_17-January-2019-FINAL.pdf"}

dedup/cb_requests/0b8f395bd8d79c549782f041db571ae2.json

@@ -0,0 +1 @@
+{"url": "https://www.resbank.co.za/en/home/publications/publication-detail-pages/speeches/speeches-by-governors/2025/kganyago-g20-challenges", "source": "SARB", "fetch_date": "2026-04-27", "date": "2025-04-22", "token_count": 181}

dedup/cb_requests/0bc7b5f769210ab4c4126225eb222044.json

@@ -0,0 +1 @@
+{"doc_id": "0bc7b5f769210ab4c4126225eb222044", "text": "[Date] \n \n \n \n \nAUGUST 2016 \n \n \ni \n \n \nTABLE OF CONTENTS \nSELECTED ECONOMIC INDICATORS ________________________________________ 1 \nSTOCK MARKET DEVELOPMENTS __________________________________________ 2 \nMONETARY DEVELOPMENTS ______________________________________________ 3 \nINFLATION OUTTURN ______________________________________________________ 4 \nAnnual Inflation __________________________________________________________________ 4 \nMonthly Inflation _________________________________________________________________ 5 \nNATIONAL PAYMENTS SYSTEM ____________________________________________ 5 \nZimbabwe Electronic Transfer Settlement System (ZETSS) ______________________________ 5 \nCash Transactions _________________________________________________________________ 5 \nMobile and Internet Based Transactions ______________________________________________ 5 \nCard Based Transactions ___________________________________________________________ 6 \nCheque Transactions ______________________________________________________________ 6 \n \n \n \n \n \n \n \n1 \n \n \n \n \n \n2016 \nJuly \n2016 \nAugust \nMonth-on- \nMonth \nChange \nZ.S.E. Mining Index1 \n25.7 \n26.3 \n2.33% \nZ.S.E. Industrial Index1 \n98.8 \n99.3 \n0.51% \nNational Payment System Transactions \n(US$ millions) \n6 320.18 \n6 359.91 \n0.63% \nMoney Supply (US$ millions)2 \n5 138.0 \n5 227.8 \n1.75% \nMoney Supply (M3) Annual Growth2 (%) \n14.84 \n16.87 \n \nYearly Inflation3 (%) \n-1.6 \n-1.4 \n \nMonthly Inflation3 (%) \n-0.19 \n-0.13 \n \nNominal Lending Rate2 (% per annum) \n4.0-18.0 \n4.0-18.0 \n \nSources: \n1 Zimbabwe Stock Exchange (ZSE) \n2 Reserve Bank of Zimbabwe (RBZ) \n3 Zimbabwe National Statistics Agency (ZIMSTAT) \nSELECTED ECONOMIC INDICATORS \n \n \n \n2 \n \nSTOCK MARKET DEVELOPMENTS \n \nDuring the month of August 2016, major stock \nmarkets in the USA, Europe and Asia recorded \ngains. Trading in leading African stock markets \nwas mixed, with gains registered in Egypt, \n2.19%; South Africa, 1.34%; and Tunisia, \n1.27%. Losses were, however, recorded in \nKenya, -5.23%; Nigeria, -1.47%; and Morocco, \n-0.22%. \nThe Zimbabwe Stock Exchange (ZSE) was \nbullish in August 2016, following positive \ntrading in selected heavy weight counters. The \nmainstream index increased by 0.42% to close \nthe month of August 2016 at 99.26 points, from \n98.84 points in the previous month. The \nresources index also increased by 2.33%, to close \nthe month under review at 26.32 points. \n \nThe volume of shares traded fell by 27.89% to \n41 264 438 shares in August 2016, from \n57 222 624 shares in July 2016. \n \nMarket turnover declined from US$11.84 million \nin July 2016, to US$7.08 million during the \nmonth of August 2016. This partly reflected \ncautious trading on the ZSE by investors. \n \nNet foreign capital outflows amounted to \nUS$4.31 million in August 2016, down from \nUS$5.2 million registered in the previous month. \nThis was on account of a slowdown in foreign \ninvestor disinvestments from the ZSE. \n \n \nSource: Zimbabwe Stock Exchange, 2016 \nMarket capitalisation increased by 0.45%, from \nUS$2.72 billion recorded in July 2016 to \nUS$2.73 billion in August 2016. This followed \npositive trading in selected counters. \n \n \n \n \n \n0\n20\n40\n60\n80\n100\n120\n140\n160\n31-Aug-15\n30-Sep-15\n31-Oct-15\n30-Nov-15\n31-Dec-15\n31-Jan-16\n29-Feb-16\n31-Mar-16\n30-Apr-16\n31-May-16\n30-Jun-16\n31-Jul-16\n31-Aug-16\nFigure 1: ZSE Indices\nIndustrial\nMining\n0.00\n5.00\n10.00\n15.00\n20.00\n25.00\n0.00\n50.00\n100.00\n150.00\n200.00\n250.00\n300.00\nJul-15\nAug-15\nSep-15\nOct-15\nNov-15\nDec-15\nJan-16\nFeb-16\nMar-16\nApr-16\nMay-16\nJun-16\nJul-16\nAug-16\nVALUES TRADED (US$ MILLIONS)\nVOLUMES TRADED (MILLIONS)\nFigure 2: ZSE: Monthly Volumes \nFigure 2: ZSE: Monthly Volumes and Values Trad\nand Values Traded\nVolume\nTurnover\nSource: Zimbabwe Stock Exchange, 2016 \n \n \n \n3 \n \nMONETARY DEVELOPMENTS \nThe annual growth in money supply stood at \n16.87% in August 2016, reflecting a 2.03 \npercentage point increase from 14.84% recorded \nin July 2016. This was attributable to increases in \nthe following classes of deposits: demand, \n30.32%; savings, 11.62% and under 30-day, \n1.84%, respectively. Over 30-day deposits, \nhowever, recorded a decline of 0.79% during the \nsame period. Broad money was largely \ncomposed of deposits that are short term in \nnature, during the period under review. \n \nSource: Reserve Bank of Zimbabwe, 2016 \nIn terms of proportions, demand deposits \nconstituted 55.80% of total deposits; followed by \nover 30-days deposits, 18.95%; under 30-days \ndeposits, 12.92%; and savings deposits, 12.33%. \nOn a monthly basis, the growth in broad money \nsupply \nincreased \nby \n1.75%, \nfrom \nUS$5 \n138.0 \nmillion \nin \nJuly \n2016, \nto \nUS$5 227.8 million in August 2016. \n \n \nAnnual banking sector credit increased from \nUS$5 051.04 million in August 2015 to \nUS$5 800.72 million in August 2016. On a \nmonth-on-month basis, banking sector credit \ndeclined by 0.10%, from US$5 707.01 million \nrecorded in July 2016. \nCredit to the private sector declined by 7.12% to \nUS$3 487.63 million in August 2016, from \nUS$3 754.82 million in August 2015. This was a \nsixth consecutive year-on-year decline since \nMarch 2016. \nOn a month-on-month basis, credit to the private \nsector \ndecreased \nby \n0.02%, \nfrom \nUS$3 \n488.27 \nmillion \nin \nJuly \n2016 \nto \nUS$3 487.63 in August 2016. Developments on \nprivate sector continued to reflect cautionary \nlending \nby \nbanks, \nin \nan \nenvironment \ncharacterised by a slowdown in economic \nactivity. \n \nThe distribution of credit to the private sector \nwas as follows; loans and advances, 85.96%; \n-2\n0\n2\n4\n6\n8\n10\n12\n14\n16\n18\n -\n 1.0\n 2.0\n 3.0\n 4.0\n 5.0\n 6.0\nNov-13\nFeb-14\nMay-14\nAug-14\nNov-14\nFeb-15\nMay-15\nAug-15\nNov-15\nFeb-16\nMay-16\nAug-16\n%\nUS$ BILLIONS\nFigure 3: Money Supply\nFigure 3: Money Supply\nM3\nM3 Annual Growth rate\nUnder 30 \nDays\n12.9%\nOver 30 \nDays\n18.9%\nDemand\n55.8%\nsavings\n12.3%Figure 4: Bankin\nFigure 4: Banking Sector Deposits August 2016\nDeposits August 2016\nSource: Reserve Bank of Zimbabwe, 2016 \n \n \n \n4 \n \nmortgages, 9.98%; other investments, 2.74%; \nbankers \nacceptances, \n0.23%; \nand \nbills \ndiscounted, 0.10%. \n \nSource: Reserve Bank of Zimbabwe, 2016 \n \nThe sectoral distribution of private sector credit was \nas follows: households, 23.95%; agriculture, \n18.75%; \nservices, \n17.26%; \nmanufacturing, \n15.94%; distribution, 11.10%; mining, 5.25%; \nfinancial organisations and investments, 3.08%; \ntransport \nand \ncommunications, \n2.64%; \nconstruction, 1.63%; and other, 0.39%. \n \nPrivate sector credit was utilised for other \nrecurrent and working capital expenditures, \n34.08%; inventory build-up, 32.73%; consumer \ndurables, 15.94%; fixed capital investment, \n15.48%; and pre and post shipment financing, \n1.77%. \nINFLATION OUTTURN \n \nAnnual Inflation \n \nThe annual headline inflation accelerated to \n-1.4% in August 2016, gaining 0.2 percentage \npoints on the -1.6% recorded in July 2016. The \nincrease in inflation was largely driven by both \nfood and non-food inflation. \n \n \nSource: ZIMSTAT, 2016 \nYear–on-year food inflation stood at -3.3% in \nAugust 2016, up from the -3.8% recorded in July \n2016. This was underpinned by increases in \nprices of sugar, jam, honey and confectioneries. \n \nAnnual non-food inflation also increased from \n-0.6% in July 2016 to -0.5% in August 2016, \nlargely attributable to increases in education as \nwell as restaurants and hotels. The increases \nLoans & Advances\n86.0%\nMortgages\n10.0%\nBills \nDiscounted\n0.1%\nBankers \nacceptances\n0.2%\nOther \ninvestments\n3.7%Figure 5: Distribution of Private \nFigure 5: Distribution of Private Sector Credit\nSector Credit\n-5\n-4\n-3\n-2\n-1\n0\n1\n2\nFigure 6: Annual Inflation \n(%)\nHeadline Inflation\nFood\nNon Food\n \n \n \n5 \n \nwere, however, partially offset by declines in \nfurniture, \nhousehold \nequipment \nand \nmaintenance, transport and energy. \n \nMonthly Inflation \n \n \nMonth-on-month inflation stood at -0.13% in \nAugust 2016, a 0.06 percentage points increase, \ncompared to the -0.19% recorded in July 2016. \nMonthly inflation was largely driven by \nincreases in food inflation. \n \nMonthly food inflation firmed from -0.52% in \nJuly 2016 to -0.31% in August 2016, on account \nof increases in prices of fish and sea food; milk, \ncheese and eggs; oils and fats; and fruits. The \nincreases were, however, partially offset by \ndeclines in bread and cereals; meat; and \nvegetables. \n \nNon-food inflation however, marginally declined \nfrom -0.03% in July 2016 to -0.04% in August \n2016. This followed declines in furniture and \nhousehold equipment; clothing and footwear; \nand transport, among others. The declines were \npartially \noffset \nby \nincreases \nin \nhealth; \ncommunication; and miscellaneous goods and \nservices. \n \nNATIONAL PAYMENTS SYSTEM \n \nTransactions processed through the National \nPayment \nSystem \n(NPS) \nstood \nat \nUS$6 359. 91 million in August 2016, up from \nUS$6 319.33 million in July 2016. \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \n \nThe value of transactions processed through the \nRTGS system increased by 0.4% to US$3.93 \nbillion in August 2016, from US$3.91 billion \nrecorded in July 2016. RTGS transactions \nvolumes also registered a 5% increase from \n242 373 in July 2016 to 253 938 during the period \nunder review. \nSource: Reserve Bank of Zimbabwe, 2016 \n \nCash transactions \n \nCash transactions declined by 8%, from \nUS$531.45 \nmillion \nin \nJuly \n2016 \nto \nUS$ 491.19 million during the month of August \n2016. \nMobile and Internet Based Transactions \n \nThe total value of mobile and internet based \ntransactions closed the month of August 2016 at \nUS$766.01 million, from US$709.26 million in \nJuly 2016. \n -\n 0.5\n 1.0\n 1.5\n 2.0\n 2.5\n 3.0\n 3.5\n 4.0\n 4.5\n 5.0\nAug-13\nDec-13\nApr-14\nAug-14\nDec-14\nApr-15\nAug-15\nDec-15\nApr-16\nAug-16\n -\n 50\n 100\n 150\n 200\n 250\n 300\nVALUE IN US$ BILLIONS\nVOLUME IN THOUSANDS\nFigure 7: ZE\nFigure 7: ZETSS Volumes and Values\nValues\nVolume\nValue\n \n \n \n6 \n \nCard Based Transactions \n \nCard based transactions also decreased from \nUS$406.35 \nmillion \nin \nJuly \n2016, \nto \nUS$403.95 million in August 2016. \n \nCheque Transactions \n \nThe value of cheque transactions declined by \n14%, to close the month under review at \nUS$7.9 million. \n \nRESERVE BANK OF ZIMBABWE \nOCTOBER 2016\n \n \n \n7 \n \n \nStatistical Tables \n \n1. Monetary Statistics \n \n1.1 Monetary Aggregates \n \n \n \n \n \n 9 \n \n1.2 Broad Money Survey \n \n \n \n \n \n10 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n11 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n12 \n \n 2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 13 \n \n2.2 Sectoral Analysis of Commercial Banks Deposits \n \n14 \n \n \n3. External Statistics \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n15 \n \n4. Interest Rates \n \n4.1 Lending Rates \n \n \n \n \n \n \n16 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n17 \n \n5. Inflation \n \n5.1 Monthly Inflation \n \n \n \n \n \n18 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n19 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n20 \n \n7. Commercial Banks \n \n7.1 Assets \n \n \n \n \n \n \n \n21 \n \n7.2 Liabilities \n \n \n \n \n \n \n22 \n \n \n \n \n8 \n \n \n8. Merchant Banks \n \n8.1 Assets \n \n \n \n \n \n \n \n23 \n \n8.2 Liabilities \n \n \n \n \n \n \n24 \n \n 9. Building Societies \n \n9.1 Assets \n \n \n \n \n \n \n \n25 \n \n9.2 Liabilities \n \n \n \n \n \n \n26 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n27 \n \n11. Savings with Financial Institutions \n \n \n \n \n28 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n29 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n \n \n13.1 Values of Transactions \n \n \n \n \n30 \n \n13.2 Volumes of Transactions \n \n \n \n \n31 \n \n \n \n \n \n \n \n \n \n \n9 \n \n \n \n \n \n \n \n \n \n \nAugust\nSeptember\nOctober\nNovember\nDecember\nJanuary\nFebruary\nMarch\nApril\nMay\nJune\nJuly\nAugust\nBond Coins\n3,016.3\n3,425.5\n4,445.3\n5,789.3\n7,127.0\n7,355.5\n7,457.3\n7,612.1\n7,758.5\n8,005.8\n8,106.8\n8,243.2\n8,854.6\nRBZ Demand Deposits\n3,480.3\n3,478.9\n3,485.7\n2,470.9\n726.0\n1,832.8\n2,086.4\n1,423.3\n5,061.6\n3,602.5\n3,701.2\n9,125.9\n4,363.6\nComm. Banks Dem. Deposits\n2,168,409.0\n2,166,471.3\n2,149,026.8\n2,358,226.5\n2,362,538.7\n2,430,098.0\n2,409,398.2\n2,510,951.1\n2,575,573.8\n2,644,003.9\n2,743,164.8\n2,690,977.0\n2,849,745.9\nMerchant Banks Dem. Deposits\n62,949.9\n62,157.8\n61,925.6\n58,750.3\n58,524.4\n58,511.7\n58,304.5\n58,315.0\n58,346.2\n58,364.1\n58,364.1\n58,350.7\n58,341.8\nM1\n2,237,855.5\n2,235,533.5\n2,218,883.4\n2,425,237.0\n2,428,916.0\n2,497,798.0\n2,477,246.4\n2,578,301.4\n2,646,740.1\n2,713,976.2\n2,813,336.8\n2,766,696.7\n2,921,305.9\nComm. Banks Savings Deposits\n227,534.6\n230,176.6\n231,465.3\n259,856.4\n266,166.6\n280,598.5\n291,567.7\n290,006.1\n299,136.9\n282,597.7\n270,213.2\n346,442.2\n289,814.6\nBuilding Soc. Savings Deposits\n277,271.4\n230,176.6\n294,208.3\n308,439.9\n296,041.8\n297,854.8\n305,980.4\n311,092.0\n317,629.3\n332,211.2\n313,154.7\n313,391.2\n278,711.3\nP O S B Savings Deposits\n71,554.2\n77,161.5\n73,380.5\n76,307.7\n72,505.8\n73,735.7\n73,847.9\n74,405.9\n80,067.6\n79,203.4\n79,502.7\n75,483.3\n74,820.4\nComm. Banks U-30 Day Deposits\n505,981.9\n613,287.8\n565,136.6\n565,317.5\n650,234.3\n597,527.6\n588,796.4\n506,719.1\n574,185.2\n674,068.8\n546,356.7\n552,519.8\n629,146.7\nMerchant Banks U-30 Day Deposits\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\nBuilding Soc. U- 30 Day Deposits\n156,077.5\n190,548.2\n144,911.8\n127,578.2\n165,352.5\n131,683.2\n123,683.2\n108,106.2\n171,635.9\n118,100.1\n134,140.9\n90,761.4\n45,096.0\nM2\n3,476,275.0\n3,576,884.3\n3,527,985.9\n3,762,736.7\n3,879,217.1\n3,879,197.9\n3,861,122.0\n3,868,630.7\n4,089,395.1\n4,200,157.3\n4,156,705.0\n4,145,294.6\n4,238,894.9\nComm. Banks O-30 Day Deposits\n622,991.6\n611,608.0\n628,213.7\n503,244.7\n420,265.1\n424,676.9\n449,879.1\n573,809.8\n519,330.5\n438,306.5\n554,032.6\n522,523.5\n458,749.8\nMerchant Banks O-30 Day Deposits\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\nBuilding Soc. O- 30 Day Deposits\n340,974.7\n303,177.5\n409,350.0\n444,267.1\n432,822.3\n413,975.8\n421,729.2\n438,461.8\n361,565.5\n374,720.6\n390,530.0\n429,065.6\n488,344.9\nBuilding Soc. Other Share Deposits\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\nP O S B Time Deposits\n21,540.3\n24,019.0\n24,010.2\n23,668.6\n21,851.3\n25,326.6\n24,881.2\n24,640.9\n23,321.3\n26,430.9\n28,174.9\n29,891.3\n30,579.6\nM3\n4,473,048.2\n4,526,955.4\n4,600,826.4\n4,745,183.7\n4,765,422.3\n4,754,443.8\n4,768,878.1\n4,916,809.8\n5,004,879.1\n5,050,881.9\n5,140,709.1\n5,138,041.5\n5,227,835.9\nSource:Reserve Bank of Zimbabwe, 2016\n2015\n2016\nTABLE 1.1 : MONETARY AGGREGATES\n US$ thousands\n \n \n \n10 \n \n \n \nAUGUST\nSEPT\nOCT\nNOV\nDEC\nJAN\nFEB\nMAR\nAPR\nMAY\nJUNE\nJULY\nAUGUST\nNET FOREIGN ASSETS \n-727,785.7\n-715,689.4\n-822,417.2\n-771,548.0\n-667,684.9\n-688,591.4\n-780,139.7\n-728,823.7\n-803,152.0\n-897,595.5\n-682,718.0\n-569,021.5\n-572,883.4\n Assets\n867,447.1\n889,018.6\n784,372.6\n667,350.7\n792,677.3\n758,634.6\n679,001.9\n687,149.8\n637,447.5\n623,538.1\n667,173.2\n663,489.3\n661,991.9\n Reserve Bank (RBZ)\n360,705.6\n360,255.9\n335,321.7\n300,180.5\n433,452.9\n424,269.1\n390,810.3\n334,552.7\n354,608.4\n407,381.8\n389,004.0\n380,890.0\n352,410.1\n Deposit Money Banks (DMBs) \n428,702.8\n448,219.8\n387,305.0\n310,522.6\n300,320.1\n302,773.5\n259,017.9\n318,832.0\n269,044.4\n200,060.3\n256,915.8\n267,266.8\n297,214.3\n Other Banking Institutions (OBIs) \n78,038.7\n80,542.9\n61,745.9\n56,647.6\n58,904.3\n31,592.0\n29,173.7\n33,765.2\n13,794.7\n16,096.0\n21,253.4\n15,332.5\n12,367.6\n Liabilities \\2\n-1,595,232.7\n-1,604,707.9\n-1,606,789.8\n-1,438,898.6\n-1,460,362.2\n-1,447,226.0\n-1,459,141.6\n-1,415,973.5\n-1,440,599.5\n-1,521,133.6\n-1,349,891.2\n-1,232,510.8\n-1,234,875.3\n RBZ\n1,056,817.9\n1,057,080.8\n1,069,972.4\n1,048,664.8\n1,096,800.8\n1,090,485.7\n1,117,823.6\n1,075,644.5\n1,117,787.5\n1,184,783.0\n1,042,014.2\n935,954.6\n944,035.4\n DMBs\n490,791.1\n504,085.0\n494,458.0\n347,787.2\n320,578.9\n313,434.2\n299,029.1\n303,288.3\n285,945.2\n300,200.0\n272,477.2\n260,900.2\n257,249.7\n OBIs\n47,623.8\n43,542.1\n42,359.5\n42,446.6\n42,982.5\n43,306.1\n42,288.9\n37,040.8\n36,866.8\n36,150.7\n35,399.8\n35,656.0\n33,590.3\nNET DOMESTIC ASSETS \n5,200,833.8\n5,301,713.1\n5,423,243.6\n5,516,731.6\n5,433,107.3\n5,443,035.2\n5,549,017.8\n5,645,633.4\n5,808,031.0\n5,948,477.4\n5,823,427.1\n5,707,063.0\n5,800,719.3\nDOMESTIC CREDIT\n5,029,107.1\n5,079,842.4\n5,196,662.7\n5,345,272.0\n5,535,396.4\n5,476,442.4\n5,489,962.3\n5,542,678.3\n5,623,621.7\n5,627,841.4\n5,719,589.2\n5,759,394.1\n5,753,421.7\n Claims on Government (net) \n1,192,006.7\n1,182,354.0\n1,253,218.7\n1,359,827.4\n1,564,354.7\n1,530,792.2\n1,671,934.4\n1,691,128.7\n1,804,057.3\n1,834,775.4\n1,948,003.0\n2,028,573.1\n2,026,952.7\n RBZ\n244,517.6\n254,297.8\n271,997.2\n314,096.4\n331,552.1\n355,230.5\n418,006.5\n446,003.9\n456,287.0\n468,433.1\n508,837.0\n552,972.5\n583,837.7\n DMBs\n860,228.9\n838,982.9\n890,154.0\n954,556.6\n1,119,720.1\n1,068,095.4\n1,153,295.1\n1,166,120.4\n1,226,195.8\n1,241,961.8\n1,305,509.6\n1,342,573.5\n1,320,529.8\n OBIs\n87,260.2\n89,073.3\n91,067.5\n91,174.4\n113,082.5\n107,466.4\n100,632.7\n79,004.4\n121,574.4\n124,380.4\n133,656.4\n133,027.1\n122,585.2\n Claims on Public Enterprises \n56,508.0\n54,523.7\n84,877.1\n83,806.0\n140,910.1\n145,507.6\n120,445.0\n179,370.7\n185,698.9\n197,207.6\n199,989.6\n242,550.6\n238,843.8\n RBZ\n2,098.7\n2,423.7\n30,362.6\n30,375.1\n79,569.5\n76,732.8\n54,168.2\n70,356.5\n78,226.4\n91,056.2\n99,304.3\n138,657.6\n138,175.0\n DMBs\n53,130.2\n50,787.7\n53,348.0\n52,504.5\n60,202.8\n67,848.4\n65,328.0\n108,062.4\n106,568.6\n105,088.3\n99,643.7\n102,872.2\n99,545.6\n Agri-PEs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Other\n53,130.2\n50,787.7\n53,348.0\n52,504.5\n60,202.8\n67,848.4\n65,328.0\n108,062.4\n106,568.6\n105,088.3\n99,643.7\n102,872.2\n99,545.6\n OBIs\n1,279.1\n1,312.2\n1,166.5\n926.4\n1,137.9\n926.4\n948.9\n951.8\n904.0\n1,063.1\n1,041.6\n1,020.8\n1,123.2\n Claims on Private Sector\n3,780,592.5\n3,842,964.7\n3,858,567.0\n3,901,638.6\n3,830,131.6\n3,800,142.6\n3,697,582.8\n3,672,178.9\n3,633,865.5\n3,595,858.4\n3,571,596.6\n3,488,270.3\n3,487,625.2\n RBZ\n92,768.9\n67,359.3\n75,959.6\n77,442.5\n90,549.5\n93,049.5\n74,614.5\n56,342.7\n58,614.2\n58,864.7\n49,967.1\n50,177.0\n52,542.1\n DMBs\n2,875,477.3\n2,956,930.6\n2,950,844.9\n2,981,759.1\n2,874,287.6\n2,860,825.0\n2,773,512.1\n2,774,147.9\n2,736,322.0\n2,691,318.7\n2,681,469.9\n2,571,743.7\n2,572,338.2\n OBIs\n812,346.3\n818,674.8\n831,762.5\n842,437.0\n865,294.5\n846,268.2\n849,456.3\n841,688.3\n838,929.3\n845,675.0\n840,159.6\n866,349.6\n862,744.9\nOTHER ITEMS (NET) \n171,726.7\n221,870.7\n226,580.9\n171,459.6\n-102,289.2\n-33,407.2\n59,055.5\n102,955.1\n184,409.4\n320,636.1\n103,837.9\n-52,331.0\n47,297.6\nBROAD MONEY (M3) \n4,473,048.2\n4,586,023.7\n4,600,826.4\n4,745,183.7\n4,765,422.3\n4,754,443.8\n4,768,878.1\n4,916,809.8\n5,004,879.1\n5,050,881.9\n5,140,709.1\n5,138,041.5\n5,227,835.9\nSource:Reserve Bank of Zimbabwe, 2016\n1. Building societies and P. O. S. B.\n2. Sign reversal.\n2015\n2016\nTABLE 1.2 : BROAD MONEY SURVEY\nUS$ thousands\n \n \n \n11 \n \n \nAUGUST\nSEPT\nOCT\nNOV\nDEC\nJAN\nFEB\nMAR\nAPR\nMAY\nJUNE\nJULY\nAUGUST\nNET FOREIGN ASSETS \n-4,012.9\n12,096.3\n-106,727.8\n50,869.2\n103,863.0\n-20,906.5\n-91,548.3\n51,316.0\n-74,328.3\n-94,443.6\n214,877.6\n113,696.5\n-3,862.0\n Assets\n23,757.8\n21,571.5\n-104,646.0\n-117,021.9\n125,326.6\n-34,042.7\n-79,632.7\n8,148.0\n-49,702.3\n-13,909.4\n43,635.1\n-3,683.9\n-1,497.4\n Reserve Bank (RBZ)\n-35,065.4\n-449.7\n-24,934.2\n-35,141.2\n133,272.4\n-9,183.8\n-33,458.8\n-56,257.6\n20,055.8\n52,773.4\n-18,377.7\n-8,114.0\n-28,479.9\n Deposit Money Banks (DMBs)\n67,185.1\n19,517.0\n-60,914.8\n-76,782.4\n-10,202.5\n2,453.4\n-43,755.6\n59,814.1\n-49,787.5\n-68,984.1\n56,855.5\n10,351.0\n29,947.5\n Other Banking Institutions (OBIs) \\1\n-8,361.9\n2,504.2\n-18,797.0\n-5,098.3\n2,256.7\n-27,312.3\n-2,418.3\n4,591.5\n-19,970.5\n2,301.3\n5,157.4\n-5,920.9\n-2,964.9\n Liabilities \\2\n-27,770.7\n-9,475.2\n-2,081.9\n167,891.2\n-21,463.6\n13,136.2\n-11,915.5\n43,168.1\n-24,626.0\n-80,534.1\n171,242.4\n117,380.4\n-2,364.5\n RBZ\n16,858.2\n262.9\n12,891.6\n-21,307.6\n48,136.0\n-6,315.1\n27,337.9\n-42,179.1\n42,143.1\n66,995.5\n-142,768.8\n-106,059.7\n8,080.8\n DMBs\n11,835.0\n13,293.9\n-9,627.0\n-146,670.7\n-27,208.4\n-7,144.6\n-14,405.1\n4,259.2\n-17,343.1\n14,254.8\n-27,722.8\n-11,577.0\n-3,650.5\n OBIs\n-922.5\n-4,081.6\n-1,182.7\n87.1\n535.9\n323.5\n-1,017.2\n-5,248.1\n-174.0\n-716.1\n-750.9\n256.2\n-2,065.7\nNET DOMESTIC ASSETS \\3\n3,100.7\n100,879.2\n121,530.5\n93,488.0\n-83,624.4\n9,928.0\n105,982.5\n96,615.7\n162,397.6\n140,446.4\n-125,050.3\n-116,364.1\n93,656.3\nDOMESTIC CREDIT\n47,595.6\n50,735.3\n116,820.4\n148,609.3\n190,124.4\n-58,954.0\n13,519.9\n52,716.0\n80,943.4\n4,219.7\n91,747.9\n39,804.8\n-5,972.4\n Claims on Government (net) \n31,961.9\n-9,652.6\n70,864.7\n106,608.7\n204,527.3\n-33,562.5\n141,142.2\n19,194.3\n112,928.5\n30,718.1\n113,227.7\n80,570.1\n-1,620.4\n RBZ\n1,434.7\n9,780.2\n17,699.4\n42,099.2\n17,455.7\n23,678.3\n62,776.1\n27,997.4\n10,283.1\n12,146.1\n40,403.9\n44,135.6\n30,865.2\n DMBs\n14,363.6\n-21,245.9\n51,171.1\n64,402.6\n165,163.5\n-51,624.8\n85,199.8\n12,825.3\n60,075.4\n15,766.0\n63,547.8\n37,063.9\n-22,043.8\n OBIs\n16,163.6\n1,813.1\n1,994.2\n106.9\n21,908.1\n-5,616.0\n-6,833.7\n-21,628.3\n42,570.0\n2,806.0\n9,276.0\n-629.3\n-10,441.9\n Claims on Public Enterprises \n7,866.2\n-1,984.3\n30,353.4\n-1,071.0\n57,104.1\n4,597.4\n-25,062.5\n58,925.6\n6,328.3\n11,508.7\n2,782.0\n42,561.0\n-3,706.9\n RBZ\n167.2\n325.0\n27,938.9\n12.5\n49,194.3\n-2,836.7\n-22,564.6\n16,188.3\n7,869.9\n12,829.8\n8,248.1\n39,353.3\n-482.6\n DMBs\n6,619.9\n-2,342.5\n2,560.3\n-843.4\n7,698.3\n7,645.6\n-2,520.4\n42,734.4\n-1,493.8\n-1,480.3\n-5,444.6\n3,228.5\n-3,326.6\n Agri-PEs\n-1,524.5\n-1,525.5\n-1,526.5\n-1,527.5\n-1,528.5\n-9,457.5\n-7,505.4\n-6,965.8\n-6,966.8\n-6,967.8\n-6,968.8\n-6,969.8\n-6,970.8\n Other\n8,144.4\n-816.9\n4,086.8\n684.1\n9,226.8\n17,103.1\n4,985.0\n49,700.2\n5,473.1\n5,487.6\n1,524.3\n10,198.3\n3,644.2\n OBIs\n1,079.1\n33.1\n-145.7\n-240.1\n211.5\n-211.5\n22.5\n3.0\n-47.9\n159.1\n-21.5\n-20.8\n102.4\n Claims on Private Sector\n7,767.5\n62,372.2\n15,602.3\n43,071.6\n-71,507.0\n-29,989.0\n-102,559.8\n-25,403.9\n-38,313.4\n-38,007.1\n-24,261.7\n-83,326.3\n-645.1\n RBZ\n26,046.5\n-25,409.6\n8,600.4\n1,482.9\n13,107.0\n2,500.0\n-18,435.0\n-18,271.7\n2,271.5\n250.4\n-8,897.6\n210.0\n2,365.0\n DMBs\n-34,680.2\n81,453.3\n-6,085.7\n30,914.2\n-107,471.5\n-13,462.6\n-87,312.9\n635.8\n-37,825.9\n-45,003.2\n-9,848.8\n-109,726.3\n594.5\n OBIs\n16,401.3\n6,328.5\n13,087.7\n10,674.5\n22,857.6\n-19,026.4\n3,188.1\n-7,768.0\n-2,759.0\n6,745.7\n-5,515.3\n26,190.0\n-3,604.7\nOTHER ITEMS (NET) \n-44,494.9\n50,144.0\n4,710.2\n-55,121.3\n-273,748.8\n68,882.0\n92,462.7\n43,899.6\n81,454.2\n136,226.7\n-216,798.2\n-156,168.9\n99,628.7\nBROAD MONEY (M3) \n-912.2\n112,975.5\n14,802.7\n144,357.2\n20,238.7\n-10,978.5\n14,434.3\n147,931.7\n88,069.3\n46,002.9\n89,827.2\n-2,667.6\n89,794.3\n Broad Money (M3) \n-0.02%\n2.53%\n0.32%\n3.14%\n0.43%\n-0.23%\n0.30%\n3.10%\n1.79%\n0.92%\n1.78%\n-0.05%\n1.75%\n Domestic Credit \n0.96%\n1.01%\n2.30%\n2.86%\n3.56%\n-1.07%\n0.25%\n0.96%\n1.46%\n0.08%\n1.63%\n0.70%\n-0.10%\n Claims on Private Sector\n0.21%\n1.65%\n0.41%\n1.12%\n-1.83%\n-0.78%\n-2.70%\n-0.69%\n-1.04%\n-1.05%\n-0.67%\n-2.33%\n-0.02%\nSource:Reserve Bank of Zimbabwe, 2016\n1. Finance houses, building societies and P. O. S. B.\n2. Sign reversal.\n3. Net Domestic Assets consist of domestic credit and other items net.\n2015\n2016\nTABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3)\n US$ thousands\n \n \n \n12 \n \n \n \nAUGUST\nSEPT\nOCT\nNOV\nDEC\nJAN\nFEB\nMAR\nAPR\nMAY\nJUNE\nJULY\nAUGUST\nNET FOREIGN ASSETS \n-100,052.1\n-179,455.4\n-223,571.1\n-3,723.5\n51,716.5\n25,599.2\n-16,833.2\n-162,864.4\n-167,123.9\n-216,529.0\n92,794.6\n154,751.3\n154,902.2\n Assets\n-212,180.1\n-216,884.3\n-214,670.1\n-160,163.5\n-103,502.5\n-72,324.8\n-58,831.6\n-128,929.8\n-118,045.9\n-187,662.4\n-259,180.5\n-180,199.9\n-205,455.2\n Reserve Bank (RBZ)\n-50,976.1\n-260,229.1\n-172,834.3\n-34,353.8\n70,271.8\n67,607.2\n109,920.3\n52,382.6\n71,707.8\n104,163.2\n-64,982.0\n-14,881.0\n-8,295.5\n Deposit Money Banks (DMBs)\n-175,757.2\n33,238.4\n-45,036.0\n-106,467.2\n-162,792.6\n-103,107.2\n-141,455.7\n-150,731.3\n-155,323.7\n-218,661.6\n-133,692.5\n-94,250.8\n-131,488.5\n Other Banking Institutions (OBIs) \\1\n14,553.2\n10,106.4\n3,200.1\n-19,342.5\n-10,981.7\n-36,824.9\n-27,296.3\n-30,581.0\n-34,430.0\n-73,164.0\n-60,506.0\n-71,068.1\n-65,671.1\n Liabilities \\2\n112,128.0\n37,428.9\n-8,901.0\n156,440.0\n155,218.9\n97,924.0\n41,998.4\n-33,934.6\n-49,078.0\n-28,866.7\n351,975.1\n334,951.2\n360,357.4\n RBZ\n-60,845.6\n19,340.3\n34,361.2\n18,611.0\n75,864.3\n83,389.7\n108,661.8\n217,549.1\n223,580.0\n315,851.6\n-51,292.1\n-104,005.1\n-112,782.5\n DMBs\n-63,177.9\n-46,073.7\n-13,602.2\n-162,923.9\n-219,844.2\n-170,029.2\n-139,327.3\n-169,893.9\n-163,052.9\n-274,592.8\n-287,828.7\n-218,055.8\n-233,541.4\n OBIs\n11,895.4\n-10,695.4\n-11,858.0\n-12,127.1\n-11,239.0\n-11,284.5\n-11,332.9\n-13,720.6\n-11,449.1\n-12,392.1\n-12,854.3\n-12,890.3\n-14,033.5\nNET DOMESTIC ASSETS \\3\n251,024.5\n376,976.5\n367,137.9\n333,441.6\n310,287.2\n388,719.3\n447,824.3\n709,354.1\n733,158.4\n779,443.5\n503,904.7\n509,329.9\n599,885.4\nDOMESTIC CREDIT\n794,638.6\n812,660.2\n865,327.7\n992,339.8\n1,156,742.8\n1,244,947.0\n1,240,909.9\n1,171,650.7\n1,093,844.4\n809,966.1\n850,516.8\n777,882.6\n724,314.5\n Claims on Government (net) \n754,533.2\n739,918.1\n782,714.1\n897,401.8\n1,048,718.3\n986,766.1\n1,122,755.2\n1,153,453.4\n1,138,798.4\n884,181.4\n873,765.5\n868,528.4\n834,946.0\n RBZ\n270,492.4\n290,213.2\n286,430.3\n328,127.9\n356,615.8\n367,824.5\n430,914.6\n468,278.0\n357,909.4\n370,585.4\n417,029.5\n309,889.6\n339,320.1\n DMBs\n448,362.7\n412,213.7\n457,069.2\n511,078.6\n631,757.3\n563,398.7\n643,214.9\n665,775.9\n727,359.2\n457,533.3\n401,397.3\n496,708.2\n460,300.9\n OBIs\n35,678.2\n37,491.3\n39,214.6\n58,195.3\n60,345.2\n55,543.0\n48,625.8\n19,399.5\n53,529.8\n56,062.7\n55,338.7\n61,930.5\n35,325.0\n Claims on Public Enterprises \n-13,816.8\n-17,867.0\n12,502.1\n17,145.1\n74,160.0\n80,539.8\n51,500.7\n107,827.5\n83,224.6\n92,901.3\n146,841.4\n193,908.8\n182,335.8\n RBZ\n2,098.7\n2,423.7\n30,362.6\n30,375.1\n79,569.5\n76,732.8\n54,168.2\n70,356.5\n77,489.1\n89,969.1\n98,115.2\n136,726.1\n136,076.3\n DMBs\n-17,194.6\n-21,602.9\n-19,027.0\n-14,156.5\n-6,547.4\n2,880.7\n-3,616.3\n38,245.6\n5,825.7\n2,652.3\n48,389.8\n56,361.9\n46,415.4\n Agri-PEs\n-1,514.5\n-1,515.5\n-1,515.5\n-1,516.5\n-1,517.5\n-1,518.5\n-1,519.5\n-1,520.5\n-1,521.5\n-1,522.5\n-1,523.5\n-1,524.5\n-1,525.5\n Other\n-15,680.0\n-20,087.4\n-17,511.5\n-12,639.9\n-5,029.8\n4,399.2\n-2,096.7\n39,766.1\n7,347.3\n4,174.9\n49,913.3\n57,886.4\n47,940.9\n OBIs\n1,279.1\n1,312.2\n1,166.5\n926.4\n1,137.9\n926.4\n948.9\n-774.5\n-90.2\n279.9\n336.4\n820.8\n-155.9\n Claims on Private Sector\n53,922.1\n90,609.0\n70,111.5\n77,793.0\n33,864.5\n177,641.0\n66,654.0\n-89,630.2\n-128,178.6\n-167,116.6\n-170,090.0\n-284,554.6\n-292,967.3\n RBZ\n58,043.6\n32,634.0\n41,234.4\n42,717.2\n55,824.2\n58,324.2\n39,889.2\n24,933.7\n27,056.2\n27,709.1\n-1,722.7\n-16,545.4\n-40,226.8\n DMBs\n-141,232.5\n-64,459.1\n-65,906.0\n-55,036.1\n-135,814.0\n25,822.4\n-50,903.8\n-186,744.5\n-212,671.7\n-269,599.0\n-219,160.2\n-338,413.9\n-303,139.1\n OBIs\n137,110.9\n122,434.1\n94,783.1\n90,111.8\n113,854.3\n93,494.4\n77,668.6\n72,180.6\n57,436.9\n74,773.4\n50,792.9\n70,404.6\n50,398.7\nOTHER ITEMS (NET) \n-543,614.1\n-435,683.7\n-498,189.8\n-658,898.2\n-846,455.6\n-856,227.7\n-793,085.7\n-462,296.6\n-360,686.0\n-30,522.6\n-346,612.1\n-268,552.7\n-124,429.1\nBROAD MONEY (M3) \n150,972.4\n197,521.1\n143,566.8\n329,718.1\n362,003.6\n414,318.5\n430,991.1\n546,489.7\n566,034.5\n562,914.4\n596,699.4\n664,081.2\n754,787.7\nGROWTH RATES\n Broad Money (M3) \n3.5%\n4.5%\n3.2%\n7.5%\n8.2%\n9.5%\n9.9%\n12.5%\n12.8%\n12.5%\n13.1%\n14.8%\n16.9%\n Domestic Credit \n18.8%\n19.0%\n20.0%\n22.8%\n26.4%\n29.4%\n29.2%\n26.8%\n24.1%\n16.8%\n17.5%\n15.6%\n14.4%\n Claims on Private Sector\n1.4%\n2.4%\n1.9%\n2.0%\n0.9%\n4.9%\n1.8%\n-2.4%\n-3.4%\n-4.4%\n-4.5%\n-7.5%\n-7.7%\nSource:Reserve Bank of Zimbabwe, 2016\n1. Finance houses, building societies and P. O. S. B.\n2. Sign reversal.\n3. Net Domestic Assets consist of domestic credit and other items net.\nTABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3)\nUS$ thousands\n2015\n2016\n \n \n \n13 \n \n \n \n \n \n \n \n \nAGRICULTURE\nCONSTRUCTION\nCOMMUNICATION\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATE\nTOTAL\nEND OF\n \n \n \nINVESTMENTS\nORGANISATIONS\n \n \n \n \n2015 \nJan\n541,656.5\n46,681.6\n39,906.8\n445,656.6\n21,454.5\n131,350.1\n466,896.6\n207,686.6\n452,817.5\n47,945.7\n557,066.9\n1,401.2\n2,960,820.4\nFeb\n538,722.0\n42,062.8\n47,395.1\n446,647.8\n21,790.0\n117,681.6\n461,237.6\n214,420.4\n463,884.6\n48,357.0\n544,838.5\n1,416.2\n2,948,453.6\nMar\n549,118.0\n42,010.1\n44,087.2\n448,278.7\n76,302.3\n110,180.3\n473,978.1\n203,327.9\n466,104.7\n48,938.0\n550,140.6\n1,339.6\n3,013,805.6\nApr\n556,457.4\n30,687.3\n44,546.9\n451,852.9\n65,696.1\n72,653.7\n457,797.1\n202,418.2\n518,353.6\n47,653.8\n551,662.8\n990.1\n3,000,770.0\nMay\n577,258.6\n31,400.7\n44,839.1\n456,652.1\n64,792.3\n75,682.2\n460,700.3\n192,377.2\n545,363.4\n50,061.9\n561,058.3\n1,034.4\n3,061,220.5\nJun\n576,485.1\n29,649.0\n56,936.5\n463,750.7\n20,117.9\n91,678.4\n407,949.0\n181,512.7\n512,108.4\n40,839.7\n590,917.1\n965.9\n2,972,910.2\nJul\n589,866.7\n27,447.9\n56,456.1\n474,568.7\n21,025.9\n92,335.6\n418,612.0\n186,238.8\n416,928.9\n41,201.6\n579,629.0\n941.4\n2,905,252.7\nAug\n580,775.3\n28,148.8\n58,618.6\n460,451.4\n22,509.2\n105,466.9\n411,831.6\n176,732.7\n440,470.4\n41,154.5\n571,926.0\n886.9\n2,898,972.1\nSep\n598,429.9\n28,307.9\n59,213.0\n443,604.1\n22,711.9\n102,015.0\n421,228.0\n174,144.2\n467,804.5\n43,051.0\n569,250.1\n929.5\n2,930,689.0\nOct\n609,537.2\n33,868.4\n53,813.7\n466,727.6\n21,566.0\n104,959.3\n447,136.6\n141,401.6\n484,254.8\n40,156.6\n573,330.4\n907.7\n2,977,660.0\nNov\n650,547.2\n28,696.7\n49,784.9\n440,864.2\n12,868.9\n104,288.1\n428,393.1\n152,136.9\n444,207.8\n40,760.5\n543,920.4\n696.2\n2,897,164.8\nDec\n590,610.6\n30,958.8\n44,706.5\n366,799.2\n13,354.6\n87,897.5\n450,208.5\n163,452.9\n475,424.5\n40,154.3\n518,998.3\n527.5\n2,783,093.0\n2016\nJan\n577,684.4\n35,033.6\n35,535.9\n379,618.2\n13,329.2\n68,325.8\n476,677.0\n158,150.5\n410,992.6\n40,295.6\n535,379.3\n380.2\n2,731,402.2\nFeb\n539,562.8\n35,885.1\n37,857.4\n374,835.1\n13,285.9\n63,301.8\n473,970.3\n155,889.4\n415,520.6\n40,862.5\n531,789.5\n365.3\n2,683,125.7\nMar\n586,349.7\n39,180.5\n41,037.5\n371,809.6\n13,397.9\n63,061.4\n444,769.1\n156,209.2\n402,900.5\n44,606.7\n588,882.7\n410.7\n2,752,615.5\nApr\n527,545.8\n46,612.5\n40,624.2\n379,572.0\n13,428.1\n69,469.7\n437,795.4\n142,682.1\n421,335.6\n43,921.4\n645,037.3\n9,410.0\n2,777,434.0\nMay\n522,239.8\n40,194.4\n38,496.8\n358,042.5\n13,280.8\n65,381.2\n439,295.5\n145,180.0\n401,304.1\n41,908.5\n651,719.3\n9,579.0\n2,726,621.9\nJun\n510,016.8\n39,316.9\n36,866.1\n361,138.1\n12,764.5\n68,850.3\n433,145.3\n143,595.6\n476,484.5\n42,179.6\n650,071.4\n9,739.2\n2,784,168.3\nJul\n501,744.6\n43,266.6\n12,746.6\n287,960.5\n11,403.0\n64,344.7\n423,354.4\n141,639.6\n489,050.6\n40,059.9\n652,366.8\n9,804.6\n2,677,741.9\nAug\n498,489.6\n43,265.5\n26,005.4\n295,108.0\n11,957.4\n69,959.8\n423,824.7\n139,556.7\n458,763.3\n44,237.3\n636,726.8\n10,497.1\n2,658,391.5\nSource:Reserve Bank of Zimbabwe,2016\n/1 Including the only merchant bank still in operation.\nTABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1\nUS$ thousands\n \n \n \n14 \n \n \n \n \n \nEND OF\nAGRICULTURE CONSTRUCTION\nCOMMUNICATIONS\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATES\nTOTAL\nINVESTMENTS ORGANISATIONS\n2015\nJan\n155,304.2\n63,950.4\n136,066.9\n349,099.7\n294,145.5\n809,684.0\n314,319.6\n113,452.0\n1,034,514.7\n48,876.5\n606,370.3\n78,746.0\n4,004,529.8\nFeb\n151,740.1\n63,112.6\n109,807.6\n370,581.8\n314,944.7\n784,737.6\n309,307.9\n120,255.1\n1,028,160.1\n43,112.0\n606,650.6\n78,891.2\n3,981,301.2\nMar\n199,484.8\n63,709.2\n116,397.4\n378,460.0\n351,448.0\n762,380.7\n373,911.9\n99,744.6\n912,654.4\n42,478.9\n644,951.3\n72,605.2\n4,018,226.6\nApr\n186,896.3\n65,974.0\n130,284.9\n380,884.8\n330,001.9\n799,952.4\n373,648.3\n109,735.0\n944,772.9\n44,964.9\n653,801.0\n75,850.9\n4,096,767.2\nMay\n185,803.2\n73,167.5\n111,512.1\n523,774.7\n299,659.2\n801,335.5\n419,453.7\n113,355.0\n1,041,392.8\n50,057.9\n619,767.9\n71,388.8\n4,310,668.3\nJun\n187,657.0\n76,777.8\n109,336.0\n498,031.3\n304,087.2\n877,042.8\n338,069.8\n67,556.6\n1,131,497.1\n43,949.0\n651,072.8\n72,166.9\n4,357,244.2\nJul\n180,261.3\n80,536.4\n106,645.3\n452,744.1\n295,611.1\n911,363.8\n360,746.5\n88,518.4\n971,759.9\n53,101.6\n647,215.1\n70,618.8\n4,219,122.4\nAug\n168,075.2\n86,038.9\n108,477.7\n472,875.1\n335,158.3\n784,616.6\n401,830.1\n76,647.0\n1,042,260.4\n55,455.9\n657,177.1\n51,922.5\n4,240,535.0\nSep\n197,641.5\n85,842.6\n112,415.3\n462,925.6\n349,564.2\n831,813.0\n379,121.4\n71,090.0\n1,033,106.7\n53,348.1\n676,308.0\n55,759.2\n4,308,935.5\nOct\n219,922.3\n85,382.0\n116,874.4\n447,200.7\n331,543.6\n821,640.8\n378,568.5\n68,298.7\n1,100,719.7\n55,846.7\n648,757.5\n67,353.2\n4,342,108.3\nNov\n212,806.1\n85,815.7\n98,468.4\n465,089.7\n334,835.6\n846,959.0\n363,754.4\n71,866.2\n1,074,141.8\n56,110.3\n665,421.1\n64,630.3\n4,339,898.7\nDec\n196,092.9\n88,273.0\n102,636.9\n518,411.4\n336,909.2\n864,491.7\n307,845.0\n63,337.5\n1,163,771.1\n57,410.5\n639,985.6\n66,435.7\n4,405,600.5\n2016\nJan\n231,827.3\n101,724.1\n93,544.2\n517,089.2\n325,203.1\n977,272.1\n345,812.2\n62,026.3\n1,083,702.7\n61,755.6\n618,080.1\n58,808.7\n4,476,845.6\nFeb\n226,568.3\n105,747.9\n97,684.4\n525,070.9\n339,839.0\n896,869.2\n326,026.0\n59,381.3\n1,047,904.6\n63,248.3\n634,478.3\n63,017.8\n4,385,835.9\nMar\n243,546.9\n102,238.4\n116,471.1\n582,943.5\n362,058.8\n879,340.8\n368,689.6\n60,514.0\n402,900.5\n62,839.4\n642,779.4\n61,037.6\n4,556,027.1\nApr\n243,151.6\n102,234.0\n112,219.5\n569,660.7\n360,299.5\n907,855.6\n335,068.6\n71,721.0\n1,156,122.6\n63,858.0\n628,901.1\n61,087.0\n4,612,179.4\nMay\n236,180.5\n97,008.6\n120,726.3\n593,284.9\n371,034.5\n923,580.9\n356,500.9\n99,176.4\n1,107,956.8\n61,396.5\n607,501.4\n64,066.3\n4,638,413.9\nJun\n218,386.8\n103,914.2\n134,181.8\n596,904.8\n362,400.2\n973,333.3\n316,490.8\n58,856.9\n1,128,688.7\n72,063.3\n601,813.8\n61,833.2\n4,628,867.8\nJul\n207,280.2\n99,727.9\n138,781.2\n616,359.8\n348,779.7\n1,035,697.0\n370,456.9\n63,986.1\n1,114,413.7\n65,391.9\n622,329.2\n69,058.9\n4,752,262.6\nAug\n233,004.5\n97,248.8\n153,590.8\n578,487.3\n365,366.8\n997,123.0\n356,522.0\n64,413.7\n1,227,979.0\n67,005.8\n621,307.8\n73,076.2\n4,835,125.8\nSource: Reserve Bank of Zimbabwe,2016\n/1 Including the only merchant bank still in operation.\n TABLE 2.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \nUS$ thousands\n \n \n \n15 \n \nEnd Period\n1999\n2000\n2001\n2002\n2003\n2004\n2005\n2006\n2007\n2008\n2009\n2010\n2011\n2012\n2013\n2014\n2015\n(US$ millions)\nLong-Term External Debt\n3,530\n3,227\n3,255\n3,327\n3,644\n3,927\n3,805\n3,965\n4,032\n4,464\n4,951\n5,175\n6,096\n6,607\n7,370\n8,444\n8,426\nGovernment\n2,461\n2,249\n2,328\n2,376\n2,617\n2,844\n2,895\n3,024\n3,054\n3,464\n4,037\n4,095\n4,638\n4,929\n5,012\n4,522\n5,293\nBilateral Creditors\n935\n1,050\n1,115\n1,107\n1,255\n1,455\n1,438\n1,520\n1,520\n1,863\n2,308\n2,325\n2,597\n2,694\n2,928\n2,445\n3,310\nMultilateral Creditors\n1,235\n1,199\n1,213\n1,269\n1,362\n1,389\n1,457\n1,504\n1,524\n1,592\n1,729\n1,770\n2,041\n2,235\n2,084\n2,078\n1,982\nPrivate Creditors\n291\n0\n0\n0\n0\n0\n0\n0\n10\n10\n0\n0\n0\n0\n0\n0\n0\nPublic Enterprises\n543\n534\n568\n616\n698\n714\n709\n766\n790\n825\n857\n938\n1,092\n1,198\n1,356\n1,661\n1,220\nBilateral Creditors\n316\n301\n315\n351\n403\n442\n439\n464\n474\n497\n453\n238\n711\n703\n858\n1,155\n760\nMultilateral Creditors\n224\n233\n253\n265\n295\n272\n270\n302\n316\n327\n403\n700\n382\n495\n498\n506\n460\nPrivate Creditors\n3\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\nMonetary Authorities\n364\n292\n292\n279\n288\n291\n144\n130\n137\n140\n140\n138\n127\n125\n125\n120\n110\nMultilateral Creditors - IMF\n364\n292\n292\n279\n288\n291\n144\n130\n137\n140\n140\n138\n127\n125\n125\n120\n110\nPrivate\n162\n152\n67\n56\n41\n78\n57\n45\n51\n35\n57\n142\n366\n480\n1,002\n2,261\n1,913\nShort-Term External Debt\n532\n298\n167\n183\n169\n144\n173\n281\n387\n226\n1,198\n1,382\n1,289\n890\n1,564\n2,394\n2,258\nSupplier's Credits\n150\n42\n13\n26\n51\n69\n107\n122\n178\n41\n193\n286\n134\n30\n0\n0\n0\nReserve Bank\n642\n642\n618\n614\n614\n587\n587\nPrivate\n382\n256\n154\n157\n118\n75\n66\n159\n209\n185\n363\n454\n537\n246\n950\n1,807\n1,671\nTotal External Debt\n4,062\n3,525\n3,422\n3,510\n3,812\n4,071\n3,978\n4,246\n4,419\n4,690\n6,149\n6,557\n7,385\n7,497\n8,934\n10,838\n10,684\nSource: Ministry of Finance & Economic Development, 2016; & Reserve Bank of Zimbabwe, 2016\nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)\n \n \n \n16 \n \n \nEnd Period\nNominal Lending Rates2\nIndividuals \nCorporate\n2015 \nJan\n6.00-35.00\n14.16 \n9.66 \nFeb\n4.30-33.50\n14.00 \n9.73 \nMar\n4.30-33.50\n13.24 \n8.75 \nApr\n4.30-31.00\n12.71 \n8.84 \nMay\n5.00-31.00\n12.74 \n8.79 \nJun\n5.00-31.00\n11.94 \n8.42 \nJul\n5.00-31.00\n11.86 \n8.56 \nAug\n4.30-26.00\n11.96 \n8.51 \nSep\n4.30-25.00\n11.81 \n8.47 \nOct\n4.00-18.00\n10.98 \n7.28 \nNov\n4.00-16.25\n12.20 \n7.67 \nDec\n6.00-16.00\n11.99 \n7.57 \n2016 \nJan\n6.00-22.00\n12.08 \n7.38 \nFeb\n4.00-22.00\n11.48 \n7.29 \nMar\n4.00-22.00\n11.44 \n7.16 \nApr\n4.00-22.00\n11.50 \n7.20 \nMay\n4.00-18.00\n11.43 \n7.35 \nJun\n4.00-18.00\n11.40 \n7.48 \nJul\n4.00-18.00\n10.69 \n6.79 \nAug\n4.00-18.00\n10.67 \n6.84 \nSource:Reserve Bank of Zimbabwe, 2016\nNotes\n3. Lending rates exclude rates on staff loans. \nTABLE 4.1 LENDING RATES (percent per annum)1\n2. Nominal Lending Rates depict the range of rates quoted by banks.\nCommercial Banks\nWeighted Average Lending Rates 3 \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n \n \n \n17 \n \n \n \nEND OF\nSAVINGS\n3 MONTHS\n2015 \nJan\n0.15-8.00\n3.00-17.00\nFeb\n0.50-12.00\n1.00-17.00\nMar\n0.50-12.00\n1.00-17.00\nApr\n0.30-8.00\n1.00-17.00\nMay\n0.30-8.00\n1.00-17.00\nJun\n0.30-8.00\n1.00-17.00\nJul\n0.30-8.00\n1.00-15.00\nAug\n0.30-8.00\n1.00-15.00\nSep\n0.30-8.00\n1.00-16.00\nOct\n0.50-8.00\n1.00-17.00\nNov\n0.75-8.00\n1.00-17.00\nDec\n0.50-8.00\n0.75-17.00\n2016 \nJan\n0.50-8.00\n0.75-17.00\nFeb\n0.50-8.00\n0.75-17.00\nMar\n0.50-8.00\n0.75-17.00\nApr\n0.50-8.00\n0.75-17.00\nMay\n0.50-8.00\n0.75-17.00\nJun\n0.50-6.00\n0.75-17.00\nJul\n0.50-6.00\n0.75-17.00\nAug\n0.50-6.00\n1.00-17.00\n Source:Reserve Bank of Zimbabwe, 2016\n* The range of rates qouted by banks during the period.\nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)*\nCOMMERCIAL BANKS\n \n \n \n18 \n \n \n \n \nFOOD \nINFLATION\nALL\nALCOHOLIC \nBEVERAGES \nCLOTHING\nHOUSING, \nWATER,\nFURNITURE\nHEALTH\nTRANSPORT\nCOMMUNICATION\nRECREATION \n&\nEDUCATION\nRESTAURANTS \n&\nMISC.\nTOTAL NON\nFOOD & \nITEMS\n& TOBACCO\nFOOTWEAR\nELECTRICTY, \nGAS\nAND\nCULTURE\nHOTELS\nGOODS &\nFOOD\nNON \nALCOHOLIC \nBEVERAGES\n& OTHER\nEQUIPMENT\nSERVICES\nFUELS\nWEIGHTS\n4.38\n6.05\n17.74\n9.91\n2.16\n9.76\n3.41\n2.1\n5.67\n1.38\n3.91\n66.47\n33.53\n100\n2015 \nJan\n-0.04\n-0.01\n0.08\n0.07\n0.06\n-0.97\n-13.41\n0.02\n-0.08\n-0.48\n0.30\n-0.69\n0.40\n-0.34\nFeb\n0.25\n-0.35\n-0.09\n-0.11\n-0.02\n-0.41\n-0.10\n-0.17\n0.00\n-0.28\n0.10\n-0.13\n0.05\n-0.07\nMar\n0.12\n-0.27\n-0.06\n-0.02\n-0.05\n0.02\n0.00\n0.03\n0.00\n0.12\n0.10\n-0.03\n-0.03\n-0.03\nApr\n-0.63\n-0.01\n-0.71\n-3.35\n-0.46\n-0.05\n-0.15\n-0.13\n-0.07\n0.59\n0.41\n-0.04\n-1.01\n-0.89\nMay\n-0.17\n-0.41\n0.18\n-0.25\n0.10\n-0.25\n-0.02\n-0.11\n0.00\n-0.08\n-0.44\n-0.10\n-0.37\n-0.19\nJun\n0.36\n-0.06\n-0.02\n-0.07\n-0.17\n0.06\n0.01\n-0.09\n0.00\n-0.07\n0.11\n0.01\n-0.45\n-0.14\nJul\n-0.08\n0.05\n-0.56\n-0.82\n0.15\n-0.09\n-0.02\n-0.14\n7.48\n-0.02\n0.03\n0.47\n-0.81\n0.06\nAug\n-0.27\n-0.01\n0.02\n-0.14\n-0.04\n-0.29\n-0.06\n-0.26\n0.00\n-0.14\n-0.09\n-0.10\n-0.75\n-0.36\nSep\n-0.05\n0.00\n-0.62\n-0.52\n0.04\n-0.42\n-0.38\n-0.01\n0.00\n1.28\n-0.30\n-0.31\n-0.47\n-0.36\nOct\n-0.43\n-0.31\n-0.08\n-0.32\n0.61\n-0.47\n0.02\n-0.14\n0.00\n-0.18\n0.12\n-0.17\n-0.53\n-0.29\nNov\n-0.15\n-0.19\n-0.01\n-0.24\n0.00\n-0.08\n-0.23\n-0.02\n2.83\n-0.03\n-0.02\n0.22\n0.04\n0.16\nDec\n-0.41\n-0.15\n0.18\n-0.07\n-0.06\n-0.25\n-0.03\n0.09\n0.00\n-0.07\n-0.30\n-0.06\n-0.21\n-0.11\n2016 \nJan\n0.05\n-0.02\n-0.04\n-0.30\n-0.15\n-0.37\n0.00\n-0.18\n0.00\n-0.16\n-0.29\n-0.13\n0.13\n-0.05\nFeb\n-0.14\n0.00\n-0.12\n-0.19\n-0.17\n-0.37\n-0.13\n-0.01\n0.00\n-0.17\n0.06\n-0.14\n-0.03\n-0.10\nMar\n-0.15\n-0.17\n-1.03\n-0.73\n-0.13\n-0.30\n0.42\n-0.04\n3.36\n-0.62\n-0.60\n-0.11\n-0.13\n-0.12\nApr\n0.03\n-0.14\n-0.02\n-0.32\n0.00\n0.07\n-0.08\n-0.02\n-0.01\n-0.09\n-0.35\n-0.08\n-0.51\n-0.21\nMay\n-0.29\n-0.22\n0.12\n-0.11\n-0.18\n-0.11\n-1.61\n0.06\n0.00\n0.02\n-0.33\n-0.12\n-0.49\n-0.24\nJun\n0.07\n-0.21\n0.58\n0.03\n0.15\n-0.08\n-0.01\n-0.23\n2.65\n0.31\n0.09\n0.44\n-0.35\n0.19\nJul\n0.01\n-0.15\n0.04\n0.05\n-0.15\n-0.03\n-0.36\n0.09\n0.00\n0.04\n-0.30\n-0.03\n-0.52\n-0.19\nAug\n-0.06\n-0.22\n0.00\n-0.03\n-0.02\n-0.13\n-0.02\n-0.10\n0.00\n0.01\n0.13\n-0.04\n-0.31\n-0.13\nSource:Zimstat, 2016\nNON-FOOD INFLATION\nTABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX\n( DECEMBER 2012 = 100)\n \n \n \n19 \n \n \nFOOD \nIN FLA TION\nA LL\nA LC OHOLIC \nB EV ER A GES \nC LOTHIN G\nHOU S IN G, \nWA TER ,\nFU R N ITU R E\nHEA LTH\nTR A N S POR T\nC OM M U N IC A TION\nR EC R EA TION \n&\nED U C A TION\nR ES TA U R A N TS \n&\nM IS C .\nTOTA L N ON\nFOOD & \nITEM S\n& TOB A C C O\n& FOOTWEA R\nELEC TR IC TY , \nGA S\nA N D\nC U LTU R E\nHOTELS\nGOOD S &\nFOOD\nN ON \nA LC OHOLIC \nB EV ER A GES\n& OTHER\nEQU IPM EN T\nS ER V IC ES\nFU ELS\n2015\nJan\n0.47\n0.00\n-0.16\n-1.86\n1.21\n0.19\n-13.69\n-0.44\n4.35\n-2.16\n-1.82\n-0.57\n-2.74\n-1.28\nFeb\n0.73\n-0.25\n-0.14\n-1.88\n1.10\n-0.30\n-13.78\n-0.57\n4.11\n-2.36\n-1.80\n-0.68\n-2.87\n-1.40\nMar\n0.90\n-0.46\n0.62\n-1.78\n1.03\n-0.28\n-13.78\n-0.54\n4.11\n-2.26\n-1.41\n-0.44\n-2.77\n-1.20\nApr\n-2.93\n0.59\n-1.07\n-2.62\n-1.50\n0.81\n-0.76\n-13.88\n-0.95\n-7.02\n-0.84\n-1.41\n-2.51\n-2.65\nMay\n0.31\n-1.37\n-2.39\n-1.45\n0.92\n-1.23\n-13.87\n-0.86\n-7.09\n-0.79\n-1.42\n-2.56\n-3.00\n-2.70\nJun\n0.72\n-1.54\n-2.41\n-1.58\n0.45\n-1.14\n0.00\n-0.87\n-7.09\n-0.75\n-1.38\n-2.57\n-3.32\n-2.81\nJul\n0.74\n-1.61\n-3.24\n-2.37\n0.50\n-1.12\n-13.77\n-0.93\n-1.90\n-1.61\n-0.99\n-2.35\n-3.65\n-2.77\nAug\n0.61\n-1.53\n-3.22\n-2.37\n0.42\n-1.67\n-13.77\n-1.11\n-1.88\n-1.78\n0.13\n-2.38\n-3.59\n-2.77\nSep\n0.47\n-1.67\n-4.25\n-2.62\n0.25\n-2.45\n-14.05\n-0.99\n-1.88\n-0.12\n-0.28\n-2.83\n-3.72\n-3.11\nOct\n-0.12\n-2.04\n-4.33\n-2.80\n0.86\n-2.64\n-13.98\n-1.09\n-1.89\n-0.32\n-0.20\n-2.95\n-4.00\n-3.29\nNov\n-0.45\n-2.35\n-4.32\n-2.94\n0.77\n-2.81\n-14.19\n-1.14\n11.08\n0.28\n-0.27\n-1.80\n-3.85\n-2.46\nDec\n-0.88\n-2.39\n-4.29\n-2.91\n0.57\n-3.24\n-14.22\n-0.89\n11.08\n0.43\n-0.42\n-1.89\n-3.71\n-2.47\n2016\nJan\n-0.79\n-2.41\n-4.40\n-3.27\n0.37\n-2.66\n-0.93\n-1.09\n11.17\n0.75\n-1.01\n-1.34\n-3.96\n-2.19\nFeb\n-1.16\n-2.06\n-4.43\n-3.35\n0.22\n-2.62\n-0.97\n0.21\n11.17\n0.96\n-1.17\n-1.35\n-4.04\n-2.22\nMar\n-1.43\n-1.97\n-5.36\n-4.04\n0.14\n-2.92\n-0.55\n-1.00\n14.91\n0.21\n-1.86\n-1.43\n-4.13\n-2.31\nApr\n-1.40\n-1.40\n-2.11\n-3.91\n0.19\n-2.71\n-0.50\n-0.95\n14.21\n-0.28\n-2.17\n-0.51\n-4.02\n-1.64\nMay\n-1.52\n-1.21\n-2.17\n-3.77\n-0.10\n-2.57\n-2.09\n-0.78\n14.21\n-0.18\n-2.07\n-0.53\n-4.13\n-1.69\nJun\n-1.80\n-1.36\n-1.58\n-3.67\n0.21\n-2.71\n-2.10\n-0.92\n17.24\n0.20\n-2.09\n-0.09\n-4.04\n-1.37\nJul\n-1.71\n-1.56\n-0.98\n-2.83\n-0.09\n-2.66\n-2.43\n-0.69\n9.09\n0.27\n-2.42\n-0.59\n-3.76\n-1.60\nAug\n-1.50\n-1.77\n-1.01\n-2.73\n-0.07\n-2.50\n-2.39\n-0.54\n9.09\n0.42\n-2.21\n-0.54\n-3.34\n-1.43\nSource: Zimstat, 2016\nN ON - FOOD IN FLA TION\nTABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1\n(DECEMBER 2012 = 100)\n \n \n \n20 \n \n \nSA\nBW\nJAPANESE\nEUROPEAN\nPOUND\nEND OF\nRAND/1\nPULA/1\nYEN/1\nCURRENCY/2\nSTERLING/2\n2015\nJAN\n11.5530\n9.6108\n117.8500\n1.1334\n1.5081\nFEB\n11.5530\n9.6108\n119.1700\n1.1200\n1.5400\nMAR\n12.1600\n9.9600\n120.1900\n1.0790\n1.4771\nAPR\n11.8200\n9.7400\n118.6000\n1.1100\n1.5400\nMAY\n12.1338\n9.7561\n123.8650\n1.0947\n1.5300\nJUNE\n12.2600\n9.9200\n122.3100\n1.1191\n1.5723\nJULY\n12.7100\n10.6700\n124.0300\n1.0941\n1.5601\nAUG\n13.3100\n10.2000\n121.1100\n1.1247\n1.5427\nSEPT\n13.9000\n10.5500\n119.9400\n1.1245\n1.5385\nOCT\n13.8500\n10.4700\n121.1500\n1.0981\n1.5400\nNOV\n14.3958\n10.6952\n122.7250\n1.0589\n1.5315\nDEC\n15.5600\n11.0990\n120.4200\n1.0929\n1.4925\n2016\nJAN\n16.0900\n11.4300\n120.5500\n1.0905\n1.4493\nFEB\n16.1100\n11.2700\n113.0300\n1.0990\n1.3880\nMAR\n15.4500\n11.1000\n112.9500\n1.1100\n1.4200\nAPR\n14.6200\n10.7575\n109.6825\n1.1340\n1.4306\nMAY\n15.3200\n10.9800\n108.9323\n1.1340\n1.4522\nJUN\n14.8834\n10.9349\n102.6700\n1.1095\n1.3397\nJUL\n14.4277\n10.7892\n103.9398\n1.1069\n1.3180\nAUG\n13.7656\n9.4521\n101.2190\n1.0960\n1.2280\nSource: Reserve Bank of Zimbabwe, 2016\n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES\n1. Foreign currency per US Dollar.\n2. US Dollar per unit of foreign currency.\n \n \n \n21 \n \n \n \n \n \n \n \nForeign\nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\n&\nBalances\nBalances \nBalances\nwith RBZ\nBond\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgric PEs\nCoins\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n2015\n Jan\n0.6\n222.5\n527.9\n159.0\n182.6\n163.6\n325.7\n0.0\n1,581.9\n \n21.4\n2,796.76\n \n557.7\n360.2\n366.1\n5,684.2\n \n Feb\n0.4\n216.7\n501.2\n149.6\n183.2\n128.6\n344.6\n0.0\n1,524.2\n \n17.9\n2,792.50\n \n564.8\n325.3\n356.8\n5,581.5\n \n Mar\n0.6\n246.9\n461.4\n147.8\n222.2\n121.6\n338.0\n5.4\n1,543.8\n \n15.5\n2,925.46\n \n527.3\n352.5\n362.0\n5,726.6\n \n Apr\n0.7\n205.5\n492.8\n158.6\n218.5\n112.0\n335.1\n5.4\n1,528.6\n \n18.2\n2,967.13\n \n527.1\n364.2\n385.4\n5,790.7\n \n May\n0.7\n237.3\n495.6\n135.1\n181.0\n101.4\n622.7\n5.5\n1,779.2\n \n18.2\n2,922.70\n \n525.7\n434.2\n384.3\n6,064.3\n \n Jun\n0.8\n245.7\n570.9\n155.1\n144.7\n90.8\n750.1\n4.4\n1,962.4\n \n28.8\n2,872.55\n \n498.4\n351.0\n386.2\n6,099.4\n \n Jul\n0.9\n226.0\n544.9\n137.3\n135.3\n86.3\n770.0\n0.0\n1,900.7\n \n28.8\n2,815.04\n \n504.1\n361.1\n388.8\n5,998.5\n \n Aug\n1.0\n234.0\n523.7\n104.3\n194.7\n76.1\n786.5\n5.1\n1,925.3\n \n28.8\n2,810.06\n \n535.2\n339.9\n390.5\n6,029.6\n \n Sep\n1.0\n255.2\n551.8\n114.8\n192.9\n63.7\n764.9\n5.1\n1,949.4\n \n28.0\n2,844.13\n \n599.2\n404.6\n392.3\n6,217.7\n \n Oct\n0.9\n215.7\n536.1\n143.7\n171.5\n83.5\n808.3\n5.2\n1,964.9\n \n26.7\n2,884.16\n \n599.3\n350.6\n391.5\n6,217.0\n \n Nov\n1.2\n186.9\n526.1\n135.9\n123.5\n74.3\n871.8\n5.2\n1,924.9\n \n26.6\n2,931.49\n \n603.6\n355.3\n393.6\n6,235.5\n \n Dec\n0.7\n181.6\n542.9\n127.5\n118.6\n79.7\n1031.3\n5.2\n2,087.6\n \n20.8\n2,820.54\n \n582.0\n352.8\n396.7\n6,260.4\n \n2016\n Jan\n1.0\n172.0\n646.9\n119.2\n130.7\n76.6\n981.9\n5.2\n2,133.5\n \n20.6\n2,763.7\n \n582.8\n387.3\n396.6\n6,284.4\n \n Feb\n1.2\n140.7\n682.1\n96.3\n118.1\n21.5\n1125.6\n5.2\n2,190.7\n \n20.1\n2,680.9\n \n477.1\n390.1\n399.3\n6,158.2\n \n Mar\n1.3\n161.9\n714.2\n96.3\n156.8\n19.2\n1140.5\n5.1\n2,295.4\n \n20.3\n2,690.6\n \n430.6\n428.7\n405.1\n6,270.8\n \n Apr\n1.3\n135.5\n757.8\n135.5\n133.3\n18.7\n1198.1\n5.1\n2,385.4\n \n20.4\n2,653.4\n \n413.7\n441.1\n404.7\n6,318.6\n \n May\n1.4\n89.6\n871.6\n130.5\n110.4\n19.3\n1215.9\n5.0\n2,443.6\n \n19.8\n2,681.8\n \n397.0\n358.0\n412.6\n6,312.8\n \n Jun\n1.4\n108.5\n914.7\n84.6\n148.3\n19.2\n1274.4\n1.8\n2,553.0\n \n19.7\n2,669.3\n \n407.7\n358.0\n431.6\n6,439.3\n \n Jul\n1.4\n101.2\n972.6\n82.5\n166.0\n16.5\n1313.2\n0.0\n2,653.5\n \n20.5\n2,567.9\n \n393.2\n342.6\n440.3\n6,418.1\n \n Aug\n1.4\n140.2\n1054.0\n97.5\n156.9\n14.9\n1293.8\n0.0\n2,758.7\n \n20.5\n2,565.9\n \n390.2\n367.5\n447.3\n6,550.2\n \nSource:Reserve Bank of Zimbabwe, 2016\nLiquid Assets\nTABLE 7.1: COMMERCIAL BANKS - ASSETS\nSecurities\nUS$ millions\n \n \n \n22 \n \n \n \n \nDeposits\nCapital\nContigent\nOther\nTotal\nOf which\nand\nLiablities\nLiablities\nLiabilities to the \nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\nPublic\n2015\nJan\n2,056.2\n \n996.2\n561.7\n3,614.0\n \n470.1\n0.0\n79.5\n728.5\n557.7\n234.3\n5,684.2\n \n3,614.0\n \nFeb\n2,079.6\n \n876.1\n611.6\n3,567.3\n \n426.6\n0.0\n75.6\n720.3\n564.8\n227.0\n5,581.5\n \n3,567.3\n \nMar\n2,139.3\n \n940.4\n513.3\n3,593.0\n \n461.1\n0.0\n101.9\n749.7\n527.3\n293.6\n5,726.6\n \n3,593.0\n \nApr\n2,098.7\n \n943.5\n629.8\n3,672.0\n \n448.9\n0.0\n103.4\n747.4\n527.1\n291.8\n5,790.7\n \n3,672.0\n \nMay\n2,131.8\n \n1015.3\n615.3\n3,762.4\n \n574.7\n0.0\n82.4\n814.7\n525.7\n304.4\n6,064.3\n \n3,762.4\n \nJun\n2,213.2\n \n1021.9\n593.5\n3,828.7\n \n560.2\n0.8\n103.1\n814.9\n498.4\n293.2\n6,099.4\n \n3,828.7\n \nJul\n2,166.4\n \n889.7\n732.5\n3,788.6\n \n478.9\n0.8\n88.2\n813.0\n504.1\n325.0\n5,998.5\n \n3,788.6\n \nAug\n2,266.7\n \n790.9\n723.1\n3,780.7\n \n490.7\n0.0\n83.4\n825.7\n535.2\n313.9\n6,029.6\n \n3,780.7\n \nSep\n2,276.7\n \n967.6\n648.7\n3,892.9\n \n504.0\n0.0\n72.0\n828.1\n599.2\n321.5\n6,217.7\n \n3,892.9\n \nOct\n2,259.9\n \n909.3\n667.8\n3,837.0\n \n494.3\n0.0\n122.2\n841.2\n599.3\n322.9\n6,217.0\n \n3,837.0\n \nNov\n2,475.9\n \n919.4\n580.1\n3,975.4\n \n347.6\n0.0\n126.0\n845.3\n603.6\n337.5\n6,235.5\n \n3,975.4\n \nDec\n2,512.2\n \n999.0\n543.0\n4,054.2\n \n320.4\n0.0\n140.4\n866.9\n582.0\n296.5\n6,260.4\n \n4,054.2\n \n2016\nJan\n2,562.6\n \n952.2\n558.7\n4,073.5\n \n313.2\n0.0\n135.6\n871.3\n582.8\n308.0\n6,284.4\n \n4,073.5\n \nFeb\n2,545.7\n \n959.3\n572.0\n4,077.1\n \n298.9\n0.0\n126.0\n878.1\n477.1\n301.0\n6,158.2\n \n4,077.1\n \nMar\n2,653.7\n \n893.4\n680.0\n4,227.1\n \n303.1\n0.0\n135.2\n886.6\n430.6\n288.2\n6,270.8\n \n4,227.1\n \nApr\n2,675.3\n \n1008.1\n591.9\n4,275.3\n \n285.7\n0.0\n154.4\n893.9\n413.7\n295.5\n6,318.6\n \n4,275.3\n \nMay\n2,764.6\n \n1100.0\n449.7\n4,314.3\n \n300.0\n0.0\n101.3\n908.9\n397.0\n291.2\n6,312.8\n \n4,314.3\n \nJun\n2,865.3\n \n907.1\n673.1\n4,445.5\n \n272.3\n0.0\n118.6\n915.7\n407.7\n279.5\n6,439.3\n \n4,445.5\n \nJul\n2,826.1\n \n993.3\n654.3\n4,473.7\n \n260.7\n0.0\n93.8\n922.3\n393.2\n274.4\n6,418.1\n \n4,473.7\n \nAug\n2,979.0\n \n1002.4\n587.6\n4,569.0\n \n257.0\n0.0\n87.1\n932.3\n390.2\n314.7\n6,550.2\n \n4,569.0\n \nSource:Reserve Bank of Zimbabwe, 2016\nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES\nUS$ millions\nAmounts Owing to\n \n \n \n23 \n \n \n \n \n \n \nForeign\nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\nBond\n&\nBalances\nBalances \nBalances\nLiquid\nwith RBZ\nCoins\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgris Pes\nAssets\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n2015\n Jan\n0.0\n0.6\n0.3\n0.0\n0.1\n1.6\n0.0\n0.0\n2.0\n0.0\n70.2\n8.3\n19.0\n23.7\n123.8\n Feb\n0.0\n0.4\n0.2\n0.1\n0.1\n1.6\n0.0\n0.0\n2.5\n0.0\n72.0\n8.3\n19.3\n23.6\n125.7\n Mar\n0.0\n0.4\n0.1\n0.0\n0.1\n1.5\n0.0\n0.0\n2.1\n0.0\n73.3\n8.2\n18.5\n23.4\n125.5\n Apr\n0.0\n0.3\n0.1\n0.0\n0.1\n0.2\n0.0\n0.0\n0.6\n0.0\n66.7\n0.0\n10.3\n21.3\n98.9\n May\n0.0\n0.4\n0.0\n0.0\n0.0\n0.2\n0.0\n0.0\n0.6\n0.0\n67.9\n0.0\n9.6\n21.2\n99.3\n Jun\n0.0\n0.3\n0.0\n0.0\n0.0\n0.4\n0.0\n0.0\n0.7\n0.0\n68.1\n0.0\n9.7\n21.1\n99.6\n Jul\n0.0\n0.2\n1.6\n0.0\n0.0\n0.2\n0.0\n0.0\n2.0\n0.0\n67.8\n0.0\n9.2\n21.0\n100.0\n Aug\n0.0\n0.1\n1.8\n0.0\n0.0\n0.2\n0.0\n0.0\n2.0\n0.0\n60.0\n0.0\n9.3\n28.1\n99.4\n Sep\n0.0\n0.1\n2.2\n0.0\n0.0\n0.2\n0.0\n0.0\n2.5\n0.0\n59.2\n0.0\n9.2\n28.0\n98.9\n Oct\n0.0\n0.1\n2.1\n0.0\n0.0\n0.2\n0.0\n0.0\n2.4\n0.0\n59.4\n0.0\n9.1\n27.8\n98.8\n Nov\n0.0\n0.1\n2.0\n0.0\n0.0\n0.2\n0.0\n0.0\n2.4\n0.0\n58.5\n0.0\n9.5\n20.6\n91.0\n Dec\n0.0\n0.1\n1.6\n0.0\n0.0\n0.2\n0.0\n0.0\n1.9\n0.0\n59.8\n0.0\n9.4\n20.5\n91.6\n2016\n Jan\n0.0\n0.1\n1.9\n0.0\n0.0\n0.2\n0.0\n0.0\n2.2\n0.0\n60.7\n0.0\n9.3\n20.3\n92.5\n Feb\n0.0\n0.1\n0.9\n1.1\n0.0\n0.2\n0.0\n0.0\n2.3\n0.0\n61.6\n0.0\n9.2\n20.2\n93.2\n Mar\n0.0\n0.1\n1.9\n0.0\n0.0\n0.2\n0.0\n0.0\n2.3\n0.0\n62.0\n0.0\n9.3\n20.1\n93.6\n Apr\n0.0\n0.2\n0.7\n1.1\n0.0\n0.2\n0.0\n0.0\n2.2\n0.0\n62.3\n0.0\n9.4\n19.9\n93.8\n May\n0.0\n0.1\n0.9\n1.2\n0.0\n0.2\n0.0\n0.0\n2.4\n0.0\n62.7\n0.0\n9.3\n19.8\n94.2\n Jun\n0.0\n0.1\n0.9\n1.2\n0.0\n0.4\n0.0\n0.0\n2.6\n0.0\n62.7\n0.0\n9.3\n19.8\n94.4\n Jul\n0.0\n0.1\n1.8\n0.6\n0.0\n0.2\n0.0\n0.0\n2.7\n0.0\n63.4\n0.0\n9.2\n19.8\n95.1\n Aug\n0.0\n0.1\n1.7\n0.6\n0.0\n0.2\n0.0\n0.0\n2.6\n0.0\n63.6\n0.0\n9.3\n19.7\n95.2\nSource:Reserve Bank of Zimbabwe, 2016\nUS$ millions\nTABLE 8.1 : ACCEPTING HOUSES - ASSETS\nLiquid Assets\nSecurities\n \n \n \n24 \n \n \nOf which\nDeposits\nCapital\nContigent\nOther\nTotal\nLiabilities to the \nand\nLiablities\nLiablities\nPublic\nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\n2015\n Jan\n39.0\n40.9\n0.0\n80.0\n11.7\n0.0\n0.0\n-47.0\n8.3\n70.7\n123.8\n80.0\n Feb\n38.4\n40.4\n0.0\n78.7\n11.7\n0.0\n0.0\n-48.7\n8.3\n75.6\n125.7\n78.7\n Mar\n68.6\n12.1\n0.0\n80.7\n12.0\n0.0\n0.0\n-50.7\n8.2\n75.2\n125.5\n80.7\n Apr\n63.9\n0.0\n0.0\n63.9\n0.0\n0.0\n0.0\n-27.5\n0.0\n62.4\n98.9\n63.9\n May\n63.9\n0.0\n0.0\n63.9\n0.0\n0.0\n0.0\n-28.8\n0.0\n64.2\n99.3\n63.9\n Jun\n62.9\n0.0\n0.0\n62.9\n0.0\n0.0\n0.0\n-28.9\n0.0\n65.6\n99.6\n62.9\n Jul\n62.9\n0.0\n0.0\n62.9\n0.0\n0.0\n0.0\n-27.8\n0.0\n64.8\n100.0\n62.9\n Aug\n62.9\n0.0\n0.0\n62.9\n0.0\n0.0\n0.0\n-14.9\n0.0\n51.3\n99.4\n62.9\n Sep\n62.2\n0.0\n0.0\n62.2\n0.0\n0.0\n0.0\n-15.3\n0.0\n52.0\n98.9\n62.2\n Oct\n61.9\n0.0\n0.0\n61.9\n0.0\n0.0\n0.0\n-16.4\n0.0\n53.2\n98.8\n61.9\n Nov\n58.8\n0.0\n0.0\n58.8\n0.0\n0.0\n0.0\n-20.2\n0.0\n52.5\n91.0\n58.8\n Dec\n58.5\n0.0\n0.0\n58.5\n0.0\n0.0\n0.0\n-20.1\n0.0\n53.2\n91.6\n58.5\n2016\n Jan\n58.5\n0.0\n0.0\n58.5\n0.0\n0.0\n0.0\n-18.8\n0.0\n52.9\n92.5\n58.5\n Feb\n58.3\n0.0\n0.0\n58.3\n0.0\n0.0\n0.0\n-19.4\n0.0\n54.3\n93.2\n58.3\n Mar\n58.3\n0.0\n0.0\n58.3\n0.0\n0.0\n0.0\n-20.1\n0.0\n55.3\n93.6\n58.3\n Apr\n58.3\n0.0\n0.0\n58.3\n0.0\n0.0\n0.0\n-19.5\n0.0\n55.0\n93.8\n58.3\n May\n58.4\n0.0\n0.0\n58.4\n0.0\n0.0\n0.0\n-20.2\n0.0\n56.0\n94.2\n58.4\n Jun\n58.4\n0.0\n0.0\n58.4\n0.0\n0.0\n0.0\n-20.2\n0.0\n56.0\n94.2\n58.4\n Jul\n58.4\n0.0\n0.0\n58.4\n0.0\n0.0\n0.0\n-19.3\n0.0\n56.1\n95.1\n58.4\n Aug\n58.3\n0.0\n0.0\n58.3\n0.0\n0.0\n0.0\n-19.3\n0.0\n56.1\n95.2\n58.3\nSource:Reserve Bank of Zimbabwe, 2016\nAmounts Owing to\nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES\nUS$ millions\n \n \n \n25 \n \n \n \n \nForeign\nMortgage\nOther\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvances\nAdvances\nAssets\nAssets\n&\nBalances \nNostro \nwith RBZ/1\nBond\nCoin\nwith Other \nBalances\nTrade\nTreasury\nAgris Pes\nCoins\nat Banks\nBanks\nBills\n2015\nJan\n0.1\n37.3\n196.0\n0.0\n0.1\n51.8\n0.0\n307.1\n0.0\n511.6\n172.1\n105.8\n126.1\n1,222.6\n \nFeb\n0.1\n32.1\n244.4\n0.0\n0.1\n51.9\n0.0\n328.6\n0.0\n522.9\n176.2\n106.8\n125.8\n1,260.2\n \nMar\n0.1\n52.4\n214.4\n0.0\n0.1\n52.0\n0.0\n319.0\n0.0\n508.7\n180.0\n122.5\n125.5\n1,255.5\n \nApr\n0.1\n32.5\n243.2\n0.0\n0.1\n60.4\n0.0\n336.3\n0.0\n520.2\n182.5\n118.3\n124.8\n1,282.0\n \nMay\n0.1\n33.6\n257.7\n0.0\n0.1\n60.1\n0.0\n351.5\n0.0\n448.7\n235.1\n137.5\n125.2\n1,298.0\n \nJun\n0.2\n59.6\n204.9\n0.0\n0.1\n60.1\n0.0\n324.8\n0.0\n464.9\n231.9\n139.4\n122.0\n1,283.0\n \nJul\n0.2\n51.6\n205.5\n0.0\n0.1\n62.9\n0.0\n320.2\n0.0\n461.5\n230.6\n133.9\n121.9\n1,268.2\n \nAug\n0.1\n53.0\n158.9\n0.0\n0.1\n76.2\n0.0\n288.4\n0.0\n482.9\n228.4\n136.0\n122.2\n1,257.9\n \nSep\n0.1\n55.4\n161.7\n0.0\n0.1\n76.0\n0.0\n293.3\n0.0\n480.4\n263.4\n125.8\n122.1\n1,285.0\n \nOct\n0.1\n45.2\n229.1\n0.0\n0.1\n76.0\n0.0\n350.5\n0.0\n494.0\n265.1\n126.0\n122.8\n1,358.4\n \nNov\n0.1\n43.6\n256.8\n0.0\n0.1\n76.1\n0.0\n376.7\n0.0\n292.0\n479.3\n131.8\n121.1\n1,400.9\n \nDec\n0.1\n27.3\n284.0\n0.0\n0.0\n76.6\n0.0\n387.9\n0.0\n317.4\n470.4\n114.7\n118.4\n1,408.8\n \n2016\nJan\n0.1\n17.4\n227.8\n10.0\n0.0\n76.6\n0.0\n331.9\n0.0\n326.9\n415.3\n145.6\n119.7\n1,339.4\n \nFeb\n0.2\n13.9\n253.5\n0.0\n0.0\n65.6\n0.0\n333.2\n0.0\n324.4\n420.2\n148.4\n119.6\n1,345.8\n \nMar\n0.2\n20.8\n266.6\n0.0\n0.0\n48.3\n0.0\n335.9\n0.0\n339.6\n399.4\n142.9\n119.4\n1,337.2\n \nApr\n0.2\n9.5\n213.7\n0.0\n0.0\n90.9\n0.0\n314.2\n0.0\n332.5\n402.2\n143.6\n119.2\n1,311.8\n \nMay\n0.1\n7.1\n220.3\n0.0\n0.0\n93.3\n0.0\n320.8\n0.0\n404.6\n341.0\n149.9\n122.9\n1,339.2\n \nJun\n0.2\n8.0\n278.0\n0.0\n0.0\n104.0\n0.0\n390.0\n0.0\n348.0\n389.4\n146.0\n119.3\n1,392.3\n \nJul\n0.2\n8.2\n231.4\n0.0\n0.0\n101.6\n0.0\n341.4\n0.0\n341.5\n412.1\n154.8\n123.8\n1,373.5\n \nAug\n0.1\n7.4\n225.6\n0.0\n0.0\n95.1\n0.0\n328.2\n0.0\n348.0\n402.7\n152.0\n123.4\n1,354.3\n \nSource:Reserve Bank of Zimbabwe, 2016\nLiquid Assets\nSecurities\nTABLE 9.1 : BUILDING SOCIETIES - ASSETS\nUS$ millions\n \n \n \n26 \n \nOf which\nCapital\nOther\nTotal\nLiabilities to the \nand\nLiabilities\nPublic\nEnd of\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nOther Banks\nReserves\n2015\nJan\n373.0\n397.1\n770.2\n54.6\n99.1\n267.8\n31.0\n1,222.6\n \n770.2\nFeb\n405.8\n400.3\n806.2\n53.6\n98.3\n272.9\n29.2\n1,260.2\n \n806.2\nMar\n408.1\n386.3\n794.4\n50.8\n108.8\n275.8\n25.8\n1,255.5\n \n794.4\nApr\n464.1\n364.8\n828.9\n48.3\n99.4\n276.8\n28.7\n1,282.0\n \n828.9\nMay\n472.0\n391.6\n863.6\n48.5\n87.4\n270.7\n27.8\n1,298.0\n \n863.6\nJun\n492.9\n343.9\n836.8\n48.3\n94.0\n272.9\n31.1\n1,283.0\n \n836.8\nJul\n458.3\n370.6\n828.9\n48.5\n85.8\n277.4\n27.5\n1,268.2\n \n828.9\nAug\n438.4\n386.1\n824.5\n47.6\n73.2\n282.7\n29.9\n1,257.9\n \n824.5\nSep\n498.9\n334.3\n833.2\n43.5\n84.9\n288.4\n35.0\n1,285.0\n \n833.2\nOct\n465.3\n428.4\n893.7\n42.4\n99.0\n293.6\n29.7\n1,358.4\n \n893.7\nNov\n446.1\n474.4\n920.4\n42.4\n104.3\n297.7\n36.0\n1,400.9\n \n920.4\nDec\n480.5\n463.9\n944.4\n43.0\n99.4\n293.3\n28.8\n1,408.8\n \n944.4\n2016\nJan\n447.7\n443.1\n890.7\n43.3\n74.7\n298.3\n32.3\n1,339.4\n \n890.7\nFeb\n446.8\n441.8\n888.6\n42.3\n81.6\n301.9\n31.5\n1,345.8\n \n888.6\nMar\n433.3\n449.5\n882.8\n37.0\n81.7\n289.7\n46.0\n1,337.2\n \n882.8\nApr\n495.3\n380.6\n875.9\n36.9\n75.1\n290.1\n33.9\n1,311.8\n \n875.9\nMay\n455.3\n403.8\n859.2\n36.2\n77.7\n320.7\n45.5\n1,339.2\n \n859.2\nMay\n455.3\n403.8\n859.2\n36.2\n77.7\n320.7\n45.5\n1,339.2\n \n859.2\nJun\n463.4\n443.7\n907.0\n35.4\n84.6\n319.0\n46.3\n1,392.3\n \n907.0\nJul\n420.3\n486.9\n907.3\n35.7\n73.1\n324.1\n33.4\n1,373.5\n \n907.3\nAug\n359.8\n523.3\n883.2\n33.6\n76.9\n327.4\n33.3\n1,354.3\n \n883.2\nSource:Reserve Bank of Zimbabwe, 2016\nDeposits\nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES\nUS$ millions \nAmounts Owing to\n \n \n \n27 \n \n \n \n \n \n \n \n \n \n \n \n \nMarket Capitalisation\nIndustrial\nMining\nMarket Turnover(US$)\nVolume of Shares\nUS$ Millions\n2015\nJan\n164.9\n58.1\n16,062,740.8\n57,390,451\n4,365.1\nFeb\n167.2\n55.4\n34,775,616.2\n119,324,114\n4,353.4\nMar\n158.2\n43.9\n18,903,881.0\n405,884,918\n4,117.1\nApr\n156.2\n42.9\n29,188,562.0\n563,833,853\n4,066.1\nMay\n153.0\n44.5\n23,280,422.2\n290,320,685\n3,978.1\nJun\n148.4\n44.3\n14,514,679.0\n80,441,278\n3,803.8\nJul\n145.4\n39.4\n20,419,108.0\n157,184,218\n3,812.7\nAug\n135.4\n35.3\n15,344,249.0\n76,187,436\n3,552.0\nSep\n131.9\n24.4\n18,202,232.0\n105,678,504\n3,444.5\nOct\n130.8\n23.6\n12,864,086.0\n63,758,585\n3,416.1\nNov\n117.6\n22.3\n8,947,586.0\n90,417,554\n3,141.7\nDec\n114.9\n23.7\n16,360,451.6\n183,792,940\n3,073.4\n2016\nJan\n103.0\n19.5\n10,399,904.0\n61,882,757\n2,790.4\nFeb\n99.4\n19.1\n15,556,983.0\n95,020,938\n2,692.3\nMar\n97.6\n19.4\n16,428,571.0\n97,601,725\n2,645.1\nApr\n105.8\n20.2\n14,026,917.0\n187,848,946\n2,862.6\nMay\n104.7\n25.5\n13,868,486.0\n99,055,230\n2,881.3\nJun\n101.0\n24.7\n18,064,624.0\n88,525,472.0\n2,780.9\nJul\n98.8\n25.7\n11,838,626.0\n57,222,624.0\n2,772.0\nAug\n99.5\n26.3\n7,075,762.0\n41,264,438.0\n2,734.3\nSource:Zimbabwe Stock Exchange (ZSE),2016\nIndices\nTable 10: ZIMBABWE STOCK MARKET STATISTICS\n \n \n \n28 \n \n \n \n \n \n \n \n \n \nCommercial\nBuilding \nEnd of\nBanks\nP.O.S.B.\nSocieties\nTOTAL\n2015\nJan\n1,557.9\n86.3\n770.2\n2,455.2\nFeb\n1,487.7\n90.4\n806.2\n2,384.2\nMar\n1,453.7\n93.6\n794.4\n2,353.9\nApr\n1,573.3\n90.4\n828.9\n2,492.6\nMay\n1,630.6\n89.2\n863.6\n2,583.4\nJun\n1,615.4\n95.1\n836.8\n2,547.3\nJul\n1,622.2\n92.4\n828.9\n2,543.5\nAug\n1,514.0\n93.1\n824.5\n2,431.5\nSep\n1,616.2\n101.3\n833.2\n2,550.7\nOct\n1,577.1\n97.5\n893.7\n2,568.3\nNov\n1,499.5\n100.0\n920.4\n2,520.0\nDec\n1,542.0\n94.4\n944.4\n2,580.8\n2016\nJan\n1,511.0\n99.6\n890.7\n2,501.3\nFeb\n1,531.3\n99.2\n888.6\n2,519.2\nMar\n1,573.4\n99.6\n882.8\n2,555.8\nApr\n1,599.9\n103.9\n875.9\n2,579.7\nMay\n1,549.8\n106.1\n859.2\n2,515.1\nJun\n1,580.2\n108.3\n859.2\n2,547.7\nJul\n1,647.7\n105.4\n907.0\n2,660.0\nAug\n1,590.0\n105.4\n907.3\n2,602.7\nSource:Reserve Bank of Zimbabwe, 2016\n1/ Comprises all deposits other than demand deposits.\nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS\nUS$ millions\n \n \n \n29 \n \n \n \n \n \n \n \nLiquid\nPrescribed\nExcess\nLiquid\nPrescribed\nExcess\nassets\nliquid\nliquid\nassets\nliquid\nLiquid\nEnd of\nheld\nassets/1\nassets\nheld\nassets/1\nassets\n2015\nJan\n1,581.9\n1,084.2\n497.7\n2.0\n24.0\n-22.0\nFeb\n1,524.2\n1,070.2\n454.0\n2.5\n23.6\n-21.2\nMar\n1,543.8\n1,077.9\n465.9\n2.1\n24.2\n-22.1\nApr\n1,528.6\n1,101.6\n427.0\n0.6\n19.2\n-18.6\nMay\n1,779.2\n1,128.7\n650.4\n0.6\n19.2\n-18.5\nJun\n1,962.4\n1,148.6\n813.8\n0.7\n18.9\n-18.2\nJul\n1,900.7\n1,136.6\n764.1\n2.0\n18.9\n-16.9\nAug\n1,925.3\n1,134.2\n791.0\n2.0\n18.9\n-16.9\nSep\n1,949.4\n1,167.9\n781.6\n2.5\n18.6\n-16.1\nOct\n1,964.9\n1,151.1\n813.8\n2.4\n18.6\n-16.2\nNov\n1,924.9\n1,192.6\n732.2\n2.4\n17.6\n-15.3\nDec\n2,087.6\n1,216.3\n871.3\n1.9\n17.6\n-15.6\n2016\nJan\n2,133.5\n1,222.1\n911.4\n2.2\n17.6\n-15.4\nFeb\n2,190.7\n1,223.1\n967.6\n2.3\n17.5\n-15.2\nMar\n2,295.4\n1,268.1\n1,027.2\n2.3\n17.5\n-15.2\nApr\n2,385.4\n1,282.6\n1,102.8\n2.2\n17.5\n-15.3\nMay\n2,443.6\n1,294.3\n1,149.3\n2.4\n17.5\n-15.1\nJun\n2,553.0\n1,333.6\n1,219.4\n2.6\n17.5\n-14.9\nJul\n2,653.5\n1,342.1\n1,311.3\n2.7\n17.5\n-14.8\nAug\n2,758.7\n1,370.7\n1,388.0\n2.6\n17.5\n-14.9\nSource:Reserve Bank of Zimbabwe, 2016\n1/With effect from 1 August 2011, the prescribed liquid asset ratio was reviewed from 20% to 25% of liabilities to the public. \nUS$ millions\nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \nCommercial Banks\n Accepting Houses\n \n \n \n30 \n \n \n \n \n \n \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE INTERNET\n2015\nJan\n 3,659.0 \n11.8\n154.4\n311.9\n352.2\n113.5\nFeb\n 3,221.1 \n13.7\n141.8\n275.8\n334.6\n104.6\nMar\n 3,802.0 \n11.1\n132.0\n298.3\n364.7\n111.7\nApr\n 3,919.5 \n10.8\n134.0\n299.7\n341.2\n112.4\nMay\n 3,467.1 \n13.1\n128.8\n316.7\n390.0\n124.5\nJun\n 3,014.7 \n15.4\n123.5\n333.7\n438.7\n136.6\nJul\n 4,010.3 \n12.6\n154.6\n332.4\n391.0\n128.6\nAug\n 3,299.1 \n11.4\n193.4\n313.2\n391.2\n133.6\nSep\n3,762.7\n \n12.9\n131.9\n318.8\n396.3\n396.3\nOct\n 3,964.5 \n11.8\n149.4\n334.9\n434.7\n151.0\nNov\n 3,551.4 \n12.0\n130.2\n347.7\n417.0\n154.4\nDec\n 4,167.9 \n11.0\n146.6\n411.3\n477.5\n213.3\n2016\nJan\n 3,385.9 \n11.1\n137.4\n331.5\n388.9\n167.7\nFeb\n 3,448.2 \n11.9\n138.8\n312.1\n389.3\n167.9\nMar\n 3,460.2 \n11.3\n142.1\n288.8\n417.1\n255.9\nApr\n 3,564.3 \n9.7\n180.1\n247.6\n427.3\n168.3\nMay\n 3,869.2 \n10.8\n214.8\n203.3\n479.9\n217.9\nJun\n 4,522.2 \n10.3\n203.9\n131.4\n465.1\n174.1\nJul\n 3,911.8 \n9.2\n240.0\n166.3\n491.2\n218.0\nAug\n 3,928.7 \n7.9\n238.0\n165.9\n535.4\n230.6\nSource:Reserve Bank of Zimbabwe, 2016\nTABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY\nValues of Transactions (US$ millions)\n \n \n \n31 \n \n \n \n \n \n \n \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2015\nJan\n170.8\n29.55\n 1,174.1 1,124.5 16,903.3 \n37.6\nFeb\n172.3\n32.23\n 1,140.9 1,027.9 16,160.4 \n39.9\nMar\n191.6\n30.33\n 1,183.6 1,110.2 18,211.9 \n44.5\nApr\n180.3\n26.98\n 1,151.3 1,107.5 17,269.7 \n43.6\nMay\n179.8\n27.38\n 1,052.5 1,123.8 18,684.6 \n43.2\nJun\n196.4\n31.85\n 1,121.2 1,038.2 17,478.2 \n47.2\nJul\n199.1\n34.00\n 1,288.2 1,167.4 18,670.4 \n49.4\nAug\n153.1\n28.05\n 1,373.5 1,122.2 19,750.6 \n46.5\nSep\n164.3\n31.15\n 1,196.9 1,103.9 19,133.2 \n50.4\nOct\n156.4\n30.78\n 1,295.0 1,152.8 22,166.4 \n54.0\nNov\n143.4\n32.19\n 1,206.2 1,151.3 21,390.2 \n51.3\nDec\n155.0\n27.25\n 1,359.9 1,183.6 22,904.3 \n52.6\nAnnual Total 2,062.6 \n361.73\n 14,543.3 13,413.3 228,723.3 \n560.2\n2016\nJan\n132.3\n24.6\n1328.9\n1104.4\n 19,956.1 \n49.9\nFeb\n148.4\n30.3\n1289.5\n1067.1\n 19,793.7 \n54.6\nMar\n152.5\n29.6\n1455.7\n962.9\n 21,731.5 \n61.9\nApr\n161.7\n25.0\n1962.6\n841.3\n 21,086.6 \n59.9\nMay\n199.3\n29.1\n2779.9\n675.8\n 23,293.0 \n83.2\nJun\n268.2\n33.5\n3203.8\n741.9\n 23,321.2 \n88.0\nJul\n242.4\n31.1\n3946.3\n1052.8\n 24,538.8 \n102.7\nAug\n253.9\n27.8\n4038.1\n1156.4\n 26,009.6 \n109.5\nSource:Reserve Bank of Zimbabwe, 2016\nTABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL \nVolumes of Transactions (in thousands)", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/August2016.pdf"}

dedup/cb_requests/0c9d7a4635a8555f9398f9a326770486.json

@@ -0,0 +1 @@
+{"url": "file:///CBN/Quarterly_Economic_Reports/FSR JUNE 2025 EDITION aft.pdf", "source": "CBN", "fetch_date": "2026-05-11", "filename": "FSR JUNE 2025 EDITION aft.pdf", "subfolder": "CBN\\Quarterly_Economic_Reports", "token_count": 29662}

dedup/cb_requests/0d9b04b22ff37bfce902aad70e8232e8.json

@@ -0,0 +1 @@
+{"doc_id": "0d9b04b22ff37bfce902aad70e8232e8", "text": "MONTHLY ECONOMIC REVIEW \nJULY 2014 \nSelected Economic Indicators \n2 \nStock Market Developments \n3 \nMonetary Developments \n5 \nInflation \n6 \nNational Payments System \n7 \nStatistical Tables \n9 \n \n \nINSIDE THIS ISSUE \n \nPAGE \nSELECTED ECONOMIC INDICATORS \n2 \n \n2014 \nJune \n2014 \nJuly \nMonth-on- \nMonth \nChange \nZ.S.E. Mining Index1 \n61.32 \n95.00 \n54.92% \nZ.S.E. Industrial Index1 \n186.57 \n188.07 \n0.8% \nMoney Supply (Total Bank Deposits) (US$)2 \n4.32 billion \n4.22 billion \n-3.07% \nMoney Supply (M3) Annual Growth2 \n12.65% \n9.58% \n-3.07% \nYearly Inflation3 \n-0.08% \n0.31% \n0.01% \nNominal Lending Rate (%) \n6.00-35.00 \n6.00-35.00 \n \nSources: \n1 Zimbabwe Stock Exchange \n2 Reserve Bank of Zimbabwe \n3 Zimbabwe National Statistics Agency (ZIMSTAT) \n \n \n \n \nSTOCK MARKET DEVELOPMENTS \n \nIn July 2014, the Zimbabwe Stock Exchange \n(ZSE) registered gains, in line with most \nmajor African markets. \n \nInvestor sentiment in the Global markets, \nwas, however, impacted negatively by \nvarious factors, chief among them, the \nincrease in geo-political tensions in the \nUkraine and Middle East and the collapse of \nBanco Espirito Santo in Portugal. In Africa, \nmost of the major stock markets recorded \nmarginal gains with the exception of Nigeria \nwhich was down by 0.9%. Egypt recorded \nthe highest gains of 8.1% during the month \nunder review, on the back of new measures \nintroduced by the Government to cut the \ncountry’s budget deficit. \n \nIn line with trends in other major African \nstock markets, the ZSE’s industrial index \nregistered a marginal increase of 0.8%, to \nclose at 188.07 points during July 2014. On \na year-to-date basis, however, the industrial \nindex lost 6.89%. \n2 3 \nSource: Zimbabwe Stock Exchange, 2014. \nSource: Zimbabwe Stock Exchange, 2014. \n2 4 \nThe mining index maintained its upward \ntrend, gaining 54.92% to close at 95 points \nin July 2014, from 61.32 points in June. The \ngains were fueled by a rise of 77.1% in the \nshare price of Bindura Nickel Mine, in July \n2014. The mining index, therefore gained \n107.5%, on a year to date basis. \n \nThe volume of shares traded recovered from \na decline of 24.31%, in June 2014, to an \nincrease of 80.65% in July. Shares traded in \nJuly 2014 totaled 322.41 million in volume \nterms, compared to 178.47 million shares in \nJune \n2014. \nTotal \nturnover, \nhowever, \ndeclined by 11.65%, to close the month \nunder review at US$25.22 million. \n \nButtressed by increases in the prices of \nheavily \ncapitalized \ncounters, \nmarket \ncapitalization \nincreased \nby \n1.76% \nto \nUS$4.96 billion, at the end of July 2014, \nfrom US$4.87 billion at the close of June \n2014. On a year to date basis, however, the \nZSE’s market capitalization lost 4.63%. \n \nMONETARY DEVELOPMENTS \n \nAnnual broad money growth declined by \n3.07 percentage points from 12.65% in June \n2014 to 9.58% in July 2014. In absolute \nterms, \nbroad \nmoney \nincreased \nfrom \nUS$3 854.92 million in July 2013 to \nUS$4 224.07 million in July 2014. \n \nOn a month-on-month basis, however, broad \nmoney, \ndeclined \nby \n2.30% \nfrom \nUS$4 323.57 million in June 2014 to \nUS$4 224.07. The month-on-month fall in \nbroad money was reflective of declines in \nunder 30-days deposits, US$133.98 million; \ndemand deposits, US$109.03 million; and \nsavings deposits, US$22.82 million. Partially \noffsetting these declines was an increase of \nUS$166.33 million in over 30-days deposits. \n \nThe decline in deposits can be partly \nattributed to the transfer of the Exchequer \nAccount from CBZ Bank to the Reserve \nBank of Zimbabwe. As at end July 2014, \nGovernment deposits at the Central Bank \namounted to US$46.16 million, compared to \nBroad Money Structure and Growth \nSource: Reserve Bank of Zimbabwe, 2014. \n3 5 \nUS$1.18 million in June 2014. The \nincrease implies a withdrawal of US$44.98 \nmillion from the market. Government depos-\nits at the Central Bank are now excluded \nfrom broad money aggregates. \n \nOn an annual basis, domestic credit grew by \n6.02% from US$3 966.27 million in July \n2013 to US$4 205.23 million, in July 2014. \nThis was on the back of expansions of \nUS$191.72 million (82.54%) in net credit to \nGovernment and US$32.03 million (0.87%) \nin credit to the private sector. Net credit to \nGovernment grew from US$215.53 million \nin July 2013 to US$429.98 million in July \n2014. The growth in credit to Government \nwas largely driven by the conversion of \nforeign currency accounts (FCA) balances \namounting to about US$203 million into \nTreasury Bills (TBs). The FCA balances \nwere owed by the Central Bank. \n \nCredit to the private sector grew by (0.87%) \nfrom \nUS$3 \n671.82 \nin \nJuly \n2013 \nto \nUS$3 703.84 in July 2014. This was partially \na result of the persistent liquidity crunch as \nwell as increased the risk aversion of financial \ninstitutions as they resort to precautionary \nlending as a way of mitigating the increase in \nnon-performing loans. \n \nNon-performing loans refer to those financial \nassets from which banks no longer receive \ninterest and/or installment payments as \nscheduled. \nThe \noverall \nratio \nof \nnon-\nperforming loans to total credit in the banking \nsector increased to 18.49% in June 2014, from \n14.51% recorded in June 2013. \n \nINFLATION DEVELOPMENTS \n \nAnnual Inflation \n \nAnnual headline inflation, which has been in \nthe negative territory since February 2014, \nsurged to 0.31% in July 2014, from -0.08% in \nJune 2014. This was largely on account of \nincreases in non food inflation. \nYear-on-Year food inflation increased to \n-2.88% in July 2014, from -3.54% in June \n2014, largely driven by food products such as \nbaby cereal, yeast, gravy powder and salt. \nSource: Reserve Bank of Zimbabwe, 2014. \nStructure of Domestic Credit \n4 6 \nPrices of sugar, jam, honey, chocolate and \nconfectionery; fruit and vegetables, however, \nrecorded a decline. \nAnnual non-food inflation accelerated to \n1.91% in July 2014, from 1.67% in June \n2014, mainly driven by increases in housing \nrentals, alcoholic beverages and tobacco, as \nwell as transport, health and educational \nservices. \nMonth-on-Month Inflation \nMonth-on-month inflation stood at 0.01% in \nJuly 2014, up from -0.03% in June, driven by \nincreases in prices of non food items. \nMonthly food prices decelerated to -0.46% in \nJuly 2014, from -0.12% in June, on the back \nof decreases in fruits, vegetables, bread and \ncereals, coffee, tea and cocoa, oil and fats, \nand meat prices. \nThe decline in monthly food inflation was, \nhowever, partially offset by increases in \nprices of milk, cheese and eggs; fish and sea \nfood; and mineral waters, soft drinks, fruit \nand vegetable juices. \nMonthly non-food inflation surged to 0.24% \nin July 2014, from -0.02% in June 2014, on \naccount of increases in education, restaurant \nand hotels, and health services; housing, \nwater, electricity, gas and other fuels; \nclothing and footwear prices. \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nSource: ZIMSTATS, 2014. \n7 \nNATIONAL \nPAYMENTS \nSYSTEM \nDEVELOPMENTS \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \nThe value of transactions processed through \nthe RTGS system in July 2014 increased by \n7% to US$3.9 billion, from US$3.7 billion in \nJune 2014. In volume terms, transactions \nregistered an increase of 3% from 193 582 to \n199 587 during the same period. \nCard Based Transactions \nThe total value of card based transactions \nincreased by 8.74% to US$392.81 million in \nJuly 2014, from US$361.25 million in June \n2014. \nMobile and Internet Based Transactions \nThe value of mobile and internet based \ntransactions increased by 6.6%, from \nUS$388.46 million, in June 2014 to \nUS$414.09 million in July 2014. \nCheque Transactions \nThe value of cheque transactions declined to \nUS$11.72 million in July 2014, from \nUS$12.42 million in June 2014. \n \n \n \n \n \n \n \n \nReserve Bank of Zimbabwe \nAugust 2014 \n \nSource: Reserve Bank of Zimbabwe, 2014. \n8 \nNOTES \n9 \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n1. Monetary Statistics \n \n \n1.1 Monetary Aggregates \n \n \n \n \n \n11 \n \n1.2 Broad Money Survey \n \n \n \n \n \n12 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n13 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n14 \n \n \n2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 15 \n \n2.2 Sectoral Analysis of Merchant Banks Loans and Advances \n16 \n \n2.3 Sectoral Analysis of Merchant Acceptances \n \n \n17 \n \n2.4 Sectoral Analysis of Commercial Banks Deposits \n \n18 \n \n2.5 Sectoral Analysis of Merchant Banks Deposits \n \n19 \n \n3. External Statistics \n \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n20 \n \n4. Interest Rates \n \n \n4.1 Lending Rates \n \n \n \n \n \n \n21 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n22 \n \n5. Inflation \n \n \n5.1 Monthly Inflation \n \n \n \n \n \n23 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n24 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n25 \n \n \n \n \n \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n7. Commercial Banks \n \n \n7.1 Assets \n \n \n \n \n \n \n \n26 \n \n7.2 Liabilities \n \n \n \n \n \n \n27 \n \n8. Accepting Houses \n \n \n8.1 Assets \n \n \n \n \n \n \n \n28 \n \n8.2 Liabilities \n \n \n \n \n \n \n29 \n \n 9. Building Societies \n \n \n9.1 Assets \n \n \n \n \n \n \n \n30 \n \n9.2 Liabilities \n \n \n \n \n \n \n31 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n32 \n \n11. Savings with Financial Institutions \n \n \n \n \n33 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n34 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n \n \n \n13.1 Values of Transactions \n \n \n \n \n35 \n \n13.2 Volumes of Transactions \n \n \n \n \n36 \n10 \n11 \n12 \n13 \n14 \n15 \n1. These are large corporation with business operations covering across a number of sectors. \n16 \n17 \nTABLE 2.3 :SECTORAL ANALYSIS OF MERCHANT BANKS ACCEPTANCES \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nDISTRIBUTION \nFINANCIAL \nFINANCIAL \nMANUFACTURING \nMINING \nSERVICES \nTRANSPORT \nINDIVIDUALS \nCONGLOMERATES \nTOTAL \nEND OF \n \n \nINVESTMENT ORGANISATIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n70.0 \n0.0 \n0.0 \n0.0 \n3,641.0 \n18,088.3 \n1,189.0 \n11,190.4 \n0.0 \n0.0 \n34,178.7 \nFEBRUARY \n100.0 \n0.0 \n0.0 \n0.0 \n8,000.0 \n14,889.0 \n1,569.0 \n0.0 \n0.0 \n0.0 \n24,558.3 \nMARCH \n70.0 \n0.0 \n0.0 \n0.0 \n7,860.0 \n0.0 \n154.0 \n0.0 \n15,400.0 \n0.0 \n23,484.0 \nAPRIL \n5,100.0 \n0.0 \n0.0 \n0.0 \n7,620.0 \n14,889.0 \n278.0 \n0.0 \n15,200.0 \n0.0 \n43,087.0 \nMAY \n5,100.0 \n0.0 \n0.0 \n0.0 \n7,500.0 \n6,330.8 \n2,109.4 \n0.0 \n1,000.0 \n0.0 \n22,040.2 \nJUNE \n5,100.0 \n0.0 \n0.0 \n0.0 \n5,760.0 \n0.0 \n212.0 \n0.0 \n15,210.0 \n0.0 \n26,282.0 \nJULY \n5,100.0 \n0.0 \n0.0 \n0.0 \n7,000.0 \n0.0 \n212.0 \n0.0 \n15,110.0 \n0.0 \n27,422.0 \nAUGUST \n5,100.0 \n0.0 \n0.0 \n0.0 \n6,000.0 \n0.0 \n1,065.0 \n0.0 \n0.0 \n0.0 \n12,165.0 \nSEPTEMBER \n5,000.0 \n0.0 \n0.0 \n0.0 \n5,800.0 \n0.0 \n165.0 \n0.0 \n900.0 \n0.0 \n11,865.0 \nOCTOBER \n0.0 \n0.0 \n0.0 \n0.0 \n5,150.0 \n0.0 \n5,135.0 \n0.0 \n0.0 \n0.0 \n10,285.0 \nNOVEMBER \n5,000.0 \n0.0 \n0.0 \n0.0 \n8,000.0 \n0.0 \n2,035.0 \n0.0 \n0.0 \n0.0 \n27,595.6 \nDECEMBER \n4,745.3 \n0.0 \n0.0 \n0.0 \n6,750.6 \n12,304.4 \n1,992.3 \n0.0 \n0.0 \n0.0 \n25,792.6 \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n19,047.7 \n826.0 \n0.0 \n0.0 \n3,000.0 \n12,673.6 \n359,6 \n0.0 \n1,809.9 \n0.0 \n37,357.2 \nFEBRUARY \n5,000.0 \n0.0 \n0.0 \n0.0 \n1,107.5 \n12,573.7 \n373.2 \n0.0 \n3,445.9 \n0.0 \n22,500.3 \nMARCH \n5,000.0 \n8.7 \n0.0 \n0.0 \n2,352.5 \n0.0 \n153.3 \n0.0 \n4,472.0 \n0.0 \n11,986.5 \n \n \n \n \n \n \n \n \n \n \n \n \n18 \n19 \n TABLE 2.5 : SECTORAL ANALYSIS OF MERCHANT BANKS DEPOSITS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICUL-\nTURE \nCOMMUNICA-\nTIONS \nCONSTRUC-\nTION \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL MANUFACTUR-\nING \nMINING \nSERVICES \nTRANSPORT \nINDIVIDUALS \nCONGLOMER-\nATES \nTOTAL \nEND OF \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11,744.1 \n8,250.4 \n7.1 \n3,238.1 \n129,742.5 \n80,306.4 \n17,664.5 \n9,146.5 \n158,059.3 \n1,650.5 \n113,108.8 \n3,038.0 \n535,956.3 \nFEBRUARY \n14,684.8 \n5,815.5 \n6.8 \n23,523.2 \n131,181.2 \n95,143.4 \n21,911.4 \n22,184.5 \n131,968.5 \n1,350.6 \n149,680.8 \n3,038.0 \n600,488.7 \n MARCH \n 46,519.8 \n 5,039.7 \n1,662.6 \n4,119.3 \n127,903.5 \n 91,695.5 \n 17,886.8 \n 39,142.1 \n143,818.6 \n 4,669.7 \n 83,525.1 \n28,564.2 \n594,546.8 \nAPRIL \n24,233.2 \n8,046.5 \n1,868.8 \n27,036.4 \n121,160.1 \n109,064.2 \n36,456.3 \n30,240.9 \n151,505.2 \n4,892.5 \n75,547.7 \n29,200.4 \n619,252.1 \nMAY \n10,329.7 \n6,452.6 \n1,765.0 \n12,678.2 \n115,998.5 \n103,213.2 \n35,266.7 \n25,989.8 \n183,915.3 \n6,141.2 \n63,313.3 \n39,110.5 \n604,173.9 \nJUNE \n10,271.8 \n7,330.0 \n1,698.4 \n9,186.1 \n134,312.0 \n129,103.5 \n26,823.0 \n22,693.9 \n173,514.3 \n4,286.6 \n62,007.9 \n30,818.9 \n612,046.3 \nJULY \n4,473.9 \n5,298.2 \n270.1 \n27,217.9 \n132,809.8 \n98,744.9 \n30,365.9 \n21,415.7 \n217,331.4 \n2,077.4 \n57,143.0 \n33,601.7 \n630,749.9 \nAUGUST \n6,744.1 \n6,765.6 \n288.6 \n26,394.2 \n123,569.3 \n83,662.1 \n33,578.1 \n18,015.7 \n222,325.8 \n2,979.2 \n92,733.9 \n33,058.9 \n650,115.6 \nSEPTEMBER \n16,997.7 \n8,628.2 \n300.8 \n27,315.7 \n124,411.1 \n85,232.7 \n50,279.5 \n27,896.5 \n208,113.3 \n2,000.9 \n85,429.2 \n34,840.8 \n671,446.4 \nOCTOBER \n4,473.9 \n5,298.2 \n270.1 \n3,119.1 \n124,342.3 \n115,774.8 \n30,524.5 \n21,415.7 \n191,204.2 \n2,077.4 \n153,329.1 \n32,049.8 \n683,879.0 \nNOVEMBER \n12,872.8 \n10,868.0 \n13,414.5 \n1,649.6 \n174,107.7 \n60,405.7 \n18,484.7 \n35,828.3 \n188,441.9 \n4,251.7 \n203,879.7 \n27,745.0 \n751,949.6 \nDECEMBER \n12,164.3 \n5,900.3 \n14,197.9 \n3,080.8 \n173,009.4 \n60,501.2 \n17,631.4 \n137,537.4 \n198,977.5 \n2,664.8 \n79,504.3 \n32,534.7 \n737,703.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11,723.2 \n6,581.0 \n10,921.0 \n751.4 \n180,889.6 \n64,042.8 \n16,845.3 \n28,513.2 \n215,563.4 \n2,547.7 \n113,832.1 \n34,578.4 \n686,789.2 \nFEBRUARY \n10,020.1 \n7,034.4 \n11,383.1 \n1,419.4 \n196,108.5 \n51,751.6 \n16,973.1 \n28,365.1 \n187,610.2 \n6,432.7 \n70,211.6 \n34,798.8 \n622,108.3 \n MARCH \n58,914.7 \n8,588.1 \n7,605.8 \n1,590.7 \n142,308.7 \n90,728.3 \n28,015.0 \n25,273.9 \n185,705.5 \n1,965.0 \n164,230.8 \n29,295.2 \n744,221.5 \nAPRIL \n31,659.0 \n5,702.7 \n18,835.7 \n1,538.1 \n177,040.5 \n97,838.1 \n22,611.8 \n28,606.2 \n187,727.7 \n3,883.5 \n139,589.7 \n31,245.5 \n746,278.5 \nMAY \n17,827.5 \n5,756.6 \n18,786.2 \n1,258.9 \n187,857.9 \n99,688.5 \n19,315.6 \n44,794.2 \n197,568.8 \n3,436.3 \n132,325.5 \n31,463.1 \n760,079.2 \nJUNE \n4,255.3 \n6,236.6 \n10,753.7 \n1,131.2 \n156,052.6 \n105,613.0 \n18,935.8 \n59,790.7 \n184,390.9 \n3,652.3 \n107,354.6 \n30,017.1 \n688,183.8 \nJULY \n6,597.9 \n9,544.9 \n22,034.9 \n17,579.6 \n155,178.3 \n101,057.7 \n5,786.5 \n25,167.1 \n139,688.0 \n2,369.4 \n102,677.4 \n25,029.7 \n612,711.4 \nAUGUST \n1,770.3 \n9,723.1 \n17,643.5 \n1,553.8 \n150,874.9 \n71,592.0 \n19,054.2 \n10,779.0 \n169,881.2 \n2,644.4 \n113,074.5 \n29,546.0 \n598,137.0 \nSEPTEMBER \n40,766.9 \n9,757.2 \n17,595.4 \n10,209.6 \n157,646.1 \n87,504.2 \n20,864.5 \n12,486.3 \n173,696.6 \n1,527.2 \n125,919.4 \n29,482.7 \n687,456.0 \nOCTOBER \n43,179.4 \n7,366.8 \n2,258.4 \n11,060.8 \n118,559.1 \n159,315.4 \n45,674.2 \n11,973.6 \n164,560.7 \n744.6 \n98,580.9 \n29,513.7 \n692,787.6 \nNOVEMBER \n24,169.8 \n8,708.3 \n2,551.4 \n12,523.2 \n165,553.2 \n155,945.5 \n43,847.5 \n13,222.0 \n132,189.4 \n552.7 \n138,372.4 \n29,491.4 \n727,126.8 \nDECEMBER \n8,574.8 \n9,071.2 \n2,371.6 \n8,068.6 \n169,324.2 \n150,460.6 \n39,469.1 \n90,808.8 \n155,859.5 \n944.4 \n104,850.7 \n29,324.4 \n769,127.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n15,879.0 \n8,509.2 \n1,960.3 \n9,793.9 \n125,257.8 \n76,835.2 \n39,381.2 \n27,399.4 \n62,806.6 \n1,704.9 \n63,106.3 \n3,976.3 \n436,610.0 \nFEBRUARY \n14,501.9 \n7,870.0 \n1,650.8 \n11,407.6 \n119,069.4 \n60,798.1 \n39,576.4 \n31,886.5 \n57,670.9 \n894..0 \n93,028.3 \n3,768.6 \n441,228.5 \n MARCH \n2,196.7 \n147.0 \n4.5 \n4,096.0 \n50,608.6 \n36,216.9 \n19,461.2 \n646.7 \n128,089.0 \n3,104.7 \n284,086.9 \n5,062.7 \n533,720.9 \nAPRIL \n4.1 \n0.0 \n0.0 \n0.0 \n40,152.1 \n6.2 \n12,546.2 \n2.8 \n38,392.5 \n0.0 \n14,594.4 \n5,101.6 \n110,799.9 \nMAY \n4.1 \n0.0 \n0.0 \n0.0 \n39,314.7 \n6.2 \n12,000.6 \n2.8 \n37,019.9 \n0.0 \n14,000.5 \n4,933.9 \n107,282.7 \nJUNE \n0.0 \n0.0 \n0.0 \n0.0 \n18,089.9 \n0.0 \n11,788.0 \n0.0 \n29,651.4 \n0.0 \n12,829.4 \n3,623.3 \n75,981.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n20 \nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nEnd Period \n1999 \n2000 \n2001 \n2002 \n2003 \n2004 \n2005 \n2006 \n2007 \n2008 \n2009 \n2010 \n2011 \n2012 \n2013 \n(US$ millions) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLong-Term External Debt \n3,530 \n3,227 \n3,255 \n3,327 \n3,644 \n3,927 \n3,805 \n3,965 \n4,032 \n4,464 \n4,951 \n5,175 \n6,096 \n6,607 \n7,370 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nGovernment \n2,461 \n2,249 \n2,328 \n2,376 \n2,617 \n2,844 \n2,895 \n3,024 \n3,054 \n3,464 \n4,037 \n4,095 \n4,638 \n4,929 \n5,012 \nBilateral Creditors \n935 \n1,050 \n1,115 \n1,107 \n1,255 \n1,455 \n1,438 \n1,520 \n1,520 \n1,863 \n2,308 \n2,325 \n2,597 \n2,694 \n2,928 \nMultilateral Creditors \n1,235 \n1,199 \n1,213 \n1,269 \n1,362 \n1,389 \n1,457 \n1,504 \n1,524 \n1,592 \n1,729 \n1,770 \n2,041 \n2,235 \n2,084 \nPrivate Creditors \n291 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n10 \n10 \n0 \n0 \n0 \n0 \n0 \nPublic Enterprises \n543 \n534 \n568 \n616 \n698 \n714 \n709 \n766 \n790 \n825 \n857 \n938 \n1,092 \n1,198 \n1,356 \nBilateral Creditors \n316 \n301 \n315 \n351 \n403 \n442 \n439 \n464 \n474 \n497 \n453 \n238 \n711 \n703 \n858 \nMultilateral Creditors \n224 \n233 \n253 \n265 \n295 \n272 \n270 \n302 \n316 \n327 \n403 \n700 \n382 \n495 \n498 \nPrivate Creditors \n3 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \nMonetary Authorities \n364 \n292 \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n138 \n127 \n125 \n125 \nMultilateral Creditors - IMF \n364 \n292 \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n138 \n127 \n125 \n125 \nPrivate \n162 \n152 \n67 \n56 \n41 \n78 \n57 \n45 \n51 \n35 \n57 \n142 \n366 \n480 \n1,002 \nShort-Term External Debt \n532 \n298 \n167 \n183 \n169 \n144 \n173 \n281 \n387 \n226 \n1,198 \n1,382 \n1,289 \n890 \n1,564 \nSupplier's Credits \n150 \n42 \n13 \n26 \n51 \n69 \n107 \n122 \n178 \n41 \n193 \n286 \n134 \n30 \n0 \nReserve Bank \n \n \n \n \n \n \n \n \n \n \n642 \n642 \n618 \n614 \n614 \nPrivate \n382 \n256 \n154 \n157 \n118 \n75 \n66 \n159 \n209 \n185 \n363 \n454 \n537 \n246 \n950 \nTotal External Debt \n4,062 \n3,525 \n3,422 \n3,510 \n3,812 \n4,071 \n3,978 \n4,246 \n4,607 \n4,690 \n6,289 \n6,695 \n7,385 \n7,497 \n8,934 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nGross Domestic Product \n5,990 \n6,107 \n10,887 \n6,715 \n5,037 \n4,299 \n2,918 \n6,645 \n4,000 \n3,175 \n6,133 \n7,433 \n8,865 \n8,865 \n12,973 \nExternal Debt / GDP \n68% \n57.7% 31.4% 52.3% 75.7% 94.7% 136.3% \n63.9% \n110.5% 147.7% 102.5% \n90.1% \n83.3% 84.6% 68.9% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nSOURCE: Ministry of \nFinance and Reserve Bank \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n21 \nTABLE 4.1 LENDING RATES (percent per annum)1 \n \nCommercial Banks \nMerchant Banks \n \n \nWeighted Average Lending \nRates3 \n \nWeighted Average Lending \nRates3 \nEnd Period \nNominal \nLending \nRates2 \nIndividuals \nCorporate \nNominal \nLending \nRates2 \nIndividuals \nCorporate \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \nJan \n10.00-35.00 \n15.58 \n10.81 \n13.00-25.00 \n17.96 \n14.42 \nFeb \n10.00-35.00 \n14.83 \n10.53 \n13.00-25.00 \n17.93 \n14.36 \nMar \n6.00-35.00 \n14.32 \n10.19 \n14.00-25.00 \n17.80 \n14.35 \nApr \n3.00-35.00 \n14.58 \n9.66 \n14.00-25.00 \n17.77 \n14.35 \nMay \n9.00-35.00 \n14.25 \n9.89 \n13.00-23.00 \n17.66 \n17.02 \nJun \n9.00-35.00 \n14.29 \n9.46 \n15.00-22.50 \n17.78 \n16.89 \nJul \n6.00-35.00 \n14.39 \n9.65 \n15.00-28.00 \n17.70 \n16.97 \nAug \n6.00-35.00 \n13.82 \n9.32 \n15.00-23.00 \n18.32 \n16.92 \nSep \n6.00-35.00 \n14.03 \n9.37 \n15.00-22.50 \n18.31 \n16.94 \nOct \n6.00-35.00 \n13.95 \n9.25 \n15.00-23.00 \n18.67 \n17.66 \nNov \n6.00-35.00 \n14.18 \n9.40 \n15.00-23.00 \n18.84 \n17.72 \nDec \n6.00-35.00 \n14.13 \n9.35 \n15.00-23.00 \n18.84 \n17.76 \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \nJan \n6.00-35.00 \n14.09 \n9.30 \n15.00-23.00 \n18.88 \n17.74 \nFeb \n6.00-35.00 \n14.08 \n9.32 \n15.00-23.00 \n18.88 \n17.73 \nMar \n6.00-35.00 \n14.24 \n9.27 \n15.00-23.00 \n18.88 \n17.73 \nApr \n6.00-35.00 \n14.22 \n9.12 \n15.00-23.00 \n18.88 \n17.73 \nMay \n6.00-35.00 \n14.39 \n9.25 \n15.00-23.00 \n18.87 \n17.74 \nJune \n6.00-35.00 \n14.44 \n9.33 \n15.00-23.00 \n19.00 \n18.00 \nJuly \n6.00-35.00 \n14.33 \n9.45 \n15.00-23.00 \n19.00 \n18.00 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNotes \n \n \n \n \n \n \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n2. Nominal Lending Rates depict the range of rates quoted by banks. \n3. Lending rates exclude rates on staff loans. \n \n \n22 \nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)1 \n \n \n \n \n \n \n \n \n \nCOMMERCIAL BANKS \nACCEPTING HOUSES \n \n \n \n \n \n \n \n \nEND OF \nSAVINGS \n3 MONTHS \n3 MONTHS \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \nJANUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nFEBRUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nMARCH \n0.15-8.00 \n4.00-20.00 \n8.00-12.00 \nAPRIL \n0.15-8.00 \n4.00-20.00 \n8.00-12.00 \nMAY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nJUNE \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nJULY \n0.15-8.00 \n3.00-20.00 \n6.00-17.00 \nAUGUST \n0.15-8.00 \n3.00-20.00 \n6.00-17.00 \nSEPTEMBER \n0.15-8.00 \n3.00-20.00 \n11.00-12.00 \nOCTOBER \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nNOVEMBER \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nDECEMBER \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \n \n \n \n \n2014 \n \n \n \nJANUARY \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nFEBRUARY \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nMARCH \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nAPRIL \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nMAY \n0.15-8.00 \n3.00-20.00 \n11.00-12.00 \nJUNE \n0.15-8.00 \n3.00-20.00 \n11.00-12.00 \nJULY \n0.15-8.00 \n3.00-20.00 \n11.00-12.00 \n \n \n \n \n \n \n \n \n1. \nThe range of rates quoted by banks during the period. \n2. \nThree (3) months deposit rates revised to exclude rates on inactive or dormant \naccounts. \n \n \n23 \n1. Source: ZIMSTATS. To reflect changing expenditure \npatterns, ZIMSTAT introduced a revised CPI basket and \nrebased CPI figures to December 2012=100. \n24 \n1. Source: ZIMSTATS. To reflect changing expenditure \npatterns, ZIMSTAT introduced a revised CPI basket and \nrebased CPI figures to December 2012=100. \n25 \n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES \n \n \n \n \n \n \n \n \n \n \n \n \n \nSA \nBW \nJAPANESE \nEUROPEAN \nPOUND \nEND OF \nRAND/1 \nPULA/1 \nYEN/1 \nCURRENCY/2 \nSTERLING/2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n9.03 \n8.05 \n90.90 \n1.36 \n1.58 \nFEBRUARY \n8.84 \n8.04 \n92.36 \n1.31 \n1.52 \nMARCH \n9.26 \n8.30 \n94.13 \n1.28 \n1.51 \nAPRIL \n8.98 \n8.10 \n97.76 \n1.31 \n1.55 \nMAY \n10.08 \n8.65 \n100.85 \n1.30 \n1.52 \nJUNE \n9.94 \n8.60 \n98.74 \n1.31 \n1.53 \nJULY \n9.83 \n8.49 \n98.31 \n1.33 \n1.53 \nAUGUST \n10.33 \n8.75 \n98.18 \n1.32 \n1.55 \nSEPTEMBER \n10.10 \n8.58 \n97.92 \n1.35 \n1.62 \nOCTOBER \n9.95 \n8.50 \n98.28 \n1.37 \n1.60 \nNOVEMBER \n10.19 \n8.64 \n102.33 \n1.36 \n1.64 \nDECEMBER \n10.43 \n8.72 \n105.02 \n1.38 \n1.65 \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11.21 \n9.09 \n102.47 \n1.35 \n1.65 \nFEBRUARY \n10.71 \n8.85 \n101.74 \n1.37 \n1.67 \nMARCH \n10.56 \n8.85 \n102.38 \n1.38 \n1.68 \nAPRIL \n10.57 \n8.85 \n102.38 \n1.38 \n1.68 \nMAY \n10.44 \n8.73 \n101.61 \n1.36 \n1.67 \nJUNE \n10.58 \n8.67 \n101.30 \n1.36 \n1.70 \nJULY \n10.68 \n8.85 \n102.76 \n1.36 \n1.69 \n \n \n \n \n \n \n \n \n \n \n \n \n1. Foreign currency per US Dollar. \n \n \n \n \n2. US Dollar per unit of foreign currency. \n \n \n \n \n26 \nTABLE 7.1: COMMERCIAL BANKS - ASSETS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \nSecurities \n \n \nLoans & Contingent \nOther \nNon \nFinan-\ncial \nTotal \nEnd of \nNotes \n \n \n \n \n \n \nTotal \nOther Balances Advances \nAssets \nAssets \nAssets \nAssets \n \n& \nBalances \nBalances \nBalances \n \n \n \n Liquid \nwith RBZ \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury Agric PEs \n Assets \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n May \n250.9 \n400.9 \n198.2 \n296.7 \n253.5 \n75.4 \n5.3 \n1,480.8 \n25.8 \n2,673.2 \n389.8 \n208.0 \n382.9 \n5,160.5 \nJun \n227.2 \n416.4 \n171.9 \n257.5 \n271.8 \n75.5 \n5.3 \n1,425.8 \n26.0 \n2,698.3 \n364.1 \n217.8 \n384.6 \n5,116.5 \nJul \n266.5 \n352.8 \n164.2 \n266.1 \n263.8 \n110.2 \n6.4 \n1,429.9 \n26.5 \n2,701.3 \n337.1 \n229.8 \n387.0 \n5,111.7 \n Aug. \n322.8 \n277.9 \n136.4 \n242.5 \n237.8 \n61.1 \n6.4 \n1,285.0 \n26.2 \n2,813.0 \n367.0 \n218.3 \n385.2 \n5,094.7 \n Sep \n334.1 \n336.0 \n178.0 \n327.8 \n226.3 \n111.5 \n6.0 \n1,519.7 \n26.9 \n2773.3 \n298.8 \n234.7 \n386.4 \n5,239.8 \nOct \n379.4 \n387.5 \n137.1 \n219.7 \n260.9 \n99.4 \n5.0 \n1,489.0 \n17.3 \n2,809.1 \n316.7 \n257.3 \n371.5 \n5,260.9 \nNov \n333.3 \n312.7 \n160.2 \n197.1 \n261.1 \n108.6 \n6.5 \n1,379.5 \n26.6 \n2,789.7 \n291.3 \n235.4 \n369.8 \n5,092.3 \nDec \n 354.8 \n367.8 \n135.5 \n 287.3 \n199.9 \n118.0 \n6.6 \n1,469.9 \n28.4 \n2,799.5 \n490.8 \n259.5 \n347.6 \n5,395.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n356.9 \n395.3 \n134.1 \n253.1 \n153.0 \n119.2 \n5.4 \n1,417.0 \n27.9 \n2,866.4 \n516.1 \n362.2 \n353.9 \n5,543.5 \nFeb \n334.3 \n387.0 \n130.5 \n285.0 \n195.0 \n193.2 \n5.4 \n1,530.0 \n32.8 \n2,718.1 \n534.5 \n502.9 \n351.1 \n5,669.5 \nMar \n304.6 \n354.1 \n147.4 \n280.3 \n165.9 \n255.2 \n5.4 \n1,512.9 \n28.7 \n2,737.9 \n522.7 \n538.8 \n349.7 \n5,690.7 \n Apr \n353.3 \n367.8 \n154.4 \n274.9 \n205.7 \n247.0 \n5.4 \n1,608.4 \n32.5 \n2,844.6 \n534.1 \n345.3 \n348.6 \n5,713.6 \n May \n327.8 \n421.1 \n120.5 \n372.8 \n211.5 \n241.7 \n5.4 \n1,700.6 \n27.5 \n2,836.8 \n591.4 \n366.2 \n347.1 \n5,869.6 \nJun \n347.1 \n404.7 \n166.4 \n338.1 \n198.0 \n261.9 \n0.0 \n1,716.1 \n16.2 \n2,863.2 \n607.8 \n362.9 \n346.1 \n5,912.6 \nJul \n347.1 \n321.3 \n176.7 \n276.3 \n186.0 \n246.2 \n0.0 \n1,553.7 \n15.4 \n2,940.4 \n597.5 \n347.4 \n345.6 \n5,800.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n27 \nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nOf which \n \n \n \n \n \n \n \n \nand \nLiabilities Liabilities Liabilities Liabilities \nto the \nEnd of \nDemand \nSavings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther Banks Reserves \n \n \n \nPublic \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \nMay \n2,066.0 \n913.0 \n479.9 \n3,459.0 \n346.5 \n0.0 \n81.8 \n674.4 \n389.8 \n209.0 \n5,160.4 \n3,459.0 \nJun \n2,013.9 \n919.6 \n298.9 \n3,232.4 \n553.0 \n0.0 \n74.1 \n702.3 \n364.1 \n190.6 \n5,116.5 \n3,232.4 \nJul \n2,054.1 \n916.2 \n245.9 \n3,216.2 \n578.3 \n0.0 \n77.5 \n699.7 \n337.1 \n202.9 \n 5,111.7 \n3,216.2 \nAug \n2,017.4 \n879.5 \n253.2 \n3,150.1 \n608.2 \n0.0 \n63.8 \n694.9 \n367.0 \n210.8 \n5,094.7 \n3,150.1 \nSep \n2,082.1 \n899.3 \n294.5 \n3,275.8 \n674.6 \n0.0 \n 74.0 \n708.8 \n298.8 \n207.7 \n5,239.8 \n3,275.8 \nOct \n2,125.9 \n880.0 \n349.3 \n3,355.2 \n611.4 \n0.0 \n68.5 \n703.0 \n316.7 \n206.0 \n5,260.9 \n3,355.2 \nNov \n1,953.4 \n861.2 \n 371.6 \n3,186.2 \n627.8 \n0.0 \n75.8 \n689.7 \n291.3 \n221.6 \n5,092.3 \n3,186.2 \nDec \n 1,980.4 \n813.6 \n 517.1 \n3,311.1 \n614.0 \n0.0 \n65.0 \n730.9 \n490.8 \n 184.0 \n 5,395.7 \n3,311.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n2,153.6 \n802.7 \n403.5 \n3,359.8 \n661.3 \n0.0 \n55.9 \n592.9 \n516.1 \n357.5 \n5,543.5 \n3,359.8 \nFeb \n2,111.8 \n878.8 \n494.6 \n3,485.2 \n630.0 \n0.0 \n51.1 \n609.5 \n534.5 \n359.0 \n5,669.5 \n3,485.2 \nMar \n2,156.8 \n919.6 \n454.2 \n3,530.6 \n635.5 \n0.0 \n44.8 \n596.4 \n522.7 \n360.7 \n5,690.7 \n3,530.6 \n Apr \n2,267.5 \n958.3 \n435.7 \n3,661.5 \n553.5 \n0.0 \n17.0 \n595.0 \n534.1 \n352.4 \n5,713.6 \n3,661.5 \n May \n2,294.9 \n975.8 \n451.7 \n3,722.4 \n585.0 \n0.0 \n13.7 \n591.1 \n591.4 \n366.1 \n5,869.6 \n3,722.4 \nJun \n2,248.9 \n989.8 \n506.1 \n3,744.8 \n543.8 \n0.0 \n48.3 \n591.2 \n607.8 \n376.7 \n5,912.6 \n3,744.8 \nJul \n2,130.4 \n892.9 \n606.6 \n3,629.9 \n560.8 \n0.0 \n39.5 \n571.5 \n597.5 \n400.6 \n5,800.0 \n3,629.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n28 \nTABLE 8.1 : ACCEPTING HOUSES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLoans & Contingent \nOther \nNon Financial \nTotal \n \nEnd of \nNotes \n \n \n \n \n \nTotal \nOther \nBalances Advances \nAssets \nAssets \nAssets \nAssets \n \n \n& \nBalances Balances Balances \n \n \nLiquid \nwith RBZ \n \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury \n Assets \n \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJul \n1.9 \n1.3 \n2.8 \n2.2 \n3.4 \n0.0 \n11.6 \n0.0 \n264.0 \n34.8 \n51.7 \n35.5 \n397.6 \n \nAug \n1.4 \n1.7 \n0.4 \n0.6 \n3.4 \n0.0 \n7.4 \n0.0 \n265.6 \n34.5 \n45.5 \n37.3 \n390.3 \n \nSep \n1.2 \n0.8 \n0.0 \n0.3 \n3.4 \n0.0 \n5.7 \n0.0 \n233.7 \n35.8 \n46.6 \n38.6 \n360.4 \n \nOct \n0.9 \n0.5 \n0.4 \n0.6 \n2.5 \n0.0 \n4.8 \n0.0 \n234.8 \n35.6 \n41.3 \n38.7 \n355.2 \n \nNov \n0.4 \n0.6 \n0.1 \n0.2 \n2.5 \n0.0 \n3.9 \n0.0 \n231.9 \n35.5 \n39.6 \n38.3 \n349.2 \n \nDec \n1.1 \n0.5 \n0.1 \n0.4 \n2.5 \n0.0 \n4.6 \n0.0 \n232.7 \n35.5 \n29.2 \n40.5 \n342.5 \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n0.1 \n0.5 \n0.0 \n0.2 \n1.8 \n0.0 \n2.6 \n0.0 \n81.3 \n10.0 \n23.5 \n34.7 \n152.1 \n \nFeb \n0.2 \n0.4 \n0.1 \n0.1 \n1.8 \n0.0 \n2.5 \n0.0 \n77.6 \n9.0 \n24.1 \n34.6 \n147.9 \n \nMar \n0.1 \n0.1 \n0.1 \n0.1 \n1.6 \n0.0 \n2.0 \n0.0 \n53.2 \n8.7 \n21.8 \n32.5 \n118.1 \n \nApr \n0.1 \n0.4 \n0.2 \n0.3 \n1.6 \n0.0 \n2.6 \n0.0 \n75.2 \n8.5 \n22.2 \n32.4 \n140.9 \n \nMay \n0.2 \n0.4 \n0.0 \n0.1 \n0.3 \n0.0 \n0.9 \n0.0 \n68.7 \n0.1 \n14.6 \n30.3 \n114.6 \n \nJun \n0.2 \n0.2 \n0.1 \n0.1 \n0.6 \n0.0 \n1.2 \n0.0 \n66.8 \n0.1 \n14.7 \n29.6 \n112.4 \n \nJul \n0.2 \n0.3 \n0.0 \n0.1 \n0.3 \n0 \n0.9 \n0.0 \n66.9 \n0.1 \n12.9 \n28.7 \n109.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n29 \nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nLiabilities to the \n \n \n \n \n \n \n \n \nand \nLiabilities \nLiabilities \nLiabilities \nPublic \nEnd of Demand Savings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther \nBanks \nReserves \n \n \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \nMay \n112.2 \n67.1 \n54.4 \n233.6 \n46.7 \n0.0 \n1.2 \n-99.4 \n34.6 \n174.3 \n391.0 \n233.6 \nJun \n114.6 \n56.2 \n52.3 \n223.1 \n46.7 \n0.0 \n1.2 \n-91.2 \n34.6 \n191.2 \n405.6 \n223.1 \nJul \n111.3 \n82.7 \n27.0 \n220.9 \n47.1 \n0.0 \n1.2 \n-94.1 \n34.8 \n187.8 \n397.6 \n220.9 \nAug \n109.5 \n80.6 \n 25.2 \n215.2 \n47.5 \n0.0 \n1.2 \n-101.7 \n34.5 \n 193.6 \n390.3 \n 215.2 \nSep \n111.2 \n82.6 \n19.0 \n212.8 \n47.9 \n0.0 \n1.2 \n-114.9 \n35.8 \n177.8 \n360.4 \n212.8 \nOct \n112.5 \n80.4 \n14.9 \n207.8 \n48.3 \n0.0 \n1.2 \n-114.3 \n35.6 \n176.7 \n355.2 \n207.8 \nNov \n122.6 \n59.7 \n20.0 \n202.3 \n48.2 \n0.0 \n1.2 \n-118.2 \n35.5 \n180.2 \n349.2 \n202.3 \nDec \n134.5 \n56.4 \n6.9 \n 197.8 \n48.9 \n0.0 \n1.2 \n-127.6 \n35.5 \n186.7 \n342.5 \n 197.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n36.8 \n57.7 \n5.7 \n100.1 \n11.7 \n0.0 \n0.0 \n0.7 \n10.0 \n29.6 \n152.1 \n100.1 \nFeb \n47.6 \n48.3 \n0.0 \n95.8 \n11.7 \n0.0 \n0.0 \n-10.9 \n9.0 \n42.3 \n147.9 \n95.8 \nMar \n41.0 \n55.8 \n0.0 \n96.9 \n12.0 \n0.0 \n0.0 \n-17.7 \n8.7 \n18.4 \n118.1 \n96.9 \nApr \n57.4 \n40.3 \n0.0 \n97.7 \n12.2 \n0.0 \n0.0 \n-19.8 \n8.5 \n42.4 \n140.9 \n97.7 \nMay \n42.8 \n34.6 \n0.0 \n77.4 \n0.0 \n0.0 \n0.0 \n4.7 \n0.1 \n32.5 \n114.6 \n77.4 \nJun \n42.8 \n33.2 \n0.0 \n76.0 \n0.0 \n0.0 \n0.0 \n2.3 \n0.1 \n33.7 \n112.3 \n76.0 \nJul \n42.6 \n33.8 \n0.0 \n76.3 \n0.0 \n0.0 \n0.0 \n-8.7 \n0.1 \n41.8 \n109.6 \n76.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n30 \nTABLE 9.1 : BUILDING SOCIETIES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \nNotes \nBalances \nTrade \nTreasury \nTotal \nMortgage \nOther \nOther \nNon Finan-\ncial \nTotal \nEnd of \n& \nwith Other \nBills \nBills \nLiquid \nAdvances \nAdvances \nAssets \nAssets \n Assets \n \nCoin \nBanks \n \n \n Assets \n \n \n \n \n \n \nat Banks \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \nJan \n20.4 \n125.5 \n0.2 \n0.0 \n146.1 \n283.2 \n118.5 \n36.1 \n121.4 \n705.3 \nFeb \n20.2 \n164.3 \n0.0 \n0.0 \n84.5 \n291.8 \n117.9 \n35.3 \n121.4 \n734.2 \nMar \n18.8 \n129.1 \n0.2 \n20.0 \n168.1 \n291.4 \n116.9 \n39.5 \n121.4 \n737.3 \nApr \n16.9 \n159.8 \n0.2 \n20.2 \n197.2 \n294.8 \n115.5 \n39.5 \n122.1 \n769.1 \nMay \n30.2 \n179.6 \n0.2 \n20.3 \n230.0 \n307.3 \n120.3 \n40.4 \n121.9 \n820.0 \nJun \n28.6 \n178.8 \n0.0 \n20.0 \n227.3 \n314.2 \n122.4 \n44.6 \n121.8 \n830.3 \nJul \n26.1 \n207.4 \n0.0 \n20.0 \n253.5 \n312.4 \n123.1 \n48.6 \n121.6 \n859.2 \nAug \n34.7 \n204.1 \n0.0 \n20.0 \n258.8 \n320.6 \n123.0 \n46.4 \n124.1 \n872.9 \nSep \n36.4 \n204.9 \n0.0 \n20.0 \n261.3 \n353.4 \n122.7 \n52.2 \n124.6 \n914.2 \nOct \n39.3 \n186.8 \n0.0 \n20.0 \n246.1 \n358.4 \n128.2 \n51.8 \n122.4 \n906.9 \nNov \n39.7 \n163.1 \n0.0 \n40.0 \n242.8 \n361.6 \n135.8 \n43.6 \n122.9 \n906.7 \nDec \n34.8 \n158.8 \n0.0 \n40.0 \n233.6 \n381.5 \n127.7 \n55.2 \n123.0 \n920.9 \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \nJan \n30.9 \n147.5 \n0.2 \n40.0 \n218.6 \n384.5 \n136.4 \n64.4 \n125.3 \n929.1 \nFeb \n30.2 \n165.0 \n0.2 \n40.0 \n235.3 \n385.8 \n132.0 \n65.4 \n125.4 \n943.9 \nMar \n47.5 \n166.2 \n0.2 \n40.0 \n253.8 \n390.4 \n132.1 \n68.8 \n125.0 \n970.1 \nApr \n45.2 \n161.0 \n0.2 \n40.0 \n246.5 \n401.8 \n132.4 \n76.6 \n124.7 \n981.9 \nMay \n47.7 \n190.7 \n0.2 \n40.0 \n278.6 \n394.0 \n147.0 \n82.7 \n124.3 \n1,026.7 \nJun \n39.5 \n187.9 \n0.0 \n40.0 \n267.4 \n400.0 \n150.4 \n84.0 \n124.4 \n1,026.1 \nJul \n40.6 \n180.9 \n0.0 \n40.0 \n261.5 \n431.8 \n159.4 \n84.1 \n124.4 \n1,061.2 \n \n \n \n \n \n \n \n \n \n \n \n31 \nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \nDeposits \nCapital \nOther \nTotal \nLiabilities to the \n \n \n \n \nand \nLiabilities \n Liabilities \nPublic \nEnd of \nSavings and \nShort-term \nLong-term \nTotal \nReserves \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n Jan \n201.3 \n94.2 \n295.5 \n127.3 \n95.7 \n518.5 \n295.5 \n Feb \n209.9 \n115.3 \n325.2 \n129.9 \n96.7 \n551.8 \n325.2 \n Mar \n182.1 \n152.2 \n334.3 \n129.6 \n76.7 \n540.7 \n334.3 \n Apr \n205.3 \n126.2 \n331.5 \n131.9 \n90.5 \n554.0 \n331.5 \n May \n242.1 \n93.4 \n335.5 \n136.3 \n70.4 \n564.0 \n335.5 \n Jun \n260.1 \n109.7 \n369.7 \n141.8 \n82.7 \n594.3 \n369.7 \n Jul \n233.2 \n156.1 \n389.3 \n145.7 \n79.3 \n614.3 \n389.3 \n Aug \n231.0 \n170.1 \n401.2 \n150.0 \n79..8 \n630.9 \n401.2 \n Sep \n247.3 \n172.8 \n420.0 \n153.1 \n80.0 \n653.0 \n420.0 \n Oct \n263.2 \n165.4 \n428.6 \n159.8 \n27.5 \n675.1 \n428.6 \n Nov \n246.8 \n179.5 \n426.3 \n165.5 \n28.2 \n694.3 \n426.3 \n Dec \n255.8 \n184.6 \n440.3 \n177.8 \n28.1 \n716.9 \n440.3 \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n Jan \n230.0 \n192.8 \n422.8 \n180.3 \n102.3 \n705.3 \n422.8 \n Feb \n255.7 \n194.2 \n449.9 \n183.7 \n100.6 \n734.2 \n449.9 \n Mar \n250.6 \n203.9 \n454.5 \n187.2 \n95.7 \n737.3 \n454.5 \n Apr \n252.9 \n226.6 \n479.5 \n190.6 \n22.3 \n769.3 \n479.5 \n May \n315.3 \n212.0 \n527.4 \n193.3 \n23.4 \n820.0 \n527.4 \n Jun \n309.0 \n222.6 \n531.6 \n198.3 \n100.4 \n830.3 \n531.6 \n Jul \n339.1 \n222.8 \n561.9 \n202.0 \n95.3 \n859.2 \n561.9 \n Aug \n298.4 \n270.1 \n568.4 \n206.3 \n98.2 \n872.9 \n568.4 \n Sep \n336.1 \n246.9 \n583.0 \n209.2 \n122.0 \n914.2 \n583.0 \n Oct \n310.9 \n264.9 \n575.8 \n212.0 \n119.4 \n907.2 \n575.8 \n Nov \n328.9 \n244.3 \n573.1 \n214.8 \n118.8 \n906.7 \n573.1 \n Dec \n370.3 \n197.3 \n567.6 \n219.6 \n133.9 \n921.0 \n567.6 \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \nJan \n313.9 \n253.1 \n567.0 \n225.9 \n136.2 \n929.1 \n567.0 \nFeb \n318.7 \n264.4 \n583.1 \n228.6 \n132.2 \n943.9 \n583.1 \nMar \n374.6 \n234.6 \n609.2 \n231.4 \n129.5 \n970.1 \n609.2 \nApr \n358.4 \n262.7 \n621.1 \n234.0 \n126.8 \n981.9 \n621.1 \nMay \n436.2 \n233.2 \n669.4 \n238.0 \n119.1 \n1,026.7 \n669.4 \nJun \n440.1 \n212.2 \n652.3 \n243.1 \n130.9 \n1,026.3 \n652.3 \nJuly \n362.4 \n302.9 \n665.3 \n244.2 \n151.9 \n1,061.3 \n665.3 \n \n \n \n \n \n \n \n \n32 \nTable 10: ZIMBABWE STOCK MARKET STATISTICS \n \n \n \n \n \nIndices \nUS$ Millions \n \nIndustrial \nMining \nMarket Capitalisation \n \n \n \n \n2012 \n \n \n \n \n \n \n \nOct \n154.47 \n93.66 \n4,033,76 \nNov \n150.16 \n68.74 \n3,890.9 \nDec \n152.40 \n65.12 \n3,963.50 \n \n \n \n \n2013 \n \n \n \n \n \n \n \nJan \n179.34 \n84.07 \n4,700.33 \nFeb \n182.3 \n72.01 \n4,748.24 \nMar \n183.88 \n66.21 \n4,726.34 \nApr \n189.66 \n71.98 \n4,894.68 \nMay \n212.72 \n73.99 \n5,471.22 \nJun \n211.19 \n73.29 \n5,436.57 \nJul \n232.87 \n66.77 \n5,9136.78 \nAug \n181.67 \n48.73 \n4,682.27 \nSep \n200.05 \n49.90 \n5,157.20 \nOct \n209.74 \n52.68 \n5,407.42 \nNov \n213.04 \n47.02 \n5,482.03 \nDec \n202.12 \n45.79 \n5,203.13 \n \n \n \n \n2014 \n \n \n \n \n \n \n \nJan \n189.25 \n35.40 \n4,882.11 \nFeb \n189.45 \n39.24 \n4,906.94 \nMar \n176.32 \n29.51 \n4,560.29 \nApr \n172.91 \n29.64 \n4,473.51 \nMay \n174.89 \n35.45 \n4,485.11 \nJun \n186.57 \n61.32 \n4,873.40 \nJuly \n188.07 \n95.00 \n4,959.21 \n \n \n \n \n \n \n \n \nSource: Zimbabwe Stock Exchange (ZSE) \n \n33 \nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial \nMerchant \n \nBuilding \n \nEnd of \nBanks \nBanks \nOther/2 \nSocieties \nTOTAL \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,418.5 \n113.0 \n64.3 \n422.8 \n2,018.6 \nFebruary \n1,424.8 \n121.7 \n64.7 \n449.9 \n2,061.1 \nMarch \n1,427.3 \n115.2 \n66.7 \n454.5 \n2,063.6 \nApril \n1,425.8 \n121.0 \n63.9 \n479.5 \n2,090.1 \nMay \n1,393.0 \n121.5 \n66.2 \n527.4 \n2,108.0 \nJune \n1,218.4 \n108.6 \n70.6 \n531.6 \n1,929.2 \nJuly \n1,162.1 \n109.7 \n70.8 \n561.9 \n1,904.5 \nAugust \n1,132.7 \n105.8 \n70.4 \n568.4 \n1,877.2 \nSeptember \n1,193.8 \n101.6 \n69.8 \n583.0 \n1,948.2 \nOctober \n1,229.3 \n95.2 \n69.3 \n575.8 \n1,969.7 \nNovember \n1,232.8 \n79.7 \n73.4 \n573.1 \n1,959.0 \nDecember \n1,330.7 \n63.3 \n72.7 \n567.6 \n2,034.3 \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,206.2 \n63.3 \n70.1 \n567.0 \n1,906.7 \nFebruary \n1,373.4 \n48.3 \n71.5 \n583.1 \n2,076.3 \nMarch \n1,373.8 \n55.8 \n75.1 \n609.2 \n2,113.9 \nApril \n1,394.0 \n40.3 \n81.0 \n621.1 \n2,136.4 \nMay \n1,427.5 \n34.6 \n77.5 \n669.4 \n2,209.0 \nJune \n1,495.8 \n33.2 \n81.3 \n652.3 \n2,262.6 \nJuly \n1,499.5 \n33.8 \n84.2 \n665.3 \n2,282.80 \n \n \n \n \n \n \n \n \n \n \n \n \n1/ Comprises all deposits other than demand deposits. \n2/ Includes People’s Own Savings Bank (POSB). \n \n \n34 \nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial Banks \nAccepting Houses \n \n \n \n \n \n \n \n \nLiquid \nPrescribed \nExcess \nLiquid \nPrescribed \nExcess \n \nassets \nliquid \nliquid \nassets \nliquid \nLiquid \nEnd of \nheld \nassets/1 \nassets \nheld \nassets/1 \nassets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,235.5 \n1,035.2 \n200.3 \n36.2 \n66.0 \n-29.8 \nFebruary \n1,244.9 \n1,025.4 \n219.5 \n26.9 \n67.3 \n-40.4 \nMarch \n1,277.6 \n1,016.2 \n261.4 \n8.9 \n65.8 \n-57.0 \nApril \n1,491.7 \n1,050.1 \n441.6 \n23.4 \n68.5 \n-45.1 \nMay \n1,480.8 \n1,037.7 \n443.1 \n27.3 \n70.1 \n-42.8 \nJune \n1,425.8 \n969.7 \n456.0 \n24.1 \n66.9 \n-42.8 \nJuly \n1,429.9 \n964.9 \n465.1 \n11.6 \n66.3 \n-54.7 \nAugust \n1,285.0 \n945.0 \n340.0 \n7.4 \n64.6 \n-57.2 \nSeptember \n1,519.7 \n982.7 \n536.9 \n5.7 \n63.8 \n-58.1 \nOctober \n1,489.0 \n1,006.6 \n482.5 \n4.8 \n62.3 \n-57.5 \nNovember \n1,379.5 \n955.9 \n423.7 \n3.9 \n60.7 \n-56.8 \nDecember \n1,469.9 \n993.3 \n476.6 \n4.6 \n59.3 \n-54.7 \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,417.0 \n1,007.9 \n409.0 \n2.6 \n30.0 \n-27.4 \nFebruary \n1,466.6 \n1,045.6 \n421.0 \n2.5 \n28.7 \n-26.2 \nMarch \n1,512.9 \n1,059.2 \n453.7 \n2.0 \n29.1 \n-27.1 \nApril \n1,608.4 \n1,098.5 \n509.9 \n2.6 \n29.3 \n-26.7 \nMay \n1,700.6 \n1,116.7 \n583.9 \n0.9 \n23.2 \n-22.3 \nJune \n1,716.1 \n1,123.4 \n592.7 \n1.2 \n22.8 \n-21.6 \nJuly \n1,553.7 \n1,089.0 \n464.7 \n0.9 \n22.9 \n-22.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n1/ With effect from May 2012, the prescribed liquid asset ratio was reviewed to 30% of liabilities to the public. \n35 \nTABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY \nValues of Transactions (US$ in millions) \nMONTH \nZETSS \nCHEQUE \nPOS \nATM \nMOBILE \n INTERNET \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \nJan \n3,563.84 \n5.24 \n80.72 \n173.71 \n115.53 \n89.67 \nFeb \n2,968.02 \n5.52 \n103.88 \n156.66 \n118.70 \n80.56 \nMar \n3,339.98 \n15.21 \n134.33 \n178.08 \n118.47 \n102.05 \nApr \n3,535.58 \n16.58 \n140.28 \n187.85 \n160.61 \n123.03 \nMay \n3,915.31 \n15.42 \n129.20 \n203.37 \n211.75 \n152.24 \nJun \n3,544.35 \n13.65 \n117.11 \n181.35 \n146.64 \n121.98 \nJul \n3,955.45 \n12.31 \n132.61 \n205.37 \n164.08 \n139.13 \nAug \n3,351.13 \n10.45 \n138.05 \n203.41 \n189.48 \n128.68 \nSep \n3,409.17 \n13.34 \n120.41 \n190.44 \n173.13 \n142.32 \nOct \n3,641.98 \n13.75 \n121.55 \n206.51 \n201.51 \n156.26 \nNov \n3,134.35 \n11.40 \n102.19 \n229.52 \n222.18 \n57.34 \nDec \n3,438.08 \n4.04 \n130.15 \n265.80 \n268.94 \n68.58 \n \n \n \n \n \n \n \nAnnual Total \n41,797.24 \n136.91 \n1,450.48 \n2,382.07 \n2,091.02 \n1,361.84 \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \nJan \n3,093.01 \n5.24 \n102.26 \n233.10 \n228.25 \n68.31 \nFeb \n2,954.93 \n10.73 \n96.27 \n193.90 \n217.14 \n64.42 \nMar \n3,332.79 \n10.40 \n103.58 \n232.94 \n255.32 \n87.94 \nApr \n3,439.33 \n9.66 \n126.26 \n253.16 \n264.38 \n96.29 \nMay \n3,915.31 \n13.65 \n117.11 \n181.35 \n146.64 \n121.98 \nJune \n3,657.44 \n12.42 \n110.38 \n250.87 \n284.18 \n104.28 \nJuly \n3,955.45 \n11.72 \n125.81 \n267.00 \n312.35 \n101.75 \n \n \n \n \n \n \n \n36 \nTABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY \nVolumes of Transactions (in thousands) \nMONTH \nZETSS \nCHEQUE \nPOS \nATM \nMOBILE \n INTERNET \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \nJan \n181.68 \n21.18 \n761.09 \n691.18 \n6,950.84 \n47.53 \nFeb \n172.41 \n21.95 \n811.83 \n620.06 \n6,835.89 \n30.75 \nMar \n179.44 \n37.01 \n1,377.65 \n743.82 \n7,042.27 \n33.69 \nApr \n182.87 \n37.31 \n954.80 \n760.46 \n9,908.41 \n34.73 \nMay \n215.20 \n37.09 \n954.18 \n793.43 \n12,146.90 \n38.68 \nJun \n185.80 \n34.36 \n968.54 \n731.17 \n9,110.97 \n36.87 \nJul \n205.85 \n35.41 \n1,052.26 \n822.57 \n10,099.72 \n42.74 \nAug \n187.25 \n30.29 \n1,114.86 \n825.75 \n11,551.94 \n41.78 \nSep \n201.22 \n33.17 \n1,003.98 \n799.62 \n8,701.56 \n44.48 \nOct \n212.66 \n35.69 \n1,073.88 \n873.19 \n9,769.81 \n48.59 \nNov \n186.64 \n31.74 \n904.27 \n927.93 \n14,753.35 \n24.04 \nDec \n180.80 \n11.82 \n1,033.73 \n1,042.32 \n12,273.02 \n23.56 \n \n \n \n \n \n \n \nAnnual Total \n2,291.82 \n367.02 \n12,011.07 \n9,631.50 \n119,144.68 \n447.44 \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \nJan \n182.48 \n29.41 \n973.79 \n815.89 \n11,141.19 \n24.19 \nFeb \n175.09 \n32.95 \n991.91 \n799.12 \n10,631.60 \n25.10 \nMar \n192.02 \n32.35 \n1,163.76 \n947.64 \n12,859.50 \n30.82 \nApr \n183.63 \n28.12 \n1,184.85 \n974.37 \n13,298.04 \n29.23 \nMay \n215.20 \n37.09 \n954.18 \n793.43 \n12,146.90 \n38.68 \nJun \n193.58 \n32.98 \n1,164.73 \n966.45 \n14,163.56 \n34.25 \nJuly \n199.59 \n34.34 \n1,272.91 \n1038.44 \n15,370.63 \n37.68", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/July2014.pdf"}

dedup/cb_requests/0dce03dee7a9d47d6752e499afe716d9.json

@@ -0,0 +1 @@
+{"doc_id": "0dce03dee7a9d47d6752e499afe716d9", "text": "MPC Statement November 22nd, 2018 \nPage 1 \n \n \nSouth African Reserve Bank \n \nPRESS STATEMENT \nEMBARGO DELIVERY \n22 November 2018 \n \n \nSTATEMENT OF THE MONETARY POLICY COMMITTEE \n \nIssued by Lesetja Kganyago, Governor of the South African Reserve Bank \nSince the previous meeting of the Monetary Policy Committee (MPC), the near-term \ninflation outlook has improved, however, the longer term risks to the inflation outlook \nremain elevated. The weaker exchange rate and the impact of higher oil prices have \ncontributed to increasing inflation since March 2018. At the same time, domestic \ngrowth remains weak. \nThe year-on-year inflation rate as measured by the consumer price index (CPI) for all \nurban areas was 5.1% in October (up from 4.9% in September). Goods price inflation \nwas 5.1% (up from 4.8% in September), while services price inflation decreased \nslightly from 5.2% in September to 5.1% in October. The Bank’s measure of core \ninflation, which excludes food, fuel and electricity was 4.2% in October. Producer price \ninflation for final manufactured goods slowed to 6.2% in September from 6.3% in \nAugust. \nMPC Statement November 22nd, 2018 \nPage 2 \n \nThe inflation forecast has improved marginally since the previous MPC. While \nremaining within the inflation target range throughout the forecast period, the SARB’s \nmodel projects an increase in headline inflation, albeit slightly lower than the \nSeptember projection. Headline inflation is now expected to average 4.7% in 2018 \n(down from 4.8%), before increasing to 5.5% in 2019 (down from 5.7%) and \nmoderating to an unchanged 5.4% in 2020. Headline CPI inflation is now expected to \npeak at around 5.6%, in the third quarter of 2019. The forecast for core inflation is \n4.3% in 2018 (down from 4.4%), 5.3% in 2019 (down from 5.6%) and 5.5% in 2020. \nThese inflation projections are based on an interest rate path generated by the SARB’s \nQuarterly Projection Model (QPM). \nFollowing persistent increases in oil prices since February, the assumptions for Brent \ncrude oil in the QPM were revised upwards by US$3 per barrel to US$73 for 2019 and \n2020. Administered prices, including fuel, electricity and water tariffs, are expected to \nincrease at rates above the upper end of the inflation target range. \nThe inflation expectations of market analysts in the November Reuters Econometer \nsurvey are lower at 4.7% in 2018 (down from 4.8%), rising to 5.5% in 2019 (up from \n5.3%) and remaining unchanged at 5.3% in 2020. Expectations implicit in the break-\neven inflation rates (i.e. the yield differential between conventional and inflation-linked \ngovernment bonds) remain sensitive to exchange rate movements. While five-year \nbreak-even rates remains within the inflation target range, the longer-term break-even \nrates remain above 6%. \nThe global economic outlook is expected to remain broadly favourable over the short \nterm. However, medium term risks are tilted to the downside due to less synchronised \nglobal growth. This is amplified by elevated policy uncertainty emanating from \nMPC Statement November 22nd, 2018 \nPage 3 \n \nescalating trade tensions, tightening global financial conditions and rising geo-political \nrisks. The global inflation trajectory remains on a moderate upward path as key \nadvanced economies continue to grow above their potential. \nSince the September MPC, the rand has appreciated by 3.8% against the US dollar, \nby 6.6% against the euro, and by 5.2% on a trade-weighted basis. The implied starting \npoint for the rand is R14.50 against the US dollar, compared with R14.20 at the time \nof the previous meeting. At these levels, the QPM assesses the rand to still be \nundervalued. \nTighter global financial conditions, financial market volatility and the change in investor \nsentiment towards emerging markets remain key external risks to the rand. Over the \nmedium term, it is likely that the rand, along with other emerging market currencies, \nwill remain volatile. However, the pace of monetary policy normalisation in the \nadvanced economies continues to be gradual. Policy tightening by the US Fed is \nexpected to follow a measured path in the absence of significant inflation or growth \nsurprises, while the European Central Bank (ECB) is expected to start a rate hiking \ncycle in late-2019. This means that monetary policies in some advanced economies \nwill likely be tightening throughout the forecast period. \nThe domestic growth outlook remains challenging. Recent monthly data on economic \nperformance in key sectors suggests a more moderate recovery in growth in the third \nquarter than expected in September. The SARB now forecasts growth in 2018 to \naverage 0.6% (down from 0.7% in September). The forecast for 2019 and 2020 is \nunchanged at 1.9% and 2.0% respectively. At these growth rates, the negative output \ngap is wider than at the time of the previous MPC meeting. The output gap will narrow \nbut will not close by the end of 2020, as previously expected. \nMPC Statement November 22nd, 2018 \nPage 4 \n \nThe SARB’s composite leading business cycle indicator has been trending lower since \nFebruary, reflecting the extent of weakness in the economy. The year-on-year \ndecrease in September was the largest since July 2016 and mainly reflected a \nsignificant decline in the number of building plans approved and a reduction in job \nadvertisement space. The RMB/BER Business Confidence Index remains significantly \nbelow the neutral level of 50 index points, broadly aligned with weakness in gross fixed \ncapital formation. Efforts by the government to encourage private sector investment \ncould support longer term growth. \nWhile the FNB/BER Consumer Confidence Index remains high, household \nconsumption expenditure has been constrained by recent tax changes, weak \nemployment growth as well as low growth in credit extension to households. Over the \nforecast period, consumption expenditure growth is expected to remain below 2% in \n2018 and 2019, and to reach 2.3% in 2020, on the back of increases in real wages \nand household disposable income. \nThe MPC assesses the risks to the growth forecast to be moderately on the downside. \nAs previously highlighted the Committee remains of the view that current challenges \nfacing the economy are primarily structural in nature and cannot be solved by \nmonetary policy alone. Prudent macroeconomic policies are essential to ensuring that \ngrowth is sustainable and that the economy is more resilient to shocks. These should \nbe complemented by implementation of credible structural policy initiatives that make \na marked impact on the cost structure of the economy, potential output and \nemployment. \nThe MPC noted the rising inflation trajectory which, while remaining within the target \nrange, continues to deviate from the mid-point of the target range. \nMPC Statement November 22nd, 2018 \nPage 5 \n \nThe MPC continues to assess the risks to the longer-term inflation outlook to be on \nthe upside. These risks include tighter global financial conditions, a weaker exchange \nrate, higher wage growth, international oil prices and rising electricity and water tariffs. \nHowever, demand pressures are still not assessed to pose a significant risk to the \ninflation outlook. \nThe approach of the MPC is to look through the first-round effects and focus on the \npossible second-round effects of supply side shocks. However, shocks of a persistent \nnature such as extended periods of currency depreciation, elevated oil prices and \nmulti-year electricity price increases make it difficult to disentangle these first and \nsecond round effects. \nThe MPC had to decide whether to act now or later. Given the relative stability in the \nunderlying core inflation measure, delaying the adjustment could give the MPC room \nto re-assess these unfolding developments in subsequent meetings. However, \ndelaying the adjustment could cause inflation expectations to become entrenched at \nhigher levels and thus contribute to second round effects, which would require an even \nstronger monetary policy response in the future. \nAgainst this backdrop, the MPC has decided to increase the repurchase rate by \n25 basis points to 6,75% per year, effective from 23 November 2018. Three members \npreferred an increase and three members preferred an unchanged stance. \nThe Committee continues to assess the stance of monetary policy to be \naccommodative. Monetary policy actions will continue to focus on anchoring inflation \nexpectations near the mid-point of the inflation target range in the interest of balanced \nand sustainable growth. As previously indicated, any future policy adjustments will be \ndata dependent. \nMPC Statement November 22nd, 2018 \nPage 6 \n \nThe implied path of policy rates generated by the Quarterly Projection Model is for four \nrate hikes of 25 basis points, reaching 7.5% by the end of 2020. The forecasted \nendogenous interest rate path is built into our growth and inflation outlook. As \nemphasised previously, the implied path remains a broad policy guide which can and \ndoes change in either direction between meetings in response to new developments \nand changing risks. \nLesetja Kganyago \nGOVERNOR \nThe next statement of the Monetary Policy Committee will be released on 17 January \n2019. \n \nContact person: \nZamaNdlovu Ndlovu \n012 399 7118 \nmedia@resbank.co.za", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/MPC-Statement_22-November-2018-Final.pdf"}

dedup/cb_requests/0e4f1c305a656b516d64bc64975e84c0.json

@@ -0,0 +1 @@
+{"doc_id": "0e4f1c305a656b516d64bc64975e84c0", "text": "MPC Statement 26 January 2023 \nPage 1 \n \n \nPRESS STATEMENT \n26 January 2023 \n \n \nSTATEMENT OF THE MONETARY POLICY COMMITTEE \n \nIssued by Lesetja Kganyago, Governor of the South African Reserve Bank \nAs this year commences, high inflation and weak economic growth continue to shape \nglobal conditions. Russia’s war in the Ukraine drags on and recession risks remain \nelevated in the Euro Area, even though energy constraints have eased. Growth \nprospects for the United States this year are lower. The growth outlook for China has \nimproved but is likely to remain modest by historical standards. In the developing \nworld, a number of economies face debt distress, exacerbated by tighter global \nfinancial conditions.1 \nLast year, higher than expected headline inflation and rising core inflation led major \ncentral banks to accelerate the normalisation of policy rates. With advanced economy \ninterest rates likely to increase in the near term, we expect financial asset prices \nglobally to remain volatile. \n \n1 According to the IMF’s October 2022 Global Financial Stability Report, eight low-income countries are in debt \ndistress and 30 are at high risk of distress (out of 69 countries considered low-income countries—among \nwhich, there are some frontier markets). \n \nMPC Statement 26 January 2023 \nPage 2 \n \nTaking these and other factors into account, the SARB’s forecast for global growth in \n2023 is revised slightly lower to 1.6% (from 1.9%).2 We expect better growth in 2024 \nat 2.6% (from 2.4%). The International Monetary Fund’s (IMF) global growth forecast \nwill be updated later this month. \nWhile the South African economy grew by a relatively strong 1.6% in the third quarter \nof 2022, the expansion was not broad-based. We forecast no growth in the fourth \nquarter. For the whole of last year, GDP growth of 2.5% is expected (up from 1.8%). \nFor 2023, and as a result of extensive load-shedding and other logistical constraints, \nthe Bank now forecasts GDP growth of only 0.3%. Given the scale of load-shedding, \nthe Bank estimates that it deducts as much as 2 percentage points from growth in \n2023, compared to the previous estimate of 0.6 percentage points. \nOver the medium term, the forecast takes into account ongoing high levels of load-\nshedding, and more modest household spending and investment growth than \npreviously. Investment is still positive, but is revised down due to weaker confidence \nand lower expected growth. With declining commodity prices, exports are also forecast \nto be less robust. The forecast incorporates an assumption of increased load-shedding \nin each year compared to what was pencilled-in at the time of the November meeting.3 \n \n2 Global growth in the QPM model is a trade-weighted average of South Africa’s trading partners. Global \ngrowth in 2024 is forecast higher at 2.6% (from 2.4%), before rising to 3.1% in 2025, unchanged from the \nNovember meeting. \n3 The number of days of expected load-shedding in 2023 has been increased to 250 days from 100 daysIn 2024 \nthe number of days was revised up to 150 days from 40 days. Load-shedding of 100 days has been assumed \nfor 2025. Estimates of the average stages of load-shedding is multiplied by the number of days and then \nmultiplied by the cost to GDP per stage-day. The cost per stage has been revised lower for stages 1 and 2. In \nnominal terms, these costs vary between R0-R1.2 million for stages 1 and 2 and up to R204-R899 million for \nstages 3 to 6, when continued on a 24 hour basis on weekdays. \n \nMPC Statement 26 January 2023 \nPage 3 \n \nAs a result of these factors, the economy is forecast to expand by 0.7% in 2024 ( down \nfrom 1.4%) and by 1.0% in 2025 (down from 1.5%).4 \nWhile economic growth has been volatile for some time, prospects for growth appear \neven more uncertain than normal. A material reduction in load-shedding would \nsignificantly raise growth. There could also be higher investment in alternative energy \nsources as firms and households offset the impact of load-shedding. Upside risks to \nglobal growth could also arise from reduced geo-political tensions, a stronger recovery \nin China, and consequential increases in commodity export prices. \nWith a lower rate of potential, our current reduced growth forecast leaves the output \ngap around zero, implying little positive or negative impact on inflation from expected \ngrowth.5 \nAfter the downward revisions to the GDP forecast, the risks to the medium-term \ndomestic growth outlook are assessed to be balanced. \nAs expected for some time, commodity export prices continue to trend gradually lower. \nWhile oil prices increased somewhat at the end of last year, compared to November, \nour oil price forecast is slightly lower, averaging US$89 per barrel in 2023.6 South \nAfrica’s export commodity price basket is expected to continue to decrease, by about \n18% this year, and stabilise in 2025.7 \n \n4 The growth forecast includes expected changes in the policy rate as given by the QPM. \n5 Potential growth for 2022 was revised higher to 0.7%, and lowered in 2023 to 0.0%. It is also revised lower to \n0.6% for 2024 (from 1.1%) and to 1.1% for 2025 (down from 1.6%). \n6 The Brent crude oil assumptions are US$85 for 2024 and US$80 for 2025 (unchanged). \n7 Commodity export prices rose by 1.4% in 2022. \n \nMPC Statement 26 January 2023 \nPage 4 \n \nAs a result of weaker export outcomes and prospects, the current account balance is \nestimated to have been -0.7% of GDP in 2022, and forecast to deteriorate to about -\n1.8% for the next three years.8 \nAlthough fiscal risk eased over the past year, weaker commodity prices and rising \nstate-owned enterprise financing needs could reverse that positive outcome. \nFinancing conditions for rand-denominated bonds remain tight. Ten-year bond yields \ncurrently trade at about 10.3%, despite the expected moderation of inflation over the \nforecast period. \nPolicy normalisation in major economies and slower global growth last year \ncontributed to depreciation of many emerging market currencies, including the rand. \nIn recent months, while better global growth prospects have increased appetite for \nriskier assets, the rand has been less buoyant than other currencies. The implied \nstarting point for the rand forecast is R16.92 (23q1) to the US dollar, compared with \nR17.68 at the time of the previous meeting. \nGlobally, economic growth has slowed and prices decreased for some goods and \ntransport services. While headline inflation eased in major economies in December, \nprice pressures continue to spread from goods to services and wages.9 Our estimate \nfor inflation in the G3 is unchanged at 7.3% in 2022 and slightly lower to 4.0% in 2023 \n(from 4.1%). The forecast for 2024 is lower at 1.8% (from 2.1%).10 \n \n8 In November, a current account balance of -0.2% of GDP was expected for 2022, -1.5% in 2023 and -1.9% in \n2024. \n9 Inflation in agricultural commodities decelerated to 0.1% in 2022Q4 (from 8.7% in 2022Q3) due to vegetable \noils and cereals components. This year global food inflation is expected to be in deflation (after registering \n14.3% in 2022) due to base effects and improving supply constraints. \n10 The G3 comprises the United States, the Eurozone, and Japan. The latest CPI inflation in the respective \ncomponents sits at 6.5%, 9.2% and 4%. We expect G3 inflation of 1.9% in 2025. \n \nMPC Statement 26 January 2023 \nPage 5 \n \nAlthough South Africa’s fuel price inflation for last year averaged 34.5%, it is expected \nto be -2.7% in 2023 (down from 0.7%). Local electricity price inflation has been revised \nhigher at 12.9% in 2023, 14.5% in 2024, and 10.9% in 2025. \nWhile global food price inflation continues to ease, local food price inflation is revised \nup again in part due to the lagged impact of the weaker exchange rate. Food price \ninflation reached 9.2% in 2022 and is now expected to be 7.3% in 2023 (up from 6.2%) \nand 4.4% in 2024 (up from 4.2%). \nHeadline inflation in 2022 came out at 6.9%. The Bank’s forecast of headline inflation \nfor 2023 is unchanged at 5.4% and is slightly higher at 4.8% for 2024. In 2025 we still \nexpect headline inflation of 4.5%. \nOur forecast for core inflation is somewhat lower at 5.2% in 2023 (down from 5.5%) \nand 4.7% in 2024 (down from 4.8%). Services price inflation in 2023 is forecast to be \n5.1%, lower than the 5.5% previously expected, on the back of lower public transport \nservices, housing rental price inflation and owners equivalent rent. Core goods \ninflation is also forecast somewhat lower for this year at 5.5% (from 5.7%).11 The \nforecast for core inflation in 2024 and 2025 is largely unchanged at 4.7% and 4.5%, \nrespectively. \n \n \n11 Core goods refers to total CPI goods excluding food and NAB, fuel and electricity, whereas services include \nall surveyed services within the CPI basket. Core goods inflation was 5.0% in 2022 and is expected to be 4.8% \nin 2024 and 4.5% in 2025. \n \nMPC Statement 26 January 2023 \nPage 6 \n \nThe forecast for average salary growth is broadly unchanged.12 Despite a benign unit \nlabour cost outcome in 2022, lower productivity and higher inflation expectations raise \nthe forecast for this year and next.13 \nWhile core inflation in December came out significantly better than expected, \nincreases in electricity and food price inflation and higher headline inflation for 2022 \nas a whole keep the headline inflation forecast elevated in the near and medium-term. \nRisks to the inflation outlook are assessed to the upside. Despite some easing of \nglobal producer price and food inflation, global price levels remain elevated and \nRussia’s war in the Ukraine continues. The oil market is expected to remain tight, \nparticularly as China’s economy rebounds. Electricity price inflation has shifted \nsignificantly higher this year and next and other administered prices continue to \npresent clear medium-term risks. Domestic food price inflation continues to surprise \nhigher and may again. Load-shedding may have broader price effects on the cost of \ndoing business and the cost of living. Given sticky petrol and food price inflation, \nconsiderable risk still attaches to the forecast for average salaries and hence for the \ntrajectory of core inflation. \nG3 interest rate levels for the forecast period are similar to those projected in \nNovember, averaging 3.7% in 2023 (up from 3.6%), 3.3% in 2024, and 2.4% in 2025. \nTightened global financial conditions have raised the risk profiles of economies \nneeding foreign capital. While the rand appreciated in December alongside other \nemerging market currencies, it has depreciated by about 1.6% against the USD year \n \n12 Average salaries were expected to be 5.3%, 6.7%, and 5.4% for 2022, 2023 and 2024 at the time of the \nNovember meeting. For the January meeting, the respective figures are 5.2%, 6.9%, 5.5%, and 4.7% for 2025. \n13 Unit labour costs are forecast to have grown by 3.6% in 2022, below the forecast of 4.4%. They are expected \nto rise by 7.7%, 5.3% and 4.1%, respectively, in 2023, 2024, and 2025. Productivity per unit of labour is lower \ndue to reduced expected output. \n \nMPC Statement 26 January 2023 \nPage 7 \n \nto date. Given deteriorated growth prospects, the risk of currency weakness has \nincreased. \nInflation expectations increased strongly over the past year. Average expectations of \nfuture inflation surveyed in the fourth quarter of 2022 increased to 6.1% for 2023 and \n5.6% for 2024.14 Expectations for inflation in 2023 based on market surveys sit at \n5.5%.15 Long-term inflation expectations derived from the 5-year break-even rates in \nthe bond market have moderated to about 5.0%.16 \nIn the second quarter of 2022, headline inflation breached the upper end of the target \nrange, and is forecast to remain above it until the second quarter of this year. Headline \ninflation is only expected to sustainably revert to the mid-point of the target range by \nthe fourth quarter of 2024. The forecast takes into account the policy rate trajectory \nindicated by the Bank’s Quarterly Projection Model (QPM). As usual, the repo rate \nprojection from the QPM remains a broad policy guide, changing from meeting to \nmeeting in response to new data and risks. \nAgainst this backdrop, the MPC decided to increase the repurchase rate by 25 basis \npoints to 7.25% per year, with effect from the 27th of January 2023. Three members of \nthe Committee preferred the announced increase. Two members preferred a 50 basis \npoints increase. \n \n14 The BER Q4 survey of inflation expectations indicated inflation at 6.1% in 2023 (up from 5.9%) and 5.6% for \n2024 (up from 5.3%). \n15 At the median, market analysts (Reuters Econometer) in January expect inflation to be higher at 5.5% (from \n5.4% in November) in 2023, 4.7% in 2024 and 4.7% in 2025. \n16 Market-based rates are calculated from the break-even inflation rate, which is the yield differential between \nconventional and inflation-linked bonds. These now sit at about 4.95% for the 5-year and 5.91% on the 10-year \nbreakeven. 15-year break-even inflation sits at 6.41%. \n \nMPC Statement 26 January 2023 \nPage 8 \n \nThe revised repurchase rate remains supportive of credit demand in the near term, \nwhile raising rates to levels more consistent with the current view of inflation and risks \nto it. The aim of policy is to anchor inflation expectations more firmly around the mid-\npoint of the target band and to increase confidence of attaining the inflation target \nsustainably over time.17 \nGuiding inflation back towards the mid-point of the target band can reduce the \neconomic costs of high inflation and enable lower interest rates in the future. Achieving \na prudent public debt level, increasing the supply of energy, moderating administered \nprice inflation and keeping wage growth in line with productivity gains would enhance \nthe effectiveness of monetary policy and its transmission to the broader economy. \nEconomic and financial conditions are expected to remain more volatile for the \nforeseeable future. In this uncertain environment, monetary policy decisions will \ncontinue to be data dependent and sensitive to the balance of risks to the outlook. The \nMPC will seek to look through temporary price shocks and focus on potential second \nround effects and the risks of de-anchoring inflation expectations. The Bank will \ncontinue to closely monitor funding markets for stress. \nLesetja Kganyago \nGOVERNOR \nThe next statement of the Monetary Policy Committee will be released on 30 March \n2023. \n \n \n17 The forecasted trajectory for the repurchase rate implies a rise in the inflation-adjusted repo rate from -1.7% \nin 2021 to -1.9% in 2022, 2.0% for 2023, and 2.3% in 2024. The real repo level for 2025 is expected to be 2.4%. \nThe real repurchase rate calculation here is based on the 1-quarter ahead inflation forecast and are annual \naverage rates. \n \nMPC Statement 26 January 2023 \nPage 9 \n \nContact person: \nThoraya Pandy \n0824168416 \nmedia@resbank.co.za", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/Statement of the Monetary Policy Committee January 2023.pdf"}

dedup/cb_requests/0f09d9949e5bbb50cc25f9569e82d8bc.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/Monthly_Economic_Reviews/Monthly_Economic_Review_October_2023_2.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "Monthly_Economic_Review_October_2023_2.pdf", "subfolder": "SARB\\Monthly_Economic_Reviews", "token_count": 15186}

dedup/cb_requests/0f8c1ccc13dd78943706c3a0906df080.json

@@ -0,0 +1 @@
+{"doc_id": "0f8c1ccc13dd78943706c3a0906df080", "text": "MONTHLY ECONOMIC REVIEW \nFEBRUARY 2014 \nSelected Economic Indicators \n2 \nStock Market Developments \n3 \nInflation \n6 \nNational Payments System \n7 \nStatistical Tables \n9 \n \n \nMonetary Developments \n5 \nINSIDE THIS ISSUE \n \nPAGE \nSELECTED ECONOMIC INDICATORS \n2 \n \n2014 \nJanuary \n2014 \nFebruary \nZ.S.E. Mining Index1 \n35.40 \n39.24 \nZ.S.E. Industrial Index1 \n189.25 \n189.45 \nMoney Supply (Total Bank Deposits) (US$)2 \n3.89 billion \n4.02 billion \nMoney Supply (M3) Annual Growth2 \n2.11% \n5.46% \nYearly Inflation3 \n0.41% \n-0.49% \nSources: \n1 Zimbabwe Stock Exchange \n2 Reserve Bank of Zimbabwe \n3 ZIMSTAT \n \n \n \nMonth on \nMonth \nChange \n10.85% \n0.11% \n3.34% \n3.34% \n0.05% \n \nSTOCK MARKET DEVELOPMENTS \n \nGlobal risk appetite was on a rise in February \n2014 underpinned by better than expected \nearnings in most United States companies. \nThis was so despite weak economic data \nbeing recorded in the US economy. With the \nexception of the Nigerian Stock Market, \nwhich registered a decline largely due to \ndeclines in banking counters, most African \nstock markets, including the Zimbabwe \nStock Exchange (ZSE) registered positive \nperformance in the period under review. \n \nThe key industrial index broke its declining \ntrend and recovered by a marginal 0.11% \nbetween January and February 2014, ending \nFebruary at 189.45 points, compared to \n189.25 points in January. On a year to date \nbasis, however, the industrial index lost \n6.21%. \n \nThe mining index also recovered, to close \nthe month under review at 39.24 points, up \nfrom 35.40 points in January. This increase \nreflected a 10.85% month-on-month gain, \nagainst a year-to-date loss of 14.30%. \n \nThe volume of shares traded declined by \n16.29%, from 162.64 points in January 2014 \nto 136.16 points in February 2014. Total \nturnover also declined by 55.33%, due to the \nabsence of special bargain deals, to close the \nmonth under review at US$25.82 million. \n \nMarket capitalization rose by 0.51% to \nUS$4.91 billion, at the end of February \n \n2 3 \n0.00\n0.50\n1.00\n1.50\n2.00\n2.50\n3.00\n3.50\n4.00\n4.50\n0\n5\n10\n15\n20\n25\nValues Traded (US$ Millions)\nVolumes Traded (Millions)\nZSE: Daily Volumes and Values \nTraded\nVolume\nTurnover\n0\n20\n40\n60\n80\n100\n120\n140\n160\n180\n200\n220\n240\n260\n28-Mar-12\n28-Apr-12\n28-May-12\n28-Jun-12\n28-Jul-12\n28-Aug-12\n28-Sep-12\n28-Oct-12\n28-Nov-12\n28-Dec-12\n28-Jan-13\n28-Feb-13\n28-Mar-13\n28-Apr-13\n28-May-13\n28-Jun-13\n28-Jul-13\n28-Aug-13\n28-Sep-13\n28-Oct-13\n28-Nov-13\n28-Dec-13\n28-Jan-14\n28-Feb-14\nZSE Indices\nIndustrial\nMining\n \n2 4 \n2014, from US$4.89 billion at the close of \nJanuary 2014. \n \n \nMONETARY DEVELOPMENTS \n \nThe sluggish performance of the economy \ncontinued to hamper robust growths rates in \nthe broad money. The main sources of \nliquidity under the multicurrency system are \nexports, external lines of credit and Diaspora \nremittances, given that the Central Bank \ncannot inject liquidity into the economy. \nThese have not managed to generate enough \nliquidity to support economic activity and \nachieve desirable levels of money supply \ngrowth. \nConsequently, broad money registered a \nmodest 5.46% annual growth in February \n2014, compared to 12.91% over the same \nperiod last year. This reflected an increase \nof US$208.96 million in broad money, from \nUS$3 813.62 million in February 2013, to \nUS$4 021.78 million in February 2014. The \ngrowth in broad money was sustained by an \nexpansion in aggregate deposits during the \nperiod under review. \nSupported \nlargely \nby \ninflows \nfrom \nparastatals and partly reflecting limited \nalternative low risk investments, long term \ndeposits registered a 33.75% annual growth \nduring the period under review. Over the \nsame period, demand and savings deposits \n3.1 \n3.2 \n3.3 \n3.4 \n3.5 \n3.6 \n3.7 \n3.8 \n3.9 \n4.0 \n4.1 \n-2\n3\n8\n13\n18\n23\n28\n33\n38\nUS$ Billions\n%\nMoney Supply\nM3\nM3 Annual Growth\nUnder 30-\nday, 18.8\n%\nLongterm \n, 18.8%\nDemand, 5\n0.3%\nSavings, 1\n2.1%\nBanking Sector Deposits \nFebruary 2014\n \n3 5 \nrecorded annual growths of 2.21% and \n16.19%, respectively. Maturities in short \nterm deposits resulted in this class of \ndeposits declining by 11.07%, during the \nperiod of analysis. \n \nOn the sources side, annual broad money \ngrowth was mainly driven by bank credit to \nGovernment during the period under review. \nThis was largely due to the Government’s \naggressive issuance of Treasury Bills and \nbonds through private placements. \n \nThese instruments are of varied tenors, \nranging from 92 days to 1 461 days. \nUnanticipated \ndeclines \nin \nGovernment \ndeposits also worsened the net credit to \nGovernment position. On an annual basis, \nGovernment deposits declined by 89.35% in \nDecember 2013, 3.60% in January 2014 and \n0.89% in February 2014. Net credit to Gov-\nernment consequently rose from US$153.16 \nmillion in February 2013 to US$415.05 mil-\nlion by February 2014. \n \nGrowth in commercial banks’ credit to the \nprivate sector fell significantly, from an \nannual growth of 28.77% in February 2013 to \n1.50% in February 2014. Tighter credit \npolicies, as a result of rising nonperforming \nloans, as well as a slowdown in the growth of \nthe deposit base, resulted in a slump in private \nsector credit developments. \n \nClaims on the private sector were in the form \nof loans and advances, 78.22%; mortgages \nadvanced by building societies, 10.64%; bills \ndiscounted, 2.08%; bankers’ acceptances, \n1.54%; and other investments, 7.53%. \n \nThe outstanding loans and advances were \nmainly to households (19.40%); agriculture \n(19.26%); distribution (17.34%); and services \n(15.29%). \n \nCredit to the private sector was mainly util-\nized for asset purchases (42.88%) as well as \ninventory build-up (34.12%). Loans and ad-\nvances utilized for fixed investment activity \nhave remained low, with the procurement of \nplant and equipment accounting for 3.82% \nand pre and post shipment financing at 0.83%, \nof total loans and advances. \n \n \n \nLoans and \nAdvances\n78%\nBills \nDiscounte\nd\n2%\nBankers \nAcceptanc\nes\n2%\nMortgages\n11%\nOther \nInvestmen\nts\n7%\nCredit to Private Sector\nTotal credit to the private sector as at the end of \nFebruary 2014 was US$3 626.99 million.\n4 \n \n6 \nINFLATION DEVELOPMENTS \n \nAnnual Inflation \n \nThe annual headline inflation decelerated to \n-0.49% in February, from 0. 41% in January \n2014, marking the onset of a deflationary \neconomic environment. The decline was on \naccount of a slowdown in both food and \nnon-food inflation. \nAnnual food inflation slowed down to \n-3.26% in February, from -2.08% in January \n2014, while non-food inflation also receded \nto 0.93% from 1.67% during the same \nperiod. \nThe decrease in annual food inflation was \nlargely driven by sugar, jam, honey, \nchocolate and confectionery, vegetables, \nmeat, fruits and mineral waters, soft drinks \nand fruit juices, fish and sea food, milk, \ncheese and eggs; oils and fats, as well as \nbread and cereals sub-categories. \nAnnual non-food inflation was driven by \neducation; housing, water, electricity, gas \nand other fuels; hotels and restaurants; \ntransport; alcoholic beverages and tobacco; \nand health services. The decline in annual \nnon-food inflation can be attributed to the \ndecreases in communication, recreation and \nculture, \nand \nfurniture \nand \nequipment \ninflation. \n \nMonth-on-Month Inflation \nMonth-on-month inflation declined by 0.1 \npercentage points to 0.05%, from the January \n2014 rate of 0.14%, following decreases in \nthe prices of food and non-alcoholic \nbeverages. \nMonthly food inflation stood at 0.18% in \nFebruary, down from 0.44% in January 2014. \nDecreases were recorded for sugar, jam, \nhoney, chocolate and confectionery, oils and \nfats, and mineral waters, soft drinks and fruit \njuices items. \nMonthly non-food inflation was -0.01% in \nFebruary, up from -0.08% in January 2014. \n-4\n-3\n-2\n-1\n0\n1\n2\n3\n4\n5\n6\n7\nDec-11\nFeb-12\nApr-12\nJun-12\nAug-12\nOct-12\nDec-12\nFeb-13\nApr-13\nJun-13\nAug-13\nOct-13\nDec-13\nFeb-14\nAnnual Inflation \n(%)\nHeadline Inflation\nFood\nNon Food\n7 \nDeclines in the prices of water, electricity, \ngas and other fuels as well as furniture and \nequipment depressed non-food inflation in \nFebruary 2014. \n \nInflation Outlook \n \nThe rise in international oil prices from an \naverage of US$107.44 per barrel in January \nto about US$108.69 per barrel in February \n2014, if sustained, is expected to increase \ninflationary pressures in the economy. \nHowever, the expected bumper harvest \nfollowing a favorable agricultural season is \nexpected to exert downward pressure on food \nprices from May 2014, with the effect of \nfurther reducing inflation. \n \nNATIONAL \nPAYMENTS \nSYSTEM \nDEVELOPMENTS \n \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \n \nThe value of transactions processed through \nthe \nRTGS \nsystem \nin \nFebruary \n2014 \ndecreased by 4% to US$3 billion, from \nUS$3.1 billion in January 2014, while the \nvolume of transactions also registered a \ndecrease of 4% from 182 479 to 175 092 in \nthe same period. \nCard Systems \nThe total value of card based transactions \ndecreased by 13.48% to US$290.17 million in \nFebruary 2014, from US$335.36 million in \nJanuary 2014. \nMobile and Internet Based Transactions \n \nThe value of mobile and internet based \ntransactions decreased by 5.06%, from \n-\n0.5 \n1.0 \n1.5 \n2.0 \n2.5 \n3.0 \n3.5 \n4.0 \n4.5 \n-\n50 \n100 \n150 \n200 \n250 \nOct-11\nJan-12\nApr-12\nJul-12\nOct-12\nJan-13\nApr-13\nJul-13\nOct-13\nJan-14\nValue in US$ Billions\nVolume in Thousands\nZETSS Volumes and Values\nValue\nVolume\n8 \nUS$296.56 million in January 2014 to \nUS$281.56 million in February 2014. \nCheques \n \nThe value of cheque transactions, however, \nincreased to US$10.73 million in February \n2014, from US$5.24 million in January \n2014. \n \nReserve Bank of Zimbabwe \nMarch 2014 \n \n \n \n \n \n \n9 \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n1. Monetary Statistics \n \n \n1.1 Monetary Aggregates \n \n \n \n \n \n11 \n \n1.2 Broad Money Survey \n \n \n \n \n \n12 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n13 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n14 \n \n \n2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 15 \n \n2.2 Sectoral Analysis of Merchant Banks Loans and Advances \n16 \n \n2.3 Sectoral Analysis of Merchant Acceptances \n \n \n17 \n \n2.4 Sectoral Analysis of Commercial Banks Deposits \n \n18 \n \n2.5 Sectoral Analysis of Merchant Banks Deposits \n \n19 \n \n3. External Statistics \n \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n20 \n \n4. Interest Rates \n \n \n4.1 Lending Rates \n \n \n \n \n \n \n21 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n22 \n \n5. Inflation \n \n \n5.1 Monthly Inflation \n \n \n \n \n \n23 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n24 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n25 \n \n \n \n \n \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n7. Commercial Banks \n \n \n7.1 Assets \n \n \n \n \n \n \n \n26 \n \n7.2 Liabilities \n \n \n \n \n \n \n27 \n \n8. Accepting Houses \n \n \n8.1 Assets \n \n \n \n \n \n \n \n28 \n \n8.2 Liabilities \n \n \n \n \n \n \n29 \n \n 9. Building Societies \n \n \n9.1 Assets \n \n \n \n \n \n \n \n30 \n \n9.2 Liabilities \n \n \n \n \n \n \n31 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n32 \n \n11. Savings with Financial Institutions \n \n \n \n \n33 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n34 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n \n \n \n13.1 Values of Transactions \n \n \n \n \n35 \n \n13.2 Volumes of Transactions \n \n \n \n \n36 \n10 \n11 \nJanuary\nFebruary\nMarch\nApril\nMay\nJune\nJuly\nAugust\nSeptember\nOctober\nNovember\nDecember\nJanuary\nFebruary\nRBZ Demand Deposits\n78.6\n \n78.3\n \n77.3\n \n78.6\n \n74.5\n \n73.0\n \n73.5\n \n71.9\n \n72.8\n \n73.3\n \n72.6\n \n71.9\n \n69.7\n \n71.1\n \nComm. Banks Dem. Deposits\n1,924,517.4\n \n1,875,465.4\n \n1,860,664.0\n \n1,979,220.0\n \n1,932,968.1\n \n1,874,568.0\n \n1,926,968.4\n \n1,901,793.3\n \n1,952,024.0\n \n1,971,838.8\n \n1,821,288.9\n \n1,825,413.5\n \n2,039,955.9\n \n1,974,493.8\n \nMerchant Banks Dem. Deposits\n106,935.2\n \n102,797.7\n \n104,281.4\n \n107,324.1\n \n112,173.4\n \n114,560.5\n \n111,261.1\n \n109,449.6\n \n111,153.9\n \n112,536.2\n \n122,639.2\n \n134,494.8\n \n36,792.2\n \n47,555.9\n \nM1\n2,031,531.2\n \n1,978,341.4\n \n1,965,022.7\n \n2,086,622.6\n \n2,045,215.9\n \n1,989,201.5\n \n2,038,303.0\n \n2,011,314.8\n \n2,063,250.8\n \n2,084,448.30\n \n1,944,000.70\n \n1,959,980.2\n \n2,076,817.8\n \n2,022,120.8\n \nComm. Banks Savings Deposits\n193,007.6\n \n192,683.5\n \n201,459.2\n \n194,873.4\n \n221,622.3\n \n229,386.7\n \n201,667.8\n \n187,394.4\n \n227,599.9\n \n209,966.7\n \n201,724.6\n \n281,785.8\n \n215,665.0\n \n230,541.1\n \nBuilding Soc. Savings Deposits\n159,093.7\n \n168,605.4\n \n168,484.1\n \n170,975.7\n \n192,634.8\n \n189,753.8\n \n195,606.6\n \n189,953.1\n \n191,553.5\n \n187,410.7\n \n200,415.2\n \n204,200.7\n \n196,806.6\n \n195,707.7\n \nP O S B Savings Deposits\n55,832.5\n \n56,274.2\n \n57,860.7\n \n55,236.9\n \n56,544.5\n \n60,117.8\n \n60,162.5\n \n51,322.2\n \n58,974.0\n \n50,457.7\n \n60,845.4\n \n62,044.0\n \n58,314.5\n \n58,920.4\n \nComm. Banks U-30 Day Deposits\n632,215.7\n \n708,500.6\n \n734,849.5\n \n786,076.0\n \n637,041.1\n \n629,544.6\n \n663,617.3\n \n643,559.0\n \n606,360.8\n \n614,427.6\n \n605,429.9\n \n489,493.1\n \n552,134.9\n \n596,106.0\n \nMerchant Banks U-30 Day Deposits\n91,671.2\n \n65,975.9\n \n62,324.3\n \n64,604.1\n \n67,104.2\n \n56,223.1\n \n82,650.4\n \n80,569.1\n \n82,581.6\n \n80,368.8\n \n59,721.1\n \n56,379.8\n \n47,277.8\n \n48,250.7\n \nBuilding Soc. U- 30 Day Deposits\n60,885.9\n \n77,091.9\n \n82,098.1\n \n81,944.4\n \n122,672.1\n \n119,217.4\n \n121,325.5\n \n99,842.7\n \n138,431.2\n \n113,495.4\n \n118,360.9\n \n155,932.2\n \n107,130.3\n \n112,927.5\n \nM2\n3,224,237.8\n \n3,247,472.9\n \n3,272,098.6\n \n3,440,333.1\n \n3,342,834.9\n \n3,273,444.8\n \n3,363,333.0\n \n3,263,955.2\n \n3,368,751.9\n \n3,340,575.20\n \n3,190,497.80\n \n3,209,815.8\n \n3,254,146.90\n \n3,264,574.20\n \nComm. Banks O-30 Day Deposits\n351,356.6\n \n297,613.9\n \n249,558.5\n \n223,799.1\n \n387,930.6\n \n268,082.1\n \n219,826.9\n \n223,258.1\n \n257,854.4\n \n308,773.8\n \n328,511.0\n \n496,391.7\n \n352,689.2\n \n468,960.6\n \nMerchant Banks O-30 Day Deposits\n21,339.0\n \n55,714.0\n \n52,841.7\n \n56,349.4\n \n54,361.5\n \n52,329.5\n \n27,019.2\n \n25,199.0\n \n19,024.4\n \n14,876.1\n \n19,965.3\n \n6,900.3\n \n5,665.1\n \n-\n \nBuilding Soc. O- 30 Day Deposits\n192,823.3\n \n194,226.7\n \n203,912.9\n \n226,550.8\n \n212,044.5\n \n222,591.8\n \n222,795.8\n \n264,539.8\n \n242,907.0\n \n264,867.2\n \n244,283.7\n \n197,343.9\n \n253,060.8\n \n264,395.8\n \nBuilding Soc. Other Share Deposits\n10,141.6\n \n10,141.6\n \n11,266.6\n \n11,266.6\n \n11,266.5\n \n11,266.6\n \n11,266.6\n \n11,266.6\n \n11,266.6\n \n11,266.6\n \n11,266.6\n \n11,266.6\n \n11,266.6\n \n11,266.6\n \nP O S B Time Deposits\n8,497.2\n \n8,447.9\n \n8,845.8\n \n8,443.5\n \n9,703.5\n \n10,492.4\n \n10,680.2\n \n8,018.0\n \n10,855.2\n \n11,324.0\n \n12,586.1\n \n10,606.9\n \n11,816.7\n \n12,582.4\n \nM3\n3,808,395.5\n \n3,813,616.9\n \n3,798,524.1\n \n3,966,742.5\n \n4,018,141.5\n \n3,838,207.3\n \n3,854,921.7\n \n3,796,236.7\n \n3,910,659.4\n \n3,951,682.90\n \n3,807,110.40\n \n3,932,325.1\n \n3,888,645.3\n \n4,021,779.6\n \n2013\nTABLE 1.1 : MONETARY AGGREGATES\n US$ Thousands\n2014\n12 \nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nFEBRUARY\nNET FOREIGN ASSETS \n-485,643.4\n-478,669.1\n-627,094.5\n-477,210.6\n-488,616.3\n-770,401.9\n-822,415.5\n-884,443.1\n-814,488.4\n-850,336.4\n-1,001,798.9\n-810,172.3\n-846,622.1\n-799,433.7\n Assets\n994,812.7\n988,575.6\n867,399.6\n983,189.5\n1,065,690.2\n994,502.1\n967,794.1\n931,989.0\n1,075,508.0\n994,326.1\n856,654.9\n1,042,166.0\n1,009,920.7\n1,032,518.9\n Reserve Bank (RBZ)\n454,346.1\n421,879.3\n367,092.8\n412,155.0\n471,664.8\n461,797.0\n362,306.8\n287,616.2\n344,785.1\n322,450.3\n264,826.8\n338,487.8\n354,820.2\n365,075.8\n Deposit Money Banks (DMBs) \n507,151.4\n529,296.5\n469,834.9\n537,446.4\n547,557.0\n488,238.1\n536,681.8\n567,196.5\n663,455.7\n600,622.7\n531,059.0\n643,560.1\n610,318.8\n619,567.7\n Other Banking Institutions (OBIs) \\\n33,315.2\n37,399.9\n30,471.9\n33,588.1\n46,468.4\n44,467.0\n68,805.5\n77,176.2\n67,267.3\n71,253.1\n60,769.1\n60,118.1\n44,781.8\n47,875.4\n Liabilities \\2\n-1,480,456.0\n-1,467,244.7\n-1,494,494.1\n-1,460,400.2\n-1,554,306.5\n-1,764,904.0\n-1,790,209.6\n-1,816,432.1\n-1,889,996.4\n-1,844,662.6\n-1,858,453.8\n-1,852,338.3\n-1,856,542.9\n-1,831,952.5\n RBZ\n1,149,023.6\n1,141,623.5\n1,135,073.4\n1,140,521.7\n1,134,105.5\n1,138,062.0\n1,143,126.7\n1,139,865.9\n1,146,634.4\n1,150,527.4\n1,147,979.0\n1,150,150.8\n1,148,693.8\n1,151,300.5\n DMBs\n311,214.1\n303,476.1\n337,091.1\n293,394.4\n393,575.8\n600,126.4\n625,430.1\n655,728.1\n722,521.0\n673,156.2\n689,480.9\n671,435.2\n681,744.6\n655,537.7\n OBIs\n20,218.4\n22,145.2\n22,329.6\n26,484.0\n26,625.2\n26,715.6\n21,652.8\n20,838.1\n20,841.0\n20,979.0\n20,993.9\n30,752.3\n26,104.5\n25,114.4\nNET DOMESTIC ASSETS \n4,294,038.7\n4,292,286.0\n4,425,618.6\n4,443,953.2\n4,506,758.0\n4,608,609.2\n4,677,337.2\n4,680,679.8\n4,725,147.8\n4,802,019.3\n4,808,909.2\n4,742,497.4\n4,735,267.5\n4,821,213.2\nDOMESTIC CREDIT\n3,777,967.9\n3,781,756.5\n3,845,110.1\n3,808,385.3\n3,871,013.0\n3,936,046.1\n3,966,266.5\n3,988,814.6\n4,006,290.9\n4,079,215.4\n4,091,310.4\n4,068,697.5\n3,954,914.2\n4,102,727.4\n Claims on Government (net) \n166,842.3\n153,164.0\n170,638.1\n180,007.9\n212,221.9\n206,189.6\n232,272.7\n234,118.0\n228,614.8\n299,686.0\n331,797.8\n357,997.4\n327,805.9\n415,048.8\n RBZ\n-1,225.8\n-1,192.4\n-1,179.6\n-1,180.8\n-1,179.7\n-1,828.4\n-3,487.6\n-1,242.0\n-1,196.6\n-1,468.9\n-1,188.2\n-1,182.3\n-1,181.7\n-1,181.8\n DMBs\n167,834.5\n154,122.7\n151,543.0\n160,538.4\n192,880.2\n187,784.4\n215,526.7\n215,126.4\n209,577.8\n280,921.3\n292,752.3\n319,016.2\n288,824.0\n376,067.1\n OBIs\n233.6\n233.6\n20,274.7\n20,650.2\n20,521.4\n20,233.6\n20,233.6\n20,233.6\n20,233.6\n20,233.6\n40,233.6\n40,163.5\n40,163.5\n40,163.5\n Claims on Public Enterprises \n52,261.1\n53,708.5\n54,091.4\n58,973.6\n63,604.9\n63,628.7\n62,174.3\n60,363.0\n59,809.8\n59,424.2\n60,844.8\n60,645.0\n60,553.0\n60,689.3\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n DMBs\n52,261.1\n53,708.5\n54,091.4\n58,973.6\n63,604.9\n63,628.7\n62,174.3\n60,363.0\n59,809.8\n59,424.2\n60,844.8\n60,645.0\n60,553.0\n60,689.3\n Agri-PEs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Other\n52,261.1\n53,708.5\n54,091.4\n58,973.6\n63,604.9\n63,628.7\n62,174.3\n60,363.0\n59,809.8\n59,424.2\n60,844.8\n60,645.0\n60,553.0\n60,689.3\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Claims on Private Sector\n3,558,864.5\n3,574,884.1\n3,620,380.6\n3,569,403.8\n3,595,186.2\n3,666,227.8\n3,671,819.5\n3,694,333.6\n3,717,866.2\n3,720,105.1\n3,698,667.8\n3,650,055.2\n3,566,555.3\n3,626,989.2\n RBZ\n41,014.1\n41,015.1\n41,014.1\n41,014.1\n40,128.8\n40,128.8\n36,146.1\n36,147.1\n36,112.7\n35,120.1\n35,116.1\n35,116.1\n35,116.1\n35,116.1\n DMBs\n3,057,321.2\n3,065,133.7\n3,111,948.8\n3,058,690.9\n3,063,681.6\n3,125,352.0\n3,133,523.7\n3,159,392.5\n3,142,391.3\n3,141,641.5\n3,106,195.8\n3,053,645.3\n2,955,033.9\n3,016,585.0\n OBIs\n460,529.2\n468,735.3\n467,417.7\n469,698.7\n491,375.8\n500,747.0\n502,149.7\n498,794.1\n539,362.2\n543,343.5\n557,355.9\n561,293.9\n576,405.3\n575,288.2\nOTHER ITEMS (NET) \n516,070.8\n510,529.5\n580,508.5\n635,567.9\n635,745.0\n672,563.1\n711,070.7\n691,865.2\n718,856.9\n722,804.0\n717,598.9\n673,799.9\n780,353.3\n718,485.9\nBROAD MONEY (M3) \n3,808,395.4\n3,813,616.9\n3,798,524.1\n3,966,742.5\n4,018,141.5\n3,838,207.3\n3,854,921.7\n3,796,236.7\n3,910,659.4\n3,951,682.9\n3,807,110.4\n3,932,325.1\n3,888,645.3\n4,021,779.6\n2014\n2013\nTABLE 1.2 : BROAD MONEY SURVEY\nUS$ Thousands\n$\n13 \nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nFEBRUARY\nNET FOREIGN ASSETS \n-50,114.5\n6,974.3\n-148,425.4\n149,883.9\n-11,405.7\n-281,785.6\n-52,013.6\n-62,027.6\n69,954.8\n-35,848.0\n-151,462.4\n191,626.5\n-36,449.8\n47,188.5\n Assets\n-94,995.8\n-6,237.1\n-121,176.0\n115,789.9\n82,500.7\n-71,188.1\n-26,708.0\n-35,805.2\n143,519.1\n-81,181.9\n-137,671.2\n185,511.0\n-32,245.2\n22,598.1\n Reserve Bank (RBZ)\n6,357.3\n-32,466.8\n-54,786.5\n45,062.2\n59,509.8\n-9,867.8\n-99,490.2\n-74,690.6\n57,168.9\n-22,334.8\n-57,623.5\n73,661.0\n16,332.4\n10,255.6\n Deposit Money Banks (DMBs)\n-92,123.2\n22,145.1\n-59,461.6\n67,611.5\n10,110.6\n-59,318.9\n48,443.7\n30,514.8\n96,259.1\n-62,833.0\n-69,563.6\n112,501.1\n-33,241.3\n9,248.9\n Other Banking Institutions (OBIs) \\1\n-9,229.8\n4,084.6\n-6,928.0\n3,116.2\n12,880.3\n-2,001.4\n24,338.5\n8,370.6\n-9,908.9\n3,985.9\n-10,484.1\n-651.0\n-15,336.3\n3,093.6\n Liabilities \\2\n44,881.3\n13,211.3\n-27,249.4\n34,093.9\n-93,906.3\n-210,597.5\n-25,305.6\n-26,222.5\n-73,564.3\n45,333.9\n-13,791.2\n6,115.5\n-4,204.6\n24,590.3\n RBZ\n-137.6\n-7,400.1\n-6,550.1\n5,448.4\n-6,416.2\n3,956.5\n5,064.8\n-3,260.9\n6,768.6\n3,892.9\n-2,548.3\n2,171.8\n-1,457.0\n2,606.7\n DMBs\n-40,904.2\n-7,738.0\n33,615.1\n-43,696.7\n100,181.4\n206,550.6\n25,303.6\n30,298.0\n66,792.9\n-49,364.8\n16,324.7\n-18,045.7\n10,309.4\n-26,206.9\n OBIs\n-3,839.4\n1,926.8\n184.4\n4,154.5\n141.2\n90.4\n-5,062.8\n-814.7\n2.9\n138.0\n14.9\n9,758.4\n-4,647.8\n-990.1\nNET DOMESTIC ASSETS \\3\n-28,162.2\n-1,752.7\n133,332.6\n18,334.6\n62,804.8\n101,851.2\n68,728.0\n3,342.6\n44,468.0\n76,871.5\n6,889.9\n-66,411.8\n-7,230.0\n85,945.8\nDOMESTIC CREDIT\n-10,500.6\n3,788.6\n63,353.6\n-36,724.9\n62,627.7\n65,033.1\n30,220.4\n22,548.1\n17,476.3\n72,924.5\n12,095.0\n-22,612.8\n-113,783.4\n147,813.2\n Claims on Government (net) \n-9,216.1\n-13,678.3\n17,474.1\n9,369.8\n32,214.0\n-6,032.3\n26,083.2\n1,845.2\n-5,503.1\n71,071.2\n32,111.8\n26,199.6\n-30,191.5\n87,242.9\n RBZ\n9,872.0\n33.4\n12.8\n-1.2\n1.1\n-648.7\n-1,659.1\n2,245.5\n45.4\n-272.3\n280.7\n5.8\n0.7\n-0.1\n DMBs\n-18,088.0\n-13,711.8\n-2,579.8\n8,995.5\n32,341.8\n-5,095.8\n27,742.3\n-400.3\n-5,548.6\n71,343.5\n11,831.0\n26,263.8\n-30,192.1\n87,243.1\n OBIs\n-1,000.0\n0.0\n20,041.1\n375.5\n-128.8\n-287.8\n0.0\n0.0\n0.0\n0.0\n20,000.0\n-70.1\n0.0\n0.0\n Claims on Public Enterprises \n544.3\n1,447.3\n382.9\n4,882.2\n4,631.3\n23.8\n-1,454.4\n-1,811.3\n-553.2\n-385.6\n1,420.6\n-199.9\n-91.9\n136.3\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n DMBs\n544.3\n1,447.3\n382.9\n4,882.2\n4,631.3\n23.8\n-1,454.4\n-1,811.3\n-553.2\n-385.6\n1,420.6\n-199.9\n-91.9\n136.3\n Agri-PEs\n0.0\n0.0\n0.0\n0.0\n0.0\n-5,259.3\n-5,260.3\n-5,261.3\n-5,262.3\n-5,263.3\n-5,003.2\n-5,004.2\n-5,005.2\n-5,006.2\n Other\n544.3\n1,447.3\n382.9\n4,882.2\n4,631.3\n5,283.1\n3,805.9\n3,450.0\n4,709.1\n4,877.7\n6,423.8\n4,804.3\n4,913.3\n5,142.5\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Claims on Private Sector\n-1,828.7\n16,019.6\n45,496.5\n-50,976.8\n25,782.4\n71,041.6\n5,591.7\n22,514.2\n23,532.6\n2,238.9\n-21,437.3\n-48,612.5\n-83,500.0\n60,434.0\n RBZ\n377.8\n1.0\n-1.0\n0.0\n-885.3\n0.0\n-3,982.7\n1.0\n-34.4\n-992.6\n-4.0\n0.0\n0.0\n0.0\n DMBs\n-7,832.6\n7,812.5\n46,815.1\n-53,257.8\n4,990.7\n61,670.4\n8,171.7\n25,868.8\n-17,001.2\n-749.8\n-35,445.7\n-52,550.5\n-98,611.4\n61,551.1\n OBIs\n5,626.0\n8,206.1\n-1,317.5\n2,281.0\n21,677.1\n9,371.2\n1,402.7\n-3,355.6\n40,568.2\n3,981.3\n14,012.4\n3,938.0\n15,111.4\n-1,117.1\nOTHER ITEMS (NET) \n-17,661.6\n-5,541.3\n69,979.0\n55,059.4\n177.1\n36,818.1\n38,507.5\n-19,205.5\n26,991.7\n3,947.0\n-5,205.1\n-43,799.0\n106,553.4\n-61,867.4\nBROAD MONEY (M3) \n-78,276.7\n5,221.5\n-15,092.8\n168,218.4\n51,399.0\n-179,934.2\n16,714.4\n-58,685.0\n114,422.8\n41,023.5\n-144,572.5\n125,214.7\n-43,679.7\n133,134.2\n Broad Money (M3) \n-2.0%\n0.1%\n-0.4%\n4.4%\n1.3%\n-4.5%\n0.4%\n-1.5%\n3.0%\n1.0%\n-3.7%\n3.3%\n-1.1%\n3.4%\n Domestic Credit \n-0.3%\n0.1%\n1.7%\n-1.0%\n1.6%\n1.7%\n0.8%\n0.6%\n0.4%\n1.8%\n0.3%\n-0.6%\n-2.8%\n3.7%\n Claims on Private Sector\n-0.1%\n0.5%\n1.3%\n-1.4%\n0.7%\n2.0%\n0.2%\n0.6%\n0.6%\n0.1%\n-0.6%\n-1.3%\n-2.3%\n1.7%\n2014\nTABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3)\n US$ Thousands\n2013\n14 \nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nFEBRUARY\nNET FOREIGN ASSETS \n-89,936.3\n-190,761.0\n-131,411.5\n-100,210.8\n-19,830.8\n-139,041.9\n-211,017.8\n-408,762.5\n-268,481.4\n-146,235.3\n-116,519.4\n-395,149.4\n-456,065.7\n-425,304.4\n-366,815.7\n-432,496.1\n-660,899.2\n-374,643.5\n-360,978.8\n-320,764.6\n Assets\n-42,038.0\n-142,367.4\n-71,725.6\n-81,928.2\n36,818.4\n33,821.1\n-99,644.3\n-321,764.7\n-149,564.2\n-66,182.3\n50,744.2\n-13,526.8\n-43,201.5\n13,716.9\n123,202.2\n29,959.1\n-206,756.1\n-47,642.5\n15,108.1\n43,943.2\n Reserve Bank (RBZ)\n-47,146.3\n-77,953.3\n-5,234.1\n-34,371.4\n-34,330.1\n33,849.9\n23,562.1\n-129,087.9\n-120,111.9\n-97,956.8\n15,270.3\n22,548.6\n-81,223.8\n-105,297.0\n-86,234.8\n-80,364.6\n-121,084.8\n-109,501.0\n-99,525.9\n-56,803.4\n Deposit Money Banks (DMBs)\n-5,809.4\n-76,767.0\n-84,133.7\n-68,113.2\n53,083.1\n-22,552.6\n-134,496.9\n-207,670.1\n-38,404.5\n23,160.4\n16,001.4\n-59,281.2\n-6,421.5\n69,476.4\n172,539.7\n73,331.5\n-104,318.2\n44,285.5\n103,167.4\n90,271.2\n Other Banking Institutions (OBIs) \\1\n10,917.8\n12,352.8\n17,642.1\n20,556.4\n18,065.4\n22,523.8\n11,290.5\n14,993.3\n8,952.2\n8,614.1\n19,472.4\n23,205.8\n44,443.8\n49,537.5\n36,897.4\n36,992.2\n18,646.9\n17,573.0\n11,466.5\n10,475.5\n Liabilities \\2\n-47,898.3\n-48,393.5\n-59,685.9\n-18,282.6\n-56,649.1\n-172,863.0\n-111,373.4\n-86,997.8\n-118,917.3\n-80,053.1\n-167,263.6\n-381,622.6\n-412,864.3\n-439,021.3\n-490,017.9\n-462,455.2\n-454,143.1\n-327,001.0\n-376,086.8\n-364,707.8\n RBZ\n-28,246.4\n-27,498.9\n-21,730.4\n-33,783.9\n-20,811.3\n-2,908.6\n-9,155.5\n-20,012.2\n-23,389.5\n-17,346.3\n-10,305.8\n-7,088.6\n804.6\n-4,310.9\n-3,016.5\n3,294.4\n659.3\n989.6\n-329.7\n9,677.0\n DMBs\n78,373.3\n79,089.8\n89,568.8\n53,504.6\n79,315.3\n177,406.0\n121,978.0\n105,662.9\n140,952.3\n92,713.4\n172,628.6\n383,811.9\n408,225.7\n439,507.9\n489,247.4\n462,114.0\n456,163.5\n319,316.8\n370,530.4\n352,061.6\n OBIs\n-2,228.6\n-3,197.3\n-8,152.6\n-1,438.0\n-1,854.9\n-1,634.4\n-1,449.1\n1,347.1\n1,354.5\n4,686.0\n4,940.8\n4,899.3\n3,834.0\n3,824.3\n3,786.9\n-2,953.2\n-2,679.8\n6,694.5\n5,886.1\n2,969.2\nNET DOMESTIC ASSETS \\3\n880,494.1\n827,621.5\n830,303.8\n860,964.8\n755,911.5\n925,312.7\n874,388.8\n844,811.7\n628,387.0\n659,222.6\n554,475.7\n643,086.0\n613,427.0\n632,242.7\n549,291.7\n570,215.1\n643,352.8\n420,296.5\n441,228.7\n528,927.2\nDOMESTIC CREDIT\n864,860.4\n822,357.3\n802,510.0\n795,755.7\n873,159.5\n990,341.7\n986,989.4\n963,317.9\n842,942.1\n786,202.9\n731,055.8\n708,713.7\n603,624.8\n592,398.4\n536,322.4\n576,565.6\n470,358.2\n280,229.0\n176,946.2\n320,970.8\n Claims on Government (net) \n81,808.4\n75,191.5\n74,845.9\n82,122.6\n82,338.1\n177,893.2\n168,720.9\n154,920.0\n81,055.3\n91,424.1\n133,685.7\n123,996.4\n152,935.2\n160,962.3\n155,400.1\n219,466.4\n251,087.3\n181,938.9\n160,963.6\n261,884.9\n RBZ\n948.3\n533.5\n116.6\n-9,441.8\n-9,407.1\n-9,262.9\n652.8\n562.6\n582.2\n537.9\n553.3\n277.7\n-1,964.9\n260.4\n318.0\n9,875.8\n9,846.6\n9,915.4\n44.1\n10.6\n DMBs\n80,860.2\n74,658.0\n74,729.3\n90,330.7\n90,511.6\n185,922.5\n167,834.5\n154,123.7\n60,198.4\n70,439.5\n112,834.8\n103,688.6\n134,666.5\n140,468.3\n134,848.5\n190,590.5\n202,240.7\n133,093.6\n120,989.5\n221,944.4\n OBIs\n0.0\n0.0\n0.0\n1,233.6\n1,233.6\n1,233.6\n233.6\n233.6\n20,274.7\n20,446.7\n20,297.6\n20,030.1\n20,233.6\n20,233.6\n20,233.6\n19,000.0\n39,000.0\n38,929.9\n39,929.9\n39,929.9\n Claims on Public Enterprises \n5,300.2\n7,279.8\n-3,179.6\n49.8\n9,427.1\n6,792.4\n7,557.9\n9,665.0\n24,122.0\n27,528.6\n31,812.4\n14,317.4\n12,558.6\n11,073.2\n13,749.2\n9,782.8\n9,380.3\n8,928.1\n8,291.9\n6,980.8\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n DMBs\n5,300.2\n7,279.8\n-3,179.6\n49.8\n9,427.1\n6,792.4\n7,557.9\n9,665.0\n24,122.0\n27,528.6\n31,812.4\n14,317.4\n12,558.6\n11,073.2\n13,749.2\n9,782.8\n9,380.3\n8,928.1\n8,291.9\n6,980.8\n Agri-PEs\n0.0\n0.0\n0.0\n0.0\n0.0\n-1.0\n0.0\n-1.0\n-1.0\n0.0\n0.0\n-1.0\n-4,771.8\n-4,772.8\n-4,773.8\n-4,774.8\n0.0\n0.0\n0.0\n0.0\n Other\n5,300.2\n7,279.8\n-3,179.6\n49.8\n9,427.1\n6,793.4\n7,557.9\n9,666.0\n24,123.0\n27,528.6\n31,812.4\n14,318.4\n17,330.4\n15,846.0\n18,523.0\n14,557.6\n9,380.3\n8,928.1\n8,291.9\n6,980.8\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Claims on Private Sector\n777,751.7\n739,886.0\n730,843.7\n713,583.3\n781,394.3\n805,656.0\n810,710.6\n798,733.0\n737,764.8\n667,250.2\n565,557.7\n570,399.9\n438,131.0\n420,363.0\n367,173.2\n347,316.4\n209,890.6\n89,362.0\n7,690.8\n52,105.1\n RBZ\n665.0\n1,765.1\n-9,455.1\n-9,387.2\n-3,975.5\n-3,903.1\n-5,788.8\n-7,388.1\n-6,693.9\n-3,088.9\n-7,047.9\n-3,630.4\n-2,646.2\n-5,176.5\n-6,435.5\n-7,002.0\n-6,405.5\n-5,520.2\n-5,898.0\n-5,899.0\n DMBs\n616,003.9\n597,497.2\n617,287.4\n574,157.1\n654,515.1\n687,696.6\n691,818.1\n687,296.3\n627,797.4\n545,532.3\n441,516.4\n461,613.7\n336,118.8\n335,446.9\n244,506.0\n250,995.0\n109,936.4\n-11,508.5\n-102,287.3\n-48,548.7\n OBIs\n161,082.9\n140,623.7\n123,011.4\n148,813.5\n130,854.7\n121,862.5\n124,681.3\n118,824.8\n116,661.3\n124,806.8\n131,089.3\n112,416.6\n104,658.3\n90,092.6\n129,102.7\n103,323.4\n106,359.7\n106,390.7\n115,876.1\n106,552.9\nOTHER ITEMS (NET) \n15,633.7\n5,264.2\n27,793.8\n65,209.1\n-117,248.0\n-65,029.0\n-112,600.7\n-118,506.2\n-214,555.1\n-126,980.3\n-176,580.1\n-65,627.7\n9,802.2\n39,844.3\n12,969.3\n-6,350.4\n172,994.5\n140,067.4\n264,282.5\n207,956.4\nBROAD MONEY (M3) \n790,557.9\n636,860.5\n698,892.3\n760,753.9\n736,080.7\n786,270.8\n663,371.0\n436,049.2\n359,905.6\n512,987.3\n437,956.1\n247,936.6\n157,361.3\n206,938.3\n182,476.0\n137,719.1\n-17,546.4\n45,653.0\n80,250.0\n208,162.6\nGROWTH RATES\n Broad Money (M3) \n27.2%\n21.6%\n23.1%\n24.9%\n23.8%\n25.4%\n21.1%\n12.9%\n10.5%\n14.9%\n12.2%\n6.9%\n4.3%\n5.8%\n4.9%\n3.6%\n-0.5%\n1.2%\n2.1%\n5.5%\n Domestic Credit \n34.6%\n31.9%\n30.1%\n29.4%\n31.8%\n35.4%\n35.4%\n34.2%\n28.1%\n26.0%\n23.3%\n22.0%\n18.0%\n17.4%\n15.5%\n16.5%\n13.0%\n7.4%\n4.7%\n8.5%\n Claims on Private Sector\n31.7%\n29.2%\n27.9%\n26.8%\n28.9%\n29.2%\n29.5%\n28.8%\n25.6%\n23.0%\n18.7%\n18.4%\n13.5%\n12.8%\n11.0%\n10.3%\n6.0%\n2.5%\n0.2%\n1.5%\n2013\n2012\n$ Thousands\nTABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3)\n2014\n15 \nTABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nCONSTRUCTION \nCOMMUNICA-\nTION \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL \nMANUFAC-\nTURING \nMINING \nSERVICES TRANSPORT \nINDIVIDUALS \nCONGLOMER-\nATES/1 \nTOTAL \nEND OF \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n450,170.0 \n31,073.4 \n38,762.3 \n426,050.9 \n11,967.9 \n31,547.4 \n417,961.3 \n144,645.1 \n237,323.7 \n33,906.5 \n300,841.1 \n9,373.1 \n2,133,622.7 \nFREBRUARY \n494,536.6 \n33,786.9 \n28,372.0 \n439,556.7 \n14,811.4 \n33,948.5 \n409,692.7 \n128,242.7 \n303,269.9 \n38,235.9 \n298,171.5 \n3,685.5 \n2,226,310.2 \nMARCH \n467,873.97 \n41,532.7 \n68,987.2 \n433,337.1 \n16,118.8 \n34,704.7 \n471,204.9 \n159,925.7 \n307,134.7 \n44,413.57 \n370,123.5 \n4,491.7 \n2,419,848.6 \nAPRIL \n455,178.9 \n43,628.2 \n23,433.4 \n428,381.7 \n14,997.8 \n35,589.1 \n444,798.7 \n135,046.2 \n288,857.6 \n45,643.6 \n377,037.0 \n7,693.7 \n2,300,585.8 \nMAY \n484,635.0 \n38,637.2 \n27,795.2 \n455,737.9 \n14,699.1 \n35,106.1 \n465,890.2 \n115,457.8 \n301,547.9 \n52,075.2 \n382,172.8 \n5,034.0 \n2,378,788.7 \nJUNE \n489,730.1 \n37,474.3 \n38,198.7 \n425,521.3 \n7,310.7 \n53,815.0 \n454,368.5 \n110,349.9 \n295,432.3 \n51,453.6 \n385,769.7 \n11,033.4 \n2,360,457.5 \nJULY \n483,103.7 \n40,342.5 \n33,494.3 \n464,921.7 \n6,869.2 \n38,522.6 \n541,025.9 \n116,557.1 \n307,117.5 \n48,218.0 \n426,582.7 \n4,455.3 \n2,511,210.5 \nAUGUST \n521,743.0 \n38,889.1 \n43,894.5 \n425,531.4 \n7,260.6 \n39.087.2 \n451,871.2 \n110,041.8 \n346,006.0 \n40,216.0 \n374,587.1 \n9,914.6 \n2,409,042.5 \nSEPTEMBER \n496,289.3 \n39,446.9 \n38,856.6 \n447,247.2 \n13,953.5 \n43,006.7 \n437,211.9 \n118,873.7 \n330,709.6 \n40,046.6 \n373,596.8 \n9,790.6 \n2,389,029.4 \nOCTOBER \n491,610.6 \n38,871.5 \n39,766.0 \n471,966.2 \n8,023.3 \n40,835.3 \n420,445.3 \n110,778.3 \n417,411.6 \n36,334.1 \n376,463.1 \n9,861.9 \n2,462,367.3 \nNOVEMBER \n487,289.4 \n40,321.7 \n42,332.0 \n488,637.3 \n3,116.5 \n36,852.0 \n417,162.5 \n117,050.8 \n389,727.1 \n39,126.4 \n369,190.3 \n17,960.5 \n2,448,766.4 \nDECEMBER \n533,165.2 \n42,285.1 \n17,617.9 \n435,613.1 \n5,047.0 \n62,165.8 \n389,181.2 \n115,404.6 \n379,809.3 \n37,409.1 \n369,838.8 \n18,252.9 \n2,405,790.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n489,585.3 \n43,743.8 \n18,574.7 \n464,097.6 \n5,467.4 \n48,086.1 \n362,554.0 \n116,635.5 \n412,901.1 \n37,722.2 \n367,126.2 \n16,773.1 \n2,383,267.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nFEBRUARY \n519,154.6 \n38,918.1 \n24,765.4 \n460,528.2 \n10,397.3 \n47,488.6 \n385,038.1 \n116,670.5 \n401,619.6 \n32,978.1 \n396,800.8 \n8,542.7 \n2,442,902.1 \n1. These are large corporation with business operations covering across a number of sectors. \nTABLE 2.2 :SECTORAL ANALYSIS OF MERCHANT BANKS LOANS AND ADVANCES \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nCONSTRUCTION DISTRIBUTION \nFINANCIAL \nFINANCIAL \nMANUFACTUR-\nING \nMINING \nSERVICES TRANSPORT INDIVIDUALS CONGLOM-\nERATES \nTOTAL \nEND OF \n \n \n \nINVESTMENT ORGANISATIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n67,517.6 \n16,163.5 \n56,807.8 \n18,616.7 \n58,326.4 \n78,419.6 \n89,890.9 \n106,553.9 \n18,590.6 \n144,497.3 \n15,986.5 \n671,370.7 \nFEBRUARY \n58,292.9 \n21,826.4 \n56,104.4 \n18,101.2 \n62,883.5 \n78,714.5 \n89,292.0 \n117,785.5 \n17,680.2 \n128,827.9 \n9,967.9 \n668,578.1 \nMARCH \n69,856.5 \n16,673.4 \n60,104.1 \n16,684.4 \n58,510.5 \n72,517.4 \n97,158.1 \n88,814.4 \n14,831.7 \n173,486.3 \n17,657.4 \n686,294.1 \nAPRIL \n63,793.8 \n17,080.4 \n63,074.6 \n20,726.0 \n58,308.4 \n70,475.5 \n89,412.8 \n87,962.4 \n15,412.2 \n174,072.5 \n18,871.2 \n680,189.8 \nMAY \n67,425.0 \n17,232.4 \n66,358.3 \n21,534.7 \n59,449.7 \n72,998.8 \n89,738.5 \n84,961.5 \n15,028.8 \n189,089.0 \n18,888.7 \n702,705.4 \nJUNE \n68,762.1 \n16,928.9 \n64,967.8 \n11,199.2 \n57,389.1 \n72,983.6 \n94,193.4 \n98,762.3 \n13,866.1 \n176,186.3 \n18,800.0 \n694,038.7 \nJULY \n66,851.1 \n15,061.8 \n64,398.0 \n11,134.2 \n34,750.7 \n77,551.0 \n100,908.8 \n109,118.2 \n14,701.2 \n162,459.7 \n15,995.4 \n672,930.0 \nAUGUST \n67,246.9 \n15,177.5 \n68,887.7 \n11,071.0 \n34,241.2 \n77,411.5 \n122,491.8 \n120,661.7 \n13,212.7 \n137,335.6 \n15,655.4 \n683,393.0 \nSEPTEMBER \n69,700.0 \n15,202.1 \n67,723.0 \n10,981.1 \n34,026.9 \n77,338.7 \n103,272.3 \n106,398.8 \n16,871.0 \n173,866.8 \n15,558.8 \n690,939.6 \nOCTOBER \n72,224.8 \n17,189.6 \n64,266.5 \n11,000.2 \n34,072.5 \n67,425.8 \n95,019.2 \n125,049.4 \n15,931.7 \n172,834.8 \n17,401.5 \n692,416.0 \nNOVEMBER \n68,628.1 \n15,194.8 \n61,488.3 \n11,456.3 \n33,491.0 \n71,854.0 \n101,230.0 \n129,298.4 \n41,690.2 \n133,954.5 \n11,348.1 \n683,329.3 \nDECEMBER \n67,626.4 \n9,691.4 \n50,354.1 \n11,629.3 \n29,200.1 \n70,093.2 \n101,301.5 \n100,507.4 \n15,301.2 \n174,918.3 \n14,748.0 \n645,370.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n24,456.9 \n6,122.0 \n33,734.0 \n9,856.2 \n23,491.2 \n42,349.6 \n55,948.1 \n35,302.4 \n15,083.5 \n153,861.9 \n1.893.8 \n402,099.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nFEBRUARY \n28,842.8 \n5,882.2 \n32,873.4 \n9,361.7 \n22,320.3 \n44,904.2 \n55,857.3 \n33,373.4 \n11,068.1 \n182,690.8 \n0.0 \n427,174.2 \n16 \n17 \nTABLE 2.3 :SECTORAL ANALYSIS OF MERCHANT BANKS ACCEPTANCES \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nDISTRIBUTION \nFINANCIAL \nFINANCIAL \nMANUFACTURING \nMINING \nSERVICES \nTRANSPORT \nINDIVIDUALS \nCONGLOMERATES \nTOTAL \nEND OF \n \n \nINVESTMENT ORGANISATIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n70.0 \n0.0 \n0.0 \n0.0 \n3,641.0 \n18,088.3 \n1,189.0 \n11,190.4 \n0.0 \n0.0 \n34,178.7 \nFEBRUARY \n100.0 \n0.0 \n0.0 \n0.0 \n8,000.0 \n14,889.0 \n1,569.0 \n0.0 \n0.0 \n0.0 \n24,558.3 \nMARCH \n70.0 \n0.0 \n0.0 \n0.0 \n7,860.0 \n0.0 \n154.0 \n0.0 \n15,400.0 \n0.0 \n23,484.0 \nAPRIL \n5,100.0 \n0.0 \n0.0 \n0.0 \n7,620.0 \n14,889.0 \n278.0 \n0.0 \n15,200.0 \n0.0 \n43,087.0 \nMAY \n5,100.0 \n0.0 \n0.0 \n0.0 \n7,500.0 \n6,330.8 \n2,109.4 \n0.0 \n1,000.0 \n0.0 \n22,040.2 \nJUNE \n5,100.0 \n0.0 \n0.0 \n0.0 \n5,760.0 \n0.0 \n212.0 \n0.0 \n15,210.0 \n0.0 \n26,282.0 \nJULY \n5,100.0 \n0.0 \n0.0 \n0.0 \n7,000.0 \n0.0 \n212.0 \n0.0 \n15,110.0 \n0.0 \n27,422.0 \nAUGUST \n5,100.0 \n0.0 \n0.0 \n0.0 \n6,000.0 \n0.0 \n1,065.0 \n0.0 \n0.0 \n0.0 \n12,165.0 \nSEPTEMBER \n5,000.0 \n0.0 \n0.0 \n0.0 \n5,800.0 \n0.0 \n165.0 \n0.0 \n900.0 \n0.0 \n11,865.0 \nOCTOBER \n0.0 \n0.0 \n0.0 \n0.0 \n5,150.0 \n0.0 \n5,135.0 \n0.0 \n0.0 \n0.0 \n10,285.0 \nNOVEMBER \n5,000.0 \n0.0 \n0.0 \n0.0 \n8,000.0 \n0.0 \n2,035.0 \n0.0 \n0.0 \n0.0 \n27,595.6 \nDECEMBER \n4,745.3 \n0.0 \n0.0 \n0.0 \n6,750.6 \n12,304.4 \n1,992.3 \n0.0 \n0.0 \n0.0 \n25,792.6 \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n19,047.7 \n826.0 \n0.0 \n0.0 \n3,000.0 \n12,673.6 \n359,6 \n0.0 \n1,809.9 \n0.0 \n37,357.2 \nFEBRUARY \n5,000.0 \n0.0 \n0.0 \n0.0 \n1,107.5 \n12,573.7 \n373.2 \n0.0 \n3,445.9 \n0.0 \n22,500.3 \n \n \n \n \n \n \n \n \n \n \n \n \n18 \n TABLE 2.4 : SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nEND OF \nAGRICUL-\nTURE \nCONSTRUC-\nTION \nCOMMUNI-\nCATIONS \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL MANUFACTUR-\nING \nMINING \nSERVICES TRANSPORT \nINDIVIDUALS \nCONGLOMERATES \nTOTAL \n \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n137,919.4 \n35,324.8 \n106,812.5 \n296,807.8 \n116,945.8 \n277,304.7 \n268,525.2 \n119,278.5 \n515,754.9 \n21,989.9 \n431,208.6 \n14,582.8 \n2,342,454.9 \n FEBRUARY \n132,404.53 \n36,283.33 \n110,794.26 \n341,462.75 \n99,165.46 \n288,834.34 \n264,450.53 \n104,923.38 \n577,378.61 \n22,873.9 \n467,084.94 \n14,234.06 \n2,459,890.1 \nMARCH \n121,233.1 \n38,555.4 \n124,038.5 \n348,687.2 \n93,320.0 \n263’552.7 \n276,941.5 \n76,084.4 \n629,624.3 \n24,984.1 \n468,608.5 \n14,756.2 \n2,480,386.1 \nAPRIL \n127,168.8 \n39,606.6 \n115,033.7 \n331,306.5 \n83,707.8 \n289,829.1 \n276,208.7 \n75,855.9 \n644,979.8 \n24,822.5 \n465,129 \n14,829.3 \n2,488,477.6 \nMAY \n124,277.7 \n43,333.7 \n142,130.1 \n370,561.1 \n93,500.0 \n249,454.2 \n299,116.6 \n86,314.7 \n648,511.1 \n28,279.3 \n516,523.0 \n16,891.5 \n2,618,892.9 \nJUNE \n84,589.8 \n51,354.0 \n132,428.7 \n351,179.8 \n98,785.6 \n375,613.6 \n214,696.7 \n76,370.1 \n727,955.7 \n36,208.4 \n456,454.4 \n18,727.6 \n2,624,364.4 \nJULY \n106,470.8 \n47,401.0 \n131,489.0 \n345,036.3 \n70,487,9 \n397,969.7 \n213,370.5 \n89,915.4 \n726,447.6 \n46,000.4 \n505,054.1 \n29,735.3 \n2,709,378.0 \nAUGUST \n99,151.6 \n49,226.4 \n116,820.6 \n363,080.1 \n382,619.4 \n71,775.9 \n216,433.0 \n73,978.5 \n737,065.6 \n48,183.8 \n488,183.8 \n28,785.3 \n2,663,379.8 \nSEPTEMBER \n113,907.6 \n43,671.0 \n125,801.3 \n276,363.0 \n177,790.6 \n429,596.7 \n228,342.2 \n82,777.7 \n651,389.2 \n48,764.9 \n517,788.8 \n29,019.9 \n2,725,213.0 \nOCTOBER \n101,122.4 \n48,716.9 \n155,798.3 \n313,982.4 \n257,300.6 \n409,730.0 \n245,131.8 \n83,995.5 \n661,217.2 \n48,396.8 \n534,643.6 \n26,158.0 \n2,886,193.5 \nNOVEMBER \n104,695.1 \n53,233.8 \n151,359.5 \n348,390.4 \n185,802.5 \n464,782.4 \n269,513.8 \n85,906.9 \n962,840.9 \n47,647.2 \n548,847.7 \n23,130.6 \n3,246,150.7 \nDECEMBER \n96,098.4 \n50,492.7 \n126,343.5 \n379,068.0 \n198,323.3 \n509,241.6 \n280,975.4 \n95,457.1 \n582,286.2 \n41,852.2 \n538,135.2 \n26,491.3 \n2,924,764.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n91,648.8 \n48,329.1 \n128,426.0 \n351,566.7 \n212,401.7 \n494,823.6 \n252,389.7 \n93,470.0 \n658,260.1 \n44,091.4 \n512,289.8 \n32,145.9 \n2,919,842.6 \nFEBRUARY \n96,796.5 \n48,491.5 \n147,571.5 \n360,757.9 \n 147,995.9 \n 578,306.4 \n284,603.8 \n64,530.5 \n679,554.8 \n41,983.6 \n516,431.2 \n25,275.3 \n2,991.999.1 \nMARCH \n96,752.8 \n44,883.3 \n139,327.8 \n354,627.8 \n155,915.2 \n610,758.4 \n290,072.8 \n87,143.0 \n594,397.7 \n38,345.5 \n523,913.8 \n141,404.6 \n3,077,542.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAPRIL \n98,671.0 \n49,093.8 \n152,390.8 \n350,269.2 \n166,578.5 \n545,118.2 \n311,310.8 \n105,766.9 \n638,341.8 \n39,837.1 \n533,691.3 \n99,053.9 \n3,090,123.4 \nMAY \n114,053.3 \n55,427.4 \n142,023.3 \n389,384.7 \n255,352.1 \n484,429.7 \n318,129.4 \n92,777.2 \n700,668.7 \n46,593.8 \n578,509.2 \n32,297.7 \n3,209,646.5 \nJUNE \n116,635.2 \n58,578.8 \n147,313.8 \n447,394.5 \n183,146.3 \n352,600.3 \n366,824.2 \n96,685.8 \n701,195.7 \n46,578.5 \n597,373.1 \n104,843.6 \n3,219,169.8 \nJULY \n108,086.6 \n46,449.5 \n120,982.3 \n380,448.8 \n178,341.4 \n677,700.7 \n301,575.9 \n97,583.8 \n710,856.1 \n39,395.9 \n487,954.4 \n102,531.4 \n3,251,906.9 \nAUGUST \n137,107.1 \n48,726.1 \n135,788.5 \n319,106.0 \n174,593.9 \n637,190.7 \n333,255.3 \n99,194.1 \n639,401.6 \n41,996.5 \n417,762.6 \n93,772.1 \n3,077,894.4 \nSEPTEMBER \n100,028.3 \n57,039.8 \n145,652.5 \n380,781.4 \n207,379.2 \n612,131.5 \n408,359.1 \n103,872.8 \n795,047.6 \n46,982.9 \n435,912.4 \n90,265.8 \n3,383,453.4 \nOCTOBER \n94,346.3 \n52,722.4 \n141,401.4 \n338,625.9 \n223,223.8 \n754,145.4 \n339,305.6 \n99,583.3 \n754,116.1 \n41,527.2 \n440,197.9 \n97,771.1 \n3,376,966.4 \nNOVEMBER \n114,178.7 \n47,740.9 \n128,399.3 \n312,639.2 \n241,628.8 \n741,885.4 \n283,426.0 \n80,507.6 \n727,492.5 \n42,901.0 \n458,479.9 \n89,292.5 \n3,268,571.8 \nDECEMBER \n113,914.2 \n51,981.7 \n142,938.1 \n342,785.1 \n213,125.2 \n755,299.4 \n327,658.1 \n83,103.1 \n762,884.4 \n41,827.9 \n432,436.3 \n61,038.7 \n3,328,992.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n130,154.6 \n53,292.9 \n146,876.1 \n353,793.8 \n259,569.6 \n731,703.3 \n304,033.2 \n93,776.7 \n770,435.4 \n40,085.9 \n485,573.1 \n60,897.7 \n3,430,192.5 \nFEBRUARY \n138,812.3 \n55,092.2 \n134,813.9 \n420,181.0 \n262,183.8 \n786,295.6 \n270,062.5 \n131,134.8 \n779,640.3 \n39,169.2 \n508,813.7 \n61,822.3 \n3,588,021.6 \n19 \n TABLE 2.5 : SECTORAL ANALYSIS OF MERCHANT BANKS DEPOSITS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICUL-\nTURE \nCOMMUNICA-\nTIONS \nCONSTRUC-\nTION \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL MANUFACTUR-\nING \nMINING \nSERVICES \nTRANSPORT \nINDIVIDUALS \nCONGLOMER-\nATES \nTOTAL \nEND OF \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11,744.1 \n8,250.4 \n7.1 \n3,238.1 \n129,742.5 \n80,306.4 \n17,664.5 \n9,146.5 \n158,059.3 \n1,650.5 \n113,108.8 \n3,038.0 \n535,956.3 \nFEBRUARY \n14,684.8 \n5,815.5 \n6.8 \n23,523.2 \n131,181.2 \n95,143.4 \n21,911.4 \n22,184.5 \n131,968.5 \n1,350.6 \n149,680.8 \n3,038.0 \n600,488.7 \n MARCH \n 46,519.8 \n 5,039.7 \n1,662.6 \n4,119.3 \n127,903.5 \n 91,695.5 \n 17,886.8 \n 39,142.1 \n143,818.6 \n 4,669.7 \n 83,525.1 \n28,564.2 \n594,546.8 \nAPRIL \n24,233.2 \n8,046.5 \n1,868.8 \n27,036.4 \n121,160.1 \n109,064.2 \n36,456.3 \n30,240.9 \n151,505.2 \n4,892.5 \n75,547.7 \n29,200.4 \n619,252.1 \nMAY \n10,329.7 \n6,452.6 \n1,765.0 \n12,678.2 \n115,998.5 \n103,213.2 \n35,266.7 \n25,989.8 \n183,915.3 \n6,141.2 \n63,313.3 \n39,110.5 \n604,173.9 \nJUNE \n10,271.8 \n7,330.0 \n1,698.4 \n9,186.1 \n134,312.0 \n129,103.5 \n26,823.0 \n22,693.9 \n173,514.3 \n4,286.6 \n62,007.9 \n30,818.9 \n612,046.3 \nJULY \n4,473.9 \n5,298.2 \n270.1 \n27,217.9 \n132,809.8 \n98,744.9 \n30,365.9 \n21,415.7 \n217,331.4 \n2,077.4 \n57,143.0 \n33,601.7 \n630,749.9 \nAUGUST \n6,744.1 \n6,765.6 \n288.6 \n26,394.2 \n123,569.3 \n83,662.1 \n33,578.1 \n18,015.7 \n222,325.8 \n2,979.2 \n92,733.9 \n33,058.9 \n650,115.6 \nSEPTEMBER \n16,997.7 \n8,628.2 \n300.8 \n27,315.7 \n124,411.1 \n85,232.7 \n50,279.5 \n27,896.5 \n208,113.3 \n2,000.9 \n85,429.2 \n34,840.8 \n671,446.4 \nOCTOBER \n4,473.9 \n5,298.2 \n270.1 \n3,119.1 \n124,342.3 \n115,774.8 \n30,524.5 \n21,415.7 \n191,204.2 \n2,077.4 \n153,329.1 \n32,049.8 \n683,879.0 \nNOVEMBER \n12,872.8 \n10,868.0 \n13,414.5 \n1,649.6 \n174,107.7 \n60,405.7 \n18,484.7 \n35,828.3 \n188,441.9 \n4,251.7 \n203,879.7 \n27,745.0 \n751,949.6 \nDECEMBER \n12,164.3 \n5,900.3 \n14,197.9 \n3,080.8 \n173,009.4 \n60,501.2 \n17,631.4 \n137,537.4 \n198,977.5 \n2,664.8 \n79,504.3 \n32,534.7 \n737,703.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11,723.2 \n6,581.0 \n10,921.0 \n751.4 \n180,889.6 \n64,042.8 \n16,845.3 \n28,513.2 \n215,563.4 \n2,547.7 \n113,832.1 \n34,578.4 \n686,789.2 \nFEBRUARY \n10,020.1 \n7,034.4 \n11,383.1 \n1,419.4 \n196,108.5 \n51,751.6 \n16,973.1 \n28,365.1 \n187,610.2 \n6,432.7 \n70,211.6 \n34,798.8 \n622,108.3 \n MARCH \n58,914.7 \n8,588.1 \n7,605.8 \n1,590.7 \n142,308.7 \n90,728.3 \n28,015.0 \n25,273.9 \n185,705.5 \n1,965.0 \n164,230.8 \n29,295.2 \n744,221.5 \nAPRIL \n31,659.0 \n5,702.7 \n18,835.7 \n1,538.1 \n177,040.5 \n97,838.1 \n22,611.8 \n28,606.2 \n187,727.7 \n3,883.5 \n139,589.7 \n31,245.5 \n746,278.5 \nMAY \n17,827.5 \n5,756.6 \n18,786.2 \n1,258.9 \n187,857.9 \n99,688.5 \n19,315.6 \n44,794.2 \n197,568.8 \n3,436.3 \n132,325.5 \n31,463.1 \n760,079.2 \nJUNE \n4,255.3 \n6,236.6 \n10,753.7 \n1,131.2 \n156,052.6 \n105,613.0 \n18,935.8 \n59,790.7 \n184,390.9 \n3,652.3 \n107,354.6 \n30,017.1 \n688,183.8 \nJULY \n6,597.9 \n9,544.9 \n22,034.9 \n17,579.6 \n155,178.3 \n101,057.7 \n5,786.5 \n25,167.1 \n139,688.0 \n2,369.4 \n102,677.4 \n25,029.7 \n612,711.4 \nAUGUST \n1,770.3 \n9,723.1 \n17,643.5 \n1,553.8 \n150,874.9 \n71,592.0 \n19,054.2 \n10,779.0 \n169,881.2 \n2,644.4 \n113,074.5 \n29,546.0 \n598,137.0 \nSEPTEMBER \n40,766.9 \n9,757.2 \n17,595.4 \n10,209.6 \n157,646.1 \n87,504.2 \n20,864.5 \n12,486.3 \n173,696.6 \n1,527.2 \n125,919.4 \n29,482.7 \n687,456.0 \nOCTOBER \n43,179.4 \n7,366.8 \n2,258.4 \n11,060.8 \n118,559.1 \n159,315.4 \n45,674.2 \n11,973.6 \n164,560.7 \n744.6 \n98,580.9 \n29,513.7 \n692,787.6 \nNOVEMBER \n24,169.8 \n8,708.3 \n2,551.4 \n12,523.2 \n165,553.2 \n155,945.5 \n43,847.5 \n13,222.0 \n132,189.4 \n552.7 \n138,372.4 \n29,491.4 \n727,126.8 \nDECEMBER \n8,574.8 \n9,071.2 \n2,371.6 \n8,068.6 \n169,324.2 \n150,460.6 \n39,469.1 \n90,808.8 \n155,859.5 \n944.4 \n104,850.7 \n29,324.4 \n769,127.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n15,879.0 \n8,509.2 \n1,960.3 \n9,793.9 \n125,257.8 \n76,835.2 \n39,381.2 \n27,399.4 \n62,806.6 \n1,704.9 \n63,106.3 \n3,976.3 \n436,610.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nFEBRUARY \n14,501.9 \n7,870.0 \n1,650.8 \n11,407.6 \n119,069.4 \n60,798.1 \n39,576.4 \n31,886.5 \n57,670.9 \n894..0 \n93,028.3 \n3,768.6 \n441,228.5 \n20 \nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nEnd Period \n1999 \n2000 \n2001 \n2002 \n2003 \n2004 \n2005 \n2006 \n2007 \n2008 \n2009 \n2010 \n2011 \n2012 \n2013 \n(US$ millions) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLong-Term External Debt \n3,530 \n3,227 \n3,255 \n3,327 \n3,644 \n3,927 \n3,805 \n3,965 \n4,032 \n4,464 \n4,951 \n5,175 \n6,096 \n6,607 \n7,370 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nGovernment \n2,461 \n2,249 \n2,328 \n2,376 \n2,617 \n2,844 \n2,895 \n3,024 \n3,054 \n3,464 \n4,037 \n4,095 \n4,638 \n4,929 \n5,012 \nBilateral Creditors \n935 \n1,050 \n1,115 \n1,107 \n1,255 \n1,455 \n1,438 \n1,520 \n1,520 \n1,863 \n2,308 \n2,325 \n2,597 \n2,694 \n2,928 \nMultilateral Creditors \n1,235 \n1,199 \n1,213 \n1,269 \n1,362 \n1,389 \n1,457 \n1,504 \n1,524 \n1,592 \n1,729 \n1,770 \n2,041 \n2,235 \n2,084 \nPrivate Creditors \n291 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n10 \n10 \n0 \n0 \n0 \n0 \n0 \nPublic Enterprises \n543 \n534 \n568 \n616 \n698 \n714 \n709 \n766 \n790 \n825 \n857 \n938 \n1,092 \n1,198 \n1,356 \nBilateral Creditors \n316 \n301 \n315 \n351 \n403 \n442 \n439 \n464 \n474 \n497 \n453 \n238 \n711 \n703 \n858 \nMultilateral Creditors \n224 \n233 \n253 \n265 \n295 \n272 \n270 \n302 \n316 \n327 \n403 \n700 \n382 \n495 \n498 \nPrivate Creditors \n3 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \nMonetary Authorities \n364 \n292 \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n138 \n127 \n125 \n125 \nMultilateral Creditors - IMF \n364 \n292 \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n138 \n127 \n125 \n125 \nPrivate \n162 \n152 \n67 \n56 \n41 \n78 \n57 \n45 \n51 \n35 \n57 \n142 \n366 \n480 \n1,002 \nShort-Term External Debt \n532 \n298 \n167 \n183 \n169 \n144 \n173 \n281 \n387 \n226 \n1,198 \n1,382 \n1,289 \n890 \n1,564 \nSupplier's Credits \n150 \n42 \n13 \n26 \n51 \n69 \n107 \n122 \n178 \n41 \n193 \n286 \n134 \n30 \n0 \nReserve Bank \n \n \n \n \n \n \n \n \n \n \n642 \n642 \n618 \n614 \n614 \nPrivate \n382 \n256 \n154 \n157 \n118 \n75 \n66 \n159 \n209 \n185 \n363 \n454 \n537 \n246 \n950 \nTotal External Debt \n4,062 \n3,525 \n3,422 \n3,510 \n3,812 \n4,071 \n3,978 \n4,246 \n4,607 \n4,690 \n6,289 \n6,695 \n7,385 \n7,497 \n8,934 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nGross Domestic Product \n5,990 \n6,107 \n10,887 \n6,715 \n5,037 \n4,299 \n2,918 \n6,645 \n4,000 \n3,175 \n6,133 \n7,433 \n8,865 \n8,865 \n12,973 \nExternal Debt / GDP \n68% \n57.7% 31.4% 52.3% 75.7% 94.7% 136.3% \n63.9% \n110.5% 147.7% 102.5% \n90.1% \n83.3% \n84.6% 68.9% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nSOURCE: Ministry of \nFinance and Reserve Bank \nof Zimbabwe \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n21 \nTABLE 4.1 LENDING RATES (percent per annum)1 \n \nCommercial Banks \nMerchant Banks \n \n \n \n \nWeighted Average Lending \nRates3 \n \nWeighted Average Lending \nRates3 \n \n \nEnd Period \nNominal \nLending \nRates2 \nIndividuals \nCorporate \nNominal \nLending \nRates2 \nIndividuals \nCorporate \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \nJan \n10.00-35.00 \n15.58 \n10.81 \n13.00-25.00 \n17.96 \n14.42 \n \n \nFeb \n10.00-35.00 \n14.83 \n10.53 \n13.00-25.00 \n17.93 \n14.36 \n \n \nMar \n6.00-35.00 \n14.32 \n10.19 \n14.00-25.00 \n17.80 \n14.35 \n \n \nApr \n3.00-35.00 \n14.58 \n9.66 \n14.00-25.00 \n17.77 \n14.35 \n \n \nMay \n9.00-35.00 \n14.25 \n9.89 \n13.00-23.00 \n17.66 \n17.02 \n \n \nJun \n9.00-35.00 \n14.29 \n9.46 \n15.00-22.50 \n17.78 \n16.89 \n \n \nJul \n6.00-35.00 \n14.39 \n9.65 \n15.00-28.00 \n17.70 \n16.97 \n \n \nAug \n6.00-35.00 \n13.82 \n9.32 \n15.00-23.00 \n18.32 \n16.92 \n \n \nSep \n6.00-35.00 \n14.03 \n9.37 \n15.00-22.50 \n18.31 \n16.94 \n \n \nOct \n6.00-35.00 \n13.95 \n9.25 \n15.00-23.00 \n18.67 \n17.66 \n \n \nNov \n6.00-35.00 \n14.18 \n9.40 \n15.00-23.00 \n18.84 \n17.72 \n \n \nDec \n6.00-35.00 \n14.13 \n9.35 \n15.00-23.00 \n18.84 \n17.76 \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \nJan \n6.00-35.00 \n14.09 \n9.30 \n15.00-23.00 \n18.88 \n17.74 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNotes \n \n \n \n \n \n \n \n \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n \n2. Nominal Lending Rates depict the range of rates quoted by banks. \n3. Lending rates exclude rates on staff loans. \n \n \n \n \nFeb \n6.00-35.00 \n14.08 \n9.32 \n15.00-23.00 \n18.88 \n17.73 \n \n \n22 \nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)1 \n \n \n \n \n \n \n \n \n \nCOMMERCIAL BANKS \nACCEPTING HOUSES \n \n \n \n \n \n \n \n \nEND OF \nSAVINGS \n3 MONTHS \n3 MONTHS \n \n \n \n \n \n \n \n \n \n \n \n \n20122 \n \n \n \nJANUARY \n0.15-5.00 \n5.00-18.00 \n10.00-17.00 \nFEBRUARY \n0.15-5.00 \n5.00-18.00 \n10.00-17.00 \nMARCH \n0.01-12.00 \n5.00-20.00 \n7.00-17.00 \nAPRIL \n0.00-12.00 \n5.00-20.00 \n8.00-17.00 \nMAY \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nJUNE \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nJULY \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nAUGUST \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nSEPTEMBER \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nOCTOBER \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nNOVEMBER \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nDECEMBER \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \n \n \n \n \n2013 \n \n \n \nJANUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nFEBRUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nMARCH \n0.15-8.00 \n4.00-20.00 \n8.00-12.00 \nAPRIL \n0.15-8.00 \n4.00-20.00 \n8.00-12.00 \nMAY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nJUNE \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nJULY \n0.15-8.00 \n3.00-20.00 \n6.00-17.00 \nAUGUST \n0.15-8.00 \n3.00-20.00 \n6.00-17.00 \nSEPTEMBER \n0.15-8.00 \n3.00-20.00 \n11.00-12.00 \nOCTOBER \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nNOVEMBER \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \n \n \n \n \n \n \n \n \n1. \nThe range of rates qouted by banks during the period. \n2. \nThree (3) months deposit rates revised to exclude rates on inactive or dormant \naccounts. \n \n \nDECEMBER \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \n \n \n \n \n2014 \n \n \n \nJANUARY \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nFEBRUARY \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \n23 \nTABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1 \n( DECEMBER 2012 = 100) \n1. Source: ZIMSTATS. To reflect changing expenditure \npatterns, ZIMSTAT introduced a revised CPI basket and \nrebased CPI figures to December 2012=100. \n \nNON-FOOD INFLATION \nFOOD \nINFLA-\nTION \nALL \n \nALCO-\nHOLIC \nBEVER-\nAGES \nCLOTH-\nING \nHSING, \nWATER, \nFURNITURE \nHEALTH TRANSPORT \nCOMMUNI-\nCATION \nRECREATION & EDUCATION \nRESTAU-\nRANTS & \nMISC. \nTOTAL \nNON \nFOOD & \nITEMS \n \n& TO-\nBACCO \nFOOT-\nWEAR \nELEC-\nTRICTY, \nGAS \nAND \n \n \n \nCULTURE \n \nHOTELS \nGOODS & \nFOOD \nNON \nALCO-\nHOLIC \nBEVER-\nAGES \n \n \n \n \n& OTHER \nEQUIPMENT \n \n \n \n \n \nSERVICES \n \n \n \n \n \n \nFUELS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nWEIGHTS \n4.38 \n6.05 \n17.74 \n9.91 \n2.16 \n9.76 \n3.41 \n2.1 \n5.67 \n1.38 \n3.91 \n66.47 \n33.53 \n100 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJUNE \n0.17 \n-0.03 \n-0.01 \n-0.02 \n-0.05 \n-0.14 \n-0.33 \n0.12 \n0.00 \n-0.15 \n0.06 \n-0.03 \n-0.33 \n-0.13 \nJULY \n-0.16 \n0.11 \n-0.01 \n-0.20 \n-0.04 \n0.31 \n-0.04 \n-0.11 \n0.00 \n0.02 \n-0.04 \n0.00 \n-1.14 \n-0.38 \nAUGUST \n-0.42 \n-0.34 \n0.79 \n-0.27 \n0.29 \n0.07 \n-0.14 \n-0.10 \n1.23 \n0.97 \n-0.43 \n0.23 \n-0.90 \n-0.15 \nSEPTEMBER \n0.02 \n0.04 \n0.39 \n0.11 \n-0.22 \n0.15 \n-0.01 \n-0.07 \n0.01 \n0.19 \n0.42 \n0.17 \n-0.18 \n0.05 \nOCTOBER \n1.21 \n0.00 \n-0.01 \n-0.36 \n0.06 \n-0.32 \n-0.07 \n-0.15 \n0.02 \n-0.08 \n-0.20 \n-0.04 \n0.04 \n-0.01 \nNOVEMBER \n0.38 \n-0.19 \n-0.01 \n-0.37 \n0.10 \n-0.13 \n-0.01 \n-0.13 \n5.57 \n1.08 \n-0.27 \n0.43 \n-0.60 \n0.09 \nDECEMBER \n0.14 \n-0.01 \n0.37 \n-0.29 \n0.12 \n0.27 \n0.05 \n-0.22 \n0.00 \n0.00 \n-0.46 \n0.08 \n-0.41 \n-0.08 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n0.20 \n-0.07 \n0.00 \n0.01 \n-0.23 \n0.01 \n0.00 \n-0.07 \n0.02 \n0.16 \n-0.09 \n0.00 \n0.44 \n0.14 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nFEBRUARY \n-0.01 \n-0.09 \n-0.11 \n-0.08 \n0.09 \n0.08 \n0.00 \n-0.04 \n0.23 \n-0.08 \n0.07 \n-0.01 \n0.18 \n0.05 \n24 \nTABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1 \n(DECEMBER 2012 = 100) \n1. Source: ZIMSTATS. To reflect changing expenditure \npatterns, ZIMSTAT introduced a revised CPI basket and \nrebased CPI figures to December 2012=100. \n \nNON-FOOD INFLATION \nFOOD \nINFLATION \nALL \n \nALCO-\nHOLIC \nBEVER-\nAGES \nCLOTHING \nHSING, \nWATER, \nFURNI-\nTURE \nHEALTH \nTRANSPORT \nCOMMU-\nNICATION \nRECREA-\nTION & \nEDUCA-\nTION \nRESTAU-\nRANTS & \nMISC. \nTOTAL \nNON \nFOOD & \nITEMS \n \n& TO-\nBACCO \nFOOTWEAR \nELEC-\nTRICTY, GAS \nAND \n \n \n \nCULTURE \nHOTELS \nGOODS & \nFOOD \nNON ALCO-\nHOLIC \nBEVER-\nAGES \n \n \n \n \n& OTHER \nEQUIP-\nMENT \n \n \n \n \n \n \nSERVICES \n \n \n \n \n \nFUELS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nWEIGHTS \n4.38 \n6.05 \n17.74 \n9.91 \n2.16 \n9.76 \n3.41 \n2.1 \n5.67 \n1.38 \n3.91 \n66.47 \n33.53 \n100 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nMAY \n5.88 \n-0.38 \n3.95 \n0.66 \n3.60 \n6.85 \n-13.13 \n-0.83 \n12.56 \n1.44 \n1.04 \n1.54 \n3.54 \n2.20 \nJUNE \n5.40 \n-0.50 \n2.65 \n0.16 \n3.03 \n6.85 \n-13.40 \n-0.33 \n7.75 \n1.35 \n1.22 \n1.35 \n2.90 \n1.87 \nJULY \n4.83 \n0.14 \n2.54 \n-0.05 \n2.84 \n4.96 \n-13.47 \n-0.61 \n12.70 \n0.71 \n1.00 \n1.00 \n1.74 \n1.25 \nAUGUST \n4.44 \n0.30 \n3.04 \n-0.39 \n2.79 \n5.04 \n-13.57 \n-0.70 \n8.83 \n1.60 \n0.81 \n1.44 \n0.94 \n1.28 \nSEPTEMBER \n4.36 \n0.61 \n3.70 \n-0.37 \n2.10 \n5.06 \n-13.66 \n-1.01 \n5.74 \n1.23 \n0.93 \n1.45 \n-0.32 \n0.86 \nOCTOBER \n5.23 \n0.25 \n2.96 \n-0.70 \n2.21 \n1.40 \n-13.76 \n-0.73 \n9.05 \n0.83 \n-0.20 \n1.25 \n-0.74 \n0.59 \nNOVEMBER \n5.94 \n-0.07 \n3.51 \n-1.03 \n2.42 \n-7.04 \n-13.83 \n-0.92 \n11.19 \n2.06 \n-0.35 \n1.58 \n-1.51 \n0.54 \nDECEMBER \n4.26 \n0.09 \n3.63 \n-1.08 \n2.11 \n1.61 \n-13.99 \n-1.03 \n11.29 \n2.03 \n-0.87 \n1.61 \n-2.20 \n0.33 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n5.03 \n0.03 \n3.63 \n-1.07 \n1.87 \n1.62 \n-14.00 \n-1.12 \n11.30 \n2.18 \n-0.43 \n1.67 \n-2.08 \n0.41 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nFEBRUARY \n2.21 \n-0.43 \n3.09 \n-1.35 \n0.44 \n0.05 \n-13.86 \n-1.08 \n11.47 \n1.32 \n-1.45 \n0.93 \n-3.26 \n-0.49 \n25 \n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES \n \n \n \n \n \n \n \n \n \n \n \n \n \nSA \nBW \nJAPANESE \nEUROPEAN \nPOUND \nEND OF \nRAND/1 \nPULA/1 \nYEN/1 \nCURRENCY/2 \nSTERLING/2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \nJUNE \n8.38 \n7.77 \n79.42 \n1.25 \n1.56 \nJULY \n8.18 \n7.74 \n78.23 \n1.23 \n1.57 \nAUGUST \n8.45 \n7.80 \n78.47 \n1.25 \n1.58 \nSEPTEMBER \n8.23 \n7.65 \n77.50 \n1.29 \n1.63 \nOCTOBER \n8.64 \n7.88 \n79.78 \n1.30 \n1.61 \nNOVEMBER \n8.78 \n7.95 \n80.94 \n1.30 \n1.60 \nDECEMBER \n8.48 \n7.88 \n86.06 \n1.32 \n1.62 \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n9.03 \n8.05 \n90.90 \n1.36 \n1.58 \nFEBRUARY \n8.84 \n8.04 \n92.36 \n1.31 \n1.52 \nMARCH \n9.26 \n8.30 \n94.13 \n1.28 \n1.51 \nAPRIL \n8.98 \n8.10 \n97.76 \n1.31 \n1.55 \nMAY \n10.08 \n8.65 \n100.85 \n1.30 \n1.52 \nJUNE \n9.94 \n8.60 \n98.74 \n1.31 \n1.53 \nJULY \n9.83 \n8.49 \n98.31 \n1.33 \n1.53 \nAUGUST \n10.33 \n8.75 \n98.18 \n1.32 \n1.55 \nSEPTEMBER \n10.10 \n8.58 \n97.92 \n1.35 \n1.62 \nOCTOBER \n9.95 \n8.50 \n98.28 \n1.37 \n1.60 \nNOVEMBER \n10.19 \n8.64 \n102.33 \n1.36 \n1.64 \nDECEMBER \n10.43 \n8.72 \n105.02 \n1.38 \n1.65 \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11.21 \n9.09 \n102.47 \n1.35 \n1.65 \nFEBRUARY \n10.71 \n8.85 \n101.74 \n1.37 \n1.67 \n \n \n \n \n \n \n \n \n \n \n \n \n1. Foreign currency per US Dollar. \n \n \n \n \n2. US Dollar per unit of foreign currency. \n \n \n \n \n26 \nTABLE 7.1: COMMERCIAL BANKS - ASSETS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \nSecurities \n \n \nLoans & Contingent \nOther \nNon Financial \nTotal \nEnd of \nNotes \n \n \n \n \n \n \nTotal \nOther Balances Advances \nAssets \nAssets \nAssets \nAssets \n \n& \nBalances \nBalances \nBalances \n \n \n \n Liquid \nwith RBZ \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury Agric PEs \n Assets \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n323.4 \n378.5 \n103.4 \n182.3 \n247.8 \n0.0 \n0.0 \n1,235.5 \n52.2 \n2,694.9 \n386.1 \n205.7 \n386.7 \n4,961.1 \nFeb \n292.2 \n357.7 \n120.5 \n234.6 \n239.9 \n0.0 \n0.0 \n1,244.9 \n27.7 \n2,289.3 \n328.8 \n208.0 \n388.3 \n4,887.0 \nMar \n271.6 \n345.7 \n196.1 \n198.9 \n265.3 \n0.0 \n0.0 \n1,277.6 \n26.1 \n2,715.8 \n367.2 \n228.8 \n388.0 \n5,003.5 \nApr \n263.8 \n383.6 \n201.1 \n272.9 \n289.9 \n75.3 \n5.2 \n1,491.7 \n26.3 \n2,595.8 \n341.3 \n207.0 \n382.1 \n5,044.2 \n May \n250.9 \n400.9 \n198.2 \n296.7 \n253.5 \n75.4 \n5.3 \n1,480.8 \n25.8 \n2,673.2 \n389.8 \n208.0 \n382.9 \n5,160.5 \nJun \n227.2 \n416.4 \n171.9 \n257.5 \n271.8 \n75.5 \n5.3 \n1,425.8 \n26.0 \n2,698.3 \n364.1 \n217.8 \n384.6 \n5,116.5 \nJul \n266.5 \n352.8 \n164.2 \n266.1 \n263.8 \n110.2 \n6.4 \n1,429.9 \n26.5 \n2,701.3 \n337.1 \n229.8 \n387.0 \n5,111.7 \n Aug. \n322.8 \n277.9 \n136.4 \n242.5 \n237.8 \n61.1 \n6.4 \n1,285.0 \n26.2 \n2,813.0 \n367.0 \n218.3 \n385.2 \n5,094.7 \n Sep \n334.1 \n336.0 \n178.0 \n327.8 \n226.3 \n111.5 \n6.0 \n1,519.7 \n26.9 \n2773.3 \n298.8 \n234.7 \n386.4 \n5,239.8 \nOct \n379.4 \n387.5 \n137.1 \n219.7 \n260.9 \n99.4 \n5.0 \n1,489.0 \n17.3 \n2,809.1 \n316.7 \n257.3 \n371.5 \n5,260.9 \nNov \n333.3 \n312.7 \n160.2 \n197.1 \n261.1 \n108.6 \n6.5 \n1,379.5 \n26.6 \n2,789.7 \n291.3 \n235.4 \n369.8 \n5,092.3 \nDec \n 354.8 \n367.8 \n135.5 \n 287.3 \n199.9 \n118.0 \n6.6 \n1,469.9 \n28.4 \n2,799.5 \n490.8 \n259.5 \n347.6 \n5,395.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n356.9 \n395.3 \n134.1 \n253.1 \n153.0 \n119.2 \n5.4 \n1,417.0 \n27.9 \n2,866.4 \n516.1 \n362.2 \n353.9 \n5,543.5 \nFeb \n334.3 \n387.0 \n130.5 \n285.0 \n195 \n193.2 \n5.4 \n1,530 \n32.8 \n2,718.1 \n534.5 \n502.9 \n351.1 \n5,669.5 \n27 \nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nOf which \n \n \n \n \n \n \n \n \nand \nLiabilities Liabilities Liabilities Liabilities \nto the \nEnd of \nDemand \nSavings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther Banks Reserves \n \n \n \nPublic \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n2,032.2 \n866.1 \n552.4 \n3,450.7 \n266.1 \n0.0 \n27.8 \n623.9 \n386.1 \n206.5 \n4,961.1 \n3,450.7 \nFeb \n1,987.8 \n933.3 \n491.5 \n3,412.5 \n258.1 \n0.0 \n32.4 \n631.9 \n328.8 \n223.3 \n4,887.0 \n3,417.9 \nMar \n1,960.1 \n976.3 \n451.1 \n3,387.3 \n290.9 \n0.0 \n32.8 \n687.7 \n367.2 \n237.6 \n5,003.5 \n3,387.3 \nApr \n 2,074.5 \n1,046.3 \n379.5 \n3,500.3 \n 247.6 \n0.0 \n37.9 \n667.2 \n341.3 \n249.8 \n5,044.2 \n3,500.3 \nMay \n2,066.0 \n913.0 \n479.9 \n3,459.0 \n346.5 \n0.0 \n81.8 \n674.4 \n389.8 \n209.0 \n5,160.4 \n3,459.0 \nJun \n2,013.9 \n919.6 \n298.9 \n3,232.4 \n553.0 \n0.0 \n74.1 \n702.3 \n364.1 \n190.6 \n5,116.5 \n3,232.4 \nJul \n2,054.1 \n916.2 \n245.9 \n3,216.2 \n578.3 \n0.0 \n77.5 \n699.7 \n337.1 \n202.9 \n 5,111.7 \n3,216.2 \nAug \n2,017.4 \n879.5 \n253.2 \n3,150.1 \n608.2 \n0.0 \n63.8 \n694.9 \n367.0 \n210.8 \n5,094.7 \n3,150.1 \nSep \n2,082.1 \n899.3 \n294.5 \n3,275.8 \n674.6 \n0.0 \n 74.0 \n708.8 \n298.8 \n207.7 \n5,239.8 \n3,275.8 \nOct \n2,125.9 \n880.0 \n349.3 \n3,355.2 \n611.4 \n0.0 \n68.5 \n703.0 \n316.7 \n206.0 \n5,260.9 \n3,355.2 \nNov \n1,953.4 \n861.2 \n 371.6 \n3,186.2 \n627.8 \n0.0 \n75.8 \n689.7 \n291.3 \n221.6 \n5,092.3 \n3,186.2 \nDec \n 1,980.4 \n813.6 \n 517.1 \n3,311.1 \n614.0 \n0.0 \n65.0 \n730.9 \n490.8 \n 184.0 \n 5,395.7 \n3,311.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n2,153.6 \n802.7 \n403.5 \n3,359.8 \n661.3 \n0.0 \n55.9 \n592.9 \n516.1 \n357.5 \n5,543.5 \n3,359.8 \nFeb \n2,111.8 \n878.8 \n494.6 \n3,485.2 \n630.0 \n0.0 \n51.1 \n609.5 \n534.5 \n359.0 \n5,669.5 \n3,485.2 \n28 \nTABLE 8.1 : ACCEPTING HOUSES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLoans & Contingent \nOther \nNon Financial \nTotal \nEnd of \nNotes \n \n \n \n \n \nTotal \nOther \nBalances Advances \nAssets \nAssets \nAssets \nAssets \n \n& \nBalances Balances Balances \n \n \nLiquid \nwith RBZ \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury \n Assets \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nFeb \n4.7 \n1.5 \n18.4 \n0.0 \n4.5 \n0.0 \n26.9 \n0.0 \n245.7 \n34.8 \n63.9 \n28.9 \n398.2 \nMar \n2.5 \n1.1 \n7.3 \n-3.1 \n1.2 \n0.0 \n8.9 \n0.0 \n260.3 \n34.2 \n50.4 \n28.8 \n382.6 \nApr \n2.7 \n1.3 \n20.1 \n-1.9 \n1.2 \n0.0 \n23.4 \n0.0 \n254.9 \n34.2 \n51.7 \n27.7 \n392.0 \nMay \n2.4 \n4.1 \n18.6 \n-2.4 \n4.5 \n0.0 \n27.3 \n0.0 \n253.4 \n34.6 \n63.0 \n12.7 \n391.0 \nJun \n2.4 \n3.6 \n7.9 \n1.1 \n9.1 \n0.0 \n24.1 \n0.0 \n260.3 \n34.6 \n51.4 \n35.2 \n405.6 \nJul \n1.9 \n1.3 \n2.8 \n2.2 \n3.4 \n0.0 \n11.6 \n0.0 \n264.0 \n34.8 \n51.7 \n35.5 \n397.6 \nAug \n1.4 \n1.7 \n0.4 \n0.6 \n3.4 \n0.0 \n7.4 \n0.0 \n265.6 \n34.5 \n45.5 \n37.3 \n390.3 \nSep \n1.2 \n0.8 \n0.0 \n0.3 \n3.4 \n0.0 \n5.7 \n0.0 \n233.7 \n35.8 \n46.6 \n38.6 \n360.4 \nOct \n0.9 \n0.5 \n0.4 \n0.6 \n2.5 \n0.0 \n4.8 \n0.0 \n234.8 \n35.6 \n41.3 \n38.7 \n355.2 \nNov \n0.4 \n0.6 \n0.1 \n0.2 \n2.5 \n0.0 \n3.9 \n0.0 \n231.9 \n35.5 \n39.6 \n38.3 \n349.2 \nDec \n1.1 \n0.5 \n0.1 \n0.4 \n2.5 \n0.0 \n4.6 \n0.0 \n232.7 \n35.5 \n29.2 \n40.5 \n342.5 \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n0.1 \n0.5 \n0.0 \n0.2 \n1.8 \n0.0 \n2.6 \n0.0 \n81.3 \n10.0 \n23.5 \n34.7 \n152.1 \nFeb \n0.2 \n0.4 \n0.1 \n0.1 \n1.8 \n0.0 \n2.5 \n0.0 \n77.6 \n9.0 \n24.1 \n34.6 \n147.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n29 \nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nLiabilities to the \n \n \n \n \n \n \n \n \nand \nLiabilities \nLiabilities \nLiabilities \nPublic \nEnd of Demand Savings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther \nBanks \nReserves \n \n \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n106.9 \n91.7 \n21.3 \n220.0 \n44.8 \n0.0 \n2.7 \n-72.4 \n34.8 \n167.2 \n397.0 \n220.0 \nFeb \n102.8 \n66.0 \n55.7 \n224.5 \n45.3 \n0.0 \n2.7 \n-77.8 \n34.8 \n168.7 \n398.2 \n224.5 \nMar \n104.3 \n62.3 \n52.8 \n219.5 \n45.8 \n0.0 \n1.2 \n-97.3 \n34.2 \n179.3 \n382.6 \n219.5 \nApr \n107.3 64.6 \n56.3 \n228.3 \n 45.4 \n0.0 \n1.2 -98.1 \n34.2 \n 181.1 \n392.0 \n228.3 \nMay \n112.2 \n67.1 \n54.4 \n233.6 \n46.7 \n0.0 \n1.2 \n-99.4 \n34.6 \n174.3 \n391.0 \n233.6 \nJun \n114.6 \n56.2 \n52.3 \n223.1 \n46.7 \n0.0 \n1.2 \n-91.2 \n34.6 \n191.2 \n405.6 \n223.1 \nJul \n111.3 \n82.7 \n27.0 \n220.9 \n47.1 \n0.0 \n1.2 \n-94.1 \n34.8 \n187.8 \n397.6 \n220.9 \nAug \n109.5 \n80.6 \n 25.2 \n215.2 \n47.5 \n0.0 \n1.2 \n-101.7 \n34.5 \n 193.6 \n390.3 \n 215.2 \nSep \n111.2 \n82.6 \n19.0 \n212.8 \n47.9 \n0.0 \n1.2 \n-114.9 \n35.8 \n177.8 \n360.4 \n212.8 \nOct \n112.5 \n80.4 \n14.9 \n207.8 \n48.3 \n0.0 \n1.2 \n-114.3 \n35.6 \n176.7 \n355.2 \n207.8 \nNov \n122.6 \n59.7 \n20.0 \n202.3 \n48.2 \n0.0 \n1.2 \n-118.2 \n35.5 \n180.2 \n349.2 \n202.3 \nDec \n134.5 \n56.4 \n6.9 \n 197.8 \n48.9 \n0.0 \n1.2 \n-127.6 \n35.5 \n186.7 \n342.5 \n 197.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n36.8 \n57.7 \n5.7 \n100.1 \n11.7 \n0.0 \n0.0 \n0.7 \n10.0 \n29.6 \n152.1 \n100.1 \nFeb \n47.6 \n48.3 \n0.0 \n95.8 \n11.7 \n0.0 \n0.0 \n-10.9 \n9.0 \n42.3 \n147.9 \n95.8 \n30 \nTABLE 9.1 : BUILDING SOCIETIES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \nNotes \nBalances \nTrade \nTreasury \nTotal \nMortgage \nOther \nOther \nNon Finan-\ncial \nTotal \nEnd of \n& \nwith Other \nBills \nBills \nLiquid \nAdvances \nAdvances \nAssets \nAssets \n Assets \n \nCoin \nBanks \n \n \n Assets \n \n \n \n \n \n \nat Banks \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \nJan \n20.4 \n125.5 \n0.2 \n0.0 \n146.1 \n283.2 \n118.5 \n36.1 \n121.4 \n705.3 \nFeb \n20.2 \n164.3 \n0.0 \n0.0 \n84.5 \n291.8 \n117.9 \n35.3 \n121.4 \n734.2 \nMar \n18.8 \n129.1 \n0.2 \n20.0 \n168.1 \n291.4 \n116.9 \n39.5 \n121.4 \n737.3 \nApr \n16.9 \n159.8 \n0.2 \n20.2 \n197.2 \n294.8 \n115.5 \n39.5 \n122.1 \n769.1 \nMay \n30.2 \n179.6 \n0.2 \n20.3 \n230.0 \n307.3 \n120.3 \n40.4 \n121.9 \n820.0 \nJun \n28.6 \n178.8 \n0.0 \n20.0 \n227.3 \n314.2 \n122.4 \n44.6 \n121.8 \n830.3 \nJul \n26.1 \n207.4 \n0.0 \n20.0 \n253.5 \n312.4 \n123.1 \n48.6 \n121.6 \n859.2 \nAug \n34.7 \n204.1 \n0.0 \n20.0 \n258.8 \n320.6 \n123.0 \n46.4 \n124.1 \n872.9 \nSep \n36.4 \n204.9 \n0.0 \n20.0 \n261.3 \n353.4 \n122.7 \n52.2 \n124.6 \n914.2 \nOct \n39.3 \n186.8 \n0.0 \n20.0 \n246.1 \n358.4 \n128.2 \n51.8 \n122.4 \n906.9 \nNov \n39.7 \n163.1 \n0.0 \n40.0 \n242.8 \n361.6 \n135.8 \n43.6 \n122.9 \n906.7 \nDec \n34.8 \n158.8 \n0.0 \n40.0 \n233.6 \n381.5 \n127.7 \n55.2 \n123.0 \n920.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \nJan \n30.9 \n147.5 \n0.2 \n40.0 \n218.6 \n384.5 \n136.4 \n64.4 \n125.3 \n929.1 \nFeb \n30.2 \n165.0 \n0.2 \n40.0 \n235.3 \n385.8 \n132.0 \n65.4 \n125.4 \n943.9 \n31 \nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \nDeposits \nCapital \nOther \nTotal \nLiabilities to the \n \n \n \n \nand \nLiabilities \n Liabilities \nPublic \nEnd of \nSavings and \nShort-term \nLong-term \nTotal \nReserves \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n Jan \n201.3 \n94.2 \n295.5 \n127.3 \n95.7 \n518.5 \n295.5 \n Feb \n209.9 \n115.3 \n325.2 \n129.9 \n96.7 \n551.8 \n325.2 \n Mar \n182.1 \n152.2 \n334.3 \n129.6 \n76.7 \n540.7 \n334.3 \n Apr \n205.3 \n126.2 \n331.5 \n131.9 \n90.5 \n554.0 \n331.5 \n May \n242.1 \n93.4 \n335.5 \n136.3 \n70.4 \n564.0 \n335.5 \n Jun \n260.1 \n109.7 \n369.7 \n141.8 \n82.7 \n594.3 \n369.7 \n Jul \n233.2 \n156.1 \n389.3 \n145.7 \n79.3 \n614.3 \n389.3 \n Aug \n231.0 \n170.1 \n401.2 \n150.0 \n79..8 \n630.9 \n401.2 \n Sep \n247.3 \n172.8 \n420.0 \n153.1 \n80.0 \n653.0 \n420.0 \n Oct \n263.2 \n165.4 \n428.6 \n159.8 \n27.5 \n675.1 \n428.6 \n Nov \n246.8 \n179.5 \n426.3 \n165.5 \n28.2 \n694.3 \n426.3 \n Dec \n255.8 \n184.6 \n440.3 \n177.8 \n28.1 \n716.9 \n440.3 \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n Jan \n230.0 \n192.8 \n422.8 \n180.3 \n102.3 \n705.3 \n422.8 \n Feb \n255.7 \n194.2 \n449.9 \n183.7 \n100.6 \n734.2 \n449.9 \n Mar \n250.6 \n203.9 \n454.5 \n187.2 \n95.7 \n737.3 \n454.5 \n Apr \n252.9 \n226.6 \n479.5 \n190.6 \n22.3 \n769.3 \n479.5 \n May \n315.3 \n212.0 \n527.4 \n193.3 \n23.4 \n820.0 \n527.4 \n Jun \n309.0 \n222.6 \n531.6 \n198.3 \n100.4 \n830.3 \n531.6 \n Jul \n339.1 \n222.8 \n561.9 \n202.0 \n95.3 \n859.2 \n561.9 \n Aug \n298.4 \n270.1 \n568.4 \n206.3 \n98.2 \n872.9 \n568.4 \n \n \n \n \n \n \n \n \n Sep \n336.1 \n246.9 \n583.0 \n209.2 \n122.0 \n914.2 \n583.0 \n Oct \n310.9 \n264.9 \n575.8 \n212.0 \n119.4 \n907.2 \n575.8 \n Nov \n328.9 \n244.3 \n573.1 \n214.8 \n118.8 \n906.7 \n573.1 \n Dec \n370.3 \n197.3 \n567.6 \n219.6 \n133.9 \n921.0 \n567.6 \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \nJan \n313.9 \n253.1 \n567.0 \n225.9 \n136.2 \n929.1 \n567.0 \nFeb \n318.7 \n264.4 \n583.1 \n228.6 \n132.2 \n943.9 \n583.1 \n32 \nTable 10: ZIMBABWE STOCK MARKET STATISTICS \n \n \n \n \n \nIndices \nUS$ Millions \n \nIndustrial \nMining \nMarket Capitalisation \n \n \n \n \n2012 \n \n \n \n \n \n \n \nJun \n131.96 \n75.70 \n3,341.46 \nJul \n132.92 \n112.12 \n3,445.93 \nAug \n132.27 \n89.04 \n3,434.00 \nSep \n146.00 \n96.00 \n3,822.80 \nOct \n154.47 \n93.66 \n4,033,76 \nNov \n150.16 \n68.74 \n3,890.9 \nDec \n152.40 \n65.12 \n3,963.50 \n \n \n \n \n2013 \n \n \n \n \n \n \n \nJan \n179.34 \n84.07 \n4,700.33 \nFeb \n182.3 \n72.01 \n4,748.24 \nMar \n183.88 \n66.21 \n4,726.34 \nApr \n189.66 \n71.98 \n4,894.68 \nMay \n212.72 \n73.99 \n5,471.22 \nJun \n211.19 \n73.29 \n5,436.57 \nJul \n232.87 \n66.77 \n5,9136.78 \nAug \n181.67 \n48.73 \n4,682.27 \nSep \n200.05 \n49.90 \n5,157.20 \nOct \n209.74 \n52.68 \n5,407.42 \nNov \n213.04 \n47.02 \n5,482.03 \nDec \n202.12 \n45.79 \n5,203.13 \n \n \n \n \n \n \n \n \nSource: Zimbabwe Stock Exchange (ZSE) \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \nJan \n189.25 \n35.40 \n4,882.11 \nFeb \n189.45 \n39.24 \n4,906.94 \n33 \nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial \nMerchant \n \nBuilding \n \nEnd of \nBanks \nBanks \nOther/2 \nSocieties \nTOTAL \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,418.5 \n113.0 \n64.3 \n422.8 \n2,018.6 \nFebruary \n1,424.8 \n121.7 \n64.7 \n449.9 \n2,061.1 \nMarch \n1,427.3 \n115.2 \n66.7 \n454.5 \n2,063.6 \nApril \n1,425.8 \n121.0 \n63.9 \n479.5 \n2,090.1 \nMay \n1,393.0 \n121.5 \n66.2 \n527.4 \n2,108.0 \nJune \n1,218.4 \n108.6 \n70.6 \n531.6 \n1,929.2 \nJuly \n1,162.1 \n109.7 \n70.8 \n561.9 \n1,904.5 \nAugust \n1,132.7 \n105.8 \n70.4 \n568.4 \n1,877.2 \nSeptember \n1,193.8 \n101.6 \n69.8 \n583.0 \n1,948.2 \nOctober \n1,229.3 \n95.2 \n69.3 \n575.8 \n1,969.7 \nNovember \n1,232.8 \n79.7 \n73.4 \n573.1 \n1,959.0 \nDecember \n1,330.7 \n63.3 \n72.7 \n567.6 \n2,034.3 \n \n \n \n \n \n \n \n \n \n \n \n \n1/ Comprises all deposits other than demand deposits. \n2/ Includes People’s Own Savings Bank (POSB). \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,206.2 \n63.3 \n70.1 \n567.0 \n1,906.7 \nFebruary \n1,373.4 \n48.3 \n71.5 \n583.1 \n2,076.3 \n34 \nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial Banks \nAccepting Houses \n \n \n \n \n \n \n \n \nLiquid \nPrescribed \nExcess \nLiquid \nPrescribed \nExcess \n \nassets \nliquid \nliquid \nassets \nliquid \nLiquid \nEnd of \nheld \nassets/1 \nassets \nheld \nassets/1 \nassets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,235.5 \n1,035.2 \n200.3 \n36.2 \n66.0 \n-29.8 \nFebruary \n1,244.9 \n1,025.4 \n219.5 \n26.9 \n67.3 \n-40.4 \nMarch \n1,277.6 \n1,016.2 \n261.4 \n8.9 \n65.8 \n-57.0 \nApril \n1,491.7 \n1,050.1 \n441.6 \n23.4 \n68.5 \n-45.1 \nMay \n1,480.8 \n1,037.7 \n443.1 \n27.3 \n70.1 \n-42.8 \nJune \n1,425.8 \n969.7 \n456.0 \n24.1 \n66.9 \n-42.8 \nJuly \n1,429.9 \n964.9 \n465.1 \n11.6 \n66.3 \n-54.7 \nAugust \n1,285.0 \n945.0 \n340.0 \n7.4 \n64.6 \n-57.2 \nSeptember \n1,519.7 \n982.7 \n536.9 \n5.7 \n63.8 \n-58.1 \nOctober \n1,489.0 \n1,006.6 \n482.5 \n4.8 \n62.3 \n-57.5 \nNovember \n1,379.5 \n955.9 \n423.7 \n3.9 \n60.7 \n-56.8 \nDecember \n1,469.9 \n993.3 \n476.6 \n4.6 \n59.3 \n-54.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n1/ With effect from May 2012, the prescribed liquid asset ratio was reviewed to 30% of liabilities to the public. \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,417.0 \n1,007.9 \n409.0 \n2.6 \n30.0 \n-27.4 \nFebruary \n1,466.6 \n1,045.6 \n421.0 \n2.5 \n28.7 \n-26.2 \n35 \nTABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY \nValues of Transactions (US$ in millions) \nMONTH \nZETSS \nCHEQUE \nPOS \nATM \nMOBILE \n INTERNET \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \nJan \n3,563.84 \n5.24 \n80.72 \n173.71 \n115.53 \n89.67 \nFeb \n2,968.02 \n5.52 \n103.88 \n156.66 \n118.70 \n80.56 \nMar \n3,339.98 \n15.21 \n134.33 \n178.08 \n118.47 \n102.05 \nApr \n3,535.58 \n16.58 \n140.28 \n187.85 \n160.61 \n123.03 \nMay \n3,915.31 \n15.42 \n129.20 \n203.37 \n211.75 \n152.24 \nJun \n3,544.35 \n13.65 \n117.11 \n181.35 \n146.64 \n121.98 \nJul \n3,955.45 \n12.31 \n132.61 \n205.37 \n164.08 \n139.13 \nAug \n3,351.13 \n10.45 \n138.05 \n203.41 \n189.48 \n128.68 \nSep \n3,409.17 \n13.34 \n120.41 \n190.44 \n173.13 \n142.32 \nOct \n3,641.98 \n13.75 \n121.55 \n206.51 \n201.51 \n156.26 \nNov \n3,134.35 \n11.40 \n102.19 \n229.52 \n222.18 \n57.34 \nDec \n3,438.08 \n4.04 \n130.15 \n265.80 \n268.94 \n68.58 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAnnual Total \n41,797.24 \n136.91 \n1,450.48 \n2,382.07 \n2,091.02 \n1,361.84 \n \n \n \n \n \n \n \nJan \n3,093.01 \n5.24 \n102.26 \n233.10 \n228.25 \n68.31 \n2014 \n \n \n \n \n \n \nFeb \n2,954.93 \n10.73 \n96.27 \n193.90 \n217.14 \n64.42 \n36 \nTABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY \nVolumes of Transactions (in thousands) \nMONTH \nZETSS \nCHEQUE \nPOS \nATM \nMOBILE \n INTERNET \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \nJan \n181.68 \n21.18 \n761.09 \n691.18 \n6,950.84 \n47.53 \nFeb \n172.41 \n21.95 \n811.83 \n620.06 \n6,835.89 \n30.75 \nMar \n179.44 \n37.01 \n1,377.65 \n743.82 \n7,042.27 \n33.69 \nApr \n182.87 \n37.31 \n954.80 \n760.46 \n9,908.41 \n34.73 \nMay \n215.20 \n37.09 \n954.18 \n793.43 \n12,146.90 \n38.68 \nJun \n185.80 \n34.36 \n968.54 \n731.17 \n9,110.97 \n36.87 \nJul \n205.85 \n35.41 \n1,052.26 \n822.57 \n10,099.72 \n42.74 \nAug \n187.25 \n30.29 \n1,114.86 \n825.75 \n11,551.94 \n41.78 \nSep \n201.22 \n33.17 \n1,003.98 \n799.62 \n8,701.56 \n44.48 \nOct \n212.66 \n35.69 \n1,073.88 \n873.19 \n9,769.81 \n48.59 \nNov \n186.64 \n31.74 \n904.27 \n927.93 \n14,753.35 \n24.04 \nDec \n180.80 \n11.82 \n1,033.73 \n1,042.32 \n12,273.02 \n23.56 \n \n \n \n \n \n \n \nAnnual Total 2,291.82 367.02 12,011.07 \n 9,631.50 \n 119,144.68 447.44 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \nJan \n182.48 \n29.41 \n973.79 \n815.89 \n11,141.19 \n24.19 \nFeb \n175.09 \n32.95 \n991.91 \n799.12 \n10,631.60 \n25.10", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/February2014.pdf"}

dedup/cb_requests/11b2aeaa40941337a276b51d5fbb08de.json

@@ -0,0 +1 @@
+{"doc_id": "11b2aeaa40941337a276b51d5fbb08de", "text": "i \n \n \n \n \n \n \n \nJUNE 2017 \n \n \n1 \n \nTable of Contents \n \nSELECTED ECONOMIC INDICATORS ................................................................................. 2 \nINTERNATIONAL COMMODITY PRICE DEVELOPMENTS ........................................... 3 \nMERCHANDISE TRADE DEVELOPMENTS........................................................................ 4 \nMONETARY DEVELOPMENTS .............................................................................................. 6 \nSTOCK MARKET DEVELOPMENTS ..................................................................................... 8 \nINFLATION OUTTURN ............................................................................................................. 8 \nNATIONAL PAYMENTS SYSTEM .......................................................................................... 9 \n \n \n \n \n \n \n \n2 \n \n \n \n \n2017 \n \nMay \n2017 \n \nJune \nMonth-on- \nMonth \nChange \nZ.S.E. Mining Index1 \n69.63 \n69.79 \n0.23% \nZ.S.E. Industrial Index1 \n162.34 \n195.97 \n20.72% \nNational Payment System Transactions \n(US$ millions) \n8 430.11 \n8 743.97 \n3.72% \nMoney Supply (US$ millions)2 \n6 200.30 \n6 491.8 \n \nMoney Supply (M3) Annual Growth2 (%) \n23.24 \n26.91 \n \nYearly Inflation3 (%) \n0.75 \n0.31 \n \nMonthly Inflation3 (%) \n0.03 \n-0.24 \n \nNominal Lending Rate2 (% per annum) \n4.0-18.0 \n4.0-18.0 \n \nSources: \n1. Zimbabwe Stock Exchange (ZSE) \n2. Reserve Bank of Zimbabwe (RBZ) \n3. Zimbabwe National Statistics Agency (ZIMSTAT) \nSELECTED ECONOMIC INDICATORS \n \n \n \n3 \n \nINTERNATIONAL COMMODITY PRICE \nDEVELOPMENTS \n \n During the month of June 2017, the \ninternational \ncommodity \nprices \nof \ngold, \nplatinum and copper firmed, whilst nickel and \ncrude oil prices retreated. \n \nPrecious Metals \n \nGold prices increased by 1.2%, from a monthly \naverage of US$1,245.92/ounce in May 2017 to \nan average of US$ 1,260.57/ounce in June 2017. \nThis was on the back of political uncertainty in \nthe United Kingdom, which spurred the demand \nfor safe haven assets such as gold. In addition, \nuncertainty over the possibility of further U.S. \nFederal Reserve interest rate hikes in 2017, \nbolstered investment demand for precious \nmetals. \nPlatinum prices also firmed by 0.2%, to close \nthe month under review at an average of \nUS$931.48/ounce. Prices increased, supported \nby \nstrong \nindustrial \ndemand \nfrom \nthe \nautomobile sector, as users switched from \npalladium to platinum, which is a cheaper \nalternative. \nFigure 1: Precious metals prices \n \nSource: Bloomberg, 2017 \n \nBase Metals \n Copper prices increased by 1.5%, from \nUS$5,595.9/ton \nin \nMay \n2017 \nto \nUS$5,679.57/ton in June 2017. This was \nunderpinned by supply shortage concerns, \nfollowing major power outages at copper mines \nin Chile and Indonesia, the world’s largest \ncopper producers. \n Nickel prices, on the other hand, registered a \nmonthly \ndecline, \noccasioned \nby \nrising \nstockpiles, which ignited fears of an increase in \nglobal supply. Prices softened by 3.1%, to a \nmonthly average of US$8,889.32/ton, during \nthe month under analysis. \n \nBrent Crude Oil \nCrude oil prices retreated by 6.9%, from a \nmonthly average of US$51.12/barrel in May \n2017 to US$47.60/barrel in June 2017. Prices \ndeclined on renewed fears of a global glut, amid \nhigh global inventories particularly in the US, as \nshale oil production continued to offset OPEC’s \nefforts to cut global supplies. In addition, \ninvestor doubts about OPEC's ability to \nimplement agreed production cuts also weighed \ndown on oil prices, during the period under \nreview. \n \n \n \n \n \n \n800\n900\n1000\n1100\n1200\n1300\n1400\nMar-16\nApr-16\nMay-16\nJun-16\nJul-16\nAug-16\nSep-16\nOct-16\nNov-16\nDec-16\nJan-17\nFeb-17\nMar-17\nApr-17\nMay-17\nJun-17\nGold\nPlatinum\n \n \n \n4 \n \nFigure 2: International crude oil prices \nSource: Bloomberg, 2017 \nMERCHANDISE TRADE \nDEVELOPMENTS \n \nTotal merchandise trade for June 2017 stood at \nUS$699.2 million, representing a 1.5% increase \nfrom the US$689.2 million recorded in the \nprevious month. \n \nMerchandise Export Developments \nMerchandise \nexports \ndeclined \nby \n8.6%, \nfrom US$223.1 million realized in May 2017 to \nUS$204.0 million in June 2017. This followed \ndeclines of 50%; 49.4% and 16.1% in export \nearnings of ferrochrome, chrome ores and \nplatinum concentrates, respectively. \nGold, nickel, ferrochrome and flue-cured \ntobacco, were the country’s major export \ncommodities in June 2017, accounting for about \n68% of the total export revenues. \n \n \nFigure 3: Merchandise Exports (US$ m) \n \n \nSource: Zimstat, 2017 \n \nTable 1: Exports Classified by HS Code: \n Product \nMay-17 \nUS$m \nJune-17 \nUS$m \nShare of \ntotal \nExports \n(%) \n Gold \n77.4 \n73.2 \n35.9 \n Nickel ores and \nconcentrates \n32.0 \n27.7 \n13.6 \n Flue-cured \ntobacco \n14.6 \n22.4 \n11.0 \n Ferro-chrome \n30.3 \n15.2 \n7.4 \n Cane sugar \n10.1 \n10.0 \n4.9 \n Industrial \ndiamonds \n6.7 \n7.2 \n3.5 \n Unwrought \nplatinum \n5.0 \n4.2 \n2.1 \n Macadamia nuts \n2.9 \n3.2 \n1.6 \n Chromium ores \nand concentrates \n6.2 \n3.1 \n1.5 \n Granite \n2.7 \n2.9 \n1.4 \n Other \n35.2 \n34.9 \n17.1 \n Total Exports \n223.1 \n204.0 \n100.0 \nSource: Zimstat, 2017 & RBZ Calculations, 2017 \nDuring the month under analysis, the country’s \nmerchandise exports were mainly destined for \nSouth Africa, 67.1%; Mozambique, 16.0%, the \nUnited Arab Emirates, 6.6%; Belgium, 3.5%, \n20.00\n25.00\n30.00\n35.00\n40.00\n45.00\n50.00\n55.00\n60.00\nFeb-16\nMar-16\nApr-16\nMay-16\nJun-16\nJul-16\nAug-16\nSep-16\nOct-16\nNov-16\nDec-16\nJan-17\nFeb-17\nMar-17\nApr-17\nMay-17\nJun-17\n190\n195\n200\n205\n210\n215\n220\n225\nMay-17\nJun-17\n \n \n \n5 \n \nZambia, 3.1%; Botswana, 1.3%; Kenya, 0.9%; \nSingapore, 0.5%; Namibia, 0.3%; and the \nUnited States, 0.2%. \n \nSource: Zimstat, 2017 & RBZ Calculations, 2017 \nMerchandise Import Developments \nMerchandise imports increased by 6.2%, from \nUS$466.1 million in May 2017, to US$495.2 \nmillion in June 2017. This was, in large part, \nexplained by the increase in aviation fuel \nimports, from US$0.1 million in May 2017, to \nUS$27.6 million during the month under \nanalysis. \nThe main sources of the country’s imports were \nSouth Africa (38.2%); Singapore (27.2%); \nChina (11.2%); Zambia (2.7%); Japan (2.4) and \nMozambique (2.1%), during the month under \nanalysis, as shown in Figure 6. \n \n \nFigure 6: Major Merchandise Import \nSources (% Share) \nSource: Zimstat, 2017 & RBZ Calculations, 2017 \n \nMerchandise Trade Balance \nThe developments on merchandise trade \nresulted in a 19.8% deterioration in the trade \ndeficit, from US$242.9 million in May 2017 to \nUS$291.2 million in June 2017. \nFigure 7: Merchandise Exports, Imports and \nTrade Balance (US$m) \n \nSource: Zimstat, 2017 & RBZ Computations, 2017 \nSouth \nAfrica\n67.1%\nMozambique\n16.0%\nUAE\n6.6%\nBelgium\n3.5%\nZambia\n3.1%\nBotswana\n1.3%\nKenya\n0.9%\nSingapore\n0.5%\nNamibia\n0.3%\nUnited \nStates\n0.2%\nOther\n0.4%\nFigure 4:Major Merchandise \nExport Destinations\nSouth Africa\nSingapore\nChina\nZambia\nJapan\nMozambique\nMauritius\nUnited Arab Emirates\nMexico\n0%\n10%\n20%\n30%\n40%\n (400.0)\n (300.0)\n (200.0)\n (100.0)\n -\n 100.0\n 200.0\n 300.0\n 400.0\n 500.0\nJan-17\nFeb-17\nMar-17\nApr-17\nMay-17\nJun-17\nExports\nImports\nTrade balance\n \n \n \n6 \n \nMONETARY DEVELOPMENTS \n \nBroad money1 increased by 26.91%, on an \nannual basis, from US$5 115.0 million in June \n2016 to US$6 491.8 million in June 2017. The \ngrowth was reflective of annual increases of \n35.70% in transferable2 deposits. Partially \noffsetting the increase, were declines of 18.88% \nand 1.93% in negotiable certificates of deposits \n(NCDs)3 and time deposits4, respectively. \n \nOn a monthly basis, broad money recorded a \n4.70% growth, from US$6 200.3 million in May \n2017 to US$6 491.8 million in June 2017. \n \n \n \nSource: Reserve Bank of Zimbabwe, 2017 \n \n \n1 Beginning January 2017, broad money was redefined using \nIMF’s Monetary and Financial Statistics Manual of 2000. \nMajor changes include the exclusion of Government deposits \nheld by banks from broad money. \n \nBroad money consisted of transferable or \ntransitory deposits, 72.26%; time deposits, \n23.71%; currency in circulation, 3.02%; and \nnegotiable certificates of deposits, 1.01%. \n \nSource: Reserve Bank of Zimbabwe, 2017 \nThe year-on-year growth in domestic credit rose \nfrom 15.74% in June 2016, to 25.55% in June \n2017. This was on the back of a 48.14% \nexpansion in net credit to Government. Growth \nin net credit to government depicted the fiscus’ \ncontinued reliance on domestic borrowing to \nfinance budget deficits. \n \n2 Transferable deposits made up of demand and savings \ndeposits. \n3 NCDs are also referred to as securities included in broad \nmoney. \n4All classes of time deposits, short and long term are classified \nas time deposits, which are also termed other deposits. \n-5\n0\n5\n10\n15\n20\n25\n30\n -\n 1.0\n 2.0\n 3.0\n 4.0\n 5.0\n 6.0\n 7.0\n%\nUS$ BILLIONS\nFigure 9: Money Supply\nM3\nM3 Annual Growth rate\nTransferable \nDeposits\n72.26%\nOther \nDeposits \n(Time)\n23.71%\nNCDs\n1.01%\nBond \nNotes and \nCoins\n3.02%\nFigure 10: Composition of \nMoney Supply June\n2017\n \n \n \n7 \n \nAnnual credit to the private sector recorded an \nincrease of 3.26%, from US$3 411.7 million \nin June 2016 to US$3 522.8 million in June \n2017. Similarly, monthly credit to the private \nsector increased by 0.12%, from US$3 518.8 \nmillion in May 2017 to US$ 3 522.7 million in \nJune 2017. \n \nSource: Reserve Bank of Zimbabwe, 2017 \nOn a sectoral basis, private sector credit was \ndistributed as follows: households, 22.7%; \nagriculture, \n16.5%; \nservices, \n15.9%; \nmanufacturing, 13.1%; distribution, 11.9%; \nfinancial organisations and investments, 10.8%; \nmining, 4.8%; transport and communications, \n2.1%; construction, 1.7%; and other, 0.5%. \nDuring the month under review, private sector \ncredit was utilised as follows: inventory build-\nup, 31.1%; consumer durables, 15.2%; fixed \ncapital investment, 12.9%; and pre and post \nshipment financing, 1.2%. \nSTOCK MARKET DEVELOPMENTS \n \nThe Zimbabwe Stock exchange maintained a \npositive momentum during the month of June \n2017. Resultantly, industrial and mining indices \nincreased by 0.23% and 20.72% to 69.79 points \nand 195.97 points, respectively. This was partly \nattributable to the increased demand for equities \nas safe haven assets. \n \nSource: Zimbabwe Stock Exchange, 2017 \nThe month under review registered a notable \nnumber of block trades which saw 124 million \nZimre Property Investments (ZPI) shares; \n37.3 million Rainbow Tourism Group (RTG) \nshares, 32.2 million General Beltings Limited \nshares; and 23.7 million Econet Wireless shares \nexchanging hands at US$0.0135; US$0.01; \nUS$0.0011; \nand \nUS$0.355, \nrespectively. \nResultantly, both the turnover volume and value \nincreased by 82.14% and 136.17%, to 311.1 \nmillion \nshares \nand \nUS$39.7 \nmillion, \nrespectively. On a year - on - year basis, the \nHouseholds\n22.7%\nAgriculture, \n16.5%\nManufacturing, \n13.1%\nServices, \n15.9%\nDistribution, \n11.9%\nFinancial \nOrganisati\nons, \n10.8%\nMining, \n4.8%\nTransport and \nCommunication, \n2.1%\nConstruction, \n1.7%\nOther, 0.5%\nFigure 11: Sectoral distribution of \ncredit\n0\n20\n40\n60\n80\n100\n120\n140\n160\n180\n200\n27-May-16\n27-Jun-16\n27-Jul-16\n27-Aug-16\n27-Sep-16\n27-Oct-16\n27-Nov-16\n27-Dec-16\n27-Jan-17\n27-Feb-17\n27-Mar-17\n27-Apr-17\n27-May-17\n27-Jun-17\nFigure 7: ZSE Indices\nIndustrial\nMining\n \n \n \n8 \n \nvalue of shares traded registered a 120.03% \ngrowth. \nForeign \ninvestor \nparticipation, \nhowever, \ncontinued to decline, registering a net outflow of \nUS$4.43 million in June 2017, compared to \nUS$2.38 million in May 2017. \nINFLATION OUTTURN \n \nAnnual Inflation \n \nAnnual headline inflation decelerated to 0.31% \nin June 2017, from 0.75% in May 2017. This \nwas, in large part, explained by the decline in \nnon-food inflation. Annual non-food inflation \nreceded significantly to -0.37% in June 2017, \nfrom 0.21% in May 2017. Annual food inflation \nalso posted a lower increase of 1.82% in June \n2017, from 1.92% in May 2017, as a result of \nthe increase in the domestic supply of food, \nfollowing the good harvest. \n \n \nSource: ZIMSTAT, 2017 \nMonthly Inflation \n \nMonth-on-month inflation slowed down to \n-0.24% in June 2017, from 0.03% in May 2017. \nThe decline was driven by decreases in both \nfood and non-food inflation. \n \n \nSource: ZIMSTAT, 2017 \nMonthly food inflation fell to -0.45% in June \n2017, from 0.07% in May 2017, weighed down \nby declines in the prices of bread and cereals, \nmeat, fruit, vegetables, oils and fats, and milk, \ncheeses and eggs. Increases in the prices of non-\nalcoholic beverages, and fish and seafood, \nhowever, partially offset the declines. \n \nMonthly non-food inflation decelerated from \n0.01% in May 2017 to -0.14% in June 2017. \nThis was attributable to increases in housing, \nwater, electricity gas and other fuels; transport; \nand health. Partially offsetting the declines were \nincreases in recreation and culture and \nrestaurants and hotels. \nNATIONAL PAYMENTS SYSTEM \n \nThe total value of transactions processed \nthrough the National Payment System (NPS) \nincreased by 3.72%, from US$8 430.11 million \nin May 2017 to US$8 743.97 million in June \n2017. NPS transaction volumes also increased \n-5\n-4\n-3\n-2\n-1\n0\n1\n2\nFigure 12: Annual Inflation \n(%)\nHeadline Inflation\nFood\nNon Food\n-0.4\n-0.2\n0.0\n0.2\n0.4\n0.6\n0.8\nFigure 13: M-O-M Inflation\n \n \n \n9 \n \nby 9.76%, to 76 092 740 in June 2017 from \n69 324 793 in the previous month. \n \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \n \nThe value of transactions processed through the \nRTGS \nsystem \nincreased \nby \n7.5%, \nto \nUS$5.35 \nbillion \nin \nJune \n2017 \nfrom \nUS$4.97 billion recorded in May 2017. \nTransaction volumes, however, registered a 1% \ndecline, from 531 783 in May 2017 to 524 991 \nin June 2017. \nSource: Reserve Bank of Zimbabwe, 2017 \nCash transactions \nCash transactions declined by 30.6%, from \nUS$430.67 \nmillion \nin \nMay \n2017 \nto \nUS$298.98 million in June 2017. \nMobile and Internet Based Transactions \nThe total value of mobile and internet based \ntransactions closed the month of June 2017 at \nUS$1 595.83 million, up from US$1 558.64 \nmillion in May 2017. \nCard Based Transactions \nCard \nbased \ntransactions \ndecreased \nfrom \nUS$602.49 million recorded in May 2017, to \nUS$593.48 million in June 2017. \n \nCheque Transactions \nThe value of cheque transactions decreased by \n3.6%, to close the month of June 2017 at \nUS$6.28 million. \n \nRESERVE BANK OF ZIMBABWE \nJUNE 2017 \n -\n 1.0\n 2.0\n 3.0\n 4.0\n 5.0\n 6.0\n -\n 100\n 200\n 300\n 400\n 500\n 600\nVALUE IN US$ BILLIONS\nVOLUME IN THOUSANDS\nFigure 14: ZETSS Volumes and \nValues\nVolume\nValue\n \n \n10 \n \nStatistical Tables \n \nMonetary Statistics \n 1. Depository Corporations Survey \n \n \n \n13 \n 2. Central Bank Survey \n \n \n \n \n \n \n14 \n \n3. Other Depository Corporations Survey \n \n \n \n \n15 \n Other Depository Corporations \n \n4.1 Assets \n \n \n \n \n \n \n \n16 \n 4.2 Liabilities \n \n \n \n \n \n \n \n17 \n Commercial Banks \n 5.1 Assets \n \n \n \n \n18 \n 5.2 Liabilities \n \n \n \n19 \n Building Societies \n 6.1 Assets \n \n \n \n \n \n \n20 \n 6.2 Liabilities \n \n \n \n \n \n21 \n Sectoral Analysis of Bank Loans and Advances and Deposits \n \n7.1 Sectoral Analysis of Commercial Banks Loans and Advances \n22 \n \n7.2 Sectoral Analysis of Commercial Banks Deposits \n \n \n23 \n Interest Rates \n \n8.1 Lending Rates \n \n \n \n \n \n \n \n24 \n \n8.2 Banks Deposit Rates \n \n \n \n \n \n \n25 \n \n Inflation \n \n9.1 Monthly Inflation \n \n \n \n \n \n \n26 \n \n9.2 Yearly Inflation \n \n \n \n \n \n \n \n27 \n External Statistics \n \n10. Total External Debt Outstanding by Debtor \n \n \n \n28 \n 11. Exchange Rates \n \n \n \n \n \n \n \n29 \n \n \n \n \n11 \n \n12. Zimbabwe Stock Exchange Statistics \n \n \n \n \n 30 \n \n 13. National Payments System Statistics \n \n \n \n \n13.1 Values of Transactions \n \n \n \n \n 31 \n \n13.2 Volumes of Transactions \n \n \n \n \n 32 \n \n14. Merchandise Trade Statistics \n \n \n \n \n \n 33 \n \n \n \n \n \n \n \n \n \n \n 12 \n \n \n \n \nJun-16\nJul-16\nAug-16\nSep-16\nOct-16\nNov-16\nDec-16\nJan-17\nFeb-17\nMar-17\nApr-17\nMay-17\nJun-17\nNet Foreign Assets\n-502,899.96\n-393,113.03\n-371,494.66\n-365,714.85\n-564,842.79\n-636,688.80\n-555,620.67\n-584,011.92\n-574,374.12\n-559,959.05\n-513,244.32\n-567,873.40\n-574,972.81\nCentral Bank(net)\n-473,442.49\n-379,979.17\n-390,409.11\n-383,854.74\n-545,842.19\n-591,305.32\n-573,721.83\n-583,214.44\n-588,800.77\n-585,362.68\n-597,983.99\n-624,117.95\n-572,451.17\nForeign Assets\n393,393.91\n383,799.11\n354,937.59\n343,840.92\n416,996.33\n364,866.78\n410,827.76\n449,211.75\n445,565.06\n419,948.30\n406,334.53\n380,372.91\n414,622.73\nForeign Liabilities\n-866,836.39\n-763,778.28\n-745,346.70\n-727,695.66\n-962,838.52\n-956,172.09\n-984,549.60\n-1,032,426.19\n-1,034,365.82\n-1,005,310.99\n-1,004,318.51\n-1,004,490.86\n-987,073.90\nOther Depository Corporations(net)\n-29,457.47\n-13,133.86\n18,914.44\n18,139.89\n-19,000.60\n-45,383.48\n18,101.16\n-797.49\n14,426.64\n25,403.64\n84,739.67\n56,244.55\n-2,521.64\nForeign Assets\n278,419.49\n283,718.30\n309,754.41\n295,146.25\n278,185.36\n244,421.21\n297,836.79\n270,935.31\n290,763.66\n275,104.70\n338,839.86\n302,736.47\n260,090.51\nForeign Liabilities\n-307,876.96\n-296,852.16\n-290,839.97\n-277,006.36\n-297,185.96\n-289,804.69\n-279,735.63\n-271,732.80\n-276,337.02\n-249,701.07\n-254,100.19\n-246,491.92\n-262,612.14\nNet Domestic Assets (NDA)\n5,617,915.82\n5,457,438.42\n5,552,228.17\n5,642,801.47\n5,877,742.21\n6,056,699.56\n6,193,901.69\n6,247,448.43\n6,346,016.00\n6,439,892.69\n6,630,026.96\n6,768,155.75\n7,066,644.43\nDomestic Claims\n6,989,689.04\n6,895,453.88\n6,978,485.30\n7,059,099.99\n7,180,307.48\n7,554,069.08\n7,669,496.22\n7,645,349.84\n7,784,284.88\n7,922,221.15\n8,181,305.42\n8,453,437.89\n8,775,537.48\nClaims on Central Government(net)\n3,192,583.42\n3,134,575.48\n3,227,067.12\n3,299,875.31\n3,381,436.05\n3,679,166.52\n3,747,719.59\n3,862,282.83\n4,003,963.78\n4,034,942.83\n4,316,258.18\n4,466,829.20\n4,729,355.59\nClaims on Central Government\n3,305,953.61\n3,267,213.20\n3,373,077.05\n3,445,300.69\n3,516,314.57\n3,824,753.66\n3,908,493.46\n3,941,069.39\n4,084,363.34\n4,147,553.19\n4,414,769.52\n4,564,175.79\n4,843,590.52\nCentral Bank\n1,865,005.08\n1,790,569.21\n1,929,962.12\n1,954,616.32\n1,970,042.75\n2,306,454.54\n2,337,460.53\n2,270,648.89\n2,355,433.48\n2,337,736.94\n2,444,902.59\n2,578,541.58\n2,781,509.70\nODCs\n1,440,948.54\n1,476,643.99\n1,443,114.93\n1,490,684.38\n1,546,271.82\n1,518,299.12\n1,571,032.92\n1,670,420.50\n1,728,929.86\n1,809,816.25\n1,969,866.92\n1,985,634.21\n2,062,080.82\nLess Liabilities to Central Government\n-113,370.19\n-132,637.72\n-146,009.93\n-145,425.39\n-134,878.53\n-145,587.14\n-160,773.86\n-78,786.57\n-80,399.57\n-112,610.37\n-98,511.34\n-97,346.59\n-114,234.93\nClaims on Other Sectors\n3,797,105.62\n3,760,878.40\n3,751,418.18\n3,759,224.68\n3,798,871.43\n3,874,902.55\n3,921,776.63\n3,783,067.01\n3,780,321.10\n3,887,278.32\n3,865,047.24\n3,986,608.69\n4,046,181.88\nOther Financial Corporations\n122,525.52\n134,294.30\n130,939.44\n132,282.45\n124,852.98\n128,782.67\n119,157.29\n117,123.94\n79,035.53\n80,256.74\n82,515.74\n96,671.25\n150,004.30\nState and Local Government\n40,448.43\n48,803.79\n47,676.40\n43,554.41\n41,728.47\n37,784.82\n34,237.41\n35,909.11\n35,006.53\n34,312.18\n34,732.93\n36,595.52\n35,573.02\nPublic Non Financial Corporations\n222,439.82\n257,749.06\n257,736.50\n234,348.95\n248,965.26\n244,277.53\n240,007.21\n246,102.41\n274,898.12\n268,976.36\n302,761.14\n334,495.68\n337,668.92\nPrivate Sector\n3,411,691.85\n3,320,031.24\n3,315,065.84\n3,349,038.87\n3,383,324.72\n3,464,057.53\n3,528,374.72\n3,383,931.55\n3,391,380.92\n3,503,733.03\n3,445,037.42\n3,518,846.25\n3,522,935.65\nCentral Bank\n24,517.65\n29,223.55\n25,871.86\n28,360.51\n28,496.47\n28,190.50\n31,268.19\n28,547.39\n34,327.69\n34,209.32\n31,152.87\n32,571.62\n33,352.46\nODCs\n3,387,174.20\n3,290,807.69\n3,289,193.98\n3,320,678.35\n3,354,828.25\n3,435,867.03\n3,497,106.53\n3,355,384.15\n3,357,053.23\n3,469,523.72\n3,413,884.55\n3,486,274.63\n3,489,583.19\nOther Items(Net)\n1,371,773.23\n1,438,015.46\n1,426,257.14\n1,416,298.52\n1,302,565.27\n1,497,369.51\n1,475,594.53\n1,397,901.41\n1,438,268.87\n1,482,328.45\n1,551,278.46\n1,685,282.14\n1,708,893.05\nShares and Other Equity\n808,263.47\n832,720.12\n846,025.31\n887,795.24\n915,505.55\n935,291.08\n1,470,571.26\n1,471,378.30\n1,481,807.04\n1,505,125.81\n1,501,542.86\n1,530,318.89\n1,547,498.82\nLiabilities to Other Financial Corporations\n50,664.77\n49,419.92\n44,517.02\n39,463.26\n31,567.03\n32,045.66\n52,038.47\n44,373.98\n46,621.66\n45,153.65\n45,155.62\n45,511.27\n49,869.95\nRestricted Deposits\n151,173.32\n149,999.92\n149,845.80\n153,471.12\n166,495.73\n180,899.67\n60,499.79\n66,478.53\n66,737.97\n67,789.29\n68,133.12\n84,939.87\n84,617.96\nOther Items(net)\n361,671.67\n405,875.51\n385,869.01\n335,568.90\n188,996.96\n349,133.11\n-107,514.99\n-184,329.41\n-156,897.79\n-135,740.30\n-63,553.13\n24,512.12\n26,906.32\nBroad Money-M3\n5,115,015.85\n5,064,325.38\n5,180,733.50\n5,277,086.62\n5,312,899.41\n5,420,010.76\n5,638,281.02\n5,663,436.51\n5,771,641.88\n5,879,933.65\n6,116,782.64\n6,200,282.35\n6,491,671.62\nSecurities Other than Shares Included in Broad Mon\n80,952.14\n71,791.03\n80,840.29\n74,118.29\n73,356.67\n43,862.17\n62,894.35\n50,562.02\n59,329.24\n60,161.15\n63,292.20\n61,392.93\n65,667.46\nBroad Money-M2\n5,034,063.72\n4,992,534.36\n5,099,893.22\n5,202,968.33\n5,239,542.75\n5,376,148.60\n5,575,386.66\n5,612,874.49\n5,712,312.64\n5,819,772.50\n6,053,490.44\n6,138,889.42\n6,426,004.16\nOther Deposits\n1,569,208.72\n1,517,709.33\n1,553,347.70\n1,534,910.45\n1,508,943.19\n1,467,582.00\n1,471,657.19\n1,544,945.66\n1,552,644.56\n1,529,856.98\n1,530,705.58\n1,558,418.08\n1,538,865.52\nNarrow Money-M1\n3,464,854.99\n3,474,825.02\n3,546,545.52\n3,668,057.88\n3,730,599.56\n3,908,566.59\n4,103,729.48\n4,067,928.83\n4,159,668.08\n4,289,915.52\n4,522,784.87\n4,580,471.34\n4,887,138.64\nTransferable Deposits\n3,456,750.65\n3,466,614.21\n3,537,772.31\n3,658,634.63\n3,720,917.62\n3,889,717.47\n4,033,558.66\n3,985,443.09\n4,046,287.46\n4,147,742.43\n4,369,406.07\n4,404,701.40\n4,690,977.34\nCurrency Outside Depository Corporations\n8,104.35\n8,210.82\n8,773.21\n9,423.25\n9,681.93\n18,849.12\n70,170.81\n82,485.74\n113,380.62\n142,173.09\n153,378.80\n175,769.94\n196,161.30\nNote:\n(i) Depository corporations survey - formerly Monetary Survey.\n(ii) Broad money redefined using IMF's Monetary and Financial Statistics Manual of 2000. Major changes include exclusion of Government deposits held by banks from broad money.\n(iii) Transferable deposits made up of demand and savings deposits.\n(iv) NCDs are also referred to as securities included in broad money.\n(v) All classes of time deposits, short and long term are classified as time deposits, which are also termed other deposits.\n(vi) Credit to the private sector now excludes claims on other financial corporations, as well as claims on state and local government (local authorities)\n(vii) Depository corporations made up of the Central Bank and other depository corporations\n(viii) Other depository corporations (ODCs) - Commercial banks, merchant banks, building societies and POSB.\nTABLE 1: DEPOSITORY CORPORATIONS SURVEY (US$ '000)\n \n \n \n13 \n \n \nJun-16\nJul-16\nAug-16\nSep-16\nOct-16\nNov-16\nDec-16 \nJan-17\nFeb-17\nMar-17\nApr-17\nMay-17\nJun-17\nNet Foreign Assets\n-473,442.49\n-379,979.17\n-390,409.11\n-383,854.74\n-545,842.19\n-591,305.32\n-573,721.83\n-583,214.44\n-588,800.77\n-585,362.68\n-597,983.99\n-624,117.95\n-572,451.17\nClaims on Non Residents\n393,393.91\n383,799.11\n354,937.59\n343,840.92\n416,996.33\n364,866.78\n410,827.76\n449,211.75\n445,565.06\n419,948.30\n406,334.53\n380,372.91\n414,622.73\nOfficial Reserves Assets\n293,946.47\n285,543.05\n255,805.98\n244,677.43\n316,461.39\n266,511.75\n309,331.78\n350,427.48\n346,696.05\n320,526.53\n306,195.43\n280,743.61\n311,434.24\nOther Foreign Assets\n99,447.43\n98,256.06\n99,131.61\n99,163.49\n100,534.95\n98,355.02\n101,495.99\n98,784.27\n98,869.01\n99,421.78\n100,139.10\n99,629.30\n103,188.49\nLess Liabilities to Non Residents\n866,836.39\n763,778.28\n745,346.70\n727,695.66\n962,838.52\n956,172.09\n984,549.60\n1,032,426.19\n1,034,365.82\n1,005,310.99\n1,004,318.51\n1,004,490.86\n987,073.90\nShort Term Liabilities\n450,321.22\n349,757.38\n351,510.63\n331,152.07\n482,116.69\n481,842.04\n515,365.90\n558,302.10\n560,678.78\n528,171.18\n523,978.67\n523,548.11\n502,610.47\nOther Foreign Liabilities\n416,515.17\n414,020.90\n393,836.06\n396,543.59\n480,721.84\n474,330.06\n469,183.69\n474,124.08\n473,687.04\n477,139.81\n480,339.84\n480,942.76\n484,463.43\nNet Domestic Assets (NDA)\n1,483,098.69\n1,431,538.49\n1,528,966.57\n1,582,075.13\n1,651,349.30\n1,910,944.27\n2,046,457.01\n2,082,987.44\n2,193,388.18\n2,189,787.86\n2,257,730.24\n2,349,466.00\n2,521,330.28\nDomestic Claims\n1,937,013.69\n1,909,144.81\n2,028,462.52\n2,036,657.48\n2,070,285.42\n2,396,766.46\n2,420,011.99\n2,449,800.81\n2,551,097.25\n2,545,403.08\n2,683,243.81\n2,852,123.09\n3,029,056.93\nNet Claims on Central Government\n1,777,241.09\n1,708,832.27\n1,830,889.20\n1,852,931.02\n1,878,215.64\n2,207,020.45\n2,218,852.08\n2,244,839.79\n2,330,293.56\n2,312,027.68\n2,422,539.02\n2,556,298.97\n2,740,989.57\nClaims on Central Government\n1,865,005.08\n1,790,569.21\n1,929,962.12\n1,954,616.32\n1,970,042.75\n2,306,454.54\n2,337,460.53\n2,270,562.63\n2,355,433.48\n2,337,736.94\n2,444,816.34\n2,578,541.58\n2,781,509.70\nOf which: Securities Other than Shares\n283,077.80\n279,010.40\n283,933.50\n260,822.30\n259,945.20\n250,270.16\n566,328.08\n577,431.69\n562,535.65\n551,741.20\n533,407.34\n537,150.63\n620,541.15\nLess Liabilities to Central Government\n87,763.98\n81,736.94\n99,072.93\n101,685.30\n91,827.11\n99,434.09\n118,608.45\n25,722.84\n25,139.92\n25,709.26\n22,277.32\n22,242.61\n338,860.92\nOf which: Deposits\n87,763.98\n81,736.94\n99,072.93\n101,685.30\n91,827.11\n99,434.09\n118,608.45\n25,722.84\n25,139.92\n25,709.26\n22,277.32\n22,242.61\n40,520.14\nClaims on Other Sectors\n159,772.59\n200,312.54\n197,573.32\n183,726.46\n192,069.78\n189,746.01\n201,159.91\n206,874.76\n243,242.69\n235,375.40\n262,618.54\n297,824.11\n290,067.36\nOther Financial Corporations\n11,717.92\n14,072.39\n14,485.45\n14,842.27\n18,107.69\n18,890.01\n16,515.86\n16,900.44\n18,434.72\n18,570.34\n18,972.27\n19,413.25\n17,924.43\nState and Local Government\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\nPublic Non Financial Corporations\n123,537.02\n157,016.59\n157,216.02\n140,523.67\n145,465.62\n142,665.50\n153,375.86\n161,426.93\n190,480.28\n182,595.75\n212,493.40\n245,839.24\n238,790.47\nPrivate Sector\n24,517.65\n29,223.55\n25,871.86\n28,360.51\n28,496.47\n28,190.50\n31,268.19\n28,547.39\n34,327.69\n34,209.32\n31,152.87\n32,571.62\n33,352.46\nClaims on Other Depository Corporations\n223,418.95\n224,948.10\n203,523.49\n199,637.85\n145,431.17\n164,922.74\n140,331.70\n110,720.51\n93,514.18\n104,865.33\n85,479.27\n50,810.90\n52,540.42\nOther Liabilities to ODCs\n273,601.27\n276,345.66\n277,697.37\n277,611.11\n278,881.87\n280,278.62\n268,568.70\n269,925.53\n255,446.41\n242,394.50\n294,200.81\n305,898.38\n307,589.96\nOther Items(Net)\n403,732.68\n426,208.76\n425,322.07\n376,609.09\n285,485.42\n370,466.32\n245,317.99\n209,608.36\n218,215.84\n220,086.04\n218,792.03\n249,569.60\n254,677.12\nMonetary Base Incl. foreign currency clearing \nbalances\nMonetary Base \n1,009,656.202 1,051,559.320 1,138,557.468 1,198,220.393 1,105,507.110 1,319,638.956 1,472,735.173 1,499,773.004 1,604,587.411 1,604,425.179 1,659,746.254 1,725,348.049 1,948,879.104\nBond Coins\n9,719.251\n9,831.185\n10,353.400\n11,050.358\n11,102.753\n13,404.374\n13,783.332\n13,852.694\n13,845.125\n20,385.149\n23,268.864\n25,819.605\n27,667.474\nBond Notes\n0.000\n0.000\n0.000\n0.000\n0.000\n10,009.774\n72,950.552\n88,839.102\n118,836.703\n134,347.604\n140,801.342\n163,388.941\n175,855.752\nLiabilities to ODCs\n996,320.429 1,032,687.846 1,123,924.446 1,183,078.547 1,093,687.178 1,292,654.095 1,385,011.220 1,395,502.072 1,467,941.594 1,446,635.592 1,492,786.162 1,520,837.740 1,728,301.189\nReserve Deposits\n0.000\n0.000\n0.000\n0.000\n0.000\n0.000\n0.000\n0.000\n0.000\n0.000\n0.000\n0.000\n0.000\nOther\n996,320.429 1,032,687.846 1,123,924.446 1,183,078.547 1,093,687.178 1,292,654.095 1,385,011.220 1,395,502.072 1,467,941.594 1,446,635.592 1,492,786.162 1,520,837.740 1,728,301.189\nPrivate Deposits\n3,616.522\n9,040.289\n4,279.622\n4,091.489\n717.178\n3,570.712\n990.069\n1,579.135\n3,963.989\n3,056.833\n2,889.886\n15,301.762\n17,054.689\nSource: Reserve Bank of Zimbawe\nTABLE 2: CENTRAL BANK SURVEY (US$'000)\n \n \n \n14 \n \n \n \nJun-16\nJul-16\nAug-16\nSep-16\nOct-16\nNov-16\nDec-16\nJan-17\nFeb-17\nMar-17\nApr-17\nMay-17\nJun-17\nNet Foreign Assets\n-29,457.47\n-13,133.86\n18,914.44\n18,139.89\n-19,000.60\n-45,383.48\n18,101.16\n-797.49\n14,426.64\n25,403.64\n84,739.67\n56,244.55\n-2,521.64\nClaims on Non Residents\n278,419.49\n283,718.30\n309,754.41\n295,146.25\n278,185.36\n244,421.21\n297,836.79\n270,935.31\n290,763.66\n275,104.70\n338,839.86\n302,736.47\n260,090.51\nOf Which: Foreign Currency\n124,614.66\n111,032.19\n148,463.11\n96,321.10\n88,598.31\n76,252.73\n107,687.14\n110,979.79\n96,836.03\n66,426.17\n67,822.05\n56,944.26\n57,084.55\nDeposits\n153,552.10\n172,433.28\n161,037.37\n198,569.69\n189,337.46\n167,926.29\n189,886.91\n159,688.03\n193,663.57\n208,412.27\n270,746.20\n245,512.83\n202,703.19\nOther\n252.73\n252.83\n253.93\n255.46\n249.59\n242.19\n262.74\n267.49\n264.07\n266.26\n271.61\n279.38\n302.77\nLess Liabilities to Non Residents\n307,876.96\n296,852.16\n290,839.97\n277,006.36\n297,185.96\n289,804.69\n279,735.63\n271,732.80\n276,337.02\n249,701.07\n254,100.19\n246,491.92\n262,612.14\nOf Which: Deposits\n152,069.73\n150,944.72\n146,501.12\n142,949.55\n146,422.62\n136,426.63\n142,073.73\n137,945.79\n135,779.65\n117,026.45\n126,179.95\n120,578.30\n119,073.63\nLoans\n155,807.23\n145,907.44\n144,338.85\n134,056.82\n150,763.34\n153,378.06\n137,661.90\n133,787.01\n140,557.37\n132,674.61\n127,920.24\n125,913.62\n143,538.51\nOther\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\n0.00\nNet Domestic Assets (NDA)\n5,132,752.46\n \n5,060,208.14\n \n5,148,766.23\n \n5,245,432.00\n \n5,321,500.90\n \n5,442,974.41\n \n5,549,018.98\n \n5,580,169.12\n \n5,639,870.63\n \n5,709,300.08\n \n5,875,774.29\n \n5,952,966.10\n \n6,280,977.27\n \nDomestic Claims\n5,052,675.36\n \n4,986,309.07\n \n4,950,022.79\n \n5,022,442.51\n \n5,110,022.06\n \n5,157,302.61\n \n5,249,484.24\n \n5,193,549.03\n \n5,210,748.62\n \n5,374,818.07\n \n5,496,061.61\n \n5,599,314.81\n \n5,744,480.55\n \nNet Claims on Central Government\n1,415,342.33\n \n1,425,743.21\n \n1,396,177.93\n \n1,446,944.29\n \n1,503,220.41\n \n1,472,146.07\n \n1,528,867.51\n \n1,617,356.78\n \n1,673,670.22\n \n1,722,915.15\n \n1,893,632.91\n \n1,910,530.23\n \n1,988,366.03\n \nClaims on Central Government\n1,440,948.5355\n \n1,476,643.9874\n \n1,443,114.9290\n \n1,490,684.3763\n \n1,546,271.8214\n \n1,518,299.1187\n \n1,571,032.9250\n \n1,670,420.5050\n \n1,728,929.8577\n \n1,809,816.2513\n \n1,969,866.9249\n \n1,985,634.2076\n \n2,062,080.8211\n \nSecurities\n1,412,869.1273\n \n1,450,083.5207\n \n1,420,220.1988\n \n1,463,404.5297\n \n1,517,535.6764\n \n1,500,671.4257\n \n1,553,239.1020\n \n1,654,534.6290\n \n1,713,961.3077\n \n1,794,113.0553\n \n1,954,045.2049\n \n1,968,887.3446\n \n2,014,158.1741\n \nLoans\n28,079.4082\n \n26,560.4666\n \n22,894.7303\n \n27,279.8466\n \n28,736.1450\n \n17,627.6930\n \n17,793.8230\n \n15,885.8760\n \n14,968.5500\n \n15,703.1960\n \n15,821.7200\n \n16,746.8630\n \n47,922.6470\n \nOther \n-\n \n-\n \n-\n \n(0.0000)\n \n-\n \n(0.0000)\n \n0.0000\n \n(0.0000)\n \n0.0000\n \n-\n \n(0.00)\n \n(0.00)\n \n(0.00)\n \nLess Liabilities to Central Government\n(25,606.2057)\n \n(50,900.7775)\n \n(46,937.0009)\n \n(43,740.0913)\n \n(43,051.4118)\n \n(46,153.0502)\n \n(42,165.4109)\n \n(53,063.7244)\n \n(55,259.6416)\n \n(86,901.1009)\n \n(76,234.0149)\n \n(75,103.9806)\n \n(73,714.7955)\n \nClaims on Other Sectors\n3,637,333.0280\n \n3,560,565.8611\n \n3,553,844.8587\n \n3,575,498.2216\n \n3,606,801.6478\n \n3,685,156.5434\n \n3,720,616.7211\n \n3,576,192.2507\n \n3,537,078.4083\n \n3,651,902.92\n \n3,602,428.70\n \n3,688,784.58\n \n3,756,114.52\n \nOther Financial Corporations\n110,807.60\n \n120,221.91\n \n116,453.99\n \n117,440.18\n \n106,745.29\n \n109,892.67\n \n102,641.44\n \n100,223.50\n \n60,600.81\n \n61,686.40\n \n63,543.47\n \n77,258.00\n \n132,079.86\n \nState and Local Government\n40,448.43\n \n48,803.79\n \n47,676.40\n \n43,554.41\n \n41,728.47\n \n37,784.82\n \n34,237.41\n \n35,909.11\n \n35,006.53\n \n34,312.18\n \n34,732.93\n \n36,595.52\n \n35,573.02\n \nPublic Non Financial Corporations\n98,902.80\n \n100,732.47\n \n100,520.49\n \n93,825.28\n \n103,499.64\n \n101,612.03\n \n86,631.35\n \n84,675.48\n \n84,417.84\n \n86,380.62\n \n90,267.74\n \n88,656.44\n \n98,878.45\n \nPrivate Sector\n3,387,174.20\n \n3,290,807.69\n \n3,289,193.98\n \n3,320,678.35\n \n3,354,828.25\n \n3,435,867.03\n \n3,497,106.53\n \n3,355,384.15\n \n3,357,053.23\n \n3,469,523.72\n \n3,413,884.55\n \n3,486,274.63\n \n3,489,583.19\n \nClaims on the Central Bank\n1,017,467.818\n \n1,055,340.530\n \n1,178,684.455\n \n1,209,909.110\n \n1,156,606.119\n \n1,323,120.314\n \n1,435,556.219\n \n1,475,197.651\n \n1,507,778.322\n \n1,498,477.568\n \n1,505,940.672\n \n1,505,814.461\n \n1,682,269.779\n \nBond Notes and Coins\n1,614.904\n \n1,620.368\n \n1,580.191\n \n1,627.106\n \n1,420.818\n \n4,565.027\n \n16,563.071\n \n20,206.055\n \n19,301.209\n \n12,559.660\n \n10,691.409\n \n13,438.609\n \n7,361.926\n \nReserves\n1,015,852.915\n \n1,053,720.162\n \n1,177,104.264\n \n1,208,282.003\n \n1,155,185.301\n \n1,318,555.287\n \n1,418,993.147\n \n1,454,991.597\n \n1,488,477.113\n \n1,485,917.908\n \n1,495,249.263\n \n1,492,375.852\n \n1,674,907.853\n \nLiabilities to the Central Bank\n0.691\n2.585\n0.242\n0.723\n0.106\n0.219\n1750.127\n0.244\n1.8\n1752.651\n3.143\n0.771\n0.694\nOther Items(Net)\n937,390.03\n \n981,438.87\n \n979,940.77\n \n986,918.90\n \n945,127.17\n \n1,037,448.30\n \n1,134,271.35\n \n1,088,577.32\n \n1,078,654.52\n \n1,162,242.90\n \n1,126,224.85\n \n1,152,162.40\n \n1,145,772.36\n \nShares and Other Equity\n1,160,998.70\n \n1,174,877.57\n \n1,188,635.39\n \n1,194,352.25\n \n1,211,644.10\n \n1,228,902.77\n \n1,271,826.05\n \n1,272,987.21\n \n1,279,285.69\n \n1,301,867.36\n \n1,295,023.50\n \n1,310,286.87\n \n1,325,276.01\n \nLiabilities to other financial corporations\n47,396.74\n \n46,151.88\n \n41,248.99\n \n36,195.23\n \n28,299.00\n \n28,777.63\n \n48,770.44\n \n41,105.95\n \n43,353.63\n \n41,885.62\n \n41,887.59\n \n42,243.24\n \n46,601.91\n \nOther Items(Net)\n(271,005.41)\n \n(239,590.58)\n \n(249,943.61)\n \n(243,628.59)\n \n(294,815.93)\n \n(220,232.10)\n \n(186,325.14)\n \n(225,515.85)\n \n(243,984.80)\n \n(181,510.08)\n \n(210,686.24)\n \n(200,367.71)\n \n(226,105.56)\n \nDeposits and Securities Included in Broad Money\n5,103,294.98\n \n5,047,074.28\n \n5,167,680.67\n \n5,263,571.88\n \n5,302,500.30\n \n5,397,590.93\n \n5,567,120.14\n \n5,579,371.63\n \n5,654,297.27\n \n5,734,703.72\n \n5,960,513.96\n \n6,009,210.65\n \n6,278,455.63\n \nDeposits Included in Broad Money\n5,022,342.85\n \n4,975,283.25\n \n5,086,840.39\n \n5,189,453.59\n \n5,229,143.63\n \n5,353,728.76\n \n5,504,225.78\n \n5,528,809.61\n \n5,594,968.03\n \n5,674,542.57\n \n5,897,221.76\n \n5,947,817.72\n \n6,212,788.17\n \nTransferable Deposits\n3,453,134.13\n \n3,457,573.92\n \n3,533,492.69\n \n3,654,543.14\n \n3,720,200.45\n \n3,886,146.76\n \n4,032,568.59\n \n3,983,863.96\n \n4,042,323.47\n \n4,144,685.59\n \n4,366,516.18\n \n4,389,399.64\n \n4,673,922.65\n \nOther Deposits\n1,569,208.72\n \n1,517,709.33\n \n1,553,347.70\n \n1,534,910.45\n \n1,508,943.19\n \n1,467,582.00\n \n1,471,657.19\n \n1,544,945.66\n \n1,552,644.56\n \n1,529,856.98\n \n1,530,705.58\n \n1,558,418.08\n \n1,538,865.52\n \nMoney Market Instruments\n80,952.14\n \n71,791.03\n \n80,840.29\n \n74,118.29\n \n73,356.67\n \n43,862.17\n \n62,894.35\n \n50,562.02\n \n59,329.24\n \n60,161.15\n \n63,292.20\n \n61,392.93\n \n65,667.46\n \nSource: Reserve Bank of Zimbawe\nTABLE 3: OTHER DEPOSITORY CORPORATIONS SURVEY ( US '000)\n \n \n \n15 \n \n \n \n \n \n \nForeign\nTOTAL\nEnd of\nNotes\nBond\n&\nBalances\nBalances with\nBalances\nOther Claims \n Notes &\nCoin\nwith\nOther Depository \nwith\non\nGovernment1\nLocal Governemt\nPublic Enterprises\nOther2\nGovernment\nLocal \nPublic \nOther Institutional Units3\nOther cliams\nContigent Assets\nOther Assets\nNon Financial \nCoins\nRBZ\nCorporations\nForeign Banks\nNon-residents\nSecurities\nsecurities\nGovernment\nEnterprises\nAssets\n2016\nJan\n1.22\n \n193.28\n734.58\n294.53\n116.1\n25.0\n1,147.0\n28.8\n5.2\n19.1\n28.5\n15.6\n63.6\n3,547.4\n110.2\n582.8\n412.8\n545.1\n7,870.8\nFeb\n1.44\n \n160.35\n763.47\n287.06\n102.8\n25.0\n1,228.9\n29.2\n5.2\n19.0\n25.0\n15.8\n61.1\n3,472.0\n100.5\n477.1\n427.3\n547.6\n7,748.9\nMar\n1.53\n \n179.00\n809.22\n286.42\n148.6\n25.0\n1,225.0\n28.5\n5.1\n16.4\n22.6\n14.2\n103.9\n3,510.6\n59.3\n471.0\n428.0\n552.9\n7,887.2\nApr\n1.55\n \n146.02\n818.74\n323.00\n111.8\n25.0\n1,322.7\n27.6\n5.1\n15.8\n25.1\n15.0\n102.4\n3,453.7\n66.7\n413.7\n445.5\n552.2\n7,871.5\nMay\n1.53\n \n100.12\n973.06\n281.55\n91.0\n25.0\n1,354.1\n26.8\n5.0\n16.6\n12.3\n14.7\n101.1\n3,433.4\n61.0\n397.0\n440.2\n564.1\n7,898.5\nJun\n1.61\n \n124.61\n1,015.85\n287.98\n128.5\n25.0\n1,412.9\n25.9\n0.0\n16.4\n28.1\n14.6\n98.9\n3,414.9\n66.9\n407.7\n431.5\n578.8\n8,080.1\nJul\n1.62\n \n111.03\n1,053.72\n242.57\n147.4\n25.0\n1,450.1\n33.4\n0.0\n16.2\n26.6\n15.4\n100.7\n3,320.9\n74.2\n393.1\n416.7\n592.4\n8,021.1\nAug\n1.58\n \n148.46\n1,177.10\n235.02\n136.0\n25.0\n1,420.2\n32.3\n0.0\n11.3\n22.9\n15.4\n100.5\n3,326.8\n67.8\n390.2\n445.0\n598.3\n8,153.9\nSep\n1.63\n \n96.32\n1,208.28\n310.75\n173.6\n25.0\n1,463.4\n29.0\n5.4\n3.2\n27.3\n14.5\n88.4\n3,349.0\n86.1\n382.3\n448.6\n606.6\n8,319.5\nOct\n1.42\n \n88.60\n1,155.19\n322.05\n162.3\n27.0\n1,517.5\n26.3\n15.4\n3.9\n28.7\n15.5\n88.1\n3,389.7\n68.2\n397.2\n427.7\n609.0\n8,343.8\nNov\n4.57\n \n76.25\n1,318.56\n318.52\n140.9\n27.0\n1,500.7\n22.3\n15.5\n4.6\n17.6\n15.4\n86.1\n3,469.5\n71.9\n350.5\n419.0\n618.2\n8,477.2\nDec\n16.56\n \n107.69\n1,418.99\n378.23\n162.9\n27.0\n1,553.2\n21.0\n15.3\n4.9\n17.8\n13.2\n71.3\n3,265.0\n330.1\n376.7\n408.8\n626.0\n8,814.8\n2017\nJan\n20.21\n \n110.98\n1,454.99\n239.82\n132.7\n27.0\n1,654.5\n20.8\n15.4\n3.6\n15.9\n15.1\n69.2\n3,394.7\n57.5\n395.7\n383.4\n630.4\n8,642.1\nFeb\n19.30\n \n96.84\n1,488.48\n251.83\n145.1\n48.6\n1,714.0\n20.1\n15.5\n3.2\n15.0\n14.9\n68.9\n3,177.9\n236.8\n398.5\n400.0\n631.1\n8,746.0\nMar\n12.56\n \n66.43\n1,485.92\n260.51\n154.9\n53.5\n1,794.1\n18.7\n15.7\n3.8\n15.7\n15.7\n70.7\n3,460.5\n67.2\n422.4\n442.5\n635.1\n8,995.8\nApr\n10.69\n \n67.82\n1,495.25\n249.41\n219.3\n51.4\n1,954.0\n17.8\n15.8\n3.6\n15.8\n16.9\n74.5\n3,449.5\n24.6\n489.1\n398.8\n644.6\n9,199.0\nMay\n13.44\n \n56.94\n1,492.38\n272.47\n170.2\n75.3\n1,968.9\n20.3\n15.7\n33.6\n16.7\n16.3\n72.9\n3,447.8\n82.4\n486.1\n421.7\n644.4\n9,307.6\nJun\n7.36\n \n57.08\n1,674.91\n350.26\n92.1\n110.6\n2,014.2\n19.0\n16.0\n35.0\n47.9\n16.5\n82.9\n3,494.3\n92.8\n533.5\n408.9\n649.6\n9,702.8\nSource:Reserve Bank of Zimbabwe,2017\nNotes\n1.Government securities includes treasuary bills and bonds\n2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.\n3.Includes households, other financial corporations, \nTABLE 4.1: - OTHER DEPOSITORY CORPORATIONS -ASSETS\nUS$ millions\nDebt Securities\nLoans and Advances\n \n \n \n16 \n \n \nDebt Securities\nForeign Liabilities\nCapital\nContigent\nOther\nTotal\nand\nLiablities\nLiablities\nEnd of\nDemand\nSavings\nTime Deposits\nTotal Deposits \nOther Depository\nGovernment \nTotal\nRBZ\nOther Depository \nOther Finacial \nReserves\nfrom the public\nCorporations\n Corporations\n Corporations\n2016\n Jan\n2,487.3\n650.3\n1,536.5\n4,674.2\n388.1\n26.4\n5,088.7\n44.9\n356.5\n0.0\n125.0\n86.0\n1,189.0\n582.8\n397.8\n7,870.76\n \n Feb\n2,466.2\n669.7\n1,552.9\n4,688.8\n375.0\n20.4\n5,084.1\n50.3\n341.1\n0.0\n171.7\n36.4\n1,196.7\n477.1\n391.3\n7,748.89\n \n Mar\n2,566.3\n676.8\n1,592.4\n4,835.5\n371.0\n16.9\n5,223.5\n55.6\n340.1\n0.0\n181.1\n37.3\n1,185.3\n471.0\n393.5\n7,887.24\n \n Apr\n2,629.9\n695.1\n1,568.6\n4,893.7\n332.4\n18.5\n5,244.6\n80.1\n322.6\n0.0\n194.0\n36.9\n1,188.4\n413.7\n391.2\n7,871.55\n \n May\n2,698.3\n690.6\n1,559.5\n4,948.4\n309.8\n19.5\n5,277.7\n71.6\n336.1\n0.0\n143.5\n36.8\n1,238.7\n397.0\n397.2\n7,898.54\n \n June\n2,792.4\n660.9\n1,569.2\n5,022.5\n401.4\n25.6\n5,449.5\n81.0\n307.7\n0.0\n159.4\n47.4\n1,243.5\n407.7\n384.0\n8,080.12\n \n July\n2,734.8\n722.9\n1,517.7\n4,975.5\n435.1\n50.9\n5,461.5\n71.8\n296.6\n0.0\n129.6\n46.2\n1,256.6\n393.1\n365.6\n8,021.06\n \n Aug\n2,894.5\n639.2\n1,553.3\n5,087.1\n412.3\n46.9\n5,546.3\n80.8\n290.6\n0.0\n127.6\n41.2\n1,271.0\n390.2\n406.1\n8,153.92\n \n Sep\n2,974.8\n679.9\n1,534.9\n5,189.6\n479.7\n43.7\n5,713.0\n74.1\n276.8\n0.0\n151.7\n36.2\n1,276.8\n382.3\n408.4\n8,319.46\n \n Oct\n3,115.2\n605.1\n1,508.9\n5,229.3\n433.8\n43.1\n5,706.1\n73.4\n297.0\n0.0\n162.4\n28.3\n1,293.5\n397.2\n385.9\n8,343.79\n \n Nov\n3,245.5\n640.8\n1,467.6\n5,353.9\n471.9\n46.2\n5,872.0\n43.9\n289.7\n0.0\n142.2\n28.8\n1,313.4\n350.5\n436.9\n8,477.19\n \n Dec\n3,329.8\n702.9\n1,471.7\n5,504.4\n510.9\n42.2\n6,057.4\n62.9\n279.6\n1.8\n191.5\n48.8\n1,384.1\n376.7\n412.1\n8,814.81\n \n2017\n Jan\n3,263.8\n720.5\n1,544.9\n5,529.3\n429.8\n53.1\n6,012.2\n50.6\n271.2\n0.0\n104.5\n41.1\n1,360.2\n395.7\n406.6\n8,642.14\n \n Feb\n3,325.9\n722.0\n1,552.6\n5,600.5\n426.0\n55.3\n6,081.7\n59.3\n270.8\n0.0\n126.1\n43.4\n1,365.8\n398.5\n400.4\n8,746.02\n \n Mar\n3,429.2\n715.7\n1,529.9\n5,674.7\n461.0\n86.9\n6,222.6\n60.2\n249.6\n1.8\n134.9\n41.9\n1,426.8\n422.4\n435.7\n8,995.81\n \n Apr\n3,555.8\n813.7\n1,530.7\n5,900.2\n450.9\n76.2\n6,427.3\n63.3\n251.1\n0.0\n117.4\n41.9\n1,382.2\n489.1\n426.7\n9,199.00\n \n May\n3,593.7\n798.7\n1,558.4\n5,950.8\n454.6\n75.1\n6,480.5\n61.4\n243.5\n0.0\n95.2\n42.2\n1,448.6\n486.1\n450.1\n9,307.64\n \n Jun\n3,851.4\n825.6\n1,538.9\n6,215.9\n497.6\n73.7\n6,787.2\n65.7\n259.5\n0.0\n108.9\n46.6\n1,455.9\n533.5\n445.6\n9,702.82\n \nSource:Reserve Bank of Zimbabwe,2017\nTABLE 4.1 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES \nDeposits\nAmounts Owing to\nUS$millions\n \n \n \n17 \n \n \n \n \n \n \n \n \nTOTAL\nEnd of\nForeign\nBond\nNotes\nBalances\nBalances with\nBalances\nOther Claims \nLocal\nPublic\nOther \nContigent \nNon Financial \n Notes &\n&\nwith\nOther Depository \nwith\non\nGovernment1\nLocal Governemt\nPublic Enterprises\nOther2\nGovernment\nGovernment\nEnterprises\n Institutional Units3\nOther claims\nAssets\nOther Assets\nAssets\nCoins\nCoin\nRBZ\nCorporations\nForeign Banks\nNon-residents\nSecurities\nsecurities\n2016\nJan\n1.05\n \n171.98\n667.53\n119.20\n105.6\n25.0\n1,039.4\n0.0\n5.2\n19.1\n28.5\n15.6\n62.6\n2,703.9\n61.5\n582.8\n278.8\n396.6\n6,284.4\nFeb\n1.21\n \n140.75\n702.19\n96.28\n93.1\n25.0\n1,128.1\n0.0\n5.2\n19.0\n25.0\n15.8\n60.1\n2,615.0\n62.1\n477.1\n292.8\n399.3\n6,158.2\nMar\n1.31\n \n161.90\n734.53\n96.34\n131.7\n25.0\n1,143.3\n0.0\n5.1\n16.4\n22.6\n14.2\n102.9\n2,618.9\n62.6\n471.0\n298.0\n405.1\n6,311.1\nApr\n1.35\n \n135.51\n778.19\n135.47\n108.3\n25.0\n1,200.9\n0.0\n5.1\n15.8\n25.1\n15.0\n101.5\n2,573.6\n69.6\n413.7\n309.7\n404.7\n6,318.6\nMay\n1.38\n \n89.57\n891.44\n130.52\n85.3\n25.0\n1,229.5\n0.0\n5.0\n16.6\n12.3\n14.7\n100.1\n2,534.2\n64.0\n397.0\n302.2\n413.8\n6,312.8\nJun\n1.42\n \n108.53\n934.42\n84.65\n123.2\n25.0\n1,279.0\n0.0\n0.0\n16.4\n28.1\n14.6\n97.9\n2,523.7\n64.1\n407.7\n299.0\n431.6\n6,439.3\nJul\n1.45\n \n101.74\n977.63\n79.50\n141.3\n25.0\n1,316.9\n0.0\n0.0\n16.2\n26.6\n15.4\n99.7\n2,414.7\n65.7\n393.1\n284.0\n440.7\n6,399.6\nAug\n1.36\n \n140.23\n1,074.47\n97.53\n131.9\n25.0\n1,297.4\n0.0\n0.0\n11.3\n22.9\n15.4\n99.5\n2,414.8\n67.3\n390.2\n313.6\n447.3\n6,550.2\nSep\n1.40\n \n91.63\n1,122.67\n143.91\n169.6\n25.0\n1,331.9\n0.0\n5.4\n3.2\n27.3\n14.5\n87.3\n2,451.9\n71.4\n382.3\n317.3\n455.9\n6,702.6\nOct\n1.27\n \n81.03\n1,090.44\n130.20\n155.1\n27.0\n1,376.2\n0.0\n15.4\n3.9\n28.7\n15.5\n87.1\n2,472.1\n66.0\n397.2\n293.2\n458.2\n6,698.6\nNov\n4.24\n \n69.45\n1,242.12\n103.17\n136.3\n27.0\n1,349.8\n0.0\n15.5\n4.6\n17.6\n15.4\n85.2\n2,511.0\n68.5\n350.5\n285.6\n466.2\n6,752.2\nDec\n14.07\n \n98.95\n1,306.91\n134.35\n156.7\n27.0\n1,416.0\n0.0\n15.3\n4.9\n17.8\n13.2\n70.4\n2,380.1\n273.8\n376.7\n274.2\n473.4\n7,053.8\n2017\nJan\n17.72\n \n103.75\n1,322.38\n81.89\n128.2\n27.0\n1,485.0\n0.0\n15.4\n3.6\n15.9\n15.1\n68.6\n2,467.7\n53.9\n395.7\n251.9\n479.3\n6,933.1\nFeb\n16.29\n \n89.44\n1,396.07\n96.11\n137.3\n48.6\n1,502.5\n0.0\n15.5\n3.2\n15.0\n14.9\n68.2\n2,238.9\n239.7\n398.5\n266.0\n480.1\n7,026.4\nMar\n10.74\n \n63.27\n1,421.43\n83.18\n150.7\n53.5\n1,578.7\n0.0\n15.7\n3.8\n15.7\n15.7\n69.9\n2,554.3\n23.7\n422.4\n314.5\n484.0\n7,281.0\nApr\n9.82\n \n64.14\n1,383.44\n75.92\n209.0\n51.4\n1,744.4\n0.0\n15.8\n3.6\n15.8\n16.9\n74.0\n2,493.3\n26.4\n489.1\n263.7\n492.6\n7,429.3\nMay\n12.36\n \n52.63\n1,376.30\n119.89\n159.1\n75.3\n1,739.8\n0.0\n15.7\n33.6\n16.7\n16.3\n72.4\n2,528.3\n28.4\n486.1\n290.7\n492.0\n7,515.6\nJun\n7.01\n \n53.33\n1,578.51\n141.42\n82.2\n110.6\n1,786.8\n0.0\n16.0\n35.0\n47.9\n16.5\n82.2\n2,583.5\n23.9\n533.5\n273.6\n497.3\n7,869.2\nSource:Reserve Bank of Zimbabwe,2017\nNotes\n1.Government securities includes treasuary bills and bonds\n2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.\nTABLE 5.1: - COMMERCIAL BANKS -ASSETS\nUS$ millions\nDebt Securities\nLoans and Advances\n \n \n \n18 \n \n \n \n \n \n \n \n \n \nUS$ millions\nEnd of\nDemand\nSavings\nTime Deposits\nTotal Deposits \nOther Depository\nGovernment \nTotal\nDebt Securities\nForeign Liabilities\nRBZ\nOther Depository Other Finacial \nCapital\nContigent\nOther\nfrom the public\nCorporations\n Corporations\n Corporations\nand\nLiablities\nLiablities\nTotal\nReserves\n2016\n Jan\n2,428.8\n278.8\n967.1\n3674.77\n340.4\n24.7\n4,039.9\n33.6\n313.2\n0.0\n50.3\n85.3\n871.3\n582.8\n308.0\n6284.43\n Feb\n2,407.9\n290.0\n984.9\n3682.68\n337.3\n18.8\n4,038.7\n38.4\n298.9\n0.0\n91.0\n35.0\n878.1\n477.1\n301.0\n6158.19\n Mar\n2,508.0\n288.3\n1,026.9\n3823.12\n345.4\n15.4\n4,183.9\n43.2\n303.1\n0.0\n100.2\n36.1\n886.6\n471.0\n287.1\n6311.15\n Apr\n2,571.6\n297.5\n1,014.8\n3883.80\n306.8\n16.9\n4,207.6\n67.7\n285.7\n0.0\n119.4\n36.1\n893.9\n413.7\n294.4\n6318.60\n May\n2,639.9\n280.6\n1,042.8\n3963.37\n275.1\n17.9\n4,256.4\n57.9\n300.0\n0.0\n66.3\n36.1\n908.9\n397.0\n290.1\n6312.76\n June\n2,734.1\n268.2\n1,019.8\n4022.09\n331.6\n24.0\n4,377.6\n67.9\n272.3\n0.0\n77.8\n44.3\n915.7\n407.7\n276.0\n6439.33\n July\n2,676.5\n334.1\n987.4\n3997.93\n361.0\n33.8\n4,392.8\n58.2\n261.0\n0.0\n56.9\n45.8\n922.1\n393.1\n269.8\n6399.63\n Aug\n2,836.2\n285.6\n1,009.5\n4131.35\n341.3\n29.3\n4,501.9\n67.0\n257.0\n0.0\n51.1\n40.9\n932.3\n390.2\n309.8\n6550.23\n Sep\n2,915.9\n334.9\n987.8\n4238.62\n393.9\n25.8\n4,658.3\n62.9\n246.3\n0.0\n69.3\n35.9\n944.5\n382.3\n303.2\n6702.64\n Oct\n3,056.4\n267.0\n940.9\n4264.34\n344.5\n25.0\n4,633.9\n60.0\n267.7\n0.0\n74.5\n27.9\n954.5\n397.2\n283.0\n6698.61\n Nov\n3,186.7\n254.5\n896.9\n4338.05\n382.5\n28.0\n4,748.6\n29.3\n260.0\n0.0\n51.4\n28.2\n966.9\n350.5\n317.3\n6752.22\n Dec\n3,271.3\n285.7\n896.0\n4452.99\n418.3\n19.6\n4,890.9\n47.1\n250.7\n1.8\n111.6\n48.2\n1,032.7\n376.7\n294.0\n7053.81\n2017\n Jan\n3,205.0\n317.1\n981.8\n4503.86\n348.3\n30.4\n4,882.6\n36.9\n242.1\n0.0\n38.0\n40.4\n1,005.1\n395.7\n292.2\n6933.07\n Feb\n3,267.0\n318.3\n977.1\n4562.41\n349.8\n32.6\n4,944.9\n47.5\n243.9\n0.0\n63.7\n42.9\n1,007.7\n398.5\n277.4\n7026.43\n Mar\n3,370.3\n313.3\n965.3\n4648.90\n390.8\n64.2\n5,103.9\n50.6\n225.6\n1.8\n66.3\n41.5\n1,061.6\n422.4\n307.3\n7281.03\n Apr\n3,496.9\n328.5\n960.8\n4786.12\n380.3\n54.3\n5,220.7\n52.8\n228.3\n0.0\n63.3\n41.7\n1,034.4\n489.1\n299.0\n7429.28\n May\n3,534.8\n331.2\n979.7\n4845.74\n384.0\n53.4\n5,283.1\n50.8\n220.4\n0.0\n29.0\n41.9\n1,092.7\n486.1\n311.6\n7515.61\n Jun\n3,792.5\n332.7\n949.8\n5075.08\n423.9\n51.7\n5,550.7\n54.9\n237.5\n0.0\n43.7\n45.8\n1,095.2\n533.5\n308.0\n7869.22\nSource:Reserve Bank of Zimbabwe,2017\nTABLE 5.2 : COMMERCIAL BANKS - LIABILITIES\nDeposits\nAmounts Owing to\n \n \n \n19 \n \n \n \n \n \n \n \n20 \n \n \n \n \n \n \n \n \nDebt Securities Foreign Liabilities\nCapital\nOther\nTotal\nand\nLiablities \nEnd of\nSavings\nTime Deposits\nTotal Deposits \nOther Depository\nGovernment\nTotal \nRBZ\nOther Depository Other Finacial Reserves\nfrom the public\nCorporations \n Corporations Corporations\n2016 \n Jan \n297.8 \n534.3\n832.14 \n47.2 \n0.1 \n879.4 \n22.6 \n43.3 \n0.0 \n74.7 \n0.0\n292.9\n32.3\n1345.27\n Feb \n305.9 \n533.4\n839.34 \n37.2 \n0.1 \n876.6 \n23.2 \n42.3 \n0.0 \n80.7 \n0.9\n296.3\n31.5\n1351.56\n Mar \n314.1 \n531.2\n845.28 \n25.1 \n0.0 \n870.4 \n23.6 \n37.0 \n0.0 \n80.9 \n0.8\n284.3\n46.0\n1343.06\n Apr \n317.6 \n520.8\n838.41 \n25.1 \n0.0 \n863.5 \n23.7 \n36.9 \n0.0 \n74.6 \n0.5\n278.8\n33.9\n1311.79\n May \n330.8 \n480.5\n811.31 \n34.1 \n0.0 \n845.5 \n25.0 \n36.2 \n0.0 \n77.2 \n0.5\n315.5\n45.5\n1345.27\n June \n313.1 \n511.6\n824.71 \n69.2 \n0.0 \n893.9 \n24.4 \n35.4 \n0.0 \n81.5 \n3.1\n313.1\n46.3\n1397.68\n July \n313.4 \n490.8\n804.18 \n74.0 \n15.5 \n893.7 \n24.8 \n35.7 \n0.0 \n72.7 \n0.4\n318.2\n33.4\n1378.87\n Aug \n278.7 \n503.6\n782.31 \n71.0 \n16.1 \n869.4 \n25.1 \n33.6 \n0.0 \n76.5 \n0.4\n321.5\n33.3\n1359.67\n Sep \n270.8 \n507.3\n778.11 \n85.7 \n16.4 \n880.2 \n22.5 \n30.5 \n0.0 \n82.4 \n0.3\n314.1\n35.5\n1365.62\n Oct \n267.3 \n525.9\n793.19 \n89.2 \n16.4 \n898.9 \n24.6 \n29.4 \n0.0 \n87.8 \n0.4\n319.7\n40.1\n1400.87\n Nov \n311.8 \n529.0\n840.82 \n89.4 \n16.5 \n946.7 \n25.8 \n29.6 \n0.0 \n90.8 \n0.6\n326.4\n56.8\n1476.66\n Dec \n339.5 \n532.9\n872.41 \n92.6 \n16.6 \n981.6 \n27.0 \n28.8 \n0.0 \n79.9 \n0.5\n330.3\n56.9\n1505.10\n2017 \n Jan \n326.2 \n522.1\n848.23 \n81.5 \n16.6 \n946.4 \n25.0 \n29.1 \n0.0 \n66.5 \n0.7\n332.1\n51.7\n1451.40\n Feb \n326.1 \n534.4\n860.48 \n76.2 \n16.6 \n953.3 \n23.1 \n27.0 \n0.0 \n62.4 \n0.5\n334.5\n59.7\n1460.43\n Mar \n319.7 \n523.2\n842.91 \n70.2 \n16.7 \n929.9 \n20.9 \n24.0 \n0.0 \n68.5 \n0.3\n340.7\n64.3\n1448.62\n Apr \n399.6 \n527.1\n926.64 \n70.6 \n16.0 \n1,013.2 \n21.8 \n22.8 \n0.0 \n54.0 \n0.2\n322.5\n62.3\n1496.83\n May \n378.0 \n536.0\n914.03 \n70.7 \n16.1 \n1,000.8 \n21.8 \n23.0 \n0.0 \n66.2 \n0.4\n325.8\n77.4\n1515.45\n Jun \n401.8 \n544.4\n946.24 \n70.7 \n16.5 \n1,033.4 \n22.0 \n22.0 \n0.0 \n65.2 \n0.8\n330.0\n75.4\n1548.79\nSource: Reserve Bank of Zimbabwe,2017 \n \nAmounts Owing to\nTABLE 6.2: BUILDING SOCIETIES -LIABILITIES\nUS$ millions \n \n \n \n21 \n \n \n \n \n22 \n \nEND OF\nAGRICULTURE CONSTRUCTION COMMUNICATIONS\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATES\nTOTAL\nINVESTMENTS ORGANISATIONS\n2016\nJan\n231,827.3\n101,724.1\n93,544.2\n517,089.2\n325,203.1\n977,272.1\n345,812.2\n62,026.3\n1,083,702.7\n61,755.6\n618,080.1\n58,808.7\n4,476,845.6\nFeb\n226,568.3\n105,747.9\n97,684.4\n525,070.9\n339,839.0\n896,869.2\n326,026.0\n59,381.3\n1,047,904.6\n63,248.3\n634,478.3\n63,017.8\n4,385,835.9\nMar\n243,546.9\n102,238.4\n116,471.1\n582,943.5\n362,058.8\n879,340.8\n368,689.6\n60,514.0\n1,073,567.6\n62,839.4\n642,779.4\n61,037.6\n4,556,027.1\nApr\n243,151.6\n102,234.0\n112,219.5\n569,660.7\n360,299.5\n907,855.6\n335,068.6\n71,721.0\n1,156,122.6\n63,858.0\n628,901.1\n61,087.0\n4,612,179.4\nMay\n236,180.5\n97,008.6\n120,726.3\n593,284.9\n371,034.5\n923,580.9\n356,500.9\n99,176.4\n1,107,956.8\n61,396.5\n607,501.4\n64,066.3\n4,638,413.9\nJun\n218,386.8\n103,914.2\n134,181.8\n596,904.8\n362,400.2\n973,333.3\n316,490.8\n58,856.9\n1,128,688.7\n72,063.3\n601,813.8\n61,833.2\n4,628,867.8\nJul\n207,280.2\n99,727.9\n138,781.2\n616,359.8\n348,779.7\n1,035,697.0\n370,456.9\n63,986.1\n1,114,413.7\n65,391.9\n622,329.2\n69,058.9\n4,752,262.6\nAug\n233,004.5\n97,248.8\n153,590.8\n578,487.3\n365,366.8\n997,123.0\n356,522.0\n64,413.7\n1,227,979.0\n67,005.8\n621,307.8\n73,076.2\n4,835,125.8\nSep\n236,724.3\n101,117.1\n155,483.5\n597,290.0\n346,375.9\n1,046,195.2\n366,312.8\n57,885.0\n1,365,673.5\n73,805.9\n595,219.8\n70,669.7\n5,012,752.7\nOct\n239,373.9\n107,235.7\n160,641.2\n593,362.2\n344,681.9\n988,274.7\n363,815.8\n63,998.0\n1,384,083.2\n76,834.0\n593,827.7\n73,608.8\n4,989,737.2\nNov\n318,652.7\n107,089.5\n189,581.3\n501,506.5\n329,147.3\n992,135.7\n411,467.8\n150,691.6\n1,337,295.6\n79,405.2\n591,639.0\n71,016.3\n5,079,628.5\nDec\n258,814.9\n110,009.2\n202,260.4\n590,595.6\n348,457.0\n1,020,795.0\n382,615.8\n81,542.7\n1,466,867.2\n82,186.5\n592,932.5\n76,874.9\n5,213,951.8\n2017\nJan\n236,437.3\n108,552.5\n230,965.4\n618,213.5\n339,580.3\n1,002,775.4\n382,746.3\n86,115.0\n1,393,941.2\n82,670.8\n589,549.9\n85,602.3\n5,157,150.0\nFeb\n254,463.9\n112,294.4\n226,877.9\n613,080.1\n312,948.5\n997,181.2\n393,542.8\n121,798.7\n1,402,647.6\n91,521.7\n604,325.0\n84,653.3\n5,215,335.3\nMar\n299,519.0\n118,530.1\n232,990.6\n626,986.6\n308,297.9\n1,049,255.7\n402,864.2\n170,835.1\n1,400,323.5\n102,287.7\n610,024.4\n91,046.0\n5,412,960.9\nApr\n281,219.8\n117,174.3\n235,093.5\n687,962.2\n307,711.4\n1,013,362.6\n400,018.9\n190,005.8\n1,432,953.1\n110,258.7\n650,595.9\n102,681.0\n5,529,037.2\nMay\n301,531.2\n113,685.5\n220,541.8\n679,781.4\n320,878.2\n1,019,941.1\n417,418.5\n175,383.4\n1,454,718.3\n108,366.5\n667,019.7\n71,770.2\n5,551,035.8\nJun\n295,920.4\n109,938.0\n248,436.3\n712,648.0\n334,368.7\n1,121,023.5\n408,604.0\n185,262.3\n1,521,876.3\n107,327.1\n697,997.7\n74,195.4\n5,817,597.8\nSource: Reserve Bank of Zimbabwe,2017\n TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \nUS$ thousands\n \n \n23 \n \n \n \n \nEnd Period\nNominal Lending Rates 1\nIndividuals \nCorporate\n2016 \nJan\n6.00-22.00\n12.08\n7.38\nFeb\n4.00-22.00\n11.48\n7.29\nMar\n4.00-22.00\n11.44\n7.16\nApr\n4.00-22.00\n11.50\n7.20\nMay\n4.00-18.00\n11.43\n7.35\nJun\n4.00-18.00\n11.40\n7.48\nJul\n4.00-18.00\n10.69\n6.79\nAug\n4.00-18.00\n10.67\n6.84\nSep\n4.00-18.00\n10.66\n6.95\nOct\n4.00-18.00\n10.70\n6.93\nNov\n4.00-18.00\n10.69\n6.99\nDec\n4.00-18.00\n10.59\n6.87\n2017 \nJan\n4.00-18.00\n10.61\n6.68\nFeb\n4.00-18.00\n10.06\n6.52\nMar\n4.00-18.00\n9.12\n7.02\nApr\n4.00-18.00\n9.25\n7.02\nMay\n4.00-18.00\n9.17\n7.03\nJun\n4.00-18.00\n9.01\n7.05\nSource:Reserve Bank of Zimbabwe, 2017\nNotes\nTABLE 8.1: LENDING RATES (percent per annum)\n1. Nominal Lending Rates depict the range of rates quoted by banks.\nCommercial Banks\nWeighted Average Lending Rates\n \n \n \n24 \n \n \n \n \nEND OF\nSAVINGS\n3 MONTHS\n2016 \nJan\n0.50-8.00\n0.75-17.00\nFeb\n0.50-8.00\n0.75-17.00\nMar\n0.50-8.00\n0.75-17.00\nApr\n0.50-8.00\n0.75-17.00\nMay\n0.50-8.00\n0.75-17.00\nJun\n0.50-6.00\n0.75-17.00\nJul\n0.50-6.00\n0.75-17.00\nAug\n0.50-6.00\n1.00-17.00\nSep\n0.50-6.00\n1.00-17.00\nOct\n0.50-6.00\n1.00-17.00\nNov\n0.50-6.00\n1.00-17.00\nDec\n0.50-6.00\n1.00-17.00\n2017 \nJan\n0.50-6.00\n1.00-17.00\nFeb\n0.50-6.00\n1.00-17.00\nMar\n0.50-6.00\n1.00-17.00\nApr\n0.50-6.00\n1.00-17.00\nMay\n0.50-6.00\n1.00-9.50**\nJun\n0.50-6.00\n1.00-12.00\n Source:Reserve Bank of Zimbabwe, 2017\n* The range of rates qouted by banks during the period.\n **Banks have adjusted their costs of holding deposits following the call by the RBZ to reduce lending rates. \nTABLE 8.2 : BANKS DEPOSIT RATES (percent per annum)*\nCOMMERCIAL BANKS\n \n \n 25 \n \n \n \n \nFOOD \nINFLATION\nALL\nALCOHOLIC \nBEVERAGES \nCLOTHING\nHOUSING, \nWATER,\nFURNITURE\nHEALTH\nTRANSPORT\nCOMMUNICATION\nRECREATION \n&\nEDUCATION\nRESTAURANTS \n&\nMISC.\nTOTAL NON\nFOOD & \nITEMS\n& TOBACCO\nFOOTWEAR\nELECTRICTY, \nGAS\nAND\nCULTURE\nHOTELS\nGOODS &\nFOOD\nNON \nALCOHOLIC \nBEVERAGES\n& OTHER\nEQUIPMENT\nSERVICES\nFUELS\nWEIGHTS\n4.38\n6.05\n17.74\n9.91\n2.16\n9.76\n3.41\n2.1\n5.67\n1.38\n3.91\n66.47\n33.53\n100\n2016 \nJan\n0.05\n-0.02\n-0.04\n-0.30\n-0.15\n-0.37\n0.00\n-0.18\n0.00\n-0.16\n-0.29\n-0.13\n0.13\n-0.05\nFeb\n-0.14\n0.00\n-0.12\n-0.19\n-0.17\n-0.37\n-0.13\n-0.01\n0.00\n-0.17\n0.06\n-0.14\n-0.03\n-0.10\nMar\n-0.15\n-0.17\n-1.03\n-0.73\n-0.13\n-0.30\n0.42\n-0.04\n3.36\n-0.62\n-0.60\n-0.11\n-0.13\n-0.12\nApr\n0.03\n-0.14\n-0.02\n-0.32\n0.00\n0.07\n-0.08\n-0.02\n-0.01\n-0.09\n-0.35\n-0.08\n-0.51\n-0.21\nMay\n-0.29\n-0.22\n0.12\n-0.11\n-0.18\n-0.11\n-1.61\n0.06\n0.00\n0.02\n-0.33\n-0.12\n-0.49\n-0.24\nJun\n0.07\n-0.21\n0.58\n0.03\n0.15\n-0.08\n-0.01\n-0.23\n2.65\n0.31\n0.09\n0.44\n-0.35\n0.19\nJul\n0.01\n-0.15\n0.04\n0.05\n-0.15\n-0.03\n-0.36\n0.09\n0.00\n0.04\n-0.30\n-0.03\n-0.52\n-0.19\nAug\n-0.06\n-0.22\n0.00\n-0.03\n-0.02\n-0.13\n-0.02\n-0.10\n0.00\n0.01\n0.13\n-0.04\n-0.31\n-0.13\nSep\n0.10\n-0.03\n-1.11\n-0.27\n-0.03\n-0.08\n-0.09\n-0.26\n0.00\n0.01\n0.10\n-0.34\n-0.06\n-0.26\nOct\n-0.05\n-0.24\n-0.13\n0.06\n-0.03\n-0.06\n0.00\n-0.01\n0.00\n-0.06\n0.17\n-0.05\n0.40\n0.09\nNov\n0.06\n-0.09\n0.00\n0.10\n-0.07\n0.33\n0.00\n0.18\n-2.46\n-0.01\n0.14\n-0.22\n0.54\n0.02\nDec\n-0.06\n0.09\n-0.59\n0.46\n0.09\n-0.27\n0.00\n0.29\n0.00\n0.16\n0.34\n-0.09\n0.38\n0.06\n2017 \nJan\n0.00\n-0.15\n0.10\n0.34\n-0.15\n-0.75\n0.44\n0.27\n0.00\n0.29\n0.08\n-0.03\n0.80\n0.23\nFeb\n-0.09\n-0.14\n0.13\n0.70\n-0.03\n0.11\n0.00\n-0.04\n0.00\n0.18\n0.52\n0.17\n1.56\n0.61\nMar\n0.15\n0.03\n-0.07\n0.64\n0.11\n0.21\n-0.02\n0.18\n0.00\n0.01\n0.36\n0.15\n-0.21\n0.03\nApr\n-0.11\n0.02\n0.04\n0.06\n-0.04\n0.00\n0.05\n0.02\n2.02\n0.34\n-0.07\n0.25\n-0.36\n0.05\nMay\n0.13\n0.09\n-0.01\n0.02\n0.13\n0.04\n0.00\n-0.21\n0.00\n-0.39\n-0.09\n0.01\n0.07\n0.03\nJun\n0.21\n0.03\n-0.82\n0.38\n-0.03\n-0.18\n0.00\n0.18\n0.00\n0.29\n0.33\n-0.14\n-0.45\n-0.24\nSource:Zimstat, 2017\nNON-FOOD INFLATION\nTABLE 9.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX\n( DECEMBER 2012 = 100)\n \n \n \n26 \n \nF OOD \nIN F LA TION\nA LC OHOLIC \nC LOTHIN G\nHOUS IN G, \nWA TER ,\nF UR N ITUR E\nM IS C .\nF OOD & \nB EVER A GES \n& \nELEC TR IC T\nY, GA S\nA N D\nR EC R EA TION \n&\nR ES TA UR A N TS \n&\nGOOD S &\nTOTA L N ON\nN ON \nA LC OHOLIC \nA LL\n& TOB A C C O\nF OOTWEA R\n& OTHER\nEQUIP M EN T\nC ULTUR E\nHOTELS\nS ER VIC ES\nF OOD\nB EVER A GES\nITEM S\nF UELS\n2016\nJan\n-0.79\n-2.41\n-4.40\n-3.27\n0.37\n-2.66\n-0.93\n-1.09\n11.17\n0.75\n-1.01\n-1.34\n-3.96\n-2.19\nFeb\n-1.16\n-2.06\n-4.43\n-3.35\n0.22\n-2.62\n-0.97\n0.21\n11.17\n0.96\n-1.17\n-1.35\n-4.04\n-2.22\nMar\n-1.43\n-1.97\n-5.36\n-4.04\n0.14\n-2.92\n-0.55\n-1.00\n14.91\n0.21\n-1.86\n-1.43\n-4.13\n-2.31\nApr\n-1.40\n-1.40\n-2.11\n-3.91\n0.19\n-2.71\n-0.50\n-0.95\n14.21\n-0.28\n-2.17\n-0.51\n-4.02\n-1.64\nMay\n-1.52\n-1.21\n-2.17\n-3.77\n-0.10\n-2.57\n-2.09\n-0.78\n14.21\n-0.18\n-2.07\n-0.53\n-4.13\n-1.69\nJun\n-1.80\n-1.36\n-1.58\n-3.67\n0.21\n-2.71\n-2.10\n-0.92\n17.24\n0.20\n-2.09\n-0.09\n-4.04\n-1.37\nJul\n-1.71\n-1.56\n-0.98\n-2.83\n-0.09\n-2.66\n-2.43\n-0.69\n9.09\n0.27\n-2.42\n-0.59\n-3.76\n-1.60\nAug\n-1.50\n-1.77\n-1.01\n-2.73\n-0.07\n-2.50\n-2.39\n-0.54\n9.09\n0.42\n-2.21\n-0.54\n-3.34\n-1.43\nSep\n-1.36\n-1.79\n-1.50\n-2.48\n-0.14\n-2.17\n-2.10\n-0.78\n9.09\n-0.84\n-1.82\n-0.58\n-2.94\n-1.33\nOct\n-0.97\n-1.73\n-1.54\n-2.10\n-0.76\n-1.77\n-2.13\n-0.65\n9.09\n-0.72\n-1.77\n-0.45\n-2.03\n-0.95\nNov\n-0.77\n-1.63\n-1.53\n-1.77\n-0.83\n-1.37\n-1.91\n-0.45\n3.48\n-0.70\n-1.62\n-0.89\n-1.54\n-1.09\nDec\n-0.42\n-1.39\n-2.29\n-1.25\n-0.67\n-1.39\n-1.87\n-0.24\n3.49\n-0.47\n-0.99\n-0.92\n-0.95\n-0.93\n2017\nJan\n-0.47\n-1.52\n-2.16\n-0.62\n-0.68\n-1.76\n-1.44\n0.20\n3.49\n-0.02\n-0.62\n-0.82\n-0.30\n-0.65\nFeb\n-0.42\n-1.66\n-1.91\n0.26\n-0.53\n-1.29\n-1.31\n0.18\n3.49\n0.24\n-0.05\n-0.51\n1.29\n0.06\nMar\n-0.13\n-1.45\n-0.95\n1.64\n-0.30\n-0.79\n-1.74\n0.40\n0.12\n0.87\n0.92\n-0.25\n1.21\n0.21\nApr\n-0.26\n-1.29\n-0.89\n2.03\n-0.33\n-0.86\n-1.61\n0.44\n2.16\n1.30\n1.21\n0.08\n1.35\n0.48\nMay\n0.15\n-0.98\n-1.01\n2.16\n-0.01\n-0.71\n0.00\n0.17\n2.16\n0.88\n1.46\n0.21\n1.92\n0.75\nJun\n0.29\n-0.74\n-2.39\n2.52\n-0.19\n-0.81\n0.00\n0.59\n-0.48\n0.86\n1.70\n-0.37\n1.82\n0.31\nSource: Zimstat, 2017\nC OM M UN IC A TION\nTR A N S P OR T\nHEA LTH\nED UC A TION\nN ON -F OOD IN F LA TION\nTABLE 9.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \n(DECEMBER 2012 = 100)\n \n \n \n27 \n \n \n \n \n(US$ millions)\nEnd Period\n2000\n2001\n2002\n2003\n2004\n2005\n2006\n2007\n2008\n2009\n2010\n2011\n2012\n2013\n2014\n2015\n2016\nLong-Term External Debt\n3,227\n3,255\n3,327\n3,644\n3,927\n3,805\n3,965\n4,032\n4,464\n4,951\n5,175\n6,096\n6,607\n7,370\n8,444\n8,426\n8,656\nGovernment\n2,249\n2,328\n2,376\n2,617\n2,844\n2,895\n3,024\n3,054\n3,464\n4,037\n4,095\n4,638\n4,929\n5,012\n4,522\n5,293\n5,365\nBilateral Creditors\n1,050\n1,115\n1,107\n1,255\n1,455\n1,438\n1,520\n1,520\n1,863\n2,308\n2,325\n2,597\n2,694\n2,928\n2,445\n3,310\n3,479\nMultilateral Creditors\n1,199\n1,213\n1,269\n1,362\n1,389\n1,457\n1,504\n1,524\n1,592\n1,729\n1,770\n2,041\n2,235\n2,084\n2,078\n1,982\n1,886\nPrivate Creditors\n0\n0\n0\n0\n0\n0\n0\n10\n10\n0\n0\n0\n0\n0\n0\n0\n0\nPublic Enterprises\n534\n568\n616\n698\n714\n709\n766\n790\n825\n857\n938\n1,092\n1,198\n1,356\n1,661\n1,220\n1,370\nBilateral Creditors\n301\n315\n351\n403\n442\n439\n464\n474\n497\n453\n238\n711\n703\n858\n1,155\n760\n779\nMultilateral Creditors\n233\n253\n265\n295\n272\n270\n302\n316\n327\n403\n700\n382\n495\n498\n506\n460\n591\nPrivate Creditors\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\nMonetary Authorities\n292\n292\n279\n288\n291\n144\n130\n137\n140\n140\n138\n127\n125\n125\n120\n110\n0\nMultilateral Creditors - IMF\n292\n292\n279\n288\n291\n144\n130\n137\n140\n140\n138\n127\n125\n125\n120\n110\n0\nPrivate\n152\n67\n56\n41\n78\n57\n45\n51\n35\n57\n142\n366\n480\n1,002\n2,261\n1,913\n1,920\nShort-Term External Debt\n298\n167\n183\n169\n144\n173\n281\n387\n226\n1,198\n1,382\n1,289\n890\n1,564\n2,394\n2,258\n2,304\nSupplier's Credits\n42\n13\n26\n51\n69\n107\n122\n178\n41\n193\n286\n134\n30\n0\n0\n0\n0\nReserve Bank\n642\n642\n618\n614\n614\n587\n587\n573\nPrivate\n256\n154\n157\n118\n75\n66\n159\n209\n185\n363\n454\n537\n246\n950\n1,807\n1,671\n1,731\nTotal External Debt\n3,525\n3,422\n3,510\n3,812\n4,071\n3,978\n4,246\n4,419\n4,690\n6,149\n6,557\n7,385\n7,497\n8,934\n10,838\n10,684\n10,960\nSource: Ministry of Finance & Economic Development, 2017; & Reserve Bank of Zimbabwe, 2017\nTABLE 10: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)\n \n \n28 \n \n \n \n \n \n \n \nSA\nBW\nJAPANESE\nEUROPEAN\nPOUND\nEND OF\nRAND/1\nPULA/1\nYEN/1\nCURRENCY/2\nSTERLING/2\n2016\nJan\n16.0900\n11.4300\n120.5500\n1.0905\n1.4493\nfeb\n16.1100\n11.2700\n113.0300\n1.0990\n1.3880\nMar\n15.4500\n11.1000\n112.9500\n1.1100\n1.4200\nApr\n14.6200\n10.7575\n109.6825\n1.1340\n1.4306\nMay\n15.3200\n10.9800\n108.9323\n1.1340\n1.4522\nJun\n14.8834\n10.9349\n102.6700\n1.1095\n1.3397\nJul\n14.4277\n10.7892\n103.9398\n1.1069\n1.3180\nAug\n13.7656\n9.4521\n101.2190\n1.0960\n1.2280\nSep\n13.9200\n10.5800\n101.6000\n1.1200\n1.3200\nOct\n13.9400\n10.6500\n103.7600\n1.0989\n1.2346\nNov\n13.9402\n10.6875\n107.9934\n1.0811\n1.2430\nDec\n13.8416\n10.7247\n115.7895\n1.0556\n1.2509\n2017\nJan\n13.5146\n10.5652\n113.4750\n1.0701\n1.2516\nFeb\n12.9957\n10.3573\n112.5100\n1.0591\n1.2439\nMar\n13.5450\n10.5541\n111.8750\n1.0678\n1.2487\nApr\n13.3461\n10.4384\n111.1600\n1.0862\n1.2908\nMay\n13.1162\n10.2987\n110.9650\n1.1168\n1.2801\nJun\n13.0150\n10.2249\n111.9450\n1.1439\n1.3013\nSource: Reserve Bank of Zimbabwe, 2017\n TABLE 11 : SELECTED INTERNATIONAL EXCHANGE RATES\n1. Foreign currency per US dollar.\n2. US dollars per unit of foreign currency.\n \n \n \n29 \n \n \n \n \n \n \n \n \n \n \n \n \n \nMarket Capitalisation\nUS$ millions\n2016\nJan\n103.0\n19.5\n10.4\n61,882,757\n2,790.4\nFeb\n99.4\n19.1\n15.6\n95,020,938\n2,692.3\nMar\n97.6\n19.4\n16.4\n97,601,725\n2,645.1\nApr\n105.8\n20.2\n14.0\n187,848,946\n2,862.6\nMay\n104.7\n25.5\n13.9\n99,055,230\n2,881.3\nJun\n101.0\n24.7\n18.1\n88,525,472\n2,780.9\nJul\n98.8\n25.7\n11.8\n57,222,624\n2,772.0\nAug\n99.5\n26.3\n7.1\n41,264,438\n2,734.3\nSep\n98.9\n26.6\n13.0\n68,329,516\n2,725.1\nOct\n120.8\n33.8\n22.6\n177,384,684\n3,328.3\nNov\n137.1\n57.4\n23.5\n233,749,377\n3,804.6\nDec\n144.5\n58.5\n26.0\n292,538,969\n4,008.0\n2017\nJan\n140.2\n56.3\n8.6\n31,616,982\n3,903.7\nFeb\n135.3\n56.5\n11.5\n85,314,995\n3,770.0\nMar\n139.0\n58.6\n26.9\n145,238,255\n3,871.3\nApr\n143.0\n66.3\n11.2\n75,857,712\n4,182.8\nMay\n162.3\n69.6\n16.8\n170,830,515\n4,740.1\nJun\n196.0\n69.8\n39.7\n311,145,262\n5,695.2\nSource:Zimbabwe Stock Exchange (ZSE),2017\nTABLE 12: ZIMBABWE STOCK MARKET STATISTICS\nIndustrial\n Market Turnover \nUS$ million \nVolume of Shares\nMining\nIndices\n \n \n \n30 \n \n \n \n \n \n \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE INTERNET\n2016\nJan\n 3,385.9 \n11.1\n137.4\n331.5\n388.9\n167.7\nFeb\n 3,448.2 \n11.9\n138.8\n312.1\n389.3\n167.9\nMar\n 3,460.2 \n11.3\n142.1\n288.8\n417.1\n255.9\nApr\n 3,564.3 \n9.7\n180.1\n247.6\n427.3\n168.3\nMay\n 3,869.2 \n10.8\n214.8\n203.3\n479.9\n217.9\nJun\n 4,522.2 \n10.3\n203.9\n131.4\n465.1\n174.1\nJul\n 3,911.8 \n9.2\n240.0\n166.3\n491.2\n218.0\nAug\n 3,928.7 \n7.9\n238.0\n165.9\n535.4\n230.6\nSep\n 4,382.9 \n10.5\n237.3\n167.7\n533.9\n215.9\nOct\n 4,127.6 \n8.0\n322.8\n112.5\n524.5\n216.0\nNov\n 4,624.7 \n6.9\n363.4\n84.5\n537.2\n229.9\nDec\n 4,882.6 \n5.6\n479.9\n71.9\n626.1\n265.1\n2017\nJan\n 4,052.7 \n7.5\n368.7\n70.4\n495.6\n318.9\nFeb\n 4,246.6 \n7.0\n327.3\n58.4\n472.3\n324.1\nMar\n 4,629.8 \n7.4\n392.2\n58.8\n671.6\n399.7\nApr\n 4,178.8 \n4.8\n466.9\n39.3\n792.5\n337.6\nMay\n 4,974.0 \n6.5\n557.8\n44.7\n939.9\n618.7\nJun\n 5,346.4 \n6.3\n558.8\n34.6\n1095.5\n500.3\nSource:Reserve Bank of Zimbabwe, 2017\nTABLE 13.1 : ZETSS AND RETAIL PAYMENTS \n Values of Transactions (US$ millions)\n \n \n \n31 \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2016\nJan\n132.3\n24.6\n1328.9\n1104.4\n 19,956.1 \n49.9\nFeb\n148.4\n30.3\n1289.5\n1067.1\n 19,793.7 \n54.6\nMar\n152.5\n29.6\n1455.7\n962.9\n 21,731.5 \n61.9\nApr\n161.7\n25.0\n1962.6\n841.3\n 21,086.6 \n59.9\nMay\n199.3\n29.1\n2779.9\n675.8\n 23,293.0 \n83.2\nJun\n268.2\n33.5\n3203.8\n741.9\n 23,321.2 \n88.0\nJul\n242.4\n31.1\n3946.3\n1052.8\n 24,538.8 \n102.7\nAug\n253.9\n27.8\n4038.1\n1156.4\n 26,009.6 \n109.5\nSep\n288.5\n32.5\n4421.9\n1188.5\n 27,300.0 \n100.0\nOct\n296.0\n29.2\n6247.4\n1106.4\n 29,801.7 \n117.9\nNov\n353.0\n30.6\n8691.2\n1086,9\n 28,542.1 \n128.8\nDec\n405.4\n24.4\n13042.1\n1348.0\n 33,211.8 \n155.9\nAnnual Total\n 2,901.5 \n347.7\n 52,407.5 11,245.7 298,586.2 \n1112.1\n2017\nJan\n 350.0 \n26.7\n 12,756.3 1,173.6 27,550.1 \n191.0\nFeb\n 326.3 \n27.8\n 8,952.0 953.5 26,820.1 \n207.0\nMay\n 414.2 \n31.0\n 11,124.0 922.2 35,604.1 \n244.1\nApr\n 363.7 \n21.6\n 13,595.5 652.9 40,089.0 \n231.0\nMay\n 531.8 \n27.8\n 16,623.4 820.6 47,019.1 \n323.3\nJun\n 525.0 \n29.3\n 17,466.2 696.9 53,738.1 \n342.1\nSource:Reserve Bank of Zimbabwe, 2017\nTABLE 13.2 : ZETSS AND RETAIL PAYMENTS \n Volumes of Transactions (000's)\n \n \n32 \n \n \n \n \n \nMonth\nExports\nImports\nTotal Trade\nTrade Balance\n2016\nJan\n249.18\n395.35\n644.52\n(146.17)\nFeb\n209.55\n427.73\n637.28\n(218.18)\nMar\n166.50\n478.06\n644.55\n(311.56)\nApr\n157.83\n356.48\n514.31\n(198.65)\nMay\n165.20\n408.49\n573.69\n(243.29)\nJun\n176.21\n429.41\n605.61\n(253.20)\nJul\n184.21\n394.23\n578.43\n(210.02)\nAug\n202.14\n445.03\n647.16\n(242.89)\nSep\n250.42\n443.89\n694.30\n(193.47)\nOct\n318.45\n468.06\n786.52\n(149.61)\nNov\n460.73\n475.33\n936.06\n(14.61)\nDec\n291.87\n489.37\n781.24\n(197.50)\nTotal\n2832.27\n5211.41\n8043.69\n(2379.14)\n2017\nJan\n257.80\n384.80\n642.60\n(127.00)\nFeb\n240.20\n424.40\n664.60\n(184.20)\nMar\n224.50\n461.60\n686.10\n(237.10)\nApr\n184.50\n405.20\n589.70\n(220.70)\nMay\n223.10\n466.00\n689.10\n(242.90)\nJun\n204.03\n495.19\n699.22\n(291.17)\nSource: Zimstat, 2017\nTABLE 14 : MERCHANDISE TRADE STATISTICS\n (US$ millions)", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/June2017.pdf"}

dedup/cb_requests/128428a88fa19e564d723cf3c72bf133.json

@@ -0,0 +1 @@
+{"doc_id": "128428a88fa19e564d723cf3c72bf133", "text": "MPC Statement 22 July 2021 \nPage 1 \n \n \n \n \nPRESS STATEMENT \n22 July 2021 \n \n \nSTATEMENT OF THE MONETARY POLICY COMMITTEE \n \nIssued by Lesetja Kganyago, Governor of the South African Reserve Bank \nDespite steady improvements in vaccination rates, stronger confidence and better \nglobal economic growth, the Covid-19 virus continues to weigh on global prospects. \nVaccination rates are lagging in many emerging market and developing countries. \nUntil populations develop sufficient immunity to curb virus transmission, waves of \ninfection are likely to continue. As indicated by South Africa’s public health authorities, \na third wave of virus infection is currently peaking. Additionally, by raising uncertainty \nand reducing investor confidence, the recent unrest in parts of the country is likely to \nslow our ongoing recovery. \nLockdowns and other restrictive measures that remain in place in a number of \ncountries will continue to weigh on economic activity, particularly in sectors dependent \non close contact, such as travel, tourism, hospitality and leisure. The International \nMonetary Fund’s (IMF) April forecast for global gross domestic product (GDP) for 2021 \nMPC Statement 22 July 2021 \nPage 2 \n \nis 6.0%, and will be updated later this month. The SARB’s forecast for global growth \nin 2021 now sits at 6.1%.1 For 2022, we expect global growth of 4.4% and 3.4% in \n2023. Recoveries in emerging market and developing economies are expected to lag \nthose in advanced economies, in large part due to a slower pace of vaccinations. \nAlthough policy settings in advanced economies remain accommodative, the spread \nof the Delta variant, higher global inflation, and uncertainty about the normalisation \npath for interest rates continue to cause financial market and capital flow volatility. This \nis reflected in persistent risk aversion, especially towards emerging market economies \nthat fail to take advantage of improved global prospects or run large macroeconomic \nimbalances. \nThe domestic economy grew by 4.6% in the first quarter of 2021, much stronger than \nthe 2.7% expected at the time of our May meeting. That outcome reflected better \nsectoral growth performances and robust terms of trade. Commodity prices have \nremained high, sustaining income gains despite higher oil prices. \nHowever, recent unrest and economic damage could have lasting effects on investor \nconfidence and job creation. We estimate the unrest to have fully negated the better \ngrowth results from the first quarter, resulting in an unchanged estimate of 4.2% for \ngrowth in 2021. \nThe direct and indirect costs of recent events will likely further slow South Africa’s \neconomic recovery. Although some sectors, notably mining and manufacturing have \nlargely recovered to pre-pandemic levels, production remains muted in sectors harder \nhit by the pandemic and in regions now affected by the unrest. The Bank’s investment \n \n1 Global growth in the QPM model is a trade-weighted average of South Africa’s trading partners. The IMF’s \nglobal forecast for 2022 sits at 4.4%. \nMPC Statement 22 July 2021 \nPage 3 \n \nforecast was revised up for this year but remains constrained. Household spending is \nstill expected to be healthy, in line with better than expected salaries and wages, rising \nasset prices and low interest rates. \nGDP is expected to grow by 2.3% in 2022 and by 2.4% in 2023, unchanged since the \nMay meeting. \nOverall, and after revisions, the risks to the medium-term domestic growth outlook are \nassessed to be balanced. High export prices, stronger household incomes and a \nsomewhat better investment outlook are backed up by generally supportive global \nconditions, despite ongoing financial volatility. Recent events in the country, their \nimpact on vaccinations, a longer than expected lockdown, limited energy supply and \npolicy uncertainty pose downside risks to growth. \nThe current account surplus remains substantial and reflects good growth and higher \nprices for exports, still moderate prices for imported oil, and slowly reviving demand \nfor imported consumer and investment goods. This surplus is expected to give way to \na modest current account deficit by next year (2022), as exports slow and imports \naccelerate.2 Although financing conditions have improved and fiscal risk has eased, \nthe yield curve for rand-denominated bonds remains steep. Long bond yields have \nreturned to pre-pandemic levels of around 9.0% on 10-year bonds. \nThe generally favourable global conditions and strong commodity export prices have \nkept the currency close to its long-run equilibrium level, with a year to date appreciation \nof 4% on a trade-weighted basis. Since the May meeting, the rand has depreciated \n \n2 The current account is expected to be in surplus of 3.7% of GDP in 2021, shifting to a deficit of -0.1% in 2022. \nMPC Statement 22 July 2021 \nPage 4 \n \nby 0.5% on a trade-weighted basis. The implied starting point for the rand forecast is \nR14.40 to the US dollar, compared with R14.46 at the time of the previous meeting. \nAt a global level, a wide range of prices is accelerating, including raw materials, \nintermediate inputs and food, reflecting both global supply shortages and rising \ndemand. So far, this has had relatively limited pass-through to consumer prices. Our \nestimate for inflation in the G3 economies was revised slightly higher for 2021 to 2.2% \n(from 2.0%) and lower in the outer years.3 \nOil prices are revised up, and petrol price inflation is sharply higher at 15.3% (up from \n12.5%).4 Local electricity prices are unchanged at 10.6%. \nHeadline consumer price inflation for 2021 is revised slightly higher to 4.3% (up from \n4.2%), and revised lower to 4.2% (from 4.4%) in 2022. For 2023, headline consumer \nprice inflation remains unchanged at 4.5%. \nThe forecast for core inflation is revised lower to 2.9% in 2021 (down from 3.0%) and \nto 3.7% in 2022 (down from 4.0%). Core inflation is expected to be 4.3% in 2023, \nunchanged from the May forecast. \nThe Bank’s forecast reflects higher food and petrol prices that push up near term \nheadline inflation, before moderating in the latter half of this year and into 2022. \nCompared to the May meeting, the current growth forecast implies a wider output gap \nin the near term. While economic activity strengthens over the forecast period, the \n \n3 The G3 comprises the United States, the Eurozone, and Japan. \n4 The forecast for petrol prices in 2022 are revised up from 3.9% in May to 5.5% currently. Our assumptions are \nnow for oil prices to average $66 per barrel in 2021 and $65 per barrel in 2022 and $63 in 2023. \nMPC Statement 22 July 2021 \nPage 5 \n \ncurrent exchange rate level and modest growth in unit labour costs contain the \nexpected rise in core inflation. \nThe risks to the short-term inflation outlook are assessed to the upside, despite weaker \nthan expected services inflation outcomes in recent months. Rapid global producer \nprice inflation and supply shortages created by disruptions to local transport networks \nincrease these inflation risks. Food price inflation, already very high globally, surprised \nto the upside in recent months. Petrol, electricity and other administered prices also \ncontinue to present short-term risks. \nAverage surveyed expectations of future inflation have increased by 0.3 percentage \npoints, to 4.2% for 2021 and by 0.2 percentage points, to 4.4% for 2022. Market-\nbased expectations for inflation are slightly higher for 2021 and lower over longer \nhorizons.5 \nGiven the medium and long-term projections set out above, a weaker currency, higher \ndomestic import tariffs, and escalating wage demands present longer-term upside \nrisks to the inflation forecast. \nDespite higher expectations and continued upside risks, the Committee expects \ninflation to be contained in 2021 and 2022, before rising to around the midpoint of the \ninflation target range in 2023. \n \n5 The (Q2) Bureau for Economic Research (BER) survey expectations for 2021 rose to 4.2% (up from 3.9%), to \n4.4% from 4.2% for 2022, and to 4.5% from 4.4% for 2023. Market analysts (Reuters Econometer) in July \nexpect inflation to be higher at 4.3% (from 4.2%) in 2021, and 4.4% in 2022, up from 4.3%, and unchanged at \n4.4% in 2023. Market-based rates are calculated from the break-even inflation rate, which is the yield \ndifferential between conventional and inflation-linked bonds. These now sit at 4.6% for the 5-year and 5.88% \non the 10-year breakeven. 15-year breakeven inflation sits at 6.37%. \n \nMPC Statement 22 July 2021 \nPage 6 \n \nAgainst this backdrop, the MPC decided to keep rates unchanged at 3.5% per annum. \nThe decision was unanimous. \nThe implied policy rate path of the Quarterly Projection Model (QPM) indicates an \nincrease of 25 basis points in the fourth quarter of 2021 and in each quarter of 2022. \nThese repurchase rate levels reflect a highly accommodative policy stance through \nthe end of 2022, keeping financial conditions supportive of credit demand as the \neconomy recovers from the pandemic and associated lockdowns.6 The Bank has \nensured adequate liquidity in domestic markets and will continue to closely monitor \nfunding markets for stress. In addition, regulatory relief provided to banks continues \nto support lending to households and firms. \nBetter anchored expectations of future inflation could keep interest rates lower for \nlonger, and can be realised by achieving a stable public debt level, increasing the \nsupply of energy, moderating administered price inflation and keeping wage inflation \nlow into the recovery. Such steps will enhance the effectiveness of monetary policy \nand its transmission to the broader economy. \nEconomic and financial conditions are expected to remain volatile for the foreseeable \nfuture. In this uncertain environment, policy decisions will continue to be data \ndependent and sensitive to the balance of risks to the outlook. The MPC will seek to \nlook through temporary price shocks and focus on second round effects. As usual, \nthe repo rate projection from the QPM remains a broad policy guide, changing from \nmeeting to meeting in response to new data and risks. \n \n6 This implies a rise in the inflation-adjusted repo rate from about -1.0% for 2021 to about 0.5% by the end of \n2022. The real repurchase rate calculation here is based on the 1-quarter ahead inflation forecast. \nMPC Statement 22 July 2021 \nPage 7 \n \n \nLesetja Kganyago \nGOVERNOR \nThe next statement of the Monetary Policy Committee will be released on 23 \nSeptember 2021. \n \nContact person: \nThoraya Pandy \n0824168416 \nmedia@resbank.co.za", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/Statement of the Monetary Policy Committee July 2021.pdf"}

dedup/cb_requests/12dde9de49e712fb145d37c36061b888.json

@@ -0,0 +1 @@
+{"doc_id": "12dde9de49e712fb145d37c36061b888", "text": "PUBLIC \n1 \nPUBLIC \n \n \nBANK OF GHANA \nMONETARY POLICY COMMITTEE \nPRESS RELEASE \nJuly 18, 2025 \n \nThe Monetary Policy Committee (MPC) of the Bank of Ghana held an emergency meeting on Thursday, \nJuly 17, 2025, to determine whether current conditions warranted any immediate action ahead of the \nscheduled 125th MPC meetings later this month. This is in line with our commitment to proactive and \nresponsive policy formulation. \n \nThe Committee observed that: \n \n1. The disinflation momentum has strengthened, with headline inflation falling steadily for six \nconsecutive months to 13.7 percent in June 2025, down from 23.8 percent in December 2024. Core \ninflation measures also show a re-anchoring of expectations. \n2. Real sector performance remains strong, with real GDP growth reaching 5.3 percent in the first \nquarter of 2025. Non-oil GDP growth was stronger at 6.8 percent, driven by robust activity in \nagriculture and services sectors. \n3. The external sector continues to strengthen, with a provisional trade surplus of US$5.6 billion and \na current account surplus of US$3.4 billion in the first half of 2025, compared with US$1.4 billion \nand US$283.1 million, respectively, in the first half of 2024. These gains have contributed to higher \nreserve accumulation. \n4. Gross international reserves improved to US$11.1 billion as at end-June 2025, equivalent to 4.8 \nmonths of import cover, from US$8.98 billion at end-2024. \n5. The cedi has appreciated significantly, gaining 42.6 percent, year-to-date, against the US dollar, \nsupported by strong foreign exchange inflows from gold and cocoa exports, remittances, improved \ninvestor sentiments, and prudent policy implementation. \n6. The global environment remains uncertain. Growth momentum is weakening, and is projected to \nslow to 2.8 percent in 2025, from 3.3 percent in 2024. Global financial conditions remain tight, \nand disinflation, though ongoing, is expected to proceed unevenly. \nOverall, the Committee noted significant improvements in the current macroeconomic conditions and the \npositive outlook. Inflation expectations are broadly anchored, external buffers have strengthened, and \nconfidence in the economy is returning. The Committee reaffirmed its commitment to support the recovery \nprocess without compromising the gains achieved so far. \nThe next regular MPC meeting will be held from Monday, July 28, 2025, and conclude on Wednesday, \nJuly 30, 2025, with announcement of the policy decision, as scheduled. \n \nEND.", "source": "BOG", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/Emergency-MPC-Press-Release-July-18-2025-.pdf"}

dedup/cb_requests/136ead2b4ecb811777695d5d0ec75bde.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/Monthly_Economic_Reviews/Monthly-Economic-Review-August-2021.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "Monthly-Economic-Review-August-2021.pdf", "subfolder": "SARB\\Monthly_Economic_Reviews", "token_count": 13805}

dedup/cb_requests/1406fed5e5bd37a3afcee28392e8372a.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/MPC_Statements/May2016.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "May2016.pdf", "subfolder": "SARB\\MPC_Statements", "token_count": 7501}

dedup/cb_requests/14b74e0091cb25d2100ec5772a88f169.json

@@ -0,0 +1 @@
+{"url": "https://www.resbank.co.za/en/home/publications/publication-detail-pages/speeches/speeches-by-governors/2024/sarb-governor-lesetja-kganyago-stellenbosch-university-special-guest-lecture", "source": "SARB", "fetch_date": "2026-04-27", "date": "2024-10-17", "token_count": 205}

dedup/cb_requests/150972ad5f8f02a3ae5b2aa8e52d812c.json

@@ -0,0 +1 @@
+{"url": "file:///CBN/Annual_Reports/2019 Statistical Bulletin Financial Statistics.pdf", "source": "CBN", "fetch_date": "2026-05-11", "filename": "2019 Statistical Bulletin Financial Statistics.pdf", "subfolder": "CBN\\Annual_Reports", "token_count": 11591}

dedup/cb_requests/15adc4c7fb8c9af351075777f3fb13c8.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/Monetary_Policy_Reports/Monetary-Policy-Report-July-2025.pdf", "source": "BOG", "fetch_date": "2026-05-11", "filename": "Monetary-Policy-Report-July-2025.pdf", "subfolder": "SARB\\Monetary_Policy_Reports", "token_count": 21047}

dedup/cb_requests/1af4768b1aa6b0434620487351c21b1a.json

@@ -0,0 +1 @@
+{"doc_id": "1af4768b1aa6b0434620487351c21b1a", "text": "[Date] \n \n \n \n \nJanuary 2015 \n \n \ni\nMONTHLY ECONOMIC REVIEW\nTABLE OF CONTENTS \n \nSELECTED ECONOMIC INDICATORS ________________________________________ 1 \nSTOCK MARKET DEVELOPMENTS __________________________________________ 2 \nMONETARY DEVELOPMENTS _______________________________________________ 2 \nINFLATION OUTTURN ______________________________________________________ 4 \nAnnual Inflation __________________________________________________________________ 4 \nMonthly Inflation _________________________________________________________________ 5 \nNATIONAL PAYMENTS SYSTEM _____________________________________________ 5 \nZimbabwe Electronic Transfer Settlement System (ZETSS) ______________________________ 5 \nCard Based Transactions ___________________________________________________________ 5 \nMobile and Internet Based Transactions ______________________________________________ 5 \nCheque Transactions ______________________________________________________________ 5 \n \n \n \n \n \n \n1\n \nMONTHLY ECONOMIC REVIEW\n \n \n \n2014 \nDecember \n2015 \nJanuary \nMonth-on- \nMonth \nChange \nZ.S.E. Mining Index1 \n71.71 \n58.13 \n-18.94% \nZ.S.E. Industrial Index1 \n162.79 \n164.90 \n1.30% \n*Money Supply (US$)2 \n4.40 billion \n4.34 billion \n \n*Money Supply (M3) Annual Growth2 \n11.97% \n11.61% \n-1.44 \nYearly Inflation3 \n-0.80% \n-1.28% \n-0.34% \nNominal Lending Rate \n6.00-35.00% \n6.00-35.00% \n \nSources: \n1 Zimbabwe Stock Exchange (ZSE) \n2 Reserve Bank of Zimbabwe (RBZ) \n3 Zimbabwe National Statistics Agency (ZIMSTAT) \n* Provisional figures \n \n \n \n \nSELECTED ECONOMIC INDICATORS \n \n \n2\n \nMONTHLY ECONOMIC REVIEW\nSTOCK MARKET DEVELOPMENTS \n \nMixed developments characterized global capital \nmarkets during the month of January 2015. In the \nUnited States, the main industrial indices were lower, \nlargely due to concerns about global economic \ngrowth. European equity markets, however, rose as a \nresult of the European Central Bank (ECB) \nconfirming that it will implement a Quantitative \nEasing Programme (QEP). \nAfrican equity markets also opened 2015 with mixed \nperformances, with continued strong performance in \nEgypt and weakness in Nigeria. Egypt continued to \nrise, gaining 10.3% in the first month of 2015, largely \ndue to its economic recovery, coupled with an \nupgrade in its credit rating. The Nigerian stock market \ncontinued on a downward trend, on the back of \ndeclines in oil prices. Over the same period, South \nAfrica and Kenya registered respective gains of 3% \nand 1.9%. \nOn the domestic front, trading on the Zimbabwe \nStock Exchange (ZSE) was also characterized by \nmixed trading, as the industrial index registered gains, \nwhilst the mining index fell. Gains in the industrial \nindex were largely anchored on increases in the \nheavily capitalized counters. The industrial index \ngained a marginal 1.3%, to close the month under \nreview at 164.90 points. The mining index, however, \ndeclined by 18.94%, between December 2014 and \nJanuary 2015, to end the period under review at 58.13 \npoints. \n \n \nTrading volumes were thin during the period under \nreview, falling from 462.60 million shares in \nDecember 2014, to 55.36 million shares in January \n2015. Over the same period, the value of shares traded \ndeclined by 44.16% to US$16.26 million. \n \nSource: Zimbabwe Stock Exchange \nReflecting the thin trading in the market, during the \nmonth under review, market capitalization closed the \nmonth of January 2015 at US$4 365.14 million, up \nfrom US$4 327.06 million in December 2014. \nMONETARY DEVELOPMENTS \n \nMoney stock, as defined by consolidated deposits in \nthe banking system, which had plateaued around \nUS$4.4 billion during the last quarter of the 2014, \ndeclined to US$4 340.17 million in January 2015. On \nan annual basis, broad money rose by 11.61% from \nUS$3 888.65 million recorded in January 2014. \n0\n50\n100\n150\n200\n250\n04-Apr-12\n04-Jul-12\n04-Oct-12\n04-Jan-13\n04-Apr-13\n04-Jul-13\n04-Oct-13\n04-Jan-14\n04-Apr-14\n04-Jul-14\n04-Oct-14\n04-Jan-15\nZSE Indices\nIndustrial\nMining\n0\n0.5\n1\n1.5\n2\n2.5\n0\n1\n2\n3\n4\n5\n6\nVALUES TRADED (US$ MILLIONS)\nVOLUMES TRADED (MILLIONS)\nZSE: Daily Volumes and Values \nTraded\nVolume\nTurnover\nSource: Zimbabwe Stock Exchange \n \n \nMONTHLY ECONOMIC REVIEW \n3\n \n \nSource: Reserve Bank of Zimbabwe \nThe year-on-year growth in broad money emanated \nfrom expansions across most deposit categories, with \nlong term deposits growing by US$372.15 million; \nunder 30-day deposits, US$32.34 million; and \nsavings deposits, US$115.69 million. Demand \ndeposits, however, fell by US$69.26 million. \n \n \nDomestic credit grew by 6.16% in January 2015, from \nUS$3 985.91 million in January 2014, to US$4 \n231.50 million in January 2015. This was largely due \nto growth in net claims to Government and credit to \nthe private sector. \nAfter registering a 4% annual growth in December \n2014, credit to the private sector recorded a lower \ngrowth of 1.57%, from US$3 566.56 million in \nJanuary 2014 to US$3 622.50 million in January \n2015. Credit expansion was largely constrained by \npersistent liquidity challenges, high credit risk, and \nsluggish economic activity. \nNet credit to Government increased by 51.62%, from \nUS$358.80 million in January 2014, to US$544.03 \nmillion in January 2015. The increase was largely on \nthe back of issuances of Treasury bills by \nGovernment to supplement its revenue collections, \nand to retire part of accrued domestic debt. \n \nSource: Reserve Bank of Zimbabwe \nCredit to the private sector was made up of loans and \nadvances, 81.48%; mortgage advances 14.12%; other \ninvestments, 1.92%; bills discounted, 1.54%; and \nbankers’ acceptances, 0.93%. \nLoans and advances were largely channeled to \nagriculture (19.05%), manufacturing (17.12%) and \n-5\n0\n5\n10\n15\n20\n25\n30\n -\n 0.5\n 1.0\n 1.5\n 2.0\n 2.5\n 3.0\n 3.5\n 4.0\n 4.5\n 5.0\nJul\nSep\nNov\nJan\nMar\nMay\nJul\nSep\nNov\nJan\nMar\nMay\nJul\nSep\nNov\nJan\n%\nUS$ BILLIONS\nMoney Supply\nM3\nM3 Annual Growth\nShort \nTerm\n17%\nLong Term \n23%\nDemand\n46%\nSavings\n14%\nBanking Sector Deposits\nJanuary 2015\nLoans&Advances\n81.48%\nBills \nDiscounted\n1.54%\nBankers \nacceptances\n0.93%\nOther \ninvestments\n1.92%\nMortgages\n14.12%\nCredit to Private Sector\nJanuary 2015\nSource: Reserve Bank of Zimbabwe \n \n \nMONTHLY ECONOMIC REVIEW \n4\n \ndistribution (15.99%). Households accounted for \n16.55% of total loans and advances to the private \nsector. \nCredit to the private sector was mainly utilised for \nasset purchases, 41.74%; and inventory build-up, \n34.15%. Loans and advances utilised for capital \ninvestment remained low, with the procurement of \nplant and equipment accounting for 3.62% and pre \nand post shipment financing at 0.55% of total loans \nand advances. \nSectorally, credit was mainly channeled to agriculture \n(18.81%); \nmanufacturing \n(15.77%); \nservices \n(15.29%); distribution (15.05%); mining (7.01%); \nfinancial (5.16%); transport and communications \n(2.97%); and construction (1.58%). Households \naccounted for 18.81% of total credit to the private \nsector. \nINFLATION OUTTURN \n \nAnnual Inflation \n \nDomestic inflation developments continued to be \ninfluenced by developments in international oil \nprices; the rand /US dollar exchange rate; world food \nprices; and domestic demand. \nCrude oil prices have been on a declining trend since \nJuly 2014. This was on account of increases in US \nshale production, weak demand and the decision by \nthe Organization for Petroleum Exporting Countries \n(OPEC) producers not to cut output to bolster prices. \n \nThe South African rand continued to be highly \nvolatile, depreciating from around ZAR10/US dollar \nin May 2014, to current levels of about ZAR12 to the \nUS dollar. This continued to dampen inflationary \npressures in the domestic economy. \n \n \nAnnual headline inflation continued on a downward \ntrend and stood at -1.28% in January 2015, compared \nto -0.8% in December 2014. The downward trend of \nprices is expected to continue as implied by the \nquarterly annualized inflation which has been in \nnegative territory since July 2014. \nCore inflation, which measures long-run trend in \nprice levels, slid into negative for the first time, \nregistering -0.57% in January 2015. The declining \ninflation reflected dissipating underlying inflationary \npressures in the economy. \nAnnual food inflation has remained in negative \nterritory since September 2014, registering -2.74% in \nJanuary 2015, from -2.71% in December 2014. The \nnegative annual food inflation largely emanated from \ndeclines in prices of bread and cereals as well as \nvegetables, among others. \nAnnual non-food inflation declined to -0.57% in \nJanuary 2015, from 0.13% in December 2014. The \ndeceleration was mainly driven by a -0.47% decline \nin the communications category. This followed a 35% \nslash in tariffs for voice calls from US$0.23/minute to \nUS$0.15/minute \nacross \nall \nmobile \nnetworks. \nPartially offsetting the declines were increases in fees \n30\n50\n70\n90\n110\n130\n2-Jan\n23-Jan\n13-Feb\n6-Mar\n27-Mar\n17-Apr\n13-May\n4-Jun\n25-Jun\n16-Jul\n6-Aug\n29-Aug\n19-Sep\n10-Oct\n31-Oct\n21-Nov\n5-Jan\n26-Jan\nCrude Oil Prices (US$/barrel)\n9.2\n9.7\n10.2\n10.7\n11.2\n11.7\n21-Aug-13\n22-Sep-13\n24-Oct-13\n25-Nov-13\n27-Dec-13\n28-Jan-14\n01-Mar-14\n02-Apr-14\n04-May-14\n05-Jun-14\n07-Jul-14\n08-Aug-14\n09-Sep-14\n11-Oct-14\n12-Nov-14\n14-Dec-14\n15-Jan-15\nRand/US Dollar Exchange Rate\nSource: BBC, KITCO \nSource: RBZ, January 2015 \n \n \nMONTHLY ECONOMIC REVIEW \n5\n \nfor secondary education (9.54%); hospital fees \n(3.13%); dental services (5.26%); as well as fuels and \nlubricants (2.47%). \n \nSource: Zimbabwe Statistics Agency \nMonthly Inflation \nMonth-on-month inflation stood at -0.34% in January \n2015, from -0.09% in December 2014, largely \nattributed to a slowdown in prices of non-food \ninflation items. \nMonthly food inflation increased from -0.36% in \nDecember 2014 to 0.40% in January 2015, on the \nback of increases in all items except sugar, jam, \nhoney, chocolate and confectionery category. \nMonthly non-food inflation fell from 0.04% in \nDecember 2014 to -0.69% in January 2015. This was \ndriven by declines in transport, in particular purchase \nof motor vehicles (-4.16%). \n \nNATIONAL PAYMENTS SYSTEM \n \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \nThe value of transactions processed through the \nnational \npayments \nsystem \ndecreased \nfrom \nUS$4.6 billion in December 2014 to US$3.7 billion \nin January 2015. Over the same period, the volume of \ntransactions declined by 10%, from 189 831 to \n170 774. \nSource: Reserve Bank of Zimbabwe \nCard Based Transactions \nThe total value of card based transactions was lower \nat US$466.37 million in January 2015, compared to \nUS$466.37 million in December 2014. \nMobile and Internet Based Transactions \nThe total value of mobile and internet based \ntransactions also fell to US$465.64 million in January \n2015, from US$520.26 million in December 2014. \nCheque Transactions \nThe value of cheque transactions stood at US$11.81 \nmillion in January 2015, up from US$11.53 million \nin December 2014. \n \n \n \n \n \nRESERVE BANK OF ZIMBABWE \nJANUARY 2015\n-4\n-3\n-2\n-1\n0\n1\n2\n3\n4\n5\n6\nJan-13\nFeb-13\nMar-13\nApr-13\nMay-13\nJun-13\nJul-13\nAug-13\nSep-13\nOct-13\nNov-13\nDec-13\nJan-14\nFeb-14\nMar-14\nApr-14\nMay-14\nJun-14\nJul-14\nAug-14\nSep-14\nOct-14\nNov-14\nDec-14\nJan-15\nAnnual Inflation \n(%)\nHeadline Inflation\nFood\nNon Food\n -\n 0.5\n 1.0\n 1.5\n 2.0\n 2.5\n 3.0\n 3.5\n 4.0\n 4.5\n 5.0\nJan-12\nMay-12\nSep-12\nJan-13\nMay-13\nSep-13\nJan-14\nMay-14\nSep-14\nJan-15\n -\n 50\n 100\n 150\n 200\n 250\nVALUE IN US$ BILLIONS\nVOLUME IN THOUSANDS\nZETSS Volumes and Values\nVolume\nValue\n \n \n6\n \nMONTHLY ECONOMIC REVIEW\nStatistical Tables \n \n \n1. Monetary Statistics \n \n1.1 Monetary Aggregates \n \n \n \n \n \n 8 \n \n1.2 Broad Money Survey \n \n \n \n \n \n 9 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n10 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n11 \n \n 2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 12 \n \n2.2 Sectoral Analysis of Commercial Banks Deposits \n \n13 \n \n \n \n3. External Statistics \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n14 \n \n4. Interest Rates \n \n4.1 Lending Rates \n \n \n \n \n \n \n15 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n16 \n   \n5. Inflation \n \n5.1 Monthly Inflation \n \n \n \n \n \n17 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n18 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n19 \n \n7. Commercial Banks \n \n7.1 Assets \n \n \n \n \n \n \n \n20 \n \n7.2 Liabilities \n \n \n \n \n \n \n21 \n \n \nMONTHLY ECONOMIC REVIEW \n7\n \n8. Accepting Houses \n \n8.1 Assets \n \n \n \n \n \n \n \n22 \n \n8.2 Liabilities \n \n \n \n \n \n \n23 \n \n 9. Building Societies \n \n9.1 Assets \n \n \n \n \n \n \n \n24 \n \n9.2 Liabilities \n \n \n \n \n \n \n25 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n26 \n \n11. Savings with Financial Institutions \n \n \n \n \n27 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n28 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n \n \n13.1 Values of Transactions \n \n \n \n \n29 \n \n13.2 Volumes of Transactions \n \n \n \n \n30 \n  \n \n \n \n \n \n \n \n \n \n \n \n \n \n8 \nMONTHLY ECONOMIC REVIEW\n \n \n \n \n \n \n \n \n \n2015\nNovember\nJanuary\nFebruary\nMarch\nApril\nMay\nJune\nJuly\nAugust\nSeptember\nOctober\nNovember\nDecember\nJanuary\nRBZ Demand Deposits\n72.6\n69.7\n71.1\n71.5\n71.5\n71.9\n96.6\n95.9\n95.8\n93.7\n94.4\n94.0\n144.5\n714.7\nComm. Banks Dem. Deposits\n1,821,288.9\n2,039,955.9\n1,974,493.8\n2,033,715.1\n2,130,063.2\n2,173,283.2\n2,120,102.4\n2,011,296.3\n2,084,005.9\n2,089,784.7\n2,162,566.6\n2,124,944.0\n2,121,401.6\n1,967,789.9\nMerchant Banks Dem. Deposits\n122,639.2\n36,792.2\n47,555.9\n41,037.1\n57,346.1\n42,779.8\n42,779.8\n42,560.1\n36,379.5\n40,922.6\n39,909.5\n39,446.4\n36,942.7\n39,049.7\nM1\n1,944,000.7\n2,076,817.8\n2,022,120.8\n2,074,823.7\n2,187,480.8\n2,216,134.9\n2,162,978.8\n2,053,952.3\n2,120,481.2\n2,130,801.0\n2,202,570.5\n2,164,484.4\n2,158,488.8\n2,008,121.3\nComm. Banks Savings Deposits\n201,724.6\n215,665.0\n230,541.1\n237,243.6\n233,539.2\n223,445.3\n253,857.5\n236,942.8\n256,908.6\n272,392.1\n252,758.2\n250,745.7\n267,179.5\n282,832.4\nBuilding Soc. Savings Deposits\n200,415.2\n196,806.6\n195,707.7\n202,936.6\n228,310.8\n241,398.4\n234,278.6\n228,203.4\n232,305.6\n230,155.7\n236,100.8\n253,699.7\n236,423.8\n233,498.2\nP O S B Savings Deposits\n60,845.4\n58,314.5\n58,920.4\n60,801.9\n66,479.0\n64,831.6\n68,218.1\n68,388.5\n68,651.3\n68,147.5\n65,414.5\n70,142.9\n69,601.1\n70,144.8\nComm. Banks U-30 Day Deposits\n605,429.9\n552,134.9\n596,106.0\n626,443.7\n661,815.1\n685,132.2\n669,439.9\n596,373.1\n629,496.8\n651,068.5\n686,998.0\n630,856.1\n654,559.9\n638,395.6\nMerchant Banks U-30 Day Deposits\n59,721.1\n47,277.8\n48,250.7\n48,387.9\n40,336.6\n34,572.1\n33,202.1\n33,787.2\n40,442.4\n33,929.0\n33,679.6\n33,288.9\n31,176.0\n40,928.2\nBuilding Soc. U- 30 Day Deposits\n118,360.9\n107,130.3\n112,927.5\n156,466.8\n115,037.7\n164,622.3\n175,432.1\n113,937.3\n126,458.5\n149,478.7\n116,270.3\n113,090.1\n144,211.5\n127,399.4\nM2\n3,190,497.8\n3,254,146.9\n3,264,574.2\n3,407,104.1\n3,532,999.2\n3,630,137.0\n3,597,407.0\n3,331,584.7\n3,474,744.4\n3,535,972.5\n3,593,792.1\n3,516,307.8\n3,561,640.5\n3,401,319.9\nComm. Banks O-30 Day Deposits\n328,511.0\n352,689.2\n468,960.6\n426,625.1\n408,961.7\n438,431.5\n489,568.8\n577,592.3\n516,231.3\n540,278.5\n492,200.3\n508,747.2\n449,703.8\n544,421.5\nMerchant Banks O-30 Day Deposits\n19,965.3\n5,665.1\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\nBuilding Soc. O- 30 Day Deposits\n244,283.7\n253,060.8\n264,395.8\n234,625.6\n262,711.8\n233,243.8\n212,224.9\n287,853.4\n304,479.1\n280,499.3\n337,930.1\n359,491.3\n365,334.8\n366,978.6\nBuilding Soc. Other Share Deposits\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\nP O S B Time Deposits\n12,586.1\n11,816.7\n12,582.4\n14,317.8\n14,519.3\n12,651.5\n13,098.6\n15,773.0\n15,354.3\n20,485.8\n22,070.6\n19,652.7\n15,174.4\n16,138.8\nM3\n3,807,110.4\n3,888,645.3\n4,021,779.6\n4,093,939.2\n4,230,458.6\n4,325,730.4\n4,323,565.9\n4,224,069.9\n4,322,075.8\n4,388,502.7\n4,457,259.7\n4,415,465.6\n4,403,120.1\n4,340,125.3\n2014\nTABLE 1.1 : MONETARY AGGREGATES\n US$ Thousands\n2013\n \n \nMONTHLY ECONOMIC REVIEW \n9 \n \n \n2015\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nNET FOREIGN ASSETS \n-846,622.1\n-799,433.7\n-816,838.4\n-695,843.6\n-585,616.7\n-595,417.7\n-701,074.2\n-627,733.6\n-536,234.0\n-598,846.1\n-767,824.4\n-1,750,112.7\n-714,190.6\n Assets\n1,009,920.7\n1,032,518.9\n1,021,388.4\n1,063,604.4\n1,190,209.8\n1,126,637.1\n1,027,150.0\n1,079,627.1\n1,105,902.8\n999,042.7\n827,514.2\n-132,686.9\n830,959.4\n Reserve Bank (RBZ)\n354,820.2\n365,075.8\n357,157.3\n359,859.4\n410,904.2\n374,556.5\n327,295.3\n411,681.6\n620,484.9\n508,155.9\n334,534.3\n-666,167.5\n356,661.9\n Deposit Money Banks (DMBs) \n610,318.8\n619,567.7\n585,124.3\n628,565.0\n700,802.8\n685,339.5\n623,693.1\n604,460.0\n414,981.4\n432,341.0\n416,989.8\n463,492.7\n405,880.7\n Other Banking Institutions (OBIs) \\1\n44,781.8\n47,875.4\n79,106.9\n75,180.0\n78,502.7\n66,741.0\n76,161.6\n63,485.5\n70,436.5\n58,545.8\n75,990.2\n69,987.9\n68,416.9\n Liabilities \\2\n-1,856,542.9\n-1,831,952.5\n-1,838,226.8\n-1,759,448.0\n-1,775,826.5\n-1,722,054.8\n-1,728,224.2\n-1,707,360.7\n-1,642,136.8\n-1,597,888.8\n-1,595,338.6\n-1,617,425.8\n-1,545,150.0\n RBZ\n1,148,693.8\n1,151,300.5\n1,152,604.9\n1,155,463.3\n1,152,736.3\n1,141,906.4\n1,136,091.5\n1,117,663.4\n1,037,740.5\n1,035,611.2\n1,030,053.8\n1,022,781.2\n1,007,096.0\n DMBs\n681,744.6\n655,537.7\n660,898.1\n579,093.6\n598,403.2\n545,347.3\n562,067.8\n553,968.9\n550,158.8\n508,060.2\n510,711.1\n540,423.0\n483,463.5\n OBIs\n26,104.5\n25,114.4\n24,723.8\n24,891.2\n24,687.0\n34,801.1\n30,065.0\n35,728.4\n54,237.5\n54,217.5\n54,573.7\n54,221.6\n54,590.6\nNET DOMESTIC ASSETS \n4,735,267.5\n4,821,213.2\n4,910,777.6\n4,926,302.1\n4,911,347.2\n4,918,983.6\n4,925,144.1\n4,949,809.4\n4,924,736.6\n5,056,105.8\n5,183,290.0\n5,130,451.6\n5,054,316.0\nDOMESTIC CREDIT\n3,954,914.2\n4,102,727.4\n4,180,109.0\n4,150,137.4\n4,138,311.2\n4,174,067.9\n4,205,226.6\n4,234,468.5\n4,267,183.2\n4,331,337.1\n4,352,932.2\n4,378,654.6\n4,231,495.4\n Claims on Government (net) \n327,805.9\n415,048.8\n490,233.2\n476,917.3\n468,461.4\n498,617.0\n423,988.3\n437,473.4\n442,435.9\n470,504.6\n462,425.7\n515,636.4\n544,026.1\n RBZ\n-1,181.7\n-1,181.8\n-1,179.6\n-1,178.8\n-1,178.9\n-1,179.1\n-46,158.3\n-25,974.8\n-35,915.4\n-14,433.2\n-14,031.5\n-25,063.7\n-12,594.0\n DMBs\n288,824.0\n376,067.1\n451,249.2\n437,932.6\n429,476.7\n459,632.5\n429,983.1\n411,866.1\n426,769.3\n433,084.8\n443,478.0\n487,962.9\n504,696.7\n OBIs\n40,163.5\n40,163.5\n40,163.5\n40,163.5\n40,163.5\n40,163.5\n40,163.5\n51,582.0\n51,582.0\n51,852.9\n32,979.1\n52,737.2\n51,923.4\n Claims on Public Enterprises \n60,553.0\n60,689.3\n79,528.0\n78,292.8\n78,383.6\n73,173.2\n77,393.8\n70,324.8\n72,390.6\n72,375.0\n66,661.0\n66,750.2\n64,967.7\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n DMBs\n60,553.0\n60,689.3\n79,528.0\n78,292.8\n78,383.6\n73,173.2\n77,393.8\n70,324.8\n72,390.6\n72,375.0\n66,661.0\n66,750.2\n64,967.7\n Agri-PEs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Other\n60,553.0\n60,689.3\n79,528.0\n78,292.8\n78,383.6\n73,173.2\n77,393.8\n70,324.8\n72,390.6\n72,375.0\n66,661.0\n66,750.2\n29,935.4\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Claims on Private Sector\n3,566,555.3\n3,626,989.2\n3,610,347.9\n3,594,927.4\n3,591,466.2\n3,602,277.7\n3,703,844.6\n3,726,670.4\n3,752,356.7\n3,788,457.5\n3,823,845.6\n3,796,268.1\n3,622,501.6\n RBZ\n35,116.1\n35,116.1\n34,745.1\n34,745.1\n34,745.1\n34,725.3\n34,725.3\n34,725.3\n34,726.3\n34,727.3\n34,725.3\n34,726.3\n34,725.3\n DMBs\n2,955,033.9\n3,016,585.0\n2,993,988.2\n2,968,560.6\n2,956,036.4\n2,955,853.5\n3,013,188.5\n3,016,709.8\n3,021,389.7\n3,016,750.9\n3,036,795.2\n3,010,101.6\n2,835,002.6\n OBIs\n576,405.3\n575,288.2\n581,614.6\n591,621.7\n600,684.7\n611,698.9\n655,930.8\n675,235.3\n696,240.7\n736,979.3\n752,325.1\n751,440.3\n752,773.8\nOTHER ITEMS (NET) \n780,353.3\n718,485.9\n730,668.6\n776,164.7\n773,035.9\n744,915.7\n719,917.4\n715,340.8\n657,553.4\n724,768.7\n830,357.8\n751,796.9\n822,820.5\nBROAD MONEY (M3) \n3,888,645.3\n4,021,779.6\n4,093,939.2\n4,230,458.5\n4,325,730.5\n4,323,565.9\n4,224,069.9\n4,322,075.8\n4,388,502.6\n4,457,259.7\n4,415,465.6\n4,403,120.1\n4,340,125.3\nUS$ Thousands\nTABLE 1.2 : BROAD MONEY SURVEY\n2014\n \n \nMONTHLY ECONOMIC REVIEW \n10 \n \n \n \n \n \n \n2015\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nNET FOREIGN ASSETS \n-36,449.8\n47,188.5\n-17,404.7\n120,994.8\n110,226.8\n-9,801.0\n-105,656.4\n73,340.6\n91,499.6\n-62,612.2\n-168,978.3\n40,492.9\n13,140.9\n Assets\n-32,245.2\n22,598.1\n-11,130.5\n42,216.0\n126,605.3\n-63,572.7\n-99,487.0\n52,477.1\n26,275.7\n-106,860.1\n-171,528.5\n62,580.1\n-59,134.8\n Reserve Bank (RBZ)\n16,332.4\n10,255.6\n-7,918.6\n2,702.2\n51,044.8\n-36,347.7\n-47,261.2\n84,386.3\n208,803.3\n-112,329.0\n-173,621.7\n22,079.4\n48.2\n Deposit Money Banks (DMBs)\n-33,241.3\n9,248.9\n-34,443.4\n43,440.8\n72,237.8\n-15,463.3\n-61,646.4\n-19,233.1\n-189,478.6\n17,359.6\n-15,351.2\n46,502.9\n-57,612.0\n Other Banking Institutions (OBIs) \\1\n-15,336.3\n3,093.6\n31,231.5\n-3,926.9\n3,322.7\n-11,761.7\n9,420.6\n-12,676.1\n6,951.0\n-11,890.7\n17,444.4\n-6,002.2\n-1,571.1\n Liabilities \\2\n-4,204.6\n24,590.3\n-6,274.3\n78,778.8\n-16,378.5\n53,771.7\n-6,169.4\n20,863.4\n65,223.9\n44,248.0\n2,550.2\n-22,087.1\n72,275.7\n RBZ\n-1,457.0\n2,606.7\n1,304.4\n2,858.4\n-2,727.0\n-10,829.9\n-5,814.9\n-18,428.0\n-79,922.9\n-2,129.4\n-5,557.4\n-7,272.6\n-15,685.2\n DMBs\n10,309.4\n-26,206.9\n5,360.4\n-81,804.5\n19,309.6\n-53,055.9\n16,720.4\n-8,098.8\n-3,810.2\n-42,098.6\n2,651.0\n29,711.9\n-56,959.6\n OBIs\n-4,647.8\n-990.1\n-390.5\n167.4\n-204.2\n10,114.1\n-4,736.2\n5,663.4\n18,509.2\n-20.0\n356.2\n-352.1\n369.0\nNET DOMESTIC ASSETS \\3\n-7,230.0\n85,945.8\n89,564.4\n15,524.5\n-14,954.9\n7,636.5\n6,160.4\n24,665.3\n-25,072.8\n131,369.2\n127,184.2\n-52,838.5\n-76,135.6\nDOMESTIC CREDIT\n-113,783.4\n147,813.2\n77,381.6\n-29,971.6\n-11,826.2\n35,756.7\n31,158.7\n29,241.9\n32,714.7\n64,153.8\n21,595.2\n25,722.4\n-147,159.2\n Claims on Government (net) \n-30,191.5\n87,242.9\n75,184.3\n-13,315.9\n-8,455.9\n30,155.7\n-74,628.7\n13,485.1\n4,962.5\n28,068.6\n-8,078.9\n53,210.7\n28,389.7\n RBZ\n0.7\n-0.1\n2.2\n0.8\n0.0\n-0.2\n-44,979.3\n20,183.6\n-9,940.6\n21,482.2\n401.6\n-11,032.2\n12,469.7\n DMBs\n-30,192.1\n87,243.1\n75,182.1\n-13,316.6\n-8,455.9\n30,155.8\n-29,649.5\n-18,117.0\n14,903.2\n6,315.6\n10,393.2\n44,484.8\n16,733.8\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n11,418.5\n0.0\n270.8\n-18,873.7\n19,758.1\n-813.8\n Claims on Public Enterprises \n-91.9\n136.3\n18,838.6\n-1,235.2\n90.9\n-5,210.4\n4,220.6\n-7,069.0\n2,065.8\n-15.6\n-5,714.0\n89.2\n-1,782.4\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n DMBs\n-91.9\n136.3\n18,838.6\n-1,235.2\n90.9\n-5,210.4\n4,220.6\n-7,069.0\n2,065.8\n-15.6\n-5,714.0\n89.2\n-1,782.4\n Agri-PEs\n-5,005.2\n-5,006.2\n-5,007.2\n-5,008.2\n-6,898.8\n-6,908.9\n-6,909.9\n-6,910.9\n-1,514.5\n-1,515.5\n-1,515.5\n-1,516.5\n-1,517.5\n Other\n4,913.3\n5,142.5\n23,845.8\n3,773.0\n6,989.7\n1,698.5\n11,130.5\n-158.1\n3,580.4\n1,499.9\n-4,198.5\n1,605.7\n-264.9\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Claims on Private Sector\n-83,500.0\n60,434.0\n-16,641.3\n-15,420.5\n-3,461.1\n10,811.4\n101,566.9\n22,825.8\n25,686.3\n36,100.8\n35,388.1\n-27,577.5\n-173,766.5\n RBZ\n0.0\n0.0\n-371.0\n0.0\n0.0\n-19.8\n0.0\n0.0\n1.0\n1.0\n-2.0\n1.0\n-1.0\n DMBs\n-98,611.4\n61,551.1\n-22,596.8\n-25,427.6\n-12,524.1\n-182.9\n57,335.0\n3,521.2\n4,680.0\n-4,638.8\n20,044.3\n-26,693.6\n-175,099.0\n OBIs\n15,111.4\n-1,117.1\n6,326.4\n10,007.1\n9,063.0\n11,014.2\n44,231.9\n19,304.6\n21,005.3\n40,738.6\n15,345.8\n-884.9\n1,333.5\nOTHER ITEMS (NET) \n106,553.4\n-61,867.4\n12,182.7\n45,496.1\n-3,128.7\n-28,120.2\n-24,998.3\n-4,576.6\n-57,787.4\n67,215.3\n105,589.1\n-78,560.9\n71,023.6\nBROAD MONEY (M3) \n-43,679.7\n133,134.2\n72,159.7\n136,519.3\n95,271.9\n-2,164.5\n-99,496.0\n98,005.9\n66,426.9\n68,757.0\n-41,794.1\n-12,345.5\n-62,994.7\n Broad Money (M3) \n-1.1%\n3.4%\n1.8%\n3.3%\n2.3%\n-0.1%\n-2.3%\n2.3%\n1.5%\n1.6%\n-0.9%\n-0.3%\n-1.4%\n Domestic Credit \n-2.8%\n3.7%\n1.9%\n-0.7%\n-0.3%\n0.9%\n0.7%\n0.7%\n0.8%\n1.5%\n0.5%\n0.6%\n-3.4%\n Claims on Private Sector\n-2.3%\n1.7%\n-0.5%\n-0.4%\n-0.1%\n0.3%\n2.8%\n0.6%\n0.7%\n1.0%\n0.9%\n-0.7%\n-4.6%\n2014\n US$ Thousands\nTABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3)\n \n \nMONTHLY ECONOMIC REVIEW \n11 \n \n \n2015\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nNET FOREIGN ASSETS \n-360,978.8\n-320,764.6\n-189,743.9\n-218,632.9\n-97,000.4\n174,984.2\n121,341.3\n256,709.5\n278,254.4\n251,490.3\n233,974.4\n82,840.8\n132,431.5\n Assets\n15,108.1\n43,943.2\n153,988.8\n80,414.9\n124,519.6\n132,134.9\n59,355.9\n147,638.2\n30,394.8\n4,716.6\n-29,140.7\n-152,071.7\n-178,961.3\n Reserve Bank (RBZ)\n-99,525.9\n-56,803.4\n-9,935.5\n-52,295.6\n-60,760.6\n-87,240.5\n-35,011.5\n124,065.4\n275,699.8\n185,705.6\n69,707.4\n18,125.8\n1,841.7\n Deposit Money Banks (DMBs)\n103,167.4\n90,271.2\n115,289.4\n91,118.6\n153,245.8\n197,101.5\n87,011.4\n37,263.5\n-248,474.2\n-168,281.7\n-114,069.3\n-180,067.4\n-204,438.1\n Other Banking Institutions (OBIs) \\1\n11,466.5\n10,475.5\n48,635.0\n41,591.9\n32,034.3\n22,274.0\n7,356.1\n-13,690.7\n3,169.2\n-12,707.3\n15,221.1\n9,869.9\n23,635.1\n Liabilities \\2\n-376,086.8\n-364,707.8\n-343,732.7\n-299,047.9\n-221,520.0\n42,849.2\n61,985.4\n109,071.4\n247,859.6\n246,773.7\n263,115.2\n234,912.5\n311,392.8\n RBZ\n-329.7\n9,677.0\n17,531.5\n14,941.5\n18,630.8\n3,844.4\n-7,035.3\n-22,202.4\n-108,893.9\n-114,916.2\n-117,925.2\n-127,369.6\n-141,597.9\n DMBs\n370,530.4\n352,061.6\n323,807.0\n285,699.2\n204,827.4\n-54,779.1\n-63,362.3\n-101,759.1\n-172,362.2\n-165,096.0\n-178,769.8\n-131,012.2\n-198,281.1\n OBIs\n5,886.1\n2,969.2\n2,394.3\n-1,592.9\n-1,938.2\n8,085.5\n8,412.1\n14,890.2\n33,396.5\n33,238.5\n33,579.8\n23,469.3\n28,486.1\nNET DOMESTIC ASSETS \\3\n441,228.7\n528,927.2\n485,159.0\n482,349.0\n404,589.2\n310,374.5\n247,806.9\n269,129.6\n199,588.8\n254,086.5\n374,380.8\n387,954.1\n319,048.5\nDOMESTIC CREDIT\n176,946.2\n320,970.8\n334,998.9\n341,752.2\n267,298.2\n238,021.8\n238,960.1\n245,653.9\n260,892.3\n252,121.7\n261,621.9\n309,957.1\n276,581.3\n Claims on Government (net) \n160,963.6\n261,884.9\n319,595.1\n296,909.4\n256,239.5\n292,427.5\n191,715.5\n203,355.4\n213,821.1\n170,818.5\n130,627.9\n157,639.0\n216,220.2\n RBZ\n44.1\n10.6\n0.0\n2.0\n0.8\n649.4\n-42,670.8\n-24,732.7\n-34,718.8\n-12,964.3\n-12,843.3\n-23,881.4\n-11,412.3\n DMBs\n120,989.5\n221,944.4\n299,706.3\n277,394.1\n236,596.5\n271,848.2\n214,456.4\n196,739.8\n217,191.5\n152,163.6\n150,725.7\n168,946.7\n215,872.6\n OBIs\n39,929.9\n39,929.9\n19,888.8\n19,513.3\n19,642.1\n19,929.9\n19,929.9\n31,348.4\n31,348.4\n31,619.3\n-7,254.5\n12,573.7\n11,759.9\n Claims on Public Enterprises \n8,291.9\n6,980.8\n25,436.5\n19,319.1\n14,778.7\n9,544.5\n15,219.5\n9,961.8\n12,580.8\n12,950.8\n5,816.2\n6,105.2\n4,414.7\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n DMBs\n8,291.9\n6,980.8\n25,436.5\n19,319.1\n14,778.7\n9,544.5\n15,219.5\n9,961.8\n12,580.8\n12,950.8\n5,816.2\n6,105.2\n4,414.7\n Agri-PEs\n0.0\n0.0\n0.0\n0.0\n-5,259.3\n-5,260.3\n-5,261.3\n-5,262.3\n-5,263.3\n-5,003.2\n-5,004.2\n-5,005.2\n-5,006.2\n Other\n8,291.9\n6,980.8\n25,436.5\n19,319.1\n20,038.0\n14,804.8\n20,480.8\n15,224.1\n17,844.1\n17,954.0\n10,820.4\n11,110.4\n9,420.9\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Claims on Private Sector\n7,690.8\n52,105.1\n-10,032.7\n25,523.6\n-3,720.0\n-63,950.1\n32,025.1\n32,336.7\n34,490.5\n68,352.4\n125,177.8\n146,212.9\n55,946.4\n RBZ\n-5,898.0\n-5,899.0\n-6,269.0\n-6,269.0\n-5,383.7\n-5,403.6\n-1,420.9\n-1,421.9\n-1,386.4\n-392.8\n-390.8\n-389.8\n-390.8\n DMBs\n-102,287.3\n-48,548.7\n-117,960.6\n-90,130.3\n-107,645.2\n-169,498.5\n-120,335.1\n-142,682.7\n-121,001.5\n-124,890.6\n-69,400.6\n-43,543.7\n-120,031.2\n OBIs\n115,876.1\n106,552.9\n114,196.9\n121,923.0\n109,308.9\n110,951.9\n153,781.1\n176,441.3\n156,878.5\n193,635.8\n194,969.2\n190,146.4\n176,368.4\nOTHER ITEMS (NET) \n264,282.5\n207,956.4\n150,160.1\n140,596.8\n137,290.9\n72,352.6\n8,846.8\n23,475.6\n-61,303.5\n1,964.8\n112,758.9\n77,997.0\n42,467.2\nBROAD MONEY (M3) \n80,250.0\n208,162.6\n295,415.1\n263,716.0\n307,589.0\n485,358.6\n369,148.2\n525,839.1\n477,843.2\n505,576.8\n608,355.2\n470,795.0\n451,480.0\nGROWTH RATES\n Broad Money (M3) \n2.1%\n5.5%\n7.8%\n6.6%\n7.7%\n12.6%\n9.6%\n13.9%\n12.2%\n12.8%\n16.0%\n12.0%\n11.6%\n Domestic Credit \n4.7%\n8.5%\n8.7%\n9.0%\n6.9%\n6.0%\n6.0%\n6.2%\n6.5%\n6.2%\n6.4%\n7.6%\n7.0%\n Claims on Private Sector\n0.2%\n1.5%\n-0.3%\n0.7%\n-0.1%\n-1.7%\n0.9%\n0.9%\n0.9%\n1.8%\n3.4%\n4.0%\n1.6%\nTABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3)\n$ Thousands\n2014\n \n \nMONTHLY ECONOMIC REVIEW \n12 \n \n \n \n \n \n \n \n \nAGRICULTURE\nCONSTRUCTION\nCOMMUNICATION\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATE\nTOTAL\nEND OF\n \n \n \nINVESTMENTS\nORGANISATIONS\n \n \n \n \n2013 \nJan\n450,170.0\n31,073.4\n38,762.3\n426,050.9\n11,967.9\n31,547.4\n417,961.3\n144,645.1\n237,323.7\n33,906.5\n300,841.1\n9,373.1\n2,133,622.7\nFeb \n494,536.6\n33,786.9\n28,372.0\n439,556.7\n14,811.4\n33,948.5\n409,692.7\n128,242.7\n303,269.9\n38,235.9\n298,171.5\n3,685.5\n2,226,310.2\nMar\n467,874.0\n41,532.7\n68,987.2\n433,337.1\n16,118.8\n34,704.7\n471,204.9\n159,925.7\n307,134.7\n44,413.6\n370,123.5\n4,491.7\n2,419,848.6\nApr\n455,178.9\n43,628.2\n23,433.4\n428,381.7\n14,997.8\n35,589.1\n444,798.7\n135,046.2\n288,857.6\n45,643.6\n377,037.0\n7,693.7\n2,300,585.8\nMay\n484,635.0\n38,637.2\n27,795.2\n455,737.9\n14,699.1\n35,106.1\n465,890.2\n115,457.8\n301,547.9\n52,075.2\n382,172.8\n5,034.0\n2,378,788.7\nJun\n489,730.1\n37,474.3\n38,198.7\n425,521.3\n7,310.7\n53,815.0\n454,368.5\n110,349.9\n295,432.3\n51,453.6\n385,769.7\n11,033.4\n2,360,457.5\nJul\n483,103.7\n40,342.5\n33,494.3\n464,921.7\n6,869.2\n38,522.6\n541,025.9\n116,557.1\n307,117.5\n48,218.0\n426,582.7\n4,455.3\n2,511,210.5\nAug\n521,743.0\n38,889.1\n43,894.5\n425,531.4\n7,260.6\n39.087.2\n451,871.2\n110,041.8\n346,006.0\n40,216.0\n374,587.1\n9,914.6\n2,409,042.5\nSep\n496,289.3\n39,446.9\n38,856.6\n447,247.2\n13,953.5\n43,006.7\n437,211.9\n118,873.7\n330,709.6\n40,046.6\n373,596.8\n9,790.6\n2,389,029.4\nOct\n491,610.6\n38,871.5\n39,766.0\n471,966.2\n8,023.3\n40,835.3\n420,445.3\n110,778.3\n417,411.6\n36,334.1\n376,463.1\n9,861.9\n2,462,367.3\nNov\n487,289.4\n40,321.7\n42,332.0\n488,637.3\n3,116.5\n36,852.0\n417,162.5\n117,050.8\n389,727.1\n39,126.4\n369,190.3\n17,960.5\n2,448,766.4\nDec\n533,165.2\n42,285.1\n17,617.9\n435,613.1\n5,047.0\n62,165.8\n389,181.2\n115,404.6\n379,809.3\n37,409.1\n369,838.8\n18,252.9\n2,405,790.0\n2014 \nJan\n489,585.3\n43,743.8\n18,574.7\n464,097.6\n5,467.4\n48,086.1\n362,554.0\n116,635.5\n412,901.1\n37,722.2\n367,126.2\n16,773.1\n2,383,267.1\nFeb \n519,154.6\n38,918.1\n24,765.4\n460,528.2\n10,397.3\n47,488.6\n385,038.1\n116,670.5\n401,619.6\n32,978.1\n396,800.8\n8,542.7\n2,442,902.1\nMar\n503,868.1\n42,707.9\n35,785.1\n494,663.8\n5,257.4\n52,722.0\n374,809.1\n116,653.0\n396,000.6\n38,089.3\n406,503.1\n15,833.1\n2,482,892.7\nApr\n540,156.2\n40,707.1\n18,138.9\n502,514.1\n9,898.6\n18,817.9\n407,595.0\n175,048.3\n447,549.2\n49,619.1\n511,048.2\n15,136.7\n2,736,229.2\nMay\n546,733.9\n41,594.2\n21,547.9\n488,389.7\n10,073.8\n23,049.1\n396,846.0\n184,730.9\n452.373.8\n51,891.8\n512,864.5\n17,718.8\n2,747,814.6\nJun\n536,188.9\n46,085.8\n28,201.0\n500,266.1\n10,656.3\n25,616.2\n417,002.7\n197,441.1\n432,692.4\n46,751.6\n499,191.5\n17,173.9\n2,757,267.4\nJul\n575,645.3\n43,055.0\n28,090.8\n480,483.6\n6,359.2\n27,284.9\n428,611.4\n206,052.3\n479,384.6\n49,260.4\n507,930.0\n46,148.1\n2,878,305.8\nAug\n548,866.7\n56,886.1\n38,891.3\n498,696.8\n54,387.2\n110,618.5\n422,942.5\n221,099.2\n430,156.3\n48,167.0\n474,060.2\n37,230.9\n2,942,002.7\nSep\n539,818.8\n51,349.1\n29,191.8\n493,610.7\n51,999.0\n109,975.0\n428,697.3\n201,791.6\n451,117.2\n45,100.0\n539,108.1\n36,708.6\n2,978,467.1\nOct\n530,544.7\n62,891.8\n55,922.5\n507,936.4\n50,701.1\n101,818.5\n436,519.1\n196,491.0\n413,443.5\n39,088.3\n520,437.0\n5,799.4\n2,921,593.2\nNov\n574,859.5\n58,780.5\n46,419.5\n460,989.3\n50,008.6\n120,510.4\n453,924.5\n208,418.3\n413,410.7\n45,289.6\n540,638.4\n5,976.9\n2,979,226.2\nDec\n565,840.1\n46,298.5\n42,604.8\n437,975.3\n47,805.8\n88,485.5\n478,895.5\n220,501.3\n481,497.5\n43,449.8\n543,038.5\n5,957.7\n3,002,529.6\n2015 \nJan\n541,656.5\n46,681.6\n39,906.8\n445,656.6\n21,454.5\n131,350.1\n466,896.6\n207,686.6\n452,817.5\n47,945.7\n557,066.9\n1,401.2\n2,960,820.4\nTABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1\n$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n13 \n \n \nEND OF\nAGRICULTURE\nCONSTRUCTION\nCOMMUNICATIONS\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATES\nTOTAL\nINVESTMENTS\nORGANISATIONS\n2013\nJANUARY\n91,648.8\n48,329.1\n128,426.0\n351,566.7\n212,401.7\n494,823.6\n252,389.7\n93,470.0\n658,260.1\n44,091.4\n512,289.8\n32,145.9\n2,919,842.6\nFEBRUARY\n96,796.5\n48,491.5\n147,571.5\n360,757.9\n147,995.9\n578,306.4\n284,603.8\n64,530.5\n679,554.8\n41,983.6\n516,431.2\n25,275.3\n2,991.999.1\nMARCH\n96,752.8\n44,883.3\n139,327.8\n354,627.8\n155,915.2\n610,758.4\n290,072.8\n87,143.0\n594,397.7\n38,345.5\n523,913.8\n141,404.6\n3,077,542.7\nAPRIL\n98,671.0\n49,093.8\n152,390.8\n350,269.2\n166,578.5\n545,118.2\n311,310.8\n105,766.9\n638,341.8\n39,837.1\n533,691.3\n99,053.9\n3,090,123.4\nMAY\n114,053.3\n55,427.4\n142,023.3\n389,384.7\n255,352.1\n484,429.7\n318,129.4\n92,777.2\n700,668.7\n46,593.8\n578,509.2\n32,297.7\n3,209,646.5\nJUNE\n116,635.2\n58,578.8\n147,313.8\n447,394.5\n183,146.3\n352,600.3\n366,824.2\n96,685.8\n701,195.7\n46,578.5\n597,373.1\n104,843.6\n3,219,169.8\nJULY\n108,086.6\n46,449.5\n120,982.3\n380,448.8\n178,341.4\n677,700.7\n301,575.9\n97,583.8\n710,856.1\n39,395.9\n487,954.4\n102,531.4\n3,251,906.9\nAUGUST\n137,107.1\n48,726.1\n135,788.5\n319,106.0\n174,593.9\n637,190.7\n333,255.3\n99,194.1\n639,401.6\n41,996.5\n417,762.6\n93,772.1\n3,077,894.4\nSEPTEMBER\n100,028.3\n57,039.8\n145,652.5\n380,781.4\n207,379.2\n612,131.5\n408,359.1\n103,872.8\n795,047.6\n46,982.9\n435,912.4\n90,265.8\n3,383,453.4\nOCTOBER\n94,346.3\n52,722.4\n141,401.4\n338,625.9\n223,223.8\n754,145.4\n339,305.6\n99,583.3\n754,116.1\n41,527.2\n440,197.9\n97,771.1\n3,376,966.4\nNOVEMBER\n114,178.7\n47,740.9\n128,399.3\n312,639.2\n241,628.8\n741,885.4\n283,426.0\n80,507.6\n727,492.5\n42,901.0\n458,479.9\n89,292.5\n3,268,571.8\nDECEMBER\n113,914.2\n51,981.7\n142,938.1\n342,785.1\n213,125.2\n755,299.4\n327,658.1\n83,103.1\n762,884.4\n41,827.9\n432,436.3\n61,038.7\n3,328,992.1\n2014\nJANUARY\n130,154.6\n53,292.9\n146,876.1\n353,793.8\n259,569.6\n731,703.3\n304,033.2\n93,776.7\n770,435.4\n40,085.9\n485,573.1\n60,897.7\n3,430,192.5\nFEBRUARY\n138,812.3\n55,092.2\n134,813.9\n420,181.0\n262,183.8\n786,295.6\n270,062.5\n131,134.8\n779,640.3\n39,169.2\n508,813.7\n61,822.3\n3,588,021.6\nMARCH\n118,239.1\n55,167.5\n135,807.9\n382,675.5\n216,025.3\n791,776.0\n275,549.1\n103,298.7\n806,185.9\n42,432.8\n521,381.5\n72,990.9\n3,521,530.3\nAPRIL\n164,347.5\n59,289.3\n102,323.7\n408,823.5\n325,559.7\n780,207.0\n325,659.8\n135,187.4\n888,876.2\n43,746.5\n582,848.8\n82,009.8\n3,898,879.1\nMAY\n149,474.1\n60,669.4\n108,977.6\n355,802.3\n332,850.8\n800,256.8\n303,599.4\n132,132.8\n1,027,552.7\n38,921.0\n581,930.2\n93,334.9\n3,985,501.8\nJUNE\n194,685.1\n64,188.9\n95,595.6\n470,267.7\n291,594.6\n812,999.7\n348,303.5\n130,453.4\n895,698.0\n44,735.5\n575,149.1\n91,392.4\n4,015,063.5\nJULY\n163,335.6\n56,812.0\n87,587.5\n370,121.7\n303,367.3\n830,988.6\n334,436.8\n112,985.0\n880,761.1\n44,675.4\n587,756.7\n94,841.5\n3,867,669.2\nAUGUST\n128,794.1\n38,934.1\n90,012.5\n271,204.3\n270,009.9\n755,141.6\n236,267.5\n130,548.6\n865,566.6\n31,180.4\n467,724.2\n89,582.4\n3,374,966.2\nSEPTEMBER\n177,932.5\n56,444.5\n82,756.7\n315,956.8\n309,508.3\n951,593.4\n278,461.5\n174,497.9\n978,044.0\n47,792.7\n571,629.9\n103,464.8\n4,048,083.1\nOCTOBER\n158,421.7\n57,091.4\n83,973.9\n407,934.0\n308,028.8\n917,450.3\n266,690.9\n178,771.0\n936,336.2\n44,950.2\n613,425.1\n91,764.1\n4,064,837.5\nNOVEMBER\n140,908.6\n61,494.3\n93,114.0\n350,153.8\n313,668.7\n881,007.4\n271,049.9\n137,867.8\n955,760.6\n48,177.7\n641,405.3\n90,462.2\n3,985,070.2\nDECEMBER\n147,242.4\n60,358.1\n118,725.7\n328,729.5\n325,746.6\n950,304.9\n290,329.3\n118,977.8\n964,815.0\n47,574.3\n638,061.1\n92,040.8\n4,082,906.3\n2015\nJANUARY\n155,304.2\n63,950.4\n136,066.9\n349,099.7\n294,145.5\n809,684.0\n314,319.6\n113,452.0\n1,034,514.7\n48,876.5\n606,370.3\n78,746.0\n4,004,529.8\n TABLE 2.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \nUS$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n14 \n \n \n \n \n \n \n \n \nEnd Pe rio d\n19 9 9\n2 0 0 0\n2 0 0 1\n2 0 0 2\n2 0 0 3\n2 0 0 4\n2 0 0 5\n2 0 0 6\n2 0 0 7\n2 0 0 8\n2 0 0 9\n2 0 10\n2 0 11\n2 0 12\n2 0 13\n( U S $ millio ns )\nLo ng - Te rm Ext e rnal D e b t\n3 ,53 0\n3 ,2 2 7\n3 ,2 55\n3 ,3 2 7\n3 ,6 4 4\n3 ,9 2 7\n3 ,8 0 5\n3 ,9 6 5\n4 ,0 3 2\n4 ,4 6 4\n4 ,9 51\n5,175\n6 ,0 9 6\n6 ,6 0 7\n7,3 70\nGo ve rnme nt\n2 ,4 6 1\n2 ,2 4 9\n2 ,3 2 8\n2 ,3 76\n2 ,6 17\n2 ,8 4 4\n2 ,8 9 5\n3 ,0 2 4\n3 ,0 54\n3 ,4 6 4\n4 ,0 3 7\n4 ,0 9 5\n4 ,6 3 8\n4 ,9 2 9\n5,0 12\nBilateral Creditors\n935\n1,050\n1,115\n1,107\n1,255\n1,455\n1,438\n1,520\n1,520\n1,863\n2,308\n2,325\n2,597\n2,694\n2,928\nMultilateral Creditors\n1,235\n1,199\n1,213\n1,269\n1,362\n1,389\n1,457\n1,504\n1,524\n1,592\n1,729\n1,770\n2,041\n2,235\n2,084\nPrivate Creditors\n291\n0\n0\n0\n0\n0\n0\n0\n10\n10\n0\n0\n0\n0\n0\nPub lic Ent e rp ris e s\n54 3\n53 4\n56 8\n6 16\n6 9 8\n714\n70 9\n76 6\n79 0\n8 2 5\n8 57\n9 3 8\n1,0 9 2\n1,19 8\n1,3 56\nBilateral Creditors\n316\n301\n315\n351\n403\n442\n439\n464\n474\n497\n453\n238\n711\n703\n858\nMultilateral Creditors\n224\n233\n253\n265\n295\n272\n270\n302\n316\n327\n403\n700\n382\n495\n498\nPrivate Creditors\n3\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\nM o ne t ary A ut ho rit ie s\n3 6 4\n2 9 2\n2 9 2\n2 79\n2 8 8\n2 9 1\n14 4\n13 0\n13 7\n14 0\n14 0\n13 8\n12 7\n12 5\n12 5\nMultilateral Creditors - IMF\n364\n292\n292\n279\n288\n291\n144\n130\n137\n140\n140\n138\n127\n125\n125\nPrivat e\n16 2\n152\n6 7\n56\n4 1\n78\n57\n4 5\n51\n3 5\n57\n14 2\n3 6 6\n4 8 0\n1,0 0 2\nS ho rt - Te rm Ext e rnal D e b t\n53 2\n2 9 8\n16 7\n18 3\n16 9\n14 4\n173\n2 8 1\n3 8 7\n2 2 6\n1,19 8\n1,3 8 2\n1,2 8 9\n8 9 0\n1,56 4\nSupplier's Credits\n150\n42\n13\n26\n51\n69\n107\n122\n178\n41\n193\n286\n134\n30\n0\nReserve Bank\n642\n642\n618\n614\n614\nPrivate\n382\n256\n154\n157\n118\n75\n66\n159\n209\n185\n363\n454\n537\n246\n950\nTo t al Ext e rnal D e b t\n4 ,0 6 2\n3 ,52 5\n3 ,4 2 2\n3 ,510\n3 ,8 12\n4 ,0 71\n3 ,9 78\n4 ,2 4 6\n4 ,4 19\n4 ,6 9 0\n6 ,14 9\n6 ,557\n7,3 8 5\n7,4 9 7\n8 ,9 3 4\nGro s s D o me s t ic Pro d uc t\n5,990\n6,107\n10,887\n6,715\n5,037\n4,299\n2,918\n6,645\n4,000\n3,175\n6,133\n7,433\n8,865\n8,865\n12,973\nExt e rnal D e b t / GD P\n6 8 %\n57.7%\n3 1.4 %\n52 .3 %\n75.7%\n9 4 .7%\n13 6 .3 %\n6 3 .9 %\n110 .5%\n14 7.7%\n10 0 .3 %\n8 8 .2 %\n8 3 .3 %\n8 4 .6 %\n6 8 .9 %\nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS) (WITH RBZ)\n \n \nMONTHLY ECONOMIC REVIEW \n15 \n \n \n \nEnd Period\nNominal Lending Rates\n2\nIndividuals \nCorporate\nNominal Lending \nRates\n2\nIndividuals \nCorporate\n2014 \nJan\n6.00-35.00\n14.09 \n9.30 \n15.00-23.00\n18.88 \n17.74 \nFeb \n6.00-35.00\n14.08 \n9.32 \n15.00-23.00\n18.88 \n17.73 \nMar\n6.00-35.00\n14.24 \n9.27 \n15.00-23.00\n18.88 \n17.73 \nApr\n6.00-35.00\n14.22 \n9.12 \n15.00-23.00\n18.88 \n17.73 \nMay\n6.00-35.00\n14.39 \n9.25 \n15.00-23.00\n18.87 \n17.74 \nJun\n6.00-35.00\n14.44 \n9.33 \n15.00-23.00\n19.00 \n18.00 \nJul\n6.00-35.00\n14.33 \n9.45 \n15.00-23.00\n19.00 \n18.00 \nAug\n6.00-35.00\n14.28 \n9.45 \n15.00-23.00\n19.00 \n18.00 \nSep\n6.00-35.00\n14.45 \n9.57 \n15.00-23.00\n19.00 \n18.00 \nOct\n6.00-35.00\n14.36 \n9.90 \n15.00-23.00\n19.00 \n18.00 \nNov\n6.00-35.00\n14.26 \n9.97 \n15.00-23.00\n19.00 \n18.00 \nDec\n6.00-35.00\n14.19 \n9.68 \n15.00-23.00\n19.00 \n18.00 \n2015 \nJan\n6.00-35.00\n14.16 \n9.66 \n6.00-21.00\n19.00 \n18.00 \nNotes\n3. Lending rates exclude rates on staff loans. \nTABLE 4.1 LENDING RATES (percent per annum)\n1\n2. Nominal Lending Rates depict the range of rates quoted by banks.\nCommercial Banks\nMerchant Banks\nWeighted Average Lending Rates\n3 \nNominal Lending Rates\n3 \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n \n \nMONTHLY ECONOMIC REVIEW \n16 \n \n \n \n ACCEPTING HOUSES\nEND OF\nSAVINGS\n3 MONTHS\n3 MONTHS\n2014 \nJan\n0.15-8.00\n3.00-20.00\n11.00-12.00\nFeb \n0.15-8.00\n3.00-20.00\n11.00-12.00\nMar\n0.15-8.00\n3.00-20.00\n11.00-12.00\nApr\n0.15-8.00\n3.00-20.00\n11.00-12.00\nMay\n0.15-8.00\n3.00-20.00\n11.00-12.00\nJun\n0.15-8.00\n3.00-20.00\n11.00-12.00\nJul\n0.15-8.00\n3.00-20.00\n11.00-12.00\nAug\n0.15-8.00\n4.00-20.00\n11.00-12.00\nSep\n0.15-8.00\n4.00-20.00\n11.00-12.00\nOct\n0.15-8.00\n4.00-20.00\n11.00-12.00\nNov\n0.15-8.00\n4.00-20.00\n11.00-12.00\nDec\n0.15-8.00\n3.00-20.00\n12.00-12.00\n2015 \nJan\n0.15-8.00\n3.00-17.00\n12.00-12.00\n* The range of rates qouted by banks during the period.\nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)*\nCOMMERCIAL BANKS\n \n \nMONTHLY ECONOMIC REVIEW \n17 \n \n \n \n \n \n \nFOOD INFLATION\nALL\nA LCOHOLIC \nB EVER A GES \nC LOTHIN G\nHS IN G, WATER,\nFU RN ITUR E\nHEA LTH\nTR AN S POR T\nCOM M U NIC A TION\nR EC R EATION &\nED U CA TION\nR ES TA UR A NTS &\nM IS C .\nTOTAL N ON\nFOOD & \nITEM S\n& TOB A CC O\nFOOTWEA R\nELECTR ICTY , \nGA S\nA N D\nC U LTU R E\nHOTELS\nGOOD S &\nFOOD\nN ON A LC OHOLIC \nB EV ER A GES\n& OTHER\nEQUIPM EN T\nS ER VIC ES\nFU ELS\nWEIGHTS\n4 .3 8\n6 .0 5\n17.74\n9 .9 1\n2 .16\n9 .76\n3 .4 1\n2 .1\n5.6 7\n1.3 8\n3 .9 1\n6 6 .4 7\n3 3 .53\n10 0\n2013\nOCTOB ER\n1.2 1\n0 .0 0\n- 0 .0 1\n- 0 .3 6\n0 .0 6\n- 0 .3 2\n- 0 .0 7\n- 0 .15\n0 .0 2\n- 0 .0 8\n- 0 .2 0\n- 0 .0 4\n0 .0 4\n- 0 .0 1\nN OV EM B ER\n0 .3 8\n- 0 .19\n- 0 .0 1\n- 0 .3 7\n0 .10\n- 0 .13\n- 0 .0 1\n- 0 .13\n5.57\n1.0 8\n- 0 .2 7\n0 .4 3\n- 0 .6 0\n0 .0 9\nD EC EM B ER\n0 .14\n- 0 .0 1\n0 .3 7\n- 0 .2 9\n0 .12\n0 .2 7\n0 .0 5\n- 0 .2 2\n0 .0 0\n0 .0 0\n- 0 .4 6\n0 .0 8\n- 0 .4 1\n- 0 .0 8\n2014\nJAN U AR Y\n0 .2 0\n- 0 .0 7\n0 .0 0\n0 .0 1\n- 0 .2 3\n0 .0 1\n0 .0 0\n- 0 .0 7\n0 .0 2\n0 .16\n- 0 .0 9\n0 .0 0\n0 .4 4\n0 .14\nFEB R UA R Y\n- 0 .0 1\n- 0 .0 9\n- 0 .11\n- 0 .0 8\n0 .0 9\n0 .0 8\n0 .0 0\n- 0 .0 4\n0 .2 3\n- 0 .0 8\n0 .0 7\n- 0 .0 1\n0 .18\n0 .0 5\nM A R C H\n- 0 .0 5\n- 0 .0 6\n- 0 .8 2\n- 0 .12\n0 .0 2\n0 .0 0\n0 .0 1\n0 .0 0\n0 .0 0\n0 .0 1\n- 0 .3 0\n- 0 .2 6\n- 0 .14\n- 0 .2 2\nA PR IL\n0 .3 0\n- 0 .10\n- 0 .13\n- 0 .75\n0 .16\n0 .3 3\n- 0 .0 2\n0 .3 4\n12 .6 4\n- 1.0 2\n- 0 .0 3\n1.0 9\n- 0 .4 6\n0 .58\nM A Y\n0 .11\n- 0 .11\n- 0 .0 6\n- 0 .2 9\n0 .0 0\n0 .2 3\n- 0 .0 3\n- 0 .2 0\n0 .0 7\n- 0 .13\n- 0 .4 3\n- 0 .0 5\n- 0 .3 0\n- 0 .13\nJUN E\n- 0 .0 5\n0 .12\n0 .0 0\n0 .0 6\n0 .3 0\n- 0 .0 3\n0 .0 0\n- 0 .0 9\n0 .0 0\n- 0 .11\n0 .15\n0 .0 2\n- 0 .12\n- 0 .0 3\nJULY\n- 0 .4 7\n- 0 .2 1\n0 .12\n0 .3 0\n- 0 .0 1\n0 .11\n- 0 .12\n- 0 .13\n- 0 .0 8\n1.79\n0 .8 5\n- 0 .3 7\n0 .2 5\n0 .0 1\nA UGU S T\n- 0 .8 1\n- 0 .0 5\n- 0 .0 9\n0 .0 0\n- 0 .14\n0 .0 4\n0 .2 8\n- 0 .0 6\n- 0 .0 8\n- 0 .0 2\n0 .0 2\n- 1.2 1\n- 0 .0 7\n- 0 .3 1\nS EPTEM B ER\n0 .10\n0 .14\n0 .4 5\n- 0 .2 7\n0 .2 1\n0 .3 8\n- 0 .0 6\n- 0 .14\n0 .0 0\n- 0 .4 0\n0 .11\n0 .15\n- 0 .3 4\n- 0 .0 1\nOCTOB ER\n0 .16\n0 .0 7\n0 .0 0\n- 0 .14\n- 0 .0 1\n- 0 .2 7\n- 0 .0 6\n- 0 .0 4\n0 .0 1\n0 .0 2\n0 .0 3\n- 0 .0 4\n- 0 .2 4\n- 0 .11\nN OV EM B ER\n0 .19\n0 .12\n- 0 .0 3\n- 0 .0 9\n0 .0 9\n0 .10\n0 .0 2\n0 .0 2\n- 9 .18\n- 0 .6 2\n0 .0 6\n- 0 .9 6\n- 0 .11\n- 0 .6 9\nD EC EM B ER\n0 .0 1\n- 0 .10\n0 .16\n- 0 .10\n0 .13\n0 .19\n0 .0 0\n- 0 .16\n0 .0 0\n- 0 .2 3\n- 0 .15\n0 .0 4\n- 0 .3 6\n- 0 .0 9\n2015\nJAN U AR Y\n- 0 .0 4\n- 0 .0 1\n0 .0 8\n0 .0 7\n0 .0 6\n- 0 .9 7\n- 13 .4 1\n0 .0 2\n- 0 .0 8\n- 0 .4 8\n0 .3 0\n- 0 .6 9\n0 .4 0\n- 0 .3 4\nN ON - FOOD IN FLATION\nTABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX\n( DECEMBER 2012 = 100)\n \n \nMONTHLY ECONOMIC REVIEW \n18 \n \nFOOD \nINFLA TION\nALL\nA LC OHOLIC \nB EVER AGES \nC LOTHIN G\nHS IN G, \nWA TER,\nFU RN ITUR E\nHEALTH\nTRAN S POR T\nC OM M UNIC A\nTION\nR EC REATION \n&\nEDUC ATION\nR ES TA UR AN\nTS &\nM IS C.\nTOTAL N ON\nFOOD & \nITEM S\n& TOB A CCO\nFOOTWEA R\nELEC TR ICTY , \nGAS\nA ND\nCULTURE\nHOTELS\nGOODS &\nFOOD\nNON \nA LC OHOLIC \nB EV ER AGES\n& OTHER\nEQUIPM EN T\nS ERV ICES\nFU ELS\nWEIGHTS\n4 .3 8\n6 .0 5\n17.74\n9 .9 1\n2 .16\n9 .76\n3 .4 1\n2 .1\n5.6 7\n1.3 8\n3 .9 1\n6 6 .4 7\n3 3 .53\n10 0\n2 0 13\nS EPTEM B ER\n4 .3 6\n0 .6 1\n3 .7\n- 0 .3 7\n2 .1\n5.0 6\n- 13 .6 6\n- 1.0 1\n5.74\n1.2 3\n0 .9 3\n1.4 5\n- 0 .3 2\n0 .8 6\nOC TOB ER\n5.2 3\n0 .2 5\n2 .9 6\n- 0 .7\n2 .2 1\n1.4\n- 13 .76\n- 0 .73\n9 .0 5\n0 .8 3\n- 0 .2\n1.2 5\n- 0 .74\n0 .59\nNOVEM B ER\n5.9 4\n- 0 .0 7\n3 .51\n- 1.0 3\n2 .4 2\n- 7.0 4\n- 13 .8 3\n- 0 .9 2\n11.19\n2 .0 6\n- 0 .3 5\n1.58\n- 1.51\n0 .54\nDECEM B ER\n4 .2 6\n0 .0 9\n3 .6 3\n- 1.0 8\n2 .11\n1.6 1\n- 13 .9 9\n- 1.0 3\n11.2 9\n2 .0 3\n- 0 .8 7\n1.6 1\n- 2 .2\n0 .3 3\n2 0 14\nJA NU ARY\n5.0 3\n0 .0 3\n3 .6 3\n- 1.0 7\n1.8 7\n1.6 2\n- 14\n- 1.12\n11.3\n2 .18\n- 0 .4 3\n1.6 7\n- 2 .0 8\n0 .4 1\nFEB R UAR Y\n2 .2 1\n- 0 .4 3\n3 .0 9\n- 1.3 5\n0 .4 4\n0 .0 5\n- 13 .8 6\n- 1.0 8\n11.4 7\n1.3 2\n- 1.4 5\n0 .9 3\n- 3 .2 6\n- 0 .4 9\nM AR CH\n1.6 7\n- 0 .53\n2 .2 1\n- 1.8 2\n0 .4\n- 0 .4 4\n- 13 .6 8\n- 1.2 1\n11.4 7\n2 .4 7\n- 1.8 2\n0 .51\n- 3 .71\n- 0 .9 1\nAPRIL\n1.78\n- 0 .55\n0 .4 6\n- 2 .6\n0 .2 2\n- 0 .11\n- 0 .6 2\n- 0 .9 3\n2 0 .71\n1.13\n- 1.56\n1.5\n- 3 .73\n- 0 .2 6\nM AY\n1.9 1\n- 0 .8 3\n0 .3 9\n- 2 .6 2\n0 .2 9\n0 .8 6\n- 0 .6\n- 0 .6 4\n2 0 .79\n0 .9 5\n- 1.6 9\n1.6 2\n- 3 .75\n- 0 .19\nJU NE\n1.6 8\n- 0 .8 1\n0 .4\n- 2 .54\n0 .6 4\n0 .9 7\n- 0 .2 7\n- 0 .8 4\n2 0 .79\n0 .9 9\n- 1.6 7\n1.6 7\n- 3 .54\n- 0 .0 8\nJU LY\n- 2 .8 8\n1.6 4\n- 0 .6 8\n0 .7\n- 2 .4\n0 .8\n0 .5\n- 0 .4\n- 0 .8\n2 3\n1.8\n- 2\n1.9\n0 .3\nAU GUS T\n- 2 .79\n2 .0 2\n- 0 .4 4\n- 0 .1\n- 2 .5\n0 .6\n0 .7\n- 0 .3\n- 0 .8\n2 1.4\n0 .9\n- 2 .8\n1.6\n0 .2\nS EPTEM B ER\n2 .10\n- 0 .3 4\n- 0 .0 3\n- 2 .6 0\n0 .9 8\n0 .9 9\n- 0 .3 2\n- 0 .8 5\n2 1.4 2\n0 .2 8\n- 3 .0 6\n1.59\n- 2 .9 5\n0 .0 9\nOC TOB ER\n1.0 4\n- 0 .2 7\n- 0 .0 1\n- 2 .3 8\n0 .9 1\n1.0 4\n- 0 .3 1\n- 0 .75\n2 1.4 1\n0 .3 8\n- 2 .8 3\n1.59\n- 3 .2 3\n0 .0 0\nNOVEM B ER\n0 .8 4\n0 .0 4\n- 0 .0 3\n- 2 .11\n0 .9 1\n1.2 6\n- 0 .2 8\n- 0 .59\n4 .4 4\n- 1.3 1\n- 2 .50\n0 .17\n- 2 .75\n- 0 .78\nDECEM B ER\n0 .71\n- 0 .0 5\n- 0 .2 4\n- 1.9 2\n0 .9 2\n1.18\n- 0 .3 3\n- 0 .53\n4 .4 5\n- 1.54\n- 2 .2 1\n0 .13\n- 2 .7\n- 0 .8\n2 0 15\nJA NU ARY\n0 .4 7\n0 .0 0\n- 0 .16\n- 1.8 6\n1.2 1\n0 .19\n- 13 .6 9\n- 0 .4 4\n4 .3 5\n- 2 .16\n- 1.8 2\n- 0 .57\n- 2 .74\n- 1.2 8\nNON- FOOD IN FLATION\nTABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1\n(DECEMBER 2012 = 100)\n \n \nMONTHLY ECONOMIC REVIEW \n19 \n \n \n \nSA\nBW\nJAPANESE\nEUROPEAN\nPOUND\nEND OF\nRAND/1\nPULA/1\nYEN/1\nCURRENCY/2\nSTERLING/2\n2014\nJANUARY\n11.21\n9.09\n102.47\n1.35\n1.65\nFEBRUARY\n10.71\n8.85\n101.74\n1.37\n1.67\nMARCH\n10.56\n8.85\n102.38\n1.38\n1.68\nAPRIL\n10.57\n8.85\n102.38\n1.38\n1.68\nMAY\n10.44\n8.73\n101.61\n1.36\n1.67\nJUNE\n10.58\n8.67\n101.3\n1.36\n1.7\nJULY\n10.68\n8.85\n102.76\n1.36\n1.69\nAUGUST\n10.98\n9.07\n107.35\n1.29\n1.63\nSEPTEMBER\n11.26\n9.26\n109.39\n1.27\n1.63\nOCTOBER\n10.90\n9.11\n110.87\n1.26\n1.59\nNOVEMBER\n11.02\n9.22\n118.21\n1.38\n1.57\nDECEMBER\n11.56\n9.51\n119.65\n1.22\n1.56\n2015\nJANUARY\n11.55\n9.61\n117.85\n1.13\n1.51\n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES\n \n \nMONTHLY ECONOMIC REVIEW \n20 \nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\n&\nBalances\nBalances \nBalances\nwith RBZ\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgric PEs\n2013\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n Jan\n323.4\n378.5\n103.4\n182.3\n247.8\n0.0\n0.0\n1235.5\n52.2\n2694.9\n386.1\n205.7\n386.7\n4961.1\n Feb\n292.2\n357.7\n120.5\n234.6\n239.9\n0.0\n0.0\n1244.9\n27.7\n2689.3\n328.8\n208.0\n388.3\n4887.0\n Mar\n271.6\n345.7\n196.1\n198.9\n265.3\n0.0\n0.0\n1277.6\n26.1\n2715.8\n367.2\n228.8\n388.0\n5003.5\n Apr\n263.8\n383.6\n201.1\n272.9\n289.9\n75.3\n5.2\n1491.7\n26.3\n2595.8\n341.3\n207.0\n382.1\n5044.2\n May\n250.9\n400.9\n198.2\n296.7\n253.5\n75.4\n5.3\n1480.8\n25.8\n2673.2\n389.8\n208.0\n382.9\n5160.4\n Jun\n227.2\n416.4\n171.9\n257.5\n271.8\n75.5\n5.3\n1425.8\n26.0\n2698.3\n364.1\n217.8\n384.6\n5116.5\n Jul\n266.5\n352.8\n164.2\n266.1\n263.8\n110.2\n6.4\n1429.9\n26.5\n2701.3\n337.1\n229.8\n387.0\n5111.7\n Aug.\n322.8\n277.9\n136.4\n242.5\n237.8\n61.1\n6.4\n1285.0\n26.2\n2813.0\n367.0\n218.3\n385.2\n5094.7\n Sep\n334.1\n336.0\n178.0\n327.8\n226.3\n111.5\n6.0\n1519.7\n26.9\n2773.3\n298.8\n234.7\n386.4\n5239.8\n Oct\n379.4\n387.5\n137.1\n219.7\n260.9\n99.4\n5.0\n1489.0\n17.3\n2809.1\n316.7\n257.3\n371.5\n5260.9\n Nov\n333.3\n312.7\n160.2\n197.1\n261.1\n108.6\n6.5\n1379.5\n26.6\n2789.7\n291.3\n235.4\n369.8\n5092.3\n Dec\n354.8\n367.8\n135.5\n287.3\n199.9\n118.0\n6.6\n1469.9\n28.4\n2799.5\n490.8\n259.5\n347.6\n5395.7\n2014\n Jan\n356.9\n395.3\n134.1\n253.1\n153.0\n119.2\n5.4\n1417.0\n27.9\n2866.4\n516.1\n362.2\n353.9\n5543.5\n Feb\n334.3\n387.0\n130.5\n285.0\n131.2\n193.2\n5.4\n1466.6\n32.8\n2718.1\n534.5\n502.9\n351.1\n5606.0\n Mar\n304.6\n354.1\n147.4\n280.3\n165.9\n255.2\n5.4\n1512.9\n28.7\n2737.9\n522.7\n538.8\n349.7\n5690.7\n Apr\n353.3\n367.8\n154.4\n274.9\n205.7\n247.0\n5.4\n1608.4\n32.5\n2844.6\n534.1\n345.3\n348.6\n5713.6\n May\n327.8\n421.1\n120.5\n372.8\n211.5\n241.7\n5.4\n1700.6\n27.5\n2836.8\n591.4\n366.2\n347.1\n5869.6\n Jun\n347.1\n404.7\n166.4\n338.1\n198.0\n261.9\n0.0\n1716.1\n16.2\n2863.2\n607.8\n362.9\n346.4\n5912.6\n Jul\n347.1\n321.3\n176.7\n276.3\n186.0\n246.2\n0.0\n1553.7\n15.4\n2940.4\n597.5\n347.4\n345.6\n5800.0\n Aug\n360.7\n424.5\n178.5\n243.5\n173.9\n237.5\n0.0\n1618.6\n15.5\n2949.1\n609.5\n353.9\n346.4\n5892.9\n Sep\n255.6\n636.8\n183.0\n158.8\n176.0\n253.9\n0.0\n1664.2\n4.1\n2949.4\n624.6\n371.5\n341.5\n5955.3\n Oct\n226.1\n597.7\n175.0\n205.5\n180.3\n260.1\n0.0\n1644.7\n15.6\n2938.4\n594.4\n369.0\n341.8\n5903.8\n Nov\n258.9\n556.7\n169.1\n157.5\n178.5\n281.6\n0.0\n1602.2\n4.2\n2951.6\n597.5\n369.4\n341.1\n5865.9\n Dec\n310.2\n466.1\n168.0\n152.4\n188.8\n285.4\n0.0\n1571.0\n7.3\n2961.2\n633.2\n377.7\n389.2\n5939.5\n2015\n Jan\n0.6\n527.9\n159.0\n182.6\n163.6\n301.9\n0.0\n1335.6\n21.4\n2796.8\n557.7\n606.5\n366.1\n5684.2\nLiquid Assets\nTABLE 7.1: COMMERCIAL BANKS - ASSETS\nSecurities\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n21 \n \n \n \n \n \n \nDeposits\nCapital\nContigent\nOther\nTotal\nOf which\nand\nLiablities\nLiablities\nLiabilities to the \nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\nPublic\n2013\n Jan\n2032.2\n866.1\n552.4\n3450.7\n266.1\n0.0\n27.8\n623.9\n386.1\n206.5\n4961.1\n3450.7\n Feb\n1987.8\n933.3\n491.5\n3412.5\n258.1\n0.0\n32.4\n631.9\n328.8\n223.3\n4887.0\n3417.9\n Mar\n1960.0\n976.3\n451.0\n3387.3\n290.9\n0.0\n32.8\n687.7\n367.2\n237.6\n5003.5\n3387.3\n Apr\n2074.5\n1046.3\n379.5\n3500.3\n247.6\n0.0\n37.9\n667.2\n341.3\n249.8\n5044.2\n3500.3\n May\n2066.0\n913.0\n479.9\n3459.0\n346.5\n0.0\n81.8\n674.4\n389.8\n209.0\n5160.4\n3459.0\n Jun\n2014.0\n919.6\n298.9\n3232.4\n553.0\n0.0\n74.1\n702.3\n364.1\n190.6\n5116.5\n3232.4\n Jul\n2054.1\n916.2\n245.9\n3216.2\n578.3\n0.0\n77.5\n699.7\n337.1\n202.9\n5111.7\n3216.2\n Aug.\n2017.4\n879.5\n253.2\n3150.1\n608.2\n0.0\n63.8\n694.9\n367.0\n210.8\n5094.7\n3150.1\n Sep\n2082.1\n899.3\n294.5\n3275.8\n674.6\n0.0\n74.0\n708.8\n298.8\n207.7\n5239.8\n3275.8\n Oct\n2125.9\n880.0\n349.3\n3355.2\n611.4\n0.0\n68.5\n703.0\n316.7\n206.0\n5260.9\n3355.2\n Nov\n1953.4\n861.2\n371.6\n3186.2\n627.8\n0.0\n75.8\n689.7\n291.3\n221.6\n5092.3\n3186.2\n Dec\n1980.4\n813.6\n517.1\n3311.1\n614.0\n0.0\n65.0\n730.9\n490.8\n184.0\n5395.7\n3311.1\n2014\n Jan\n2153.6\n802.7\n403.5\n3359.8\n661.3\n0.0\n55.9\n592.9\n516.1\n357.5\n5543.5\n3359.8\n Feb\n2111.8\n878.8\n494.6\n3485.2\n630.0\n0.0\n51.1\n609.5\n534.5\n359.0\n5669.5\n3485.2\n Mar\n2156.8\n919.6\n454.2\n3530.6\n635.5\n0.0\n44.8\n596.4\n522.7\n360.7\n5690.7\n3530.6\n Apr\n2267.5\n958.3\n435.7\n3661.5\n553.5\n0.0\n17.0\n595.0\n534.1\n352.4\n5713.6\n3661.5\n May\n2294.9\n975.8\n451.7\n3722.4\n585.0\n0.0\n13.7\n591.1\n591.4\n366.1\n5869.6\n3722.4\n Jun\n2248.9\n989.8\n506.1\n3744.8\n543.8\n0.0\n48.3\n591.2\n607.8\n376.7\n5912.6\n3744.8\n Jul\n2130.4\n892.9\n606.6\n3629.9\n560.8\n0.0\n39.5\n571.5\n597.5\n400.6\n5800.0\n3629.9\n Aug\n2202.3\n963.1\n539.9\n3705.3\n552.7\n0.0\n43.5\n580.7\n609.5\n401.2\n5892.9\n3705.3\n Sep\n2191.0\n1011.1\n562.6\n3764.8\n548.9\n0.0\n59.5\n544.8\n624.6\n412.7\n5955.3\n3764.8\n Oct\n2260.8\n1015.1\n509.9\n3785.8\n506.8\n0.0\n47.4\n543.3\n594.4\n426.0\n5903.8\n3785.8\n Nov\n2231.8\n943.4\n526.5\n3701.6\n509.4\n0.0\n90.6\n541.8\n597.5\n425.0\n5865.9\n3701.6\nDec\n2219.8\n1015.2\n457.9\n3692.9\n537.6\n0.0\n85.1\n560.7\n633.2\n430.0\n5939.5\n3692.9\n2015\nJan\n2056.2\n996.2\n561.7\n3614.0\n470.1\n0.0\n79.5\n728.5\n557.7\n234.3\n5684.2\n3614.0\nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES\nUS$ Millions\nAmounts Owing to\n \n \nMONTHLY ECONOMIC REVIEW \n22 \n \n \nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\n&\nBalances\nBalances \nBalances\nLiquid\nwith RBZ\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgris Pes\nAssets\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n2013\n Jan\n1.5\n2.7\n28.6\n0.0\n3.4\n0.0\n0.0\n36.2\n0.0\n236.7\n34.8\n60.2\n29.1\n397.0\n Feb\n4.7\n1.5\n18.4\n0.0\n4.5\n0.0\n0.0\n26.9\n0.0\n245.7\n34.8\n63.9\n28.9\n398.2\n Mar\n2.5\n1.1\n7.3\n-3.1\n1.2\n0.0\n0.0\n8.9\n0.0\n260.3\n34.2\n50.4\n28.8\n382.6\n Apr\n2.7\n1.3\n20.1\n-1.9\n1.2\n0.0\n0.0\n23.4\n0.0\n254.9\n34.2\n51.7\n27.7\n392.0\n May\n2.4\n4.1\n18.6\n-2.4\n4.5\n0.0\n0.0\n27.3\n0.0\n253.4\n34.6\n63.0\n12.7\n391.0\n Jun\n2.4\n3.6\n7.9\n1.1\n9.1\n0.0\n0.0\n24.1\n0.0\n260.3\n34.6\n51.4\n35.2\n405.6\n Jul\n1.9\n1.3\n2.8\n2.2\n3.4\n0.0\n0.0\n11.6\n0.0\n264.0\n34.8\n51.7\n35.5\n397.6\n Aug\n1.4\n1.7\n0.4\n0.6\n3.4\n0.0\n0.0\n7.4\n0.0\n265.6\n34.5\n45.5\n37.3\n390.3\n Sep\n1.2\n0.8\n0.0\n0.3\n3.4\n0.0\n0.0\n5.7\n0.0\n233.7\n35.8\n46.6\n38.6\n360.4\n Oct\n0.9\n0.5\n0.4\n0.6\n2.5\n0.0\n0.0\n4.8\n0.0\n234.8\n35.6\n41.3\n38.7\n355.2\n Nov\n0.4\n0.6\n0.1\n0.2\n2.5\n0.0\n0.0\n3.9\n0.0\n231.9\n35.5\n39.6\n38.3\n349.2\n Dec\n1.1\n0.5\n0.1\n0.4\n2.5\n0.0\n0.0\n4.6\n0.0\n232.7\n35.5\n29.2\n40.5\n342.5\n2014\n Jan\n0.1\n0.5\n0.0\n0.2\n1.8\n0.0\n0.0\n2.6\n0.0\n81.3\n10.0\n23.5\n34.7\n152.1\n Feb\n0.2\n0.4\n0.1\n0.1\n1.8\n0.0\n0.0\n2.5\n0.0\n77.6\n9.0\n24.1\n34.6\n147.9\n Mar\n0.1\n0.1\n0.1\n0.1\n1.6\n0.0\n0.0\n2.0\n0.0\n53.2\n8.7\n21.8\n32.5\n118.1\n Apr\n0.1\n0.4\n0.2\n0.3\n1.6\n0.0\n2.6\n5.2\n75.2\n8.5\n22.2\n32.4\n140.9\n284.4\n May\n0.2\n0.4\n0.0\n0.1\n0.3\n0.0\n0.9\n1.9\n68.7\n0.1\n14.6\n30.3\n114.6\n230.2\n Jun\n0.2\n0.2\n0.1\n0.0\n0.6\n0.0\n0.0\n1.2\n0.0\n66.8\n0.1\n14.7\n29.6\n112.4\n Jul\n0.2\n0.3\n0.0\n0.1\n0.3\n0.0\n0.0\n0.9\n0.0\n66.9\n0.1\n12.9\n28.7\n109.6\n Aug\n0.2\n0.7\n0.0\n0.1\n0.3\n0.0\n0.0\n1.3\n0.0\n64.4\n0.0\n19.4\n23.9\n109.0\n Sep\n0.4\n0.2\n0.0\n0.1\n0.3\n0.0\n0.0\n1.1\n0.0\n65.9\n0.1\n18.9\n19.7\n105.8\n Oct\n0.7\n0.7\n0.0\n0.1\n0.3\n0.0\n0.0\n1.7\n0.0\n68.3\n0.1\n10.8\n25.9\n106.9\n Nov\n0.6\n0.1\n0.0\n0.1\n0.3\n0.0\n0.0\n1.0\n0.0\n67.1\n0.1\n12.4\n25.8\n106.3\nDec\n0.9\n0.4\n0.0\n0.1\n0.3\n0.0\n0.0\n1.7\n0.0\n63.6\n0.1\n10.0\n24.6\n100.0\n2015\n Jan\n0.6\n0.3\n0.0\n0.1\n1.6\n0.0\n0.0\n2.0\n0.0\n70.2\n8.3\n19.0\n23.7\n123.8\nUS$ Millions\nTABLE 8.1 : ACCEPTING HOUSES - ASSETS\nLiquid Assets\nSecurities\n \n \nMONTHLY ECONOMIC REVIEW \n23 \n \n \nOf which\nDeposits\nCapital\nContigent\nOther\nTotal\nLiabilities to the \nand\nLiablities\nLiablities\nPublic\nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\n2013\n Jan\n106.9\n91.7\n21.3\n220.0\n44.8\n0.0\n2.7\n-72.4\n34.8\n167.2\n397.0\n220.0\n Feb\n102.8\n66.0\n55.7\n224.5\n45.3\n0.0\n2.7\n-77.8\n34.8\n168.7\n398.2\n224.5\n Mar\n104.3\n62.3\n52.8\n219.5\n45.8\n0.0\n1.2\n-97.3\n34.2\n179.3\n382.6\n219.5\n Apr\n107.3\n64.6\n56.3\n228.3\n45.4\n0.0\n1.2\n-98.1\n34.2\n181.1\n392.0\n228.3\n May\n112.2\n67.1\n54.4\n233.6\n46.7\n0.0\n1.2\n-99.4\n34.6\n174.3\n391.0\n233.6\n Jun\n114.6\n56.2\n52.3\n223.1\n46.7\n0.0\n1.2\n-91.2\n34.6\n191.2\n405.6\n223.1\n Jul\n111.3\n82.7\n27.0\n220.9\n47.1\n0.0\n1.2\n-94.1\n34.8\n187.8\n397.6\n220.9\n Aug\n109.5\n80.6\n25.2\n215.2\n47.5\n0.0\n1.2\n-101.7\n34.5\n193.6\n390.3\n215.2\n Sep\n111.2\n82.6\n19.0\n212.8\n47.9\n0.0\n1.2\n-114.9\n35.8\n177.8\n360.4\n212.8\n Oct\n112.5\n80.4\n14.9\n207.8\n48.2\n0.0\n1.2\n-114.3\n35.6\n176.7\n355.2\n207.8\n Nov\n122.6\n59.7\n20.0\n202.3\n48.2\n0.0\n1.2\n-118.2\n35.5\n180.2\n349.2\n202.3\n Dec\n134.5\n56.4\n6.9\n197.8\n48.9\n0.0\n1.2\n-127.6\n35.5\n186.7\n342.5\n197.8\n2014\n Jan\n36.8\n57.7\n5.7\n100.1\n11.7\n0.0\n0.0\n0.7\n10.0\n29.5\n152.1\n100.1\n Feb\n47.6\n48.3\n0.0\n95.8\n11.7\n0.0\n0.0\n-10.9\n9.0\n42.3\n147.9\n95.8\n Mar\n41.0\n55.8\n0.0\n96.9\n12.0\n0.0\n0.0\n-17.7\n8.7\n18.4\n118.1\n96.9\n Apr\n57.4\n40.3\n0.0\n97.7\n12.2\n0.0\n0.0\n-19.8\n8.5\n42.4\n140.9\n97.7\n May\n42.8\n34.6\n0.0\n77.4\n0.0\n0.0\n0.0\n4.7\n0.1\n32.5\n114.6\n77.4\n Jun\n42.8\n33.2\n0.0\n76.0\n0.0\n0.0\n0.0\n2.3\n0.1\n33.7\n112.1\n76.0\n Jul\n42.6\n33.8\n0.0\n76.3\n0.0\n0.0\n0.0\n-8.7\n0.1\n41.8\n109.6\n76.3\n Aug\n36.4\n40.4\n0.0\n76.8\n0.0\n0.0\n0.0\n-7.8\n0.0\n40.0\n109.0\n76.8\n Sep\n40.9\n33.9\n0.0\n74.9\n0.0\n0.0\n0.0\n-7.6\n0.1\n38.4\n105.8\n74.9\n Oct\n39.9\n33.7\n0.0\n73.6\n0.0\n0.0\n0.0\n-9.6\n0.1\n42.8\n106.9\n73.6\n Nov\n39.4\n33.3\n0.0\n72.7\n0.0\n0.0\n0.0\n-10.9\n0.1\n44.4\n106.3\n72.7\nDec\n36.9\n31.2\n0.0\n68.1\n0.0\n0.0\n0.0\n-17.9\n0.1\n49.7\n100.0\n68.1\n2015\n Jan\n39.0\n40.9\n0.0\n80.0\n11.7\n0.0\n0.0\n-47.0\n8.3\n70.7\n123.8\n80.0\nAmounts Owing to\nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n24 \n \nMortgage\nOther\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvances\nAdvances\nAssets\nAssets\n&\nBalances \nNostro \nwith RBZ/1\nCoin\nwith Other \nBalances\nTrade\nTreasury\nAgris Pes\nat Banks\nBanks\nBills\n2013\nJan\n20.4\n125.5\n0.0\n0.2\n0.0\n0.0\n146.1\n0.0\n283.2\n118.5\n36.1\n121.4\n705.3\nFeb\n20.2\n64.3\n0.0\n0.0\n0.0\n0.0\n84.5\n0.0\n291.8\n117.9\n35.3\n121.4\n734.2\nMar\n18.8\n129.1\n0.0\n0.2\n20.0\n0.0\n168.1\n0.0\n291.4\n116.9\n39.5\n121.4\n737.3\nApr\n16.9\n159.8\n0.0\n0.2\n20.2\n0.0\n197.2\n0.0\n294.8\n115.5\n39.5\n122.1\n769.1\nMay\n30.2\n179.6\n0.0\n0.0\n20.3\n0.0\n230.0\n0.0\n307.3\n120.3\n40.4\n121.9\n819.9\nJun\n28.6\n178.8\n0.0\n0.0\n20.0\n0.0\n227.3\n0.0\n314.2\n122.4\n44.6\n121.8\n830.3\nJul\n26.1\n207.4\n0.0\n0.0\n20.0\n0.0\n253.5\n0.0\n312.4\n123.1\n48.3\n121.6\n858.9\nAug\n34.7\n204.1\n0.0\n0.0\n20.0\n0.0\n258.8\n0.0\n320.6\n123.0\n46.4\n124.1\n872.9\nSep\n36.4\n204.9\n0.0\n0.0\n20.0\n0.0\n261.3\n0.0\n353.4\n122.7\n51.9\n124.6\n913.9\nOct\n39.3\n186.8\n0.0\n0.0\n20.0\n0.0\n246.1\n0.0\n358.4\n128.2\n51.8\n122.4\n906.9\nNov\n39.7\n163.1\n0.0\n0.0\n40.0\n0.0\n242.8\n0.0\n361.6\n135.8\n43.6\n122.6\n906.4\nDec\n34.8\n158.8\n0.0\n0.0\n40.0\n0.0\n233.6\n0.0\n381.5\n127.7\n55.2\n123.0\n920.9\n2014\nJan\n30.9\n147.5\n0.2\n40.0\n0.0\n218.6\n0.0\n384.5\n136.4\n64.4\n125.3\n929.1\nFeb\n30.2\n165.0\n0.0\n0.2\n40.0\n0.0\n235.3\n0.0\n385.8\n132.0\n65.4\n125.4\n943.9\nMar\n47.5\n166.2\n0.0\n0.2\n40.0\n0.0\n253.8\n0.0\n390.4\n132.1\n68.8\n125.0\n970.1\nApr\n45.2\n161.0\n0.0\n0.2\n40.0\n0.0\n246.5\n0.0\n401.8\n132.4\n76.6\n124.7\n981.9\nMay\n47.7\n190.7\n0.0\n0.2\n40.0\n0.0\n278.6\n0.0\n394.0\n147.0\n82.7\n124.3\n1026.7\nJun\n39.5\n187.9\n0.0\n0.0\n40.0\n0.0\n267.4\n0.0\n400.0\n150.4\n84.0\n124.4\n1026.1\nJul\n40.6\n180.9\n0.0\n0.0\n40.0\n0.0\n261.5\n0.0\n431.8\n159.4\n84.1\n124.4\n1061.2\nAug\n17.8\n219.8\n0.0\n0.0\n51.4\n0.0\n289.1\n0.0\n442.4\n166.5\n86.4\n124.2\n1108.6\nSep\n51.2\n183.1\n0.0\n0.0\n51.4\n0.0\n285.7\n0.0\n452.1\n173.8\n95.6\n123.8\n1131.0\nOct\n37.1\n199.8\n0.0\n0.0\n51.7\n0.0\n288.6\n0.0\n483.1\n179.7\n102.2\n124.0\n1177.6\nNov\n53.2\n217.5\n0.0\n0.0\n32.8\n0.0\n303.5\n0.0\n512.4\n169.3\n109.0\n123.5\n1217.6\n Dec\n47.1\n211.2\n0.0\n0.0\n52.6\n0.0\n310.9\n0.0\n512.9\n169.0\n102.9\n125.3\n1221.0\n2015\nJan\n37.3\n196.0\n21.7\n0.1\n51.8\n0.0\n307.0\n0.0\n511.6\n172.1\n105.8\n126.1\n1222.5\nLiquid Assets\nSecurities\nTABLE 9.1 : BUILDING SOCIETIES - ASSETS\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n25 \n \nOf which\nCapital\nOther\nTotal\nLiabilities to the \nand\nLiabilities\nPublic\nEnd of\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nOther Banks\nReserves\n2013\nJan\n230.0\n192.8\n422.8\n0.0\n0.0\n180.3\n102.3\n705.4\n422.8\nFeb\n255.7\n194.2\n449.9\n0.0\n0.0\n183.7\n100.6\n734.2\n449.9\nMar\n250.6\n203.9\n454.5\n0.0\n0.0\n187.2\n95.7\n737.3\n454.5\nApr\n252.9\n226.6\n479.5\n26.5\n50.4\n190.6\n22.3\n769.3\n479.5\nMay\n315.3\n212.0\n527.4\n26.6\n49.4\n193.3\n23.6\n820.2\n527.4\nJun\n309.0\n222.6\n531.6\n0.0\n0.0\n198.3\n100.4\n830.3\n531.6\nJul\n339.1\n222.8\n561.9\n21.7\n50.2\n202.0\n23.5\n859.2\n561.9\nAug\n298.4\n270.1\n568.4\n0.0\n0.0\n206.3\n95.8\n873.1\n568.4\nSep\n336.1\n246.9\n583.0\n20.8\n77.8\n209.2\n23.4\n914.1\n583.0\nOct\n310.9\n264.9\n575.8\n21.0\n74.4\n212.0\n24.0\n907.2\n575.8\nNov\n328.9\n244.3\n573.1\n21.0\n72.3\n214.8\n25.4\n906.7\n573.1\nDec\n370.3\n197.3\n567.6\n30.8\n75.8\n219.5\n27.3\n921.0\n567.6\n2014\nJan\n313.9\n253.1\n567.0\n26.1\n80.6\n225.9\n29.5\n929.1\n567.0\nFeb\n318.7\n264.4\n583.1\n25.1\n81.3\n228.6\n25.8\n943.9\n583.1\nMar\n374.6\n234.6\n609.2\n24.7\n79.6\n231.4\n25.2\n970.1\n609.2\nApr\n358.4\n262.7\n621.1\n24.9\n76.5\n234.0\n25.4\n981.9\n621.1\nMay\n436.2\n233.2\n669.4\n24.7\n77.3\n238.0\n17.1\n1026.7\n669.4\nJun\n440.1\n212.2\n652.3\n34.8\n78.9\n243.1\n17.3\n1026.3\n652.3\nJul\n362.4\n302.9\n665.3\n30.1\n104.3\n244.2\n17.5\n1061.3\n665.3\nAug\n358.8\n336.8\n695.5\n35.7\n105.7\n250.6\n21.2\n1108.7\n695.5\nSep\n394.8\n297.6\n692.4\n54.2\n106.9\n253.5\n23.9\n1131.0\n692.4\nOct\n364.5\n368.0\n732.5\n54.2\n105.3\n258.5\n27.3\n1177.7\n732.5\nNov\n376.9\n392.0\n768.9\n54.6\n104.4\n262.9\n27.2\n1217.8\n768.9\nDec\n400.9\n387.5\n788.4\n54.2\n102.0\n262.7\n27.6\n1234.9\n788.4\n2015\nJan\n373.0\n397.1\n770.2\n54.6\n99.1\n267.8\n31.0\n1222.6\n770.2\nDeposits\nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES\nUS$ Millions \nAmounts Owing to\n \n \nMONTHLY ECONOMIC REVIEW \n26 \n \n \n \n \n \n \n \n \nMarket Capitalisation\nIndustrial\nMining\nMarket Turnover(US$) Volume of Shares\nUS$ Millions\n2014\nJan\n189.25\n35.4\n63,972,387.0\n170,104,078\n4,882.1\nFeb\n189.45\n39.24\n25,811,746.9\n135,455,029\n4,906.9\nMar\n176.32\n29.51\n28,884,400.2\n381,649,234\n4,560.3\nApr\n172.91\n29.64\n51,346,054.5\n429,085,166\n4,473.5\nMay\n174.89\n35.45\n35,903,574.8\n235,704,129\n4,485.1\nJun\n186.57\n61.32\n28,544,304.7\n178,469,676\n4,873.4\nJuly\n188.07\n95.00\n25,224,550.4\n322,407,141\n4,959.2\nAug\n196.43\n104.8\n66,399,632.9\n328,161,452\n5,186.6\nSep\n195.25\n92.75\n34,056,010.7\n210,942,393\n5,140.2\nOct\n177.88\n70.38\n28,256,642.5\n156,444,539\n4,664.8\nNov\n171.45\n64.39\n34,765,242.8\n155,854,066\n4,517.9\nDec\n162.79\n71.71\n29,701,204.8\n475,024,051\n4,327.0\n2015\nJan\n164.9\n58.13\n16,062,740.8\n57,390,451\n4,365.1\nIndices\nTable 10: ZIMBABWE STOCK MARKET STATISTICS\n \n \nMONTHLY ECONOMIC REVIEW \n27 \n \nCommercial\nAccepting\nBuilding \nEnd of\nBanks\nHouses\nP.O.S.B.\nSocieties\nTOTAL\n2014\nJan\n1,206.2\n63.3\n70.1\n567.0\n1,906.7\nFeb\n1,373.4\n48.3\n71.5\n583.1\n2,076.3\nMar\n1,373.8\n55.8\n75.1\n609.2\n2,113.9\nApr\n1,394.0\n40.3\n81.0\n621.1\n2,136.4\nMay\n1,427.5\n34.6\n77.5\n669.4\n2,209.0\nJun\n1,495.8\n33.2\n81.3\n652.3\n2,262.6\nJul\n1,499.5\n33.8\n84.2\n665.3\n2,282.7\nAug\n1,502.9\n40.4\n84.0\n695.5\n2,322.9\nSep\n1,573.8\n33.9\n88.6\n692.4\n2,388.8\nOct\n1,525.0\n33.7\n87.5\n732.5\n2,378.7\nNov\n1,469.9\n33.3\n89.8\n768.9\n2,361.8\nDec\n1,473.1\n31.2\n84.8\n788.4\n2,377.5\n2015\nJan\n1,557.9\n40.9\n86.3\n770.2\n2,455.2\n1/ Comprises all deposits other than demand deposits.\nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n28 \n \n \nLiquid\nPrescribed\nExcess\nLiquid\nPrescribed\nExcess\nassets\nliquid\nliquid\nassets\nliquid\nLiquid\nEnd of\nheld\nassets/1\nassets\nheld\nassets/1\nassets\n2014\nJan\n1,417.0\n1,007.9\n409.0\n2.6\n30.0\n-27.4\nFeb\n1,466.6\n1,045.6\n421.0\n2.5\n28.7\n-26.2\nMar\n1,512.9\n1,059.2\n453.7\n2.0\n29.1\n-27.1\nApr\n1,608.4\n1,098.5\n510.0\n5.2\n29.3\n-24.1\nMay\n1,700.6\n1,116.7\n583.9\n1.9\n23.2\n-21.3\nJun\n1,716.1\n1,123.4\n592.7\n1.2\n22.8\n-21.6\nJul\n1,553.7\n1,089.0\n464.7\n0.9\n22.9\n-22.0\nAug\n1,618.6\n1,111.6\n507.0\n1.3\n23.0\n-21.7\nSep\n1,664.2\n1,129.4\n534.7\n1.1\n22.5\n-21.3\nOct\n1,644.7\n1,135.7\n508.9\n1.7\n22.1\n-20.3\nNov\n1,602.2\n1,110.5\n491.7\n1.0\n21.8\n-20.8\nDec\n1,571.0\n1,107.9\n463.1\n1.7\n20.4\n-18.7\n2015\nJan\n1,335.6\n1,084.2\n251.4\n2.0\n24.0\n-22.0\n1/ With effect from 1 August 2011, the prescribed liquid asset ratio was reviewed to 25% of liabilities to the public, from 20%. \nUS$ Millions\nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \nCommercial Banks\n Accepting Houses\n \n \nMONTHLY ECONOMIC REVIEW \n29 \n \n \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2013\nJul\n3955.45\n12.31\n132.61\n205.37\n164.08\n139.13\nAug\n3351.13\n10.45\n138.05\n203.41\n189.48\n128.68\nSep\n3409.17\n13.34\n120.41\n190.44\n173.13\n142.32\nOct\n3641.98\n13.75\n121.55\n206.51\n201.51\n156.26\nNov\n3134.35\n11.4\n102.19\n229.52\n222.18\n57.34\nDec\n3438.08\n4.04\n130.15\n265.8\n268.94\n68.58\nAnnual Total\n41797.24\n136.91\n1450.48\n2382.07\n2091.02\n1361.84\n2014\nJan\n3093.01\n5.24\n102.26\n233.1\n228.25\n68.31\nFeb\n2954.93\n10.73\n96.27\n193.9\n217.14\n64.42\nMar\n3332.79\n10.4\n103.58\n232.94\n255.32\n87.94\nApr\n3439.33\n9.66\n126.26\n253.16\n264.38\n96.29\nMay\n3915.31\n13.65\n117.11\n181.35\n146.64\n121.98\nJun\n3657.44\n12.42\n110.38\n250.87\n284.18\n104.28\nJul\n3955.45\n11.72\n125.81\n267\n312.35\n101.75\nAug\n3467.34\n9.36\n135.9\n273.39\n320.36\n103.26\nSep\n4037.98\n11.16\n138.09\n280.8\n341.23\n115.94\nOct\n3843.84\n13.58\n150.09\n291.68\n362.30\n117.40\nNov\n4104.33\n9.33\n160.40\n299.94\n358.76\n103.76\nDec\n4615.04\n11.53\n148.5\n336.65\n395.93\n124.33\n2015\nJan\n3659\n11.81\n154.43\n311.94\n352.18\n113.46\nTABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY\nValues of Transactions (US$ in millions)\n \n \nMONTHLY ECONOMIC REVIEW \n30 \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2013\nJul\n205.85\n35.41\n1052.26\n822.57\n10099.72\n42.74\nAug\n187.25\n30.29\n1114.86\n825.75\n11551.94\n41.78\nSep\n201.22\n33.17\n1003.98\n799.62\n8701.56\n44.48\nOct\n212.66\n35.69\n1073.88\n873.19\n9769.81\n48.59\nNov\n186.64\n31.74\n904.27\n927.93\n14753.35\n24.04\nDec\n180.8\n11.82\n1033.73\n1042.32\n12273.02\n23.56\nAnnual Total\n2291.82\n367.02\n12011.07\n9631.5\n119144.68\n447.44\n2014\nJan\n182.48\n29.41\n973.79\n815.89\n11141.19\n24.19\nFeb\n175.09\n32.95\n991.91\n799.12\n10631.6\n25.1\nMar\n192.02\n32.35\n1163.76\n947.64\n12859.5\n30.82\nApr\n183.63\n28.12\n1184.85\n974.37\n13298.04\n29.23\nMay\n215.2\n37.09\n954.18\n793.43\n12146.9\n38.68\nJun\n193.58\n32.98\n1164.73\n966.45\n14163.56\n34.25\nJul\n199.59\n34.34\n1272.91\n1038.44\n15370.63\n37.68\nAug\n170.86\n27.25\n1300.35\n1122.41\n16268.07\n33.84\nSep\n197.88\n30.39\n1158.84\n1057.48\n15991.79\n39.35\nOct\n200.32\n34.58\n1193.38\n1086.16\n17527.40\n40.96\nNov\n171.45\n27.66\n1143.69\n1077.30\n17876.31\n42.01\nDec\n189.83\n27.49\n1161.59\n1162.71\n19347.91\n40.49\n2015\nJan\n170.77\n29.55\n1174.09\n1124.49\n16903.26\n37.6\nTABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY\nVolumes of Transactions (in thousands)\n \n \n31\n \nMONTHLY ECONOMIC REVIEW", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/January2015.pdf"}

dedup/cb_requests/1debad5a04019bb1b3a01536e40b9ee1.json

@@ -0,0 +1 @@
+{"doc_id": "1debad5a04019bb1b3a01536e40b9ee1", "text": "[Date] \n \n \n \n \nDECEMBER 2015 \n \n \ni \n \nMONTHLY ECONOMIC REVIEW \nTABLE OF CONTENTS \nSELECTED ECONOMIC INDICATORS ________________________________________ 1 \nSTOCK MARKET DEVELOPMENTS __________________________________________ 2 \nMONETARY DEVELOPMENTS ______________________________________________ 2 \nINFLATION OUTTURN ______________________________________________________ 4 \nAnnual Inflation __________________________________________________________________ 4 \nMonthly Inflation _________________________________________________________________ 4 \nNATIONAL PAYMENTS SYSTEM ____________________________________________ 5 \nZimbabwe Electronic Transfer Settlement System (ZETSS) ______________________________ 5 \nCard Based Transactions ___________________________________________________________ 5 \nMobile and Internet Based Transactions ______________________________________________ 5 \nCheque Transactions ______________________________________________________________ 5 \n \n \n \n \n \n \n1 \n \nMONTHLY ECONOMIC REVIEW \n \n \n \n2015 \nNovember \n2015 \nDecember \nMonth-on- \nMonth \nChange \nZ.S.E. Mining Index1 \n22.3 \n23.7 \n6.2% \nZ.S.E. Industrial Index1 \n117.6 \n114.9 \n-2.3% \nMoney Supply (US$)2 \n4 745.2 million \n4 765.4 million \n0.4% \nMoney Supply (M3) Annual Growth2 \n7.5% \n8.2% \n \nYearly Inflation3 \n-2.46% \n-2.47% \n \nMonthly Inflation3 \n-0.2% \n-0.1% \n \nNominal Lending Rate \n4.0-16.3% \n6.0-16.0% \n \nSources: \n1 Zimbabwe Stock Exchange (ZSE) \n2 Reserve Bank of Zimbabwe (RBZ) \n3 Zimbabwe National Statistics Agency (ZIMSTAT) \nSELECTED ECONOMIC INDICATORS \n \n \nMONTHLY ECONOMIC REVIEW \n2 \n \nSTOCK MARKET DEVELOPMENTS \nDuring the month of December 2015, global markets \nrecorded losses due to concerns of the slowdown in \nthe Chinese economy. The decline occurred despite \nthe United States of America Federal Reserve Bank \ninterest rate hike of 0.25%. \nOver the same period, African markets also recorded \nlosses partly due to concerns over an acceleration of \ncapital outflows, as global investors shifted their \nportfolio investments to the US market. \nThe Zimbabwe Stock Exchange (ZSE) recorded \nmixed trading with the industrial index recording \nlosses, whilst the mining index recovered some of the \nlosses it had registered during the year. The industrial \nindex lost 2.3%, from 117.6 points in November 2015 \nto 114.9 points in December 2015. This was \nunderpinned by losses in heavily capitalized counters. \nOver the same period, the mining index gained 6.2%, \nfrom 22.3 points to 23.7 points. \n \n \n \nTrading volumes increased in the month of December \n2015, following block trades in Dawn, Delta, Econet \nand Simbisa shares. These block trades raised the \ntotal volume of shares traded from 90.4 million shares \nin November 2015, to 183.8 million shares in \nDecember 2015. Over the same period, turnover also \nrose from US$8.9 million to US$16.4 million. \n \n \nSource: Zimbabwe Stock Exchange, 2015 \nThe losses recorded in heavily capitalized counters \nresulted in the ZSE market capitalisation declining \nfurther to US$3 073.4 million in December 2015, \nfrom US$3 141.7 million in November 2015. \n \n0\n50\n100\n150\n200\n250\n28-Feb-13\n30-Apr-13\n30-Jun-13\n31-Aug-13\n31-Oct-13\n31-Dec-13\n28-Feb-14\n30-Apr-14\n30-Jun-14\n31-Aug-14\n31-Oct-14\n31-Dec-14\n28-Feb-15\n30-Apr-15\n30-Jun-15\n31-Aug-15\n31-Oct-15\n31-Dec-15\nFigure 1: ZSE Indices\nIndustrial\nMining\n0.00\n0.50\n1.00\n1.50\n2.00\n2.50\n3.00\n3.50\n4.00\n0.00\n20.00\n40.00\n60.00\n80.00\n100.00\n120.00\nVALUES TRADED (US$ MILLIONS)\nVOLUMES TRADED (MILLIONS)\nFigure 2: ZSE: Daily Volumes and \nFigure 2: ZSE: Daily Volumes and Values Traded\nValues Traded\nVolume\nTurnover\nSource: Zimbabwe Stock Exchange, 2015 \n \n \nMONTHLY ECONOMIC REVIEW \n3 \n \nMONETARY DEVELOPMENTS \nAnnual growth in money supply1 continued on an \nupward trend rising to 8.2% in December 2015, from \n7.5% in November 2015. On a monthly basis, broad \nmoney rose by 0.4% to US$4 765.4 million in \nDecember 2015. The growth was underpinned by \nincreases in most deposit classes. \n \nSource: Reserve Bank of Zimbabwe, 2015 \nThe annual growth in broad money was largely driven \nby an increase of US$263.3 million; US$61.5 million; \nand US$44.7 million in demand, savings and long-\nterm deposits, respectively. Demand deposits \nconstituted 51%; long term, 19%; short term, 17%, \nand savings, 13% of total deposits. \nThe year-on-year growth in total banking sector credit \ncontinued on an upward trend, rising to 27% in \nDecember 2015, from 22.8% in November 2015. On \na monthly basis, banking sector credit increased by \n4% in December 2015 to US$5 560.7 million, from \nUS$5 345.3 million in November 2015. \n \n1 Money supply is total deposits less interbank deposits. \n \n \nAnnual growth in credit to the private sector grew by \n1% in December 2015, down from 2% in November \n2015. Month-on-month, credit to the private sector, \nhowever, declined by 1.7% to US$3 835.7 million in \nDecember 2015. \nThe sectorial distribution of private sector credit was \nas follows: agriculture (21.2%); services including \ntourism \n(17.1%); \ndistribution \n(13.2%); \nmanufacturing (16.2%); mining (5.9%); financial \norganisations and investments, (3.7%); transport and \ncommunications (3%); and construction (1.1%). \nCredit to households stood at 18.6% in December \n2015, partly reflecting the dominance of consumptive \nborrowing in the economy. \n \n-2\n0\n2\n4\n6\n8\n10\n12\n14\n16\n18\n -\n 1.0\n 2.0\n 3.0\n 4.0\n 5.0\n 6.0\nApr\nJun\nAug\nOct\nDec\nFeb\nApr\nJun\nAug\nOct\nDec\nFeb\nApr\nJun\nAug\nOct\nDec\n%\nUS$ BILLIONS\nFigure 3: Money Supply\nFigure 3: Money Supply\nM3\nM3 Annual Growth\nShort Term\n17%\nLong Term \n19%\nDemand\n51%\nsavings\n13%Figure 4: Banki\nFigure 4: Banking Sector DepositsDecember 20\nDecember 2015\nSource: Reserve Bank of Zimbabwe, 2015 \n \n \nMONTHLY ECONOMIC REVIEW \n4 \n \n \nSource: Reserve Bank of Zimbabwe, 2015 \nIn terms of proportions, private sector credit was used \nas follows: asset purchases, 43.4%; inventory build-\nup, 34.3%; consumer durables, 13.1%; and vehicle \npurchases, 3.4%. Notably, funds utilized for capital \ndevelopment remained low at 4.5% of total loans and \nadvances. Pre and post shipment financing accounted \nfor 1.3% of total credit to the private sector. \nINFLATION OUTTURN \n \nAnnual Inflation \n \nThe annual headline inflation declined marginally to \n-2.47% in December 2015, from -2.46% recorded in \nNovember 2015. The slight increase in inflation was \nmainly driven by food inflation. Partially offsetting \nthis increase was a decline in non-food inflation. \n \n \nSource: ZIMSTAT, 2015 \nAnnual inflation has remained in negative territory \nsince October 2014, due to the continued downward \ncorrection in both food and non-food prices and low \naggregate demand in the economy. \nThe year-on-year food inflation stood at -3.7% in \nDecember 2015, an increase from the October 2015 \nrate of -4.0% and November 2015 rate of -3.9%. Food \ninflation was weighed down by declines in bread and \ncereals and vegetables. \nAnnual non-food inflation decelerated from -1.8% in \nNovember 2015 to -1.9% in December 2015. The \ndecline was largely driven by housing, water, \nelectricity, gas and other fuels; communication; \nfurniture, household equipment and maintenance and \nclothing and footwear. The 11.1% increase in \nLoans & Advances\n88.37%\nBills \nDiscounted\n0.18%\nBankers \nacceptances\n0.27%\nOther \ninvestments\n2.14%\nMortgages\n9.04%Figure 5: Credit to Private Sector\nFigure 5: Credit to Private SectorDecember 2015\nDecember 2015\n-4\n-3\n-2\n-1\n0\n1\n2\nDec-13\nJan-14\nFeb-14\nMar-14\nApr-14\nMay-14\nJun-14\nJul-14\nAug-14\nSep-14\nOct-14\nNov-14\nDec-14\nJan-15\nFeb-15\nMar-15\nApr-15\nMay-15\nJun-15\nJul-15\nAug-15\nSep-15\nOct-15\nNov-15\nDec-15\nFigure 6: Annual Inflation \n(%)\nHeadline Inflation\nFood\nNon Food\n \n \nMONTHLY ECONOMIC REVIEW \n5 \n \neducation inflation, however, partially offset the \ndeclines in other sub-categories. \n \nMonthly Inflation \nThe month-on-month inflation rate for December \n2015 stood at -0.11%, shedding 0.27 percentage \npoints from 0.16% recorded in November 2015. The \ndecline was driven by both food and non-food \ninflation. \nMonthly food inflation reverted to negative territory, \nfalling from 0.04% in November 2015, to -0.21% in \nDecember 2015. This was mainly influenced by bread \nand cereals; milk, cheese and eggs; and oils and fats. \nThe declines in these sub-categories were, however, \npartially offset by positive monthly inflation recorded \nfor vegetables; meat; and sugar, jam, honey, \nchocolate and confectioneries, which recorded in \nDecember 2015. \nLikewise, the monthly non-food inflation rate fell, \nshedding 0.28 percentage points from the November \n2015 rate of -0.22%. The decline was largely driven \nby transport; alcoholic beverages and restaurants and \nhotels. \nNATIONAL PAYMENTS SYSTEM \n \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \n \nThe value of transactions processed through the \nRTGS system increased by 17% in December 2015 to \nUS$4.17 billion, from US$3.55 billion recorded in \nNovember 2015. The volume of transactions \nregistered an increase of 8% from 143 435 to 155 044 \nduring the same period. \n \n \nMobile and Internet Based Transactions \n \nThe total value of mobile and internet based \ntransactions increased from US$571.3 million in \nNovember 2015, to US$690.8 million in December \n2015. \nSource: Reserve Bank of Zimbabwe, 2015 \n \nCard Based Transactions \n \nCard based transactions also increased from \nUS$477.9 \nmillion \nin \nNovember \n2015, \nto \nUS$557.9 million in December 2015. \n \nCheque Transactions \n \nThe value of cheque transactions registered an 8.9% \ndecrease, from US$12 million in November 2015, to \nUS$11 million in December 2015. \n \nRESERVE BANK OF ZIMBABWE \nJANUARY 2016\n -\n 0.5\n 1.0\n 1.5\n 2.0\n 2.5\n 3.0\n 3.5\n 4.0\n 4.5\n 5.0\nDec-12\nApr-13\nAug-13\nDec-13\nApr-14\nAug-14\nDec-14\nApr-15\nAug-15\nDec-15\n -\n 50\n 100\n 150\n 200\n 250\nVALUE IN US$ BILLIONS\nVOLUME IN THOUSANDS\nFigure 7: Z\nFigure 7: ZETSS Volumes and Values\nValues\nVolume\nValue\n \n \n6 \n \nMONTHLY ECONOMIC REVIEW \nStatistical Tables \n \n \n1. Monetary Statistics \n \n1.1 Monetary Aggregates \n \n \n \n \n \n 8 \n \n1.2 Broad Money Survey \n \n \n \n \n \n 9 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n10 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n11 \n \n 2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 12 \n \n2.2 Sectoral Analysis of Commercial Banks Deposits \n \n13 \n \n \n \n3. External Statistics \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n14 \n \n4. Interest Rates \n \n4.1 Lending Rates \n \n \n \n \n \n \n15 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n16 \n \n5. Inflation \n \n5.1 Monthly Inflation \n \n \n \n \n \n17 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n18 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n19 \n \n7. Commercial Banks \n \n7.1 Assets \n \n \n \n \n \n \n \n20 \n \n7.2 Liabilities \n \n \n \n \n \n \n21 \n \n \nMONTHLY ECONOMIC REVIEW \n7 \n \n \n8. Merchant Banks \n \n8.1 Assets \n \n \n \n \n \n \n \n22 \n \n8.2 Liabilities \n \n \n \n \n \n \n23 \n \n 9. Building Societies \n \n9.1 Assets \n \n \n \n \n \n \n \n24 \n \n9.2 Liabilities \n \n \n \n \n \n \n25 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n26 \n \n11. Savings with Financial Institutions \n \n \n \n \n27 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n28 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n \n \n13.1 Values of Transactions \n \n \n \n \n29 \n \n13.2 Volumes of Transactions \n \n \n \n \n30 \n \n \n \n \n \n \n \n \n8 \n \nMONTHLY ECONOMIC REVIEW \n \n \n \n \n \n \n \n \n \n \n \n \nDecember\nJanuary\nFebruary\nMarch\nApril\nMay\nJune\nJuly\nAugust\nSeptember\nOctober\nNovember\nDecember\nBond Coins\n298.6\n567.1\n1,096.7\n1,294.0\n1,749.3\n2,316.7\n2,684.1\n2,719.3\n3,016.3\n3,425.5\n4,445.3\n5,789.3\n7,127.0\nRBZ Demand Deposits\n144.5\n714.7\n898.5\n545.0\n491.6\n340.2\n4,035.0\n3,889.6\n3,480.3\n3,478.9\n3,485.7\n2,470.9\n726.0\nComm. Banks Dem. Deposits\n2,121,401.6\n1,967,789.9\n1,978,595.1\n2,051,081.7\n1,990,235.2\n2,017,918.3\n2,112,470.2\n2,023,527.6\n2,168,409.0\n2,166,471.3\n2,149,026.8\n2,358,226.5\n2,362,538.7\nMerchant Banks Dem. Deposits\n36,942.7\n39,049.7\n38,382.5\n68,611.1\n63,935.0\n63,899.2\n62,949.9\n62,949.9\n62,949.9\n62,157.8\n61,925.6\n58,750.3\n58,524.4\nM1\n2,158,787.4\n2,008,121.3\n2,018,972.8\n2,121,531.8\n2,056,411.0\n2,084,474.4\n2,182,139.2\n2,093,086.3\n2,237,855.5\n2,235,533.5\n2,218,883.4\n2,425,237.0\n2,428,916.0\nComm. Banks Savings Deposits\n267,179.5\n282,832.4\n240,444.7\n230,198.0\n267,921.4\n275,167.8\n248,074.6\n239,113.1\n227,534.6\n230,176.6\n231,465.3\n259,856.4\n266166.63\nBuilding Soc. Savings Deposits\n236,423.8\n233,498.2\n238,848.9\n244,746.0\n256,526.3\n280,947.9\n279,625.3\n275,914.5\n277,271.4\n230,176.6\n294,208.3\n308,439.9\n296041.79\nP O S B Savings Deposits\n69,601.1\n70,144.8\n72,839.1\n75,993.4\n74,678.1\n71,195.6\n73,397.6\n68,785.7\n71,554.2\n77,161.5\n73,380.5\n76,307.7\n72505.78\nComm. Banks U-30 Day Deposits\n654,559.9\n638,395.6\n574,946.1\n645,401.5\n607,334.3\n670,242.5\n707,686.1\n587,421.2\n505,981.9\n613,287.8\n565,136.6\n565,317.5\n650234.31\nMerchant Banks U-30 Day Deposits\n31,176.0\n40,928.2\n40,362.2\n12,132.4\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.00\nBuilding Soc. U- 30 Day Deposits\n144,211.5\n127,399.4\n149,834.6\n152,280.6\n189,428.7\n175,953.7\n188,805.2\n171,250.8\n156,077.5\n190,548.2\n144,911.8\n127,578.2\n165352.52\nM2\n3,561,939.1\n3,401,319.9\n3,336,248.4\n3,482,283.7\n3,452,299.9\n3,557,981.9\n3,679,728.0\n3,435,571.6\n3,476,275.0\n3,576,884.3\n3,527,985.9\n3,762,736.7\n3,879,217.1\nComm. Banks O-30 Day Deposits\n449,703.8\n544,421.5\n597,685.2\n503,769.1\n618,804.9\n536,216.7\n509,642.0\n651,895.8\n622,991.6\n611,608.0\n628,213.7\n503,244.7\n420265.08\nMerchant Banks O-30 Day Deposits\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\nBuilding Soc. O- 30 Day Deposits\n365,334.8\n366,978.6\n375,166.9\n355,362.1\n340,739.4\n364,490.5\n326,111.5\n351,579.9\n340,974.7\n303,177.5\n409,350.0\n444,267.1\n432822.35\nBuilding Soc. Other Share Deposits\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11,266.6\n11266.60\nP O S B Time Deposits\n15,174.4\n16,138.8\n17,519.8\n17,638.5\n15,733.8\n18,011.8\n17,261.6\n23,646.5\n21,540.3\n24,019.0\n24,010.2\n23,668.6\n21851.26\nM3\n4,403,418.7\n4,340,125.3\n4,337,886.9\n4,370,320.0\n4,438,844.6\n4,487,967.5\n4,544,009.7\n4,473,960.3\n4,473,048.2\n4,526,955.4\n4,600,826.4\n4,745,183.7\n4,765,422.3\nTABLE 1.1 : MONETARY AGGREGATES\n US$ Thousands\n2015\n2014\n \n \nMONTHLY ECONOMIC REVIEW \n9 \n \n \nDECEMBER\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nNET FOREIGN ASSETS \n-719,401.4\n-714,190.6\n-763,306.5\n-565,959.3\n-636,028.1\n-681,066.5\n-775,512.6\n-723,772.8\n-727,785.7\n-715,689.4\n-822,417.2\n-771,548.0\n-683,664.6\n Assets\n896,179.7\n830,959.4\n737,833.5\n816,079.6\n755,493.4\n811,200.4\n926,353.7\n843,689.2\n867,447.1\n889,018.6\n784,372.6\n667,350.7\n796,212.4\n Reserve Bank (RBZ)\n363,181.1\n356,661.9\n280,889.9\n282,170.1\n282,900.6\n303,218.6\n453,986.1\n395,771.0\n360,705.6\n360,255.9\n335,321.7\n300,180.5\n436,988.0\n Deposit Money Banks (DMBs) \n463,112.7\n405,880.7\n400,473.5\n469,563.3\n424,368.1\n418,721.9\n390,608.3\n361,517.6\n428,702.8\n448,219.8\n387,305.0\n310,522.6\n300,320.1\n Other Banking Institutions (OBIs) \\1\n69,886.0\n68,416.9\n56,470.0\n64,346.2\n48,224.7\n89,260.0\n81,759.3\n86,400.6\n78,038.7\n80,542.9\n61,745.9\n56,647.6\n58,904.3\n Liabilities \\2\n-1,615,581.1\n-1,545,150.0\n-1,501,140.0\n-1,382,038.9\n-1,391,521.5\n-1,492,266.9\n-1,701,866.3\n-1,567,462.0\n-1,595,232.7\n-1,604,707.9\n-1,606,789.8\n-1,438,898.6\n-1,479,877.0\n RBZ\n1,020,936.5\n1,007,096.0\n1,009,161.8\n858,095.4\n894,207.5\n868,931.4\n1,093,306.3\n1,039,959.7\n1,056,817.9\n1,057,080.8\n1,069,972.4\n1,048,664.8\n1,116,315.6\n DMBs\n540,423.0\n483,463.5\n438,356.5\n473,182.2\n448,998.0\n574,792.7\n560,305.8\n478,956.0\n490,791.1\n504,085.0\n494,458.0\n347,787.2\n320,578.9\n OBIs\n54,221.6\n54,590.6\n53,621.8\n50,761.3\n48,315.9\n48,542.8\n48,254.1\n48,546.3\n47,623.8\n43,542.1\n42,359.5\n42,446.6\n42,982.5\nNET DOMESTIC ASSETS \n5,122,820.1\n5,054,316.0\n5,101,193.5\n4,936,279.4\n5,074,872.7\n5,169,034.0\n5,319,522.4\n5,197,733.1\n5,200,833.8\n5,301,713.1\n5,423,243.6\n5,516,731.6\n5,449,086.9\nDOMESTIC CREDIT\n4,378,653.6\n4,231,495.4\n4,249,052.3\n4,371,027.6\n4,529,777.2\n4,817,875.2\n4,869,072.4\n4,981,511.5\n5,029,107.1\n5,079,842.4\n5,196,662.7\n5,345,272.0\n5,560,695.5\n Claims on Government (net) \n515,636.4\n544,026.1\n549,179.2\n537,675.3\n665,258.8\n950,594.0\n1,074,237.6\n1,160,044.8\n1,192,006.7\n1,182,354.0\n1,253,218.7\n1,359,827.4\n1,590,109.9\n RBZ\n-25,063.7\n-12,594.0\n-12,908.0\n-22,274.1\n98,377.6\n97,847.8\n91,807.5\n243,082.9\n244,517.6\n254,297.8\n271,997.2\n314,096.4\n357,307.3\n DMBs\n487,962.9\n504,696.7\n510,080.3\n500,344.5\n498,836.6\n784,428.5\n904,112.3\n845,865.3\n860,228.9\n838,982.9\n890,154.0\n954,556.6\n1,119,720.1\n OBIs\n52,737.2\n51,923.4\n52,007.0\n59,604.9\n68,044.6\n68,317.8\n78,317.8\n71,096.6\n87,260.2\n89,073.3\n91,067.5\n91,174.4\n113,082.5\n Claims on Public Enterprises \n66,750.2\n64,967.7\n68,944.3\n71,543.2\n102,474.3\n104,306.3\n53,148.2\n48,641.8\n56,508.0\n54,523.7\n84,877.1\n83,806.0\n134,914.6\n RBZ\n0.0\n0.0\n0.0\n0.0\n737.3\n1,087.1\n1,189.1\n1,931.5\n2,098.7\n2,423.7\n30,362.6\n30,375.1\n73,573.9\n DMBs\n66,750.2\n64,967.7\n68,944.3\n69,816.8\n100,742.9\n102,436.0\n51,254.0\n46,510.3\n53,130.2\n50,787.7\n53,348.0\n52,504.5\n60,202.8\n Agri-PEs\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n Other\n66,750.2\n64,967.7\n68,944.3\n69,816.8\n100,742.9\n102,436.0\n51,254.0\n46,510.3\n53,130.2\n50,787.7\n53,348.0\n52,504.5\n60,202.8\n OBIs\n0.0\n0.0\n0.0\n1,726.4\n994.2\n783.2\n705.1\n200.0\n1,279.1\n1,312.2\n1,166.5\n926.4\n1,137.9\n Claims on Private Sector\n3,796,267.1\n3,622,501.6\n3,630,928.8\n3,761,809.1\n3,762,044.1\n3,762,974.9\n3,741,686.6\n3,772,824.9\n3,780,592.5\n3,842,964.7\n3,858,567.0\n3,901,638.6\n3,835,671.0\n RBZ\n34,725.3\n34,725.3\n34,725.3\n31,409.0\n31,558.0\n31,155.6\n51,689.8\n66,722.4\n92,768.9\n67,359.3\n75,959.6\n77,442.5\n96,088.9\n DMBs\n3,010,101.6\n2,835,002.6\n2,824,415.9\n2,960,892.4\n2,948,993.7\n2,960,917.8\n2,900,630.1\n2,910,157.5\n2,875,477.3\n2,956,930.6\n2,950,844.9\n2,981,759.1\n2,874,287.6\n OBIs\n751,440.3\n752,773.8\n771,787.7\n769,507.7\n781,492.4\n770,901.6\n789,366.8\n795,945.0\n812,346.3\n818,674.8\n831,762.5\n842,437.0\n865,294.5\nOTHER ITEMS (NET) \n744,166.4\n822,820.5\n852,141.2\n565,251.8\n545,095.4\n351,158.7\n450,450.0\n216,221.6\n171,726.7\n221,870.7\n226,580.9\n171,459.6\n-111,608.6\nBROAD MONEY (M3) \n4,403,418.7\n4,340,125.3\n4,337,887.0\n4,370,320.1\n4,438,844.6\n4,487,967.5\n4,544,009.7\n4,473,960.3\n4,473,048.2\n4,586,023.7\n4,600,826.4\n4,745,183.7\n4,765,422.3\nTABLE 1.2 : BROAD MONEY SURVEY\nUS$ Thousands\n2015\n2014\n \n \nMONTHLY ECONOMIC REVIEW \n10 \n \n \n \n \n \n \n \nDECEMBER\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nNET FOREIGN ASSETS \n48,423.1\n5,210.8\n-49,115.9\n197,347.2\n-70,068.7\n-45,038.4\n-94,446.1\n51,739.9\n-4,012.9\n12,096.3\n-106,727.8\n50,869.2\n87,883.4\n Assets\n68,665.5\n-65,220.3\n-93,125.9\n78,246.1\n-60,586.2\n55,707.0\n115,153.3\n-82,664.5\n23,757.8\n21,571.5\n-104,646.0\n-117,021.9\n128,861.7\n Reserve Bank (RBZ)\n28,646.8\n-6,519.2\n-75,771.9\n1,280.1\n730.6\n20,317.9\n150,767.5\n-58,215.1\n-35,065.4\n-449.7\n-24,934.2\n-35,141.2\n136,807.5\n Deposit Money Banks (DMBs)\n46,122.9\n-57,232.0\n-5,407.1\n69,089.7\n-45,195.2\n-5,646.2\n-28,113.6\n-29,090.7\n67,185.1\n19,517.0\n-60,914.8\n-76,782.4\n-10,202.5\n Other Banking Institutions (OBIs) \\1\n-6,104.2\n-1,469.1\n-11,946.9\n7,876.2\n-16,121.6\n41,035.3\n-7,500.7\n4,641.3\n-8,361.9\n2,504.2\n-18,797.0\n-5,098.3\n2,256.7\n Liabilities \\2\n-20,242.5\n70,431.1\n44,010.0\n119,101.1\n-9,482.6\n-100,745.5\n-209,599.4\n134,404.3\n-27,770.7\n-9,475.2\n-2,081.9\n167,891.2\n-40,978.3\n RBZ\n-9,117.3\n-13,840.5\n2,065.8\n-151,066.4\n36,112.1\n-25,276.1\n224,375.0\n-53,346.7\n16,858.2\n262.9\n12,891.6\n-21,307.6\n67,650.8\n DMBs\n29,711.9\n-56,959.6\n-45,107.0\n34,825.7\n-24,184.2\n125,794.7\n-14,486.9\n-81,349.8\n11,835.0\n13,293.9\n-9,627.0\n-146,670.7\n-27,208.4\n OBIs\n-352.1\n369.0\n-968.8\n-2,860.4\n-2,445.4\n226.9\n-288.7\n292.2\n-922.5\n-4,081.6\n-1,182.7\n87.1\n535.9\nNET DOMESTIC ASSETS \\3\n-60,469.9\n-68,504.1\n46,877.5\n-164,914.1\n138,593.3\n94,161.3\n150,488.4\n-121,789.3\n3,100.7\n100,879.2\n121,530.5\n93,488.0\n-67,644.7\nDOMESTIC CREDIT\n25,721.4\n-147,158.2\n17,556.9\n121,975.3\n158,749.6\n288,098.0\n51,197.2\n112,439.1\n47,595.6\n50,735.3\n116,820.4\n148,609.3\n215,423.5\n Claims on Government (net) \n53,210.7\n28,389.7\n5,153.1\n-11,503.9\n127,583.5\n285,335.2\n123,643.6\n85,807.2\n31,961.9\n-9,652.6\n70,864.7\n106,608.7\n230,282.5\n RBZ\n-11,032.2\n12,469.7\n-314.0\n-9,366.0\n120,651.7\n-529.8\n-6,040.3\n151,275.4\n1,434.7\n9,780.2\n17,699.4\n42,099.2\n43,210.9\n DMBs\n44,484.8\n16,733.8\n5,383.6\n-9,735.8\n-1,507.9\n285,591.8\n119,683.9\n-58,247.0\n14,363.6\n-21,245.9\n51,171.1\n64,402.6\n165,163.5\n OBIs\n19,758.1\n-813.8\n83.5\n7,597.9\n8,439.7\n273.1\n10,000.0\n-7,221.2\n16,163.6\n1,813.1\n1,994.2\n106.9\n21,908.1\n Claims on Public Enterprises \n89.2\n-1,782.4\n3,976.6\n2,598.9\n30,931.2\n1,832.0\n-51,158.1\n-4,506.4\n7,866.2\n-1,984.3\n30,353.4\n-1,071.0\n51,108.6\n RBZ\n0.0\n0.0\n0.0\n0.0\n737.3\n349.8\n102.0\n742.4\n167.2\n325.0\n27,938.9\n12.5\n43,198.8\n DMBs\n89.2\n-1,782.4\n3,976.6\n872.5\n30,926.1\n1,693.1\n-51,182.0\n-4,743.6\n6,619.9\n-2,342.5\n2,560.3\n-843.4\n7,698.3\n Agri-PEs\n-1,516.5\n-1,517.5\n-1,518.5\n-1,519.5\n-1,520.5\n-1,521.5\n-1,522.5\n-1,523.5\n-1,524.5\n-1,525.5\n-1,526.5\n-1,527.5\n-1,528.5\n Other\n1,605.7\n-264.9\n5,495.1\n2,392.0\n32,446.6\n3,214.7\n-49,659.5\n-3,220.1\n8,144.4\n-816.9\n4,086.8\n684.1\n9,226.8\n OBIs\n0.0\n0.0\n0.0\n1,726.4\n-732.2\n-211.0\n-78.1\n-505.2\n1,079.1\n33.1\n-145.7\n-240.1\n211.5\n Claims on Private Sector\n-27,578.5\n-173,765.5\n8,427.2\n130,880.3\n234.9\n930.9\n-21,288.3\n31,138.3\n7,767.5\n62,372.2\n15,602.3\n43,071.6\n-65,967.5\n RBZ\n0.0\n0.0\n0.0\n-3,316.3\n149.0\n-402.4\n20,534.2\n15,032.7\n26,046.5\n-25,409.6\n8,600.4\n1,482.9\n18,646.4\n DMBs\n-26,693.6\n-175,099.0\n-10,586.7\n136,476.5\n-11,898.7\n11,924.1\n-60,287.7\n9,527.4\n-34,680.2\n81,453.3\n-6,085.7\n30,914.2\n-107,471.5\n OBIs\n-884.9\n1,333.5\n19,013.9\n-2,280.0\n11,984.7\n-10,590.8\n18,465.2\n6,578.2\n16,401.3\n6,328.5\n13,087.7\n10,674.5\n22,857.6\nOTHER ITEMS (NET) \n-86,191.4\n78,654.1\n29,320.6\n-286,889.4\n-20,156.4\n-193,936.7\n99,291.2\n-234,228.4\n-44,494.9\n50,144.0\n4,710.2\n-55,121.3\n-283,068.2\nBROAD MONEY (M3) \n-12,046.9\n-63,293.4\n-2,238.4\n32,433.1\n68,524.5\n49,122.9\n56,042.3\n-70,049.4\n-912.2\n112,975.5\n14,802.7\n144,357.2\n20,238.7\n Broad Money (M3) \n-0.3%\n-1.4%\n-0.1%\n0.7%\n1.57%\n1.11%\n1.2%\n-1.54%\n-0.02%\n2.53%\n0.32%\n3.14%\n0.43%\n Domestic Credit \n0.6%\n-3.4%\n0.4%\n2.9%\n3.63%\n6.36%\n1.1%\n2.31%\n0.96%\n1.01%\n2.30%\n2.86%\n4.03%\n Claims on Private Sector\n-0.7%\n-4.6%\n0.2%\n3.6%\n0.01%\n0.02%\n-0.6%\n0.83%\n0.21%\n1.65%\n0.41%\n1.12%\n-1.69%\nTABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3)\n US$ Thousands\n2014\n2015\n \n \nMONTHLY ECONOMIC REVIEW \n11 \n \n \n \n \nOCTOBER\nNOVEMBER\nDECEMBER\nJANUARY\nFEBRUARY\nMARCH\nAPRIL\nMAY\nJUNE\nJULY\nAUGUST\nSEPTEMBER\nOCTOBER\nNOVEMBER\nDECEMBER\nNET FOREIGN ASSETS \n251,490.3\n233,974.4\n90,771.0\n132,431.5\n36,127.1\n250,879.1\n59,815.5\n-95,449.8\n-180,094.9\n-22,698.6\n-100,052.1\n-179,455.4\n-223,571.1\n-3,723.5\n35,736.8\n Assets\n4,716.6\n-29,140.7\n-145,986.2\n-178,961.3\n-294,685.4\n-205,308.8\n-308,111.1\n-379,009.3\n-200,283.4\n-183,460.8\n-212,180.1\n-216,884.3\n-214,670.1\n-160,163.5\n-99,967.3\n Reserve Bank (RBZ)\n185,705.6\n69,707.4\n24,693.2\n1,841.7\n-84,185.9\n-74,987.2\n-76,958.8\n-107,685.7\n79,429.5\n68,475.7\n-50,976.1\n-260,229.1\n-172,834.3\n-34,353.8\n73,806.9\n Deposit Money Banks (DMBs)\n-168,281.7\n-114,069.3\n-180,447.4\n-204,438.1\n-219,094.2\n-115,561.0\n-204,196.9\n-282,081.0\n-294,731.2\n-262,175.5\n-175,757.2\n33,238.4\n-45,036.0\n-106,467.2\n-162,792.6\n Other Banking Institutions (OBIs) \\1\n-12,707.3\n15,221.1\n9,767.9\n23,635.1\n8,594.7\n-14,760.6\n-26,955.3\n10,757.3\n15,018.3\n10,239.0\n14,553.2\n10,106.4\n3,200.1\n-19,342.5\n-10,981.7\n Liabilities \\2\n246,773.7\n263,115.2\n236,757.2\n311,392.8\n330,812.5\n456,187.9\n367,926.6\n283,559.6\n20,188.5\n160,762.2\n112,128.0\n37,428.9\n-8,901.0\n156,440.0\n135,704.1\n RBZ\n-114,916.2\n-117,925.2\n-129,214.3\n-141,597.9\n-142,138.7\n-294,509.5\n-261,255.8\n-283,804.9\n-48,600.0\n-96,131.8\n-60,845.6\n19,340.3\n34,361.2\n18,611.0\n95,379.1\n DMBs\n-165,096.0\n-178,769.8\n-131,012.2\n-198,281.1\n-217,181.2\n-187,715.9\n-130,095.6\n-23,610.5\n14,958.5\n-83,111.7\n-63,177.9\n-46,073.7\n-13,602.2\n-162,923.9\n-219,844.2\n OBIs\n33,238.5\n33,579.8\n23,469.3\n28,486.1\n28,507.4\n26,037.5\n23,424.8\n23,855.8\n13,453.0\n18,481.3\n11,895.4\n-10,695.4\n-11,858.0\n-12,127.1\n-11,239.0\nNET DOMESTIC ASSETS \\3\n254,086.5\n374,380.8\n380,322.6\n319,048.5\n279,980.3\n25,501.8\n148,570.5\n257,686.8\n400,538.7\n272,589.1\n251,024.5\n376,976.5\n367,137.9\n333,441.6\n326,266.8\nDOMESTIC CREDIT\n252,119.7\n261,621.9\n309,956.1\n245,588.9\n134,866.3\n190,918.6\n379,639.8\n679,564.0\n695,004.5\n776,284.9\n794,638.6\n812,660.2\n865,327.7\n992,339.8\n1,182,041.9\n Claims on Government (net) \n170,818.5\n130,627.9\n157,639.0\n185,227.8\n122,671.7\n47,442.1\n188,341.5\n482,132.6\n575,620.5\n736,056.5\n754,533.2\n739,918.1\n782,714.1\n897,401.8\n1,074,473.5\n RBZ\n-12,964.3\n-12,843.3\n-23,881.4\n-11,412.3\n-11,726.2\n-21,094.5\n99,556.4\n99,026.6\n92,986.5\n289,241.2\n270,492.4\n290,213.2\n286,430.3\n328,127.9\n382,371.0\n DMBs\n152,163.6\n150,725.7\n168,946.7\n184,880.3\n122,554.5\n49,095.3\n60,904.0\n354,951.8\n444,479.8\n415,882.2\n448,362.7\n412,213.7\n457,069.2\n511,078.6\n631,757.3\n OBIs\n31,619.3\n-7,254.5\n12,573.7\n11,759.9\n11,843.4\n19,441.3\n27,881.1\n28,154.2\n38,154.2\n30,933.0\n35,678.2\n37,491.3\n39,214.6\n58,195.3\n60,345.2\n Claims on Public Enterprises \n12,950.8\n5,816.2\n6,105.2\n4,414.7\n8,255.0\n-7,984.8\n24,181.6\n25,922.7\n-20,025.0\n-28,752.0\n-13,816.8\n-17,867.0\n12,502.1\n17,145.1\n68,164.4\n RBZ\n0.0\n0.0\n0.0\n0.0\n0.0\n0.0\n737.3\n1,087.1\n1,189.1\n1,931.5\n2,098.7\n2,423.7\n30,362.6\n30,375.1\n73,573.9\n DMBs\n12,950.8\n5,816.2\n6,105.2\n4,414.7\n8,255.0\n-9,711.2\n22,450.1\n24,052.3\n-21,919.3\n-30,883.4\n-17,194.6\n-21,602.9\n-19,027.0\n-14,156.5\n-6,547.4\n Agri-PEs\n-5,003.2\n-5,004.2\n-5,005.2\n-7,246.8\n-7,246.8\n-6,896.5\n-6,898.8\n-6,908.9\n-1,516.3\n-1,511.0\n-1,514.5\n-1,515.5\n-1,515.5\n-1,516.5\n-1,517.5\n Other\n17,954.0\n10,820.4\n11,110.4\n11,661.5\n15,501.8\n-2,814.7\n29,348.9\n30,961.2\n-20,403.0\n-29,372.5\n-15,680.0\n-20,087.4\n-17,511.5\n-12,639.9\n-5,029.8\n OBIs\n0.0\n0.0\n0.0\n0.0\n0.0\n1,726.4\n994.2\n783.2\n705.1\n200.0\n1,279.1\n1,312.2\n1,166.5\n926.4\n1,137.9\n Claims on Private Sector\n68,350.4\n125,177.8\n146,211.9\n55,946.4\n3,939.6\n151,461.2\n167,116.7\n171,508.7\n139,409.0\n68,980.4\n53,922.1\n90,609.0\n70,111.5\n77,793.0\n39,403.9\n RBZ\n-394.8\n-390.8\n-390.8\n-390.8\n-390.8\n-3,336.1\n-3,187.1\n-3,589.5\n16,964.5\n31,997.2\n58,043.6\n32,634.0\n41,234.4\n42,717.2\n61,363.6\n DMBs\n-124,890.6\n-69,400.6\n-43,543.7\n-120,031.2\n-192,169.1\n-33,095.8\n-19,566.9\n4,881.3\n-55,223.4\n-103,031.0\n-141,232.5\n-64,459.1\n-65,906.0\n-55,036.1\n-135,814.0\n OBIs\n193,635.8\n194,969.2\n190,146.4\n176,368.4\n196,499.5\n187,893.1\n189,870.6\n170,216.9\n177,667.9\n140,014.2\n137,110.9\n122,434.1\n94,783.1\n90,111.8\n113,854.3\nOTHER ITEMS (NET) \n1,966.8\n112,758.9\n70,366.5\n73,459.6\n145,114.0\n-165,416.8\n-231,069.3\n-421,877.2\n-294,465.8\n-503,695.8\n-543,614.1\n-435,683.7\n-498,189.8\n-658,898.2\n-855,775.0\nBROAD MONEY (M3) \n505,576.8\n608,355.2\n471,093.6\n451,480.0\n316,107.4\n276,380.8\n208,386.1\n162,237.0\n220,443.8\n249,890.4\n150,972.4\n197,521.1\n143,566.8\n329,718.1\n362,003.6\nGROWTH RATES\n Broad Money (M3) \n12.8%\n16.0%\n12.0%\n11.6%\n7.9%\n6.8%\n4.9%\n3.8%\n5.1%\n5.9%\n3.5%\n4.5%\n3.2%\n7.5%\n8.2%\n Domestic Credit \n6.2%\n6.4%\n7.6%\n6.2%\n3.3%\n4.6%\n9.1%\n16.4%\n16.7%\n18.5%\n18.8%\n19.0%\n20.0%\n22.8%\n27.0%\n Claims on Private Sector\n1.8%\n3.4%\n4.0%\n1.6%\n0.1%\n4.2%\n4.6%\n4.8%\n3.9%\n1.9%\n1.4%\n2.4%\n1.9%\n2.0%\n1.0%\nTABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3)\n2014\n$ Thousands\n2015\n \n \nMONTHLY ECONOMIC REVIEW \n12 \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE\nCONSTRUCTION\nCOMMUNICATION\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATE\nTOTAL\nEND OF\n \n \n \nINVESTMENTS\nORGANISATIONS\n \n \n \n \n2014 \nJan\n489,585.3\n43,743.8\n18,574.7\n464,097.6\n5,467.4\n48,086.1\n362,554.0\n116,635.5\n412,901.1\n37,722.2\n367,126.2\n16,773.1\n2,383,267.1\nFeb \n519,154.6\n38,918.1\n24,765.4\n460,528.2\n10,397.3\n47,488.6\n385,038.1\n116,670.5\n401,619.6\n32,978.1\n396,800.8\n8,542.7\n2,442,902.1\nMar\n503,868.1\n42,707.9\n35,785.1\n494,663.8\n5,257.4\n52,722.0\n374,809.1\n116,653.0\n396,000.6\n38,089.3\n406,503.1\n15,833.1\n2,482,892.7\nApr\n540,156.2\n40,707.1\n18,138.9\n502,514.1\n9,898.6\n18,817.9\n407,595.0\n175,048.3\n447,549.2\n49,619.1\n511,048.2\n15,136.7\n2,736,229.2\nMay\n546,733.9\n41,594.2\n21,547.9\n488,389.7\n10,073.8\n23,049.1\n396,846.0\n184,730.9\n452.373.8\n51,891.8\n512,864.5\n17,718.8\n2,747,814.6\nJun\n536,188.9\n46,085.8\n28,201.0\n500,266.1\n10,656.3\n25,616.2\n417,002.7\n197,441.1\n432,692.4\n46,751.6\n499,191.5\n17,173.9\n2,757,267.4\nJul\n575,645.3\n43,055.0\n28,090.8\n480,483.6\n6,359.2\n27,284.9\n428,611.4\n206,052.3\n479,384.6\n49,260.4\n507,930.0\n46,148.1\n2,878,305.8\nAug\n548,866.7\n56,886.1\n38,891.3\n498,696.8\n54,387.2\n110,618.5\n422,942.5\n221,099.2\n430,156.3\n48,167.0\n474,060.2\n37,230.9\n2,942,002.7\nSep\n539,818.8\n51,349.1\n29,191.8\n493,610.7\n51,999.0\n109,975.0\n428,697.3\n201,791.6\n451,117.2\n45,100.0\n539,108.1\n36,708.6\n2,978,467.1\nOct\n530,544.7\n62,891.8\n55,922.5\n507,936.4\n50,701.1\n101,818.5\n436,519.1\n196,491.0\n413,443.5\n39,088.3\n520,437.0\n5,799.4\n2,921,593.2\nNov\n574,859.5\n58,780.5\n46,419.5\n460,989.3\n50,008.6\n120,510.4\n453,924.5\n208,418.3\n413,410.7\n45,289.6\n540,638.4\n5,976.9\n2,979,226.2\nDec\n565,840.1\n46,298.5\n42,604.8\n437,975.3\n47,805.8\n88,485.5\n478,895.5\n220,501.3\n481,497.5\n43,449.8\n543,038.5\n5,957.7\n3,002,529.6\n2015 \nJan\n541,656.5\n46,681.6\n39,906.8\n445,656.6\n21,454.5\n131,350.1\n466,896.6\n207,686.6\n452,817.5\n47,945.7\n557,066.9\n1,401.2\n2,960,820.4\nFeb\n538,722.0\n42,062.8\n47,395.1\n446,647.8\n21,790.0\n117,681.6\n461,237.6\n214,420.4\n463,884.6\n48,357.0\n544,838.5\n1,416.2\n2,948,453.6\nMar\n549,118.0\n42,010.1\n44,087.2\n448,278.7\n76,302.3\n110,180.3\n473,978.1\n203,327.9\n466,104.7\n48,938.0\n550,140.6\n1,339.6\n3,013,805.6\nApr\n556,457.4\n30,687.3\n44,546.9\n451,852.9\n65,696.1\n72,653.7\n457,797.1\n202,418.2\n518,353.6\n47,653.8\n551,662.8\n990.1\n3,000,770.0\nMay\n577,258.6\n31,400.7\n44,839.1\n456,652.1\n64,792.3\n75,682.2\n460,700.3\n192,377.2\n545,363.4\n50,061.9\n561,058.3\n1,034.4\n3,061,220.5\nJun\n576,485.1\n29,649.0\n56,936.5\n463,750.7\n20,117.9\n91,678.4\n407,949.0\n181,512.7\n512,108.4\n40,839.7\n590,917.1\n965.9\n2,972,910.2\nJul\n589,866.7\n27,447.9\n56,456.1\n474,568.7\n21,025.9\n92,335.6\n418,612.0\n186,238.8\n416,928.9\n41,201.6\n579,629.0\n941.4\n2,905,252.7\nAug\n580,775.3\n28,148.8\n58,618.6\n460,451.4\n22,509.2\n105,466.9\n411,831.6\n176,732.7\n440,470.4\n41,154.5\n571,926.0\n886.9\n2,898,972.1\nSep\n598,429.9\n28,307.9\n59,213.0\n443,604.1\n22,711.9\n102,015.0\n421,228.0\n174,144.2\n467,804.5\n43,051.0\n569,250.1\n929.5\n2,930,689.0\nOct\n609,537.2\n33,868.4\n53,813.7\n466,727.6\n21,566.0\n104,959.3\n447,136.6\n141,401.6\n484,254.8\n40,156.6\n573,330.4\n907.7\n2,977,660.0\nNov\n650,547.2\n28,696.7\n49,784.9\n440,864.2\n12,868.9\n104,288.1\n428,393.1\n152,136.9\n444,207.8\n40,760.5\n543,920.4\n696.2\n2,897,164.8\nDec\n590,610.6\n30,958.8\n44,706.5\n366,799.2\n13,354.6\n87,897.5\n450,208.5\n163,452.9\n475,424.5\n40,154.3\n518,998.3\n527.5\n2,783,093.0\nTABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1\n$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n13 \n \n \n \n \n \nEND OF\nAGRICULTURE\nCONSTRUCTION\nCOMMUNICATIONS\nDISTRIBUTION\nFINANCIAL &\nFINANCIAL\nMANUFACTURING\nMINING\nSERVICES\nTRANSPORT\nINDIVIDUALS\nCONGLOMERATES\nTOTAL\nINVESTMENTS\nORGANISATIONS\n2014\nJANUARY\n130,154.6\n53,292.9\n146,876.1\n353,793.8\n259,569.6\n731,703.3\n304,033.2\n93,776.7\n770,435.4\n40,085.9\n485,573.1\n60,897.7\n3,430,192.5\nFEBRUARY\n138,812.3\n55,092.2\n134,813.9\n420,181.0\n262,183.8\n786,295.6\n270,062.5\n131,134.8\n779,640.3\n39,169.2\n508,813.7\n61,822.3\n3,588,021.6\nMARCH\n118,239.1\n55,167.5\n135,807.9\n382,675.5\n216,025.3\n791,776.0\n275,549.1\n103,298.7\n806,185.9\n42,432.8\n521,381.5\n72,990.9\n3,521,530.3\nAPRIL\n164,347.5\n59,289.3\n102,323.7\n408,823.5\n325,559.7\n780,207.0\n325,659.8\n135,187.4\n888,876.2\n43,746.5\n582,848.8\n82,009.8\n3,898,879.1\nMAY\n149,474.1\n60,669.4\n108,977.6\n355,802.3\n332,850.8\n800,256.8\n303,599.4\n132,132.8\n1,027,552.7\n38,921.0\n581,930.2\n93,334.9\n3,985,501.8\nJUNE\n194,685.1\n64,188.9\n95,595.6\n470,267.7\n291,594.6\n812,999.7\n348,303.5\n130,453.4\n895,698.0\n44,735.5\n575,149.1\n91,392.4\n4,015,063.5\nJULY\n163,335.6\n56,812.0\n87,587.5\n370,121.7\n303,367.3\n830,988.6\n334,436.8\n112,985.0\n880,761.1\n44,675.4\n587,756.7\n94,841.5\n3,867,669.2\nAUGUST\n128,794.1\n38,934.1\n90,012.5\n271,204.3\n270,009.9\n755,141.6\n236,267.5\n130,548.6\n865,566.6\n31,180.4\n467,724.2\n89,582.4\n3,374,966.2\nSEPTEMBER\n177,932.5\n56,444.5\n82,756.7\n315,956.8\n309,508.3\n951,593.4\n278,461.5\n174,497.9\n978,044.0\n47,792.7\n571,629.9\n103,464.8\n4,048,083.1\nOCTOBER\n158,421.7\n57,091.4\n83,973.9\n407,934.0\n308,028.8\n917,450.3\n266,690.9\n178,771.0\n936,336.2\n44,950.2\n613,425.1\n91,764.1\n4,064,837.5\nNOVEMBER\n140,908.6\n61,494.3\n93,114.0\n350,153.8\n313,668.7\n881,007.4\n271,049.9\n137,867.8\n955,760.6\n48,177.7\n641,405.3\n90,462.2\n3,985,070.2\nDECEMBER\n147,242.4\n60,358.1\n118,725.7\n328,729.5\n325,746.6\n950,304.9\n290,329.3\n118,977.8\n964,815.0\n47,574.3\n638,061.1\n92,040.8\n4,082,906.3\n2015\nJANUARY\n155,304.2\n63,950.4\n136,066.9\n349,099.7\n294,145.5\n809,684.0\n314,319.6\n113,452.0\n1,034,514.7\n48,876.5\n606,370.3\n78,746.0\n4,004,529.8\nFEBRUARY\n151,740.1\n63,112.6\n109,807.6\n370,581.8\n314,944.7\n784,737.6\n309,307.9\n120,255.1\n1,028,160.1\n43,112.0\n606,650.6\n78,891.2\n3,981,301.2\nMARCH\n199,484.8\n63,709.2\n116,397.4\n378,460.0\n351,448.0\n762,380.7\n373,911.9\n99,744.6\n912,654.4\n42,478.9\n644,951.3\n72,605.2\n4,018,226.6\nAPRIL\n186,896.3\n65,974.0\n130,284.9\n380,884.8\n330,001.9\n799,952.4\n373,648.3\n109,735.0\n944,772.9\n44,964.9\n653,801.0\n75,850.9\n4,096,767.2\nMAY\n185,803.2\n73,167.5\n111,512.1\n523,774.7\n299,659.2\n801,335.5\n419,453.7\n113,355.0\n1,041,392.8\n50,057.9\n619,767.9\n71,388.8\n4,310,668.3\nJUNE\n187,657.0\n76,777.8\n109,336.0\n498,031.3\n304,087.2\n877,042.8\n338,069.8\n67,556.6\n1,131,497.1\n43,949.0\n651,072.8\n72,166.9\n4,357,244.2\nJULY\n180,261.3\n80,536.4\n106,645.3\n452,744.1\n295,611.1\n911,363.8\n360,746.5\n88,518.4\n971,759.9\n53,101.6\n647,215.1\n70,618.8\n4,219,122.4\nAUGUST\n168,075.2\n86,038.9\n108,477.7\n472,875.1\n335,158.3\n784,616.6\n401,830.1\n76,647.0\n1,042,260.4\n55,455.9\n657,177.1\n51,922.5\n4,240,535.0\nSEPTEMBER\n197,641.5\n85,842.6\n112,415.3\n462,925.6\n349,564.2\n831,813.0\n379,121.4\n71,090.0\n1,033,106.7\n53,348.1\n676,308.0\n55,759.2\n4,308,935.5\nOCTOBER\n219,922.3\n85,382.0\n116,874.4\n447,200.7\n331,543.6\n821,640.8\n378,568.5\n68,298.7\n1,100,719.7\n55,846.7\n648,757.5\n67,353.2\n4,342,108.3\nNOVEMBER\n212,806.1\n85,815.7\n98,468.4\n465,089.7\n334,835.6\n846,959.0\n363,754.4\n71,866.2\n1,074,141.8\n56,110.3\n665,421.1\n64,630.3\n4,339,898.7\nDECEMBER\n196,092.9\n88,273.0\n102,636.9\n518,411.4\n336,909.2\n864,491.7\n307,845.0\n63,337.5\n1,163,771.1\n57,410.5\n639,985.6\n66,435.7\n4,405,600.5\n TABLE 2.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \nUS$ Thousands\n \n \nMONTHLY ECONOMIC REVIEW \n14 \n \n \n \n \n \n \n \n \n \n \nEnd Pe rio d\n19 9 9\n2 0 0 0\n2 0 0 1\n2 0 0 2\n2 0 0 3\n2 0 0 4\n2 0 0 5\n2 0 0 6\n2 0 0 7\n2 0 0 8\n2 0 0 9\n2 0 10\n2 0 11\n2 0 12\n2 0 13\n2 0 14\n( U S $ millio ns )\nLo ng - Te rm Ext e rnal D e b t\n3 ,53 0\n3 ,2 2 7\n3 ,2 55\n3 ,3 2 7\n3 ,6 4 4\n3 ,9 2 7\n3 ,8 0 5\n3 ,9 6 5\n4 ,0 3 2\n4 ,4 6 4\n4 ,9 51\n5,175\n6 ,0 9 6\n6 ,6 0 7\n7,3 70\n8 ,4 4 4\nGo ve rnme nt\n2 ,4 6 1\n2 ,2 4 9\n2 ,3 2 8\n2 ,3 76\n2 ,6 17\n2 ,8 4 4\n2 ,8 9 5\n3 ,0 2 4\n3 ,0 54\n3 ,4 6 4\n4 ,0 3 7\n4 ,0 9 5\n4 ,6 3 8\n4 ,9 2 9\n5,0 12\n4 ,52 2\nBilateral Creditors\n935\n1,050\n1,115\n1,107\n1,255\n1,455\n1,438\n1,520\n1,520\n1,863\n2,308\n2,325\n2,597\n2,694\n2,928\n2,445\nMultilateral Creditors\n1,235\n1,199\n1,213\n1,269\n1,362\n1,389\n1,457\n1,504\n1,524\n1,592\n1,729\n1,770\n2,041\n2,235\n2,084\n2,078\nPrivate Creditors\n291\n0\n0\n0\n0\n0\n0\n0\n10\n10\n0\n0\n0\n0\n0\n0\nPub lic Ent e rp ris e s\n54 3\n53 4\n56 8\n6 16\n6 9 8\n714\n70 9\n76 6\n79 0\n8 2 5\n8 57\n9 3 8\n1,0 9 2\n1,19 8\n1,3 56\n1,6 6 1\nBilateral Creditors\n316\n301\n315\n351\n403\n442\n439\n464\n474\n497\n453\n238\n711\n703\n858\n1,155\nMultilateral Creditors\n224\n233\n253\n265\n295\n272\n270\n302\n316\n327\n403\n700\n382\n495\n498\n506\nPrivate Creditors\n3\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\n0\nM o ne t ary A ut ho rit ie s\n3 6 4\n2 9 2\n2 9 2\n2 79\n2 8 8\n2 9 1\n14 4\n13 0\n13 7\n14 0\n14 0\n13 8\n12 7\n12 5\n12 5\n12 0\nMultilateral Creditors - IMF\n364\n292\n292\n279\n288\n291\n144\n130\n137\n140\n140\n138\n127\n125\n125\n120\nPrivat e\n16 2\n152\n6 7\n56\n4 1\n78\n57\n4 5\n51\n3 5\n57\n14 2\n3 6 6\n4 8 0\n1,0 0 2\n2 ,2 6 1\nS ho rt - Te rm Ext e rnal D e b t\n53 2\n2 9 8\n16 7\n18 3\n16 9\n14 4\n173\n2 8 1\n3 8 7\n2 2 6\n1,19 8\n1,3 8 2\n1,2 8 9\n8 9 0\n1,56 4\n2 ,3 9 4\nSupplier's Credits\n150\n42\n13\n26\n51\n69\n107\n122\n178\n41\n193\n286\n134\n30\n0\n0\nReserve Bank\n642\n642\n618\n614\n614\n587\nPrivate\n382\n256\n154\n157\n118\n75\n66\n159\n209\n185\n363\n454\n537\n246\n950\n1,807\nTo t al Ext e rnal D e b t\n4 ,0 6 2\n3 ,52 5\n3 ,4 2 2\n3 ,510\n3 ,8 12\n4 ,0 71\n3 ,9 78\n4 ,2 4 6\n4 ,4 19\n4 ,6 9 0\n6 ,14 9\n6 ,557\n7,3 8 5\n7,4 9 7\n8 ,9 3 4\n10 ,8 3 8\nGro s s D o me s t ic Pro d uc t\n5,990\n6,107\n10,887\n6,715\n5,037\n4,299\n2,918\n6,645\n4,000\n3,175\n8,157\n9,457\n10,956\n12,472\n13,490\n14,068\nExt e rnal D e b t / GD P\n6 8 %\n57.7%\n3 1.4 %\n52 .3 %\n75.7%\n9 4 .7%\n13 6 .3 %\n6 3 .9 %\n110 .5%\n14 7.7%\n75.4 %\n6 9 .3 %\n6 7.4 %\n6 0 .1%\n6 6 .2 %\n77.0 %\nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)\n \n \nMONTHLY ECONOMIC REVIEW \n15 \n \n \nEnd Period\nNominal Lending Rates2\nIndividuals \nCorporate\n2014 \nJan\n6.00-35.00\n14.09 \n9.30 \nFeb \n6.00-35.00\n14.08 \n9.32 \nMar\n6.00-35.00\n14.24 \n9.27 \nApr\n6.00-35.00\n14.22 \n9.12 \nMay\n6.00-35.00\n14.39 \n9.25 \nJun\n6.00-35.00\n14.44 \n9.33 \nJul\n6.00-35.00\n14.33 \n9.45 \nAug\n6.00-35.00\n14.28 \n9.45 \nSep\n6.00-35.00\n14.45 \n9.57 \nOct\n6.00-35.00\n14.36 \n9.90 \nNov\n6.00-35.00\n14.26 \n9.97 \nDec\n6.00-35.00\n14.19 \n9.68 \n2015 \nJan\n6.00-35.00\n14.16 \n9.66 \nFeb\n4.30-33.50\n14.00 \n9.73 \nMar\n4.30-33.50\n13.24 \n8.75 \nApr\n4.30-31.00\n12.71 \n8.84 \nMay\n5.00-31.00\n12.74 \n8.79 \nJun\n5.00-31.00\n11.94 \n8.42 \nJul\n5.00-31.00\n11.86 \n8.56 \nAug\n4.30-26.00\n11.96 \n8.51 \nSep\n4.30-25.00\n11.81 \n8.47 \nOct\n4.00-18.00\n10.98 \n7.28 \nNov\n4.00-16.25\n12.20 \n7.67 \nDec\n6.00-16.00\n11.99 \n7.57 \nNotes\n3. Lending rates exclude rates on staff loans. \nTABLE 4.1 LENDING RATES (percent per annum)1\n2. Nominal Lending Rates depict the range of rates quoted by banks.\nCommercial Banks\nWeighted Average Lending Rates 3 \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n \n \nMONTHLY ECONOMIC REVIEW \n16 \n \n \nEND OF\nSAVINGS\n3 MONTHS\n2014 \nJan\n0.15-8.00\n3.00-20.00\nFeb \n0.15-8.00\n3.00-20.00\nMar\n0.15-8.00\n3.00-20.00\nApr\n0.15-8.00\n3.00-20.00\nMay\n0.15-8.00\n3.00-20.00\nJun\n0.15-8.00\n3.00-20.00\nJul\n0.15-8.00\n3.00-20.00\nAug\n0.15-8.00\n4.00-20.00\nSep\n0.15-8.00\n4.00-20.00\nOct\n0.15-8.00\n4.00-20.00\nNov\n0.15-8.00\n4.00-20.00\nDec\n0.15-8.00\n3.00-20.00\n2015 \nJan\n0.15-8.00\n3.00-17.00\nFeb\n0.50-12.00\n1.00-17.00\nMar\n0.50-12.00\n1.00-17.00\nApr\n0.30-8.00\n1.00-17.00\nMay\n0.30-8.00\n1.00-17.00\nJun\n0.30-8.00\n1.00-17.00\nJul\n0.30-8.00\n1.00-15.00\nAug\n0.30-8.00\n1.00-15.00\nSep\n0.30-8.00\n1.00-16.00\nOct\n0.50-8.00\n1.00-17.00\nNov\n0.75-8.00\n1.00-17.00\nDec\n0.50-8.00\n0.75-17.00\n* The range of rates qouted by banks during the period.\nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)*\nCOMMERCIAL BANKS\n \n \nMONTHLY ECONOMIC REVIEW \n17 \n \n \n \nFOOD IN FLA TION\nA LL\nA LC OHOLIC \nB EV ER A GES \nC LOTHIN G\nHS IN G, WA TER ,\nFU R N ITU R E\nHEA LTH\nTR A N S POR T\nC OM M U N IC A TION\nR EC R EA TION &\nED U C A TION\nR ES TA U R A N TS &\nM IS C .\nTOTA L N ON\nFOOD & \nITEM S\n& TOB A C C O\nFOOTWEA R\nELEC TR IC TY , \nGA S\nA N D\nC U LTU R E\nHOTELS\nGOOD S &\nFOOD\nN ON A LC OHOLIC \nB EV ER A GES\n& OTHER\nEQU IPM EN T\nS ER V IC ES\nFU ELS\nWEIGHTS\n4 .3 8\n6 .0 5\n17.74\n9 .9 1\n2 .16\n9 .76\n3 .4 1\n2 .1\n5.6 7\n1.3 8\n3 .9 1\n6 6 .4 7\n3 3 .53\n10 0\n2014\nJA N U A R Y\n0 .2 0\n- 0 .0 7\n0 .0 0\n0 .0 1\n- 0 .2 3\n0 .0 1\n0 .0 0\n- 0 .0 7\n0 .0 2\n0 .16\n- 0 .0 9\n0 .0 0\n0 .4 4\n0 .14\nFEB R U A R Y\n- 0 .0 1\n- 0 .0 9\n- 0 .11\n- 0 .0 8\n0 .0 9\n0 .0 8\n0 .0 0\n- 0 .0 4\n0 .2 3\n- 0 .0 8\n0 .0 7\n- 0 .0 1\n0 .18\n0 .0 5\nM A R C H\n- 0 .0 5\n- 0 .0 6\n- 0 .8 2\n- 0 .12\n0 .0 2\n0 .0 0\n0 .0 1\n0 .0 0\n0 .0 0\n0 .0 1\n- 0 .3 0\n- 0 .2 6\n- 0 .14\n- 0 .2 2\nA PR IL\n0 .3 0\n- 0 .10\n- 0 .13\n- 0 .75\n0 .16\n0 .3 3\n- 0 .0 2\n0 .3 4\n12 .6 4\n- 1.0 2\n- 0 .0 3\n1.0 9\n- 0 .4 6\n0 .58\nM A Y\n0 .11\n- 0 .11\n- 0 .0 6\n- 0 .2 9\n0 .0 0\n0 .2 3\n- 0 .0 3\n- 0 .2 0\n0 .0 7\n- 0 .13\n- 0 .4 3\n- 0 .0 5\n- 0 .3 0\n- 0 .13\nJU N E\n- 0 .0 5\n0 .12\n0 .0 0\n0 .0 6\n0 .3 0\n- 0 .0 3\n0 .0 0\n- 0 .0 9\n0 .0 0\n- 0 .11\n0 .15\n0 .0 2\n- 0 .12\n- 0 .0 3\nJU LY\n- 0 .4 7\n- 0 .2 1\n0 .12\n0 .3 0\n- 0 .0 1\n0 .11\n- 0 .12\n- 0 .13\n- 0 .0 8\n1.79\n0 .8 5\n- 0 .3 7\n0 .2 5\n0 .0 1\nA U GU S T\n- 0 .8 1\n- 0 .0 5\n- 0 .0 9\n0 .0 0\n- 0 .14\n0 .0 4\n0 .2 8\n- 0 .0 6\n- 0 .0 8\n- 0 .0 2\n0 .0 2\n- 1.2 1\n- 0 .0 7\n- 0 .3 1\nS EPTEM B ER\n0 .10\n0 .14\n0 .4 5\n- 0 .2 7\n0 .2 1\n0 .3 8\n- 0 .0 6\n- 0 .14\n0 .0 0\n- 0 .4 0\n0 .11\n0 .15\n- 0 .3 4\n- 0 .0 1\nOC TOB ER\n0 .16\n0 .0 7\n0 .0 0\n- 0 .14\n- 0 .0 1\n- 0 .2 7\n- 0 .0 6\n- 0 .0 4\n0 .0 1\n0 .0 2\n0 .0 3\n- 0 .0 4\n- 0 .2 4\n- 0 .11\nN OV EM B ER\n0 .19\n0 .12\n- 0 .0 3\n- 0 .0 9\n0 .0 9\n0 .10\n0 .0 2\n0 .0 2\n- 9 .18\n- 0 .6 2\n0 .0 6\n- 0 .9 6\n- 0 .11\n- 0 .6 9\nD EC EM B ER\n0 .0 1\n- 0 .10\n0 .16\n- 0 .10\n0 .13\n0 .19\n0 .0 0\n- 0 .16\n0 .0 0\n- 0 .2 3\n- 0 .15\n0 .0 4\n- 0 .3 6\n- 0 .0 9\n2015\nJA N U A R Y\n- 0 .0 4\n- 0 .0 1\n0 .0 8\n0 .0 7\n0 .0 6\n- 0 .9 7\n- 13 .4 1\n0 .0 2\n- 0 .0 8\n- 0 .4 8\n0 .3 0\n- 0 .6 9\n0 .4 0\n- 0 .3 4\nFEB R U A R Y\n0 .2 5\n- 0 .3 5\n- 0 .0 9\n- 0 .11\n- 0 .0 2\n- 0 .4 1\n- 0 .10\n- 0 .17\n0 .0 0\n- 0 .2 8\n0 .10\n- 0 .13\n0 .0 5\n- 0 .0 7\nM A R C H\n0 .12\n- 0 .2 7\n- 0 .0 6\n- 0 .0 2\n- 0 .0 5\n0 .0 2\n0 .0 0\n0 .0 3\n0 .0 0\n0 .12\n0 .10\n- 0 .0 3\n- 0 .0 3\n- 0 .0 3\nA PR IL\n- 0 .6 3\n- 0 .0 1\n- 0 .71\n- 3 .3 5\n- 0 .4 6\n- 0 .0 5\n- 0 .15\n- 0 .13\n- 0 .0 7\n0 .59\n0 .4 1\n- 0 .0 4\n- 1.0 1\n- 0 .8 9\nM A Y\n- 0 .17\n- 0 .4 1\n0 .18\n- 0 .2 5\n0 .10\n- 0 .2 5\n- 0 .0 2\n- 0 .11\n0 .0 0\n- 0 .0 8\n- 0 .4 4\n- 0 .10\n- 0 .3 7\n- 0 .19\nJU N E\n0 .3 6\n- 0 .0 6\n- 0 .0 2\n- 0 .0 7\n- 0 .17\n0 .0 6\n0 .0 1\n- 0 .0 9\n0 .0 0\n- 0 .0 7\n0 .11\n0 .0 1\n- 0 .4 5\n- 0 .14\nJU LY\n- 0 .0 8\n0 .0 5\n- 0 .56\n- 0 .8 2\n0 .15\n- 0 .0 9\n- 0 .0 2\n- 0 .14\n7.4 8\n- 0 .0 2\n0 .0 3\n0 .4 7\n- 0 .8 1\n0 .0 6\nA U GU S T\n- 0 .2 7\n- 0 .0 1\n0 .0 2\n- 0 .14\n- 0 .0 4\n- 0 .2 9\n- 0 .0 6\n- 0 .2 6\n0 .0 0\n- 0 .14\n- 0 .0 9\n- 0 .10\n- 0 .75\n- 0 .3 6\nS EPTEM B ER\n- 0 .0 5\n0 .0 0\n- 0 .6 2\n- 0 .52\n0 .0 4\n- 0 .4 2\n- 0 .3 8\n- 0 .0 1\n0 .0 0\n1.2 8\n- 0 .3 0\n- 0 .3 1\n- 0 .4 7\n- 0 .3 6\nOC TOB ER\n- 0 .4 3\n- 0 .3 1\n- 0 .0 8\n- 0 .3 2\n0 .6 1\n- 0 .4 7\n0 .0 2\n- 0 .14\n0 .0 0\n- 0 .18\n0 .12\n- 0 .17\n- 0 .53\n- 0 .2 9\nN OV EM B ER\n- 0 .15\n- 0 .19\n- 0 .0 1\n- 0 .2 4\n0 .0 0\n- 0 .0 8\n- 0 .2 3\n- 0 .0 2\n2 .8 3\n- 0 .0 3\n- 0 .0 2\n0 .2 2\n0 .0 4\n0 .16\nD EC EM B ER\n- 0 .4 1\n- 0 .15\n0 .18\n- 0 .0 7\n- 0 .0 6\n- 0 .2 5\n- 0 .0 3\n0 .0 9\n0 .0 0\n- 0 .0 7\n- 0 .3 0\n- 0 .0 6\n- 0 .2 1\n- 0 .11\nN ON - FOOD IN FLA TION\nTABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX\n( DECEMBER 2012 = 100)\n \n \nMONTHLY ECONOMIC REVIEW \n18 \n \n \nFOOD \nIN FLA TION\nA LL\nA LC OHOLIC \nB EV ER A GES \nC LOTHIN G\nHS IN G, \nWA TER ,\nFU R N ITU R E\nHEA LTH\nTR A N S POR T\nC OM M U N IC A\nTION\nR EC R EA TION \n&\nED U C A TION\nR ES TA U R A N\nTS &\nM IS C .\nTOTA L N ON\nFOOD & \nITEM S\n& TOB A C C O\nFOOTWEA R\nELEC TR IC TY , \nGA S\nA N D\nC U LTU R E\nHOTELS\nGOOD S &\nFOOD\nN ON \nA LC OHOLIC \nB EV ER A GES\n& OTHER\nEQU IPM EN T\nS ER V IC ES\nFU ELS\nWEIGHTS\n4 .3 8\n6 .0 5\n17.74\n9 .9 1\n2 .16\n9 .76\n3 .4 1\n2 .1\n5.6 7\n1.3 8\n3 .9 1\n6 6 .4 7\n3 3 .53\n10 0\n2 0 14\nJA N U A R Y\n5.0 3\n0 .0 3\n3 .6 3\n- 1.0 7\n1.8 7\n1.6 2\n- 14\n- 1.12\n11.3\n2 .18\n- 0 .4 3\n1.6 7\n- 2 .0 8\n0 .4 1\nFEB R U A R Y\n2 .2 1\n- 0 .4 3\n3 .0 9\n- 1.3 5\n0 .4 4\n0 .0 5\n- 13 .8 6\n- 1.0 8\n11.4 7\n1.3 2\n- 1.4 5\n0 .9 3\n- 3 .2 6\n- 0 .4 9\nM A R C H\n1.6 7\n- 0 .53\n2 .2 1\n- 1.8 2\n0 .4\n- 0 .4 4\n- 13 .6 8\n- 1.2 1\n11.4 7\n2 .4 7\n- 1.8 2\n0 .51\n- 3 .71\n- 0 .9 1\nA PR IL\n1.78\n- 0 .55\n0 .4 6\n- 2 .6\n0 .2 2\n- 0 .11\n- 0 .6 2\n- 0 .9 3\n2 0 .71\n1.13\n- 1.56\n1.5\n- 3 .73\n- 0 .2 6\nM A Y\n1.9 1\n- 0 .8 3\n0 .3 9\n- 2 .6 2\n0 .2 9\n0 .8 6\n- 0 .6\n- 0 .6 4\n2 0 .79\n0 .9 5\n- 1.6 9\n1.6 2\n- 3 .75\n- 0 .19\nJU N E\n1.6 8\n- 0 .8 1\n0 .4\n- 2 .54\n0 .6 4\n0 .9 7\n- 0 .2 7\n- 0 .8 4\n2 0 .79\n0 .9 9\n- 1.6 7\n1.6 7\n- 3 .54\n- 0 .0 8\nJU LY\n- 2 .8 8\n1.6 4\n- 0 .6 8\n0 .7\n- 2 .4\n0 .8\n0 .5\n- 0 .4\n- 0 .8\n2 3\n1.8\n- 2\n1.9\n0 .3\nA U GU S T\n- 2 .79\n2 .0 2\n- 0 .4 4\n- 0 .1\n- 2 .5\n0 .6\n0 .7\n- 0 .3\n- 0 .8\n2 1.4\n0 .9\n- 2 .8\n1.6\n0 .2\nS EPTEM B ER\n2 .10\n- 0 .3 4\n- 0 .0 3\n- 2 .6 0\n0 .9 8\n0 .9 9\n- 0 .3 2\n- 0 .8 5\n2 1.4 2\n0 .2 8\n- 3 .0 6\n1.59\n- 2 .9 5\n0 .0 9\nOC TOB ER\n1.0 4\n- 0 .2 7\n- 0 .0 1\n- 2 .3 8\n0 .9 1\n1.0 4\n- 0 .3 1\n- 0 .75\n2 1.4 1\n0 .3 8\n- 2 .8 3\n1.59\n- 3 .2 3\n0 .0 0\nN OV EM B ER\n0 .8 4\n0 .0 4\n- 0 .0 3\n- 2 .11\n0 .9 1\n1.2 6\n- 0 .2 8\n- 0 .59\n4 .4 4\n- 1.3 1\n- 2 .50\n0 .17\n- 2 .75\n- 0 .78\nD EC EM B ER\n0 .71\n- 0 .0 5\n- 0 .2 4\n- 1.9 2\n0 .9 2\n1.18\n- 0 .3 3\n- 0 .53\n4 .4 5\n- 1.54\n- 2 .2 1\n0 .13\n- 2 .7\n- 0 .8\n2 0 15\nJA N U A R Y\n0 .4 7\n0 .0 0\n- 0 .16\n- 1.8 6\n1.2 1\n0 .19\n- 13 .6 9\n- 0 .4 4\n4 .3 5\n- 2 .16\n- 1.8 2\n- 0 .57\n- 2 .74\n- 1.2 8\nFEB R U A R Y\n0 .73\n- 0 .2 5\n- 0 .14\n- 1.8 8\n1.10\n- 0 .3 0\n- 13 .78\n- 0 .57\n4 .11\n- 2 .3 6\n- 1.8 0\n- 0 .6 8\n- 2 .8 7\n- 1.4 0\nM A R C H\n0 .9 0\n- 0 .4 6\n0 .6 2\n- 1.78\n1.0 3\n- 0 .2 8\n- 13 .78\n- 0 .54\n4 .11\n- 2 .2 6\n- 1.4 1\n- 0 .4 4\n- 2 .77\n- 1.2 0\nA PR IL\n- 2 .9 3\n0 .59\n- 1.0 7\n- 2 .6 2\n- 1.50\n0 .8 1\n- 0 .76\n- 13 .8 8\n- 0 .9 5\n- 7.0 2\n- 0 .8 4\n- 1.4 1\n- 2 .51\n- 2 .6 5\nM A Y\n0 .3 1\n- 1.3 7\n- 2 .3 9\n- 1.4 5\n0 .9 2\n- 1.2 3\n- 13 .8 7\n- 0 .8 6\n- 7.0 9\n- 0 .79\n- 1.4 2\n- 2 .56\n- 3 .0 0\n- 2 .70\nJU N E\n0 .72\n- 1.54\n- 2 .4 1\n- 1.58\n0 .4 5\n- 1.14\n0 .0 0\n- 0 .8 7\n- 7.0 9\n- 0 .75\n- 1.3 8\n- 2 .57\n- 3 .3 2\n- 2 .8 1\nJU LY\n0 .74\n- 1.6 1\n- 3 .2 4\n- 2 .3 7\n0 .50\n- 1.12\n- 13 .77\n- 0 .9 3\n- 1.9 0\n- 1.6 1\n- 0 .9 9\n- 2 .3 5\n- 3 .6 5\n- 2 .77\nA U GU S T\n0 .6 1\n- 1.53\n- 3 .2 2\n- 2 .3 7\n0 .4 2\n- 1.6 7\n- 13 .77\n- 1.11\n- 1.8 8\n- 1.78\n0 .13\n- 2 .3 8\n- 3 .59\n- 2 .77\nS EPTEM B ER\n0 .4 7\n- 1.6 7\n- 4 .2 5\n- 2 .6 2\n0 .2 5\n- 2 .4 5\n- 14 .0 5\n- 0 .9 9\n- 1.8 8\n- 0 .12\n- 0 .2 8\n- 2 .8 3\n- 3 .72\n- 3 .11\nOC TOB ER\n- 0 .12\n- 2 .0 4\n- 4 .3 3\n- 2 .8 0\n0 .8 6\n- 2 .6 4\n- 13 .9 8\n- 1.0 9\n- 1.8 9\n- 0 .3 2\n- 0 .2 0\n- 2 .9 5\n- 4 .0 0\n- 3 .2 9\nN OV EM B ER\n- 0 .4 5\n- 2 .3 5\n- 4 .3 2\n- 2 .9 4\n0 .77\n- 2 .8 1\n- 14 .19\n- 1.14\n11.0 8\n0 .2 8\n- 0 .2 7\n- 1.8 0\n- 3 .8 5\n- 2 .4 6\nD EC EM B ER\n- 0 .8 8\n- 2 .3 9\n- 4 .2 9\n- 2 .9 1\n0 .57\n- 3 .2 4\n- 14 .2 2\n- 0 .8 9\n11.0 8\n0 .4 3\n- 0 .4 2\n- 1.8 9\n- 3 .71\n- 2 .4 7\nN ON - FOOD IN FLA TION\nTABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1\n(DECEMBER 2012 = 100)\n \n \nMONTHLY ECONOMIC REVIEW \n19 \n \n \nSA\nBW\nJAPANESE\nEUROPEAN\nPOUND\nEND OF\nRAND/1\nPULA/1\nYEN/1\nCURRENCY/2\nSTERLING/2\n2014\nJANUARY\n11.21\n9.09\n102.47\n1.35\n1.65\nFEBRUARY\n10.71\n8.85\n101.74\n1.37\n1.67\nMARCH\n10.56\n8.85\n102.38\n1.38\n1.68\nAPRIL\n10.57\n8.85\n102.38\n1.38\n1.68\nMAY\n10.44\n8.73\n101.61\n1.36\n1.67\nJUNE\n10.58\n8.67\n101.3\n1.36\n1.7\nJULY\n10.68\n8.85\n102.76\n1.36\n1.69\nAUGUST\n10.98\n9.07\n107.35\n1.29\n1.63\nSEPTEMBER\n11.26\n9.26\n109.39\n1.27\n1.63\nOCTOBER\n10.90\n9.11\n110.87\n1.26\n1.59\nNOVEMBER\n11.02\n9.22\n118.21\n1.38\n1.57\nDECEMBER\n11.56\n9.51\n119.65\n1.22\n1.56\n2015\nJANUARY\n11.55\n9.61\n117.85\n1.13\n1.51\nFEBRUARY\n11.55\n9.61\n119.17\n1.12\n1.54\nMARCH\n12.16\n9.96\n120.19\n1.08\n1.48\nAPRIL\n11.82\n9.74\n118.60\n1.11\n1.54\nMAY\n12.13\n9.76\n123.87\n1.09\n1.53\nJUNE\n12.26\n9.92\n122.31\n1.12\n1.57\nJULY\n12.71\n10.67\n124.03\n1.09\n1.56\nAUGUST\n13.31\n10.20\n121.11\n1.12\n1.54\nSEPTEMBER\n13.90\n10.55\n119.94\n1.12\n1.54\nOCTOBER\n13.85\n10.47\n121.15\n1.10\n1.54\nNOVEMBER\n14.40\n10.70\n122.73\n1.06\n1.53\nDECEMBER\n15.56\n11.10\n120.42\n1.09\n1.49\n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES\n \n \nMONTHLY ECONOMIC REVIEW \n20 \n \n \n \n \n \n \nForeign\nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\n&\nBalances\nBalances \nBalances\nwith RBZ\nBond\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgric PEs\nCoins\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n2014\n Jan\n356.9\n395.3\n134.1\n253.1\n153.0\n119.2\n5.4\n1417.0\n27.9\n2866.4\n516.1\n362.2\n353.9\n5543.5\n Feb\n334.3\n387.0\n130.5\n285.0\n131.2\n193.2\n5.4\n1466.6\n32.8\n2718.1\n534.5\n502.9\n351.1\n5606.0\n Mar\n304.6\n354.1\n147.4\n280.3\n165.9\n255.2\n5.4\n1512.9\n28.7\n2737.9\n522.7\n538.8\n349.7\n5690.7\n Apr\n353.3\n367.8\n154.4\n274.9\n205.7\n247.0\n5.4\n1608.4\n32.5\n2844.6\n534.1\n345.3\n348.6\n5713.6\n May\n327.8\n421.1\n120.5\n372.8\n211.5\n241.7\n5.4\n1700.6\n27.5\n2836.8\n591.4\n366.2\n347.1\n5869.6\n Jun\n347.1\n404.7\n166.4\n338.1\n198.0\n261.9\n0.0\n1716.1\n16.2\n2863.2\n607.8\n362.9\n346.4\n5912.6\n Jul\n347.1\n321.3\n176.7\n276.3\n186.0\n246.2\n0.0\n1553.7\n15.4\n2940.4\n597.5\n347.4\n345.6\n5800.0\n Aug\n360.7\n424.5\n178.5\n243.5\n173.9\n237.5\n0.0\n1618.6\n15.5\n2949.1\n609.5\n353.9\n346.4\n5892.9\n Sep\n255.6\n636.8\n183.0\n158.8\n176.0\n253.9\n0.0\n1664.2\n4.1\n2949.4\n624.6\n371.5\n341.5\n5955.3\n Oct\n226.1\n597.7\n175.0\n205.5\n180.3\n260.1\n0.0\n1644.7\n15.6\n2938.4\n594.4\n369.0\n341.8\n5903.8\n Nov\n258.9\n556.7\n169.1\n157.5\n178.5\n281.6\n0.0\n1602.2\n4.2\n2951.6\n597.5\n369.4\n341.1\n5865.9\n Dec\n0.4\n309.5\n465.7\n167.6\n151.9\n184.3\n285.4\n0.0\n1564.7\n4.1\n2758.6\n606.2\n343.7\n356.0\n5633.3\n2015\n Jan\n0.6\n222.5\n527.9\n159.0\n182.6\n163.6\n325.7\n0.0\n1581.9\n21.4\n2796.8\n557.7\n360.2\n366.1\n5684.2\n Feb\n0.4\n216.7\n501.2\n149.6\n183.2\n128.6\n344.6\n0.0\n1524.2\n17.9\n2792.5\n564.8\n325.3\n356.8\n5581.5\n Mar\n0.6\n246.9\n461.4\n147.8\n222.2\n121.6\n338.0\n5.4\n1543.8\n15.5\n2925.5\n527.3\n352.5\n362.0\n5726.6\n Apr\n0.7\n205.5\n492.8\n158.6\n218.5\n112.0\n335.1\n5.4\n1528.6\n18.2\n2967.1\n527.1\n364.2\n385.4\n5790.7\n May\n0.7\n237.3\n495.6\n135.1\n181.0\n101.4\n622.7\n5.5\n1779.2\n18.2\n2922.7\n525.7\n434.2\n384.3\n6064.3\n Jun\n0.8\n245.7\n570.9\n155.1\n144.7\n90.8\n750.1\n4.4\n1962.4\n28.8\n2872.6\n498.4\n351.0\n386.2\n6099.4\n Jul\n0.9\n226.0\n544.9\n137.3\n135.3\n86.3\n770.0\n0.0\n1900.7\n28.8\n2815.0\n504.1\n361.1\n388.8\n5998.5\n Aug\n1.0\n234.0\n523.7\n104.3\n194.7\n76.1\n786.5\n5.1\n1925.3\n28.8\n2810.1\n535.2\n339.9\n390.5\n6029.6\n Sep\n1.0\n255.2\n551.8\n114.8\n192.9\n63.7\n764.9\n5.1\n1949.4\n28.0\n2844.1\n599.2\n404.6\n392.3\n6217.7\n Oct\n0.9\n215.7\n536.1\n143.7\n171.5\n83.5\n808.3\n5.2\n1964.9\n26.7\n2884.2\n599.3\n350.6\n391.5\n6217.0\n Nov\n1.2\n186.9\n526.1\n135.9\n123.5\n74.3\n871.8\n5.2\n1924.9\n26.6\n2931.5\n603.6\n355.3\n393.6\n6235.5\n Dec\n0.7\n181.6\n542.9\n127.5\n118.6\n79.7\n1031.3\n5.2\n2087.6\n20.8\n2820.5\n582.0\n352.8\n396.7\n6260.4\nLiquid Assets\nTABLE 7.1: COMMERCIAL BANKS - ASSETS\nSecurities\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n21 \n \n \n \n \n \n \n \n \nDeposits\nCapital\nContigent\nOther\nTotal\nOf which\nand\nLiablities\nLiablities\nLiabilities to the \nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\nPublic\n2014\n Jan\n2153.6\n802.7\n403.5\n3359.8\n661.3\n0.0\n55.9\n592.9\n516.1\n357.5\n5543.5\n3359.8\n Feb\n2111.8\n878.8\n494.6\n3485.2\n630.0\n0.0\n51.1\n609.5\n534.5\n359.0\n5669.5\n3485.2\n Mar\n2156.8\n919.6\n454.2\n3530.6\n635.5\n0.0\n44.8\n596.4\n522.7\n360.7\n5690.7\n3530.6\n Apr\n2267.5\n958.3\n435.7\n3661.5\n553.5\n0.0\n17.0\n595.0\n534.1\n352.4\n5713.6\n3661.5\n May\n2294.9\n975.8\n451.7\n3722.4\n585.0\n0.0\n13.7\n591.1\n591.4\n366.1\n5869.6\n3722.4\n Jun\n2248.9\n989.8\n506.1\n3744.8\n543.8\n0.0\n48.3\n591.2\n607.8\n376.7\n5912.6\n3744.8\n Jul\n2130.4\n892.9\n606.6\n3629.9\n560.8\n0.0\n39.5\n571.5\n597.5\n400.6\n5800.0\n3629.9\n Aug\n2202.3\n963.1\n539.9\n3705.3\n552.7\n0.0\n43.5\n580.7\n609.5\n401.2\n5892.9\n3705.3\n Sep\n2191.0\n1011.1\n562.6\n3764.8\n548.9\n0.0\n59.5\n544.8\n624.6\n412.7\n5955.3\n3764.8\n Oct\n2260.8\n1015.1\n509.9\n3785.8\n506.8\n0.0\n47.4\n543.3\n594.4\n426.0\n5903.8\n3785.8\n Nov\n2231.8\n943.4\n526.5\n3701.6\n509.4\n0.0\n90.6\n541.8\n597.5\n425.0\n5865.9\n3701.6\n Dec\n2101.6\n975.8\n453.2\n3530.5\n484.0\n0.0\n81.4\n713.6\n606.2\n217.5\n5633.3\n3530.5\n2015\nJan\n2056.2\n996.2\n561.7\n3614.0\n470.1\n0.0\n79.5\n728.5\n557.7\n234.3\n5684.2\n3614.0\nFeb\n2079.6\n876.1\n611.6\n3567.3\n426.6\n0.0\n75.6\n720.3\n564.8\n227.0\n5581.5\n3567.3\nMar\n2139.3\n940.4\n513.3\n3593.0\n461.1\n0.0\n101.9\n749.7\n527.3\n293.6\n5726.6\n3593.0\nApr\n2098.7\n943.5\n629.8\n3672.0\n448.9\n0.0\n103.4\n747.4\n527.1\n291.8\n5790.7\n3672.0\nMay\n2131.8\n1015.3\n615.3\n3762.4\n574.7\n0.0\n82.4\n814.7\n525.7\n304.4\n6064.3\n3762.4\nJun\n2213.2\n1021.9\n593.5\n3828.7\n560.2\n0.8\n103.1\n814.9\n498.4\n293.2\n6099.4\n3828.7\nJul\n2166.4\n889.7\n732.5\n3788.6\n478.9\n0.8\n88.2\n813.0\n504.1\n325.0\n5998.5\n3788.6\nAug\n2266.7\n790.9\n723.1\n3780.7\n490.7\n0.0\n83.4\n825.7\n535.2\n313.9\n6029.6\n3780.7\nSep\n2276.7\n967.6\n648.7\n3892.9\n504.0\n0.0\n72.0\n828.1\n599.2\n321.5\n6217.7\n3892.9\nOct\n2259.9\n909.3\n667.8\n3837.0\n494.3\n0.0\n122.2\n841.2\n599.3\n322.9\n6217.0\n3837.0\nNov\n2475.9\n919.4\n580.1\n3975.4\n347.6\n0.0\n126.0\n845.3\n603.6\n337.5\n6235.5\n3975.4\nDec\n2512.2\n999.0\n543.0\n4054.2\n320.4\n0.0\n140.4\n866.9\n582.0\n296.5\n6260.4\n4054.2\nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES\nUS$ Millions\nAmounts Owing to\n \n \nMONTHLY ECONOMIC REVIEW \n22 \n \n \n \n \n \n \nForeign\nLoans & \nContigent\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvnces\nAssets\nAssets\nAssets\nBond\n&\nBalances\nBalances \nBalances\nLiquid\nwith RBZ\nCoins\nCoin\nwith\nwith Other \nat\nTrade\nTreasury\nAgris Pes\nAssets\nat Banks\nRBZ\nBanks\nForeign Banks\nBills\nBills\n2014\n Jan\n0.0\n0.1\n0.5\n0.0\n0.2\n1.8\n0.0\n0.0\n2.6\n0.0\n81.3\n10.0\n23.5\n34.7\n152.1\n Feb\n0.0\n0.2\n0.4\n0.1\n0.1\n1.8\n0.0\n0.0\n2.5\n0.0\n77.6\n9.0\n24.1\n34.6\n147.9\n Mar\n0.0\n0.1\n0.1\n0.1\n0.1\n1.6\n0.0\n0.0\n2.0\n0.0\n53.2\n8.7\n21.8\n32.5\n118.1\n Apr\n0.0\n0.1\n0.4\n0.2\n0.3\n1.6\n0.0\n2.6\n5.2\n75.2\n8.5\n22.2\n32.4\n140.9\n284.4\n May\n0.0\n0.2\n0.4\n0.0\n0.1\n0.3\n0.0\n0.9\n1.9\n68.7\n0.1\n14.6\n30.3\n114.6\n230.2\n Jun\n0.0\n0.2\n0.2\n0.1\n0.0\n0.6\n0.0\n0.0\n1.2\n0.0\n66.8\n0.1\n14.7\n29.6\n112.4\n Jul\n0.0\n0.2\n0.3\n0.0\n0.1\n0.3\n0.0\n0.0\n0.9\n0.0\n66.9\n0.1\n12.9\n28.7\n109.6\n Aug\n0.0\n0.2\n0.7\n0.0\n0.1\n0.3\n0.0\n0.0\n1.3\n0.0\n64.4\n0.0\n19.4\n23.9\n109.0\n Sep\n0.0\n0.4\n0.2\n0.0\n0.1\n0.3\n0.0\n0.0\n1.1\n0.0\n65.9\n0.1\n18.9\n19.7\n105.8\n Oct\n0.0\n0.7\n0.7\n0.0\n0.1\n0.3\n0.0\n0.0\n1.7\n0.0\n68.3\n0.1\n10.8\n25.9\n106.9\n Nov\n0.0\n0.6\n0.1\n0.0\n0.1\n0.3\n0.0\n0.0\n1.0\n0.0\n67.1\n0.1\n12.4\n25.8\n106.3\nDec\n0.0\n0.9\n0.4\n0.0\n0.1\n0.3\n0.0\n0.0\n1.7\n0.0\n63.6\n0.1\n10.0\n24.6\n100.0\n2015\n Jan\n0.0\n0.6\n0.3\n0.0\n0.1\n1.6\n0.0\n0.0\n2.0\n0.0\n70.2\n8.3\n19.0\n23.7\n123.8\n Feb\n0.0\n0.4\n0.2\n0.1\n0.1\n1.6\n0.0\n0.0\n2.5\n0.0\n72.0\n8.3\n19.3\n23.6\n125.7\n Mar\n0.0\n0.4\n0.1\n0.0\n0.1\n1.5\n0.0\n0.0\n2.1\n0.0\n73.3\n8.2\n18.5\n23.4\n125.5\n Apr\n0.0\n0.3\n0.1\n0.0\n0.1\n0.2\n0.0\n0.0\n0.6\n0.0\n66.7\n0.0\n10.3\n21.3\n98.9\n May\n0.0\n0.4\n0.0\n0.0\n0.0\n0.2\n0.0\n0.0\n0.6\n0.0\n67.9\n0.0\n9.6\n21.2\n99.3\n Jun\n0.0\n0.3\n0.0\n0.0\n0.0\n0.4\n0.0\n0.0\n0.7\n0.0\n68.1\n0.0\n9.7\n21.1\n99.6\n Jul\n0.0\n0.2\n1.6\n0.0\n0.0\n0.2\n0.0\n0.0\n2.0\n0.0\n67.8\n0.0\n9.2\n21.0\n100.0\n Aug\n0.0\n0.1\n1.8\n0.0\n0.0\n0.2\n0.0\n0.0\n2.0\n0.0\n60.0\n0.0\n9.3\n28.1\n99.4\n Sep\n0.0\n0.1\n2.2\n0.0\n0.0\n0.2\n0.0\n0.0\n2.5\n0.0\n59.2\n0.0\n9.2\n28.0\n98.9\n Oct\n0.0\n0.1\n2.1\n0.0\n0.0\n0.2\n0.0\n0.0\n2.4\n0.0\n59.4\n0.0\n9.1\n27.8\n98.8\n Nov\n0.0\n0.1\n2.0\n0.0\n0.0\n0.2\n0.0\n0.0\n2.4\n0.0\n58.5\n0.0\n9.5\n20.6\n91.0\n Dec\n0.0\n0.1\n1.6\n0.0\n0.0\n0.2\n0.0\n0.0\n1.9\n0.0\n59.8\n0.0\n9.4\n20.5\n91.6\nUS$ Millions\nTABLE 8.1 : ACCEPTING HOUSES - ASSETS\nLiquid Assets\nSecurities\n \n \nMONTHLY ECONOMIC REVIEW \n23 \n \n \n \n \n \nOf which\nDeposits\nCapital\nContigent\nOther\nTotal\nLiabilities to the \nand\nLiablities\nLiablities\nPublic\nEnd of\nDemand\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nRBZ\nOther Banks\nReserves\n2014\n Jan\n36.8\n57.7\n5.7\n100.1\n11.7\n0.0\n0.0\n0.7\n10.0\n29.5\n152.1\n100.1\n Feb\n47.6\n48.3\n0.0\n95.8\n11.7\n0.0\n0.0\n-10.9\n9.0\n42.3\n147.9\n95.8\n Mar\n41.0\n55.8\n0.0\n96.9\n12.0\n0.0\n0.0\n-17.7\n8.7\n18.4\n118.1\n96.9\n Apr\n57.4\n40.3\n0.0\n97.7\n12.2\n0.0\n0.0\n-19.8\n8.5\n42.4\n140.9\n97.7\n May\n42.8\n34.6\n0.0\n77.4\n0.0\n0.0\n0.0\n4.7\n0.1\n32.5\n114.6\n77.4\n Jun\n42.8\n33.2\n0.0\n76.0\n0.0\n0.0\n0.0\n2.3\n0.1\n33.7\n112.1\n76.0\n Jul\n42.6\n33.8\n0.0\n76.3\n0.0\n0.0\n0.0\n-8.7\n0.1\n41.8\n109.6\n76.3\n Aug\n36.4\n40.4\n0.0\n76.8\n0.0\n0.0\n0.0\n-7.8\n0.0\n40.0\n109.0\n76.8\n Sep\n40.9\n33.9\n0.0\n74.9\n0.0\n0.0\n0.0\n-7.6\n0.1\n38.4\n105.8\n74.9\n Oct\n39.9\n33.7\n0.0\n73.6\n0.0\n0.0\n0.0\n-9.6\n0.1\n42.8\n106.9\n73.6\n Nov\n39.4\n33.3\n0.0\n72.7\n0.0\n0.0\n0.0\n-10.9\n0.1\n44.4\n106.3\n72.7\nDec\n36.9\n31.2\n0.0\n68.1\n0.0\n0.0\n0.0\n-17.9\n0.1\n49.7\n100.0\n68.1\n2015\n Jan\n39.0\n40.9\n0.0\n80.0\n11.7\n0.0\n0.0\n-47.0\n8.3\n70.7\n123.8\n80.0\n Feb\n38.4\n40.4\n0.0\n78.7\n11.7\n0.0\n0.0\n-48.7\n8.3\n75.6\n125.7\n78.7\n Mar\n68.6\n12.1\n0.0\n80.7\n12.0\n0.0\n0.0\n-50.7\n8.2\n75.2\n125.5\n80.7\n Apr\n63.9\n0.0\n0.0\n63.9\n0.0\n0.0\n0.0\n-27.5\n0.0\n62.4\n98.9\n63.9\n May\n63.9\n0.0\n0.0\n63.9\n0.0\n0.0\n0.0\n-28.8\n0.0\n64.2\n99.3\n63.9\n Jun\n62.9\n0.0\n0.0\n62.9\n0.0\n0.0\n0.0\n-28.9\n0.0\n65.6\n99.6\n62.9\n Jul\n62.9\n0.0\n0.0\n62.9\n0.0\n0.0\n0.0\n-27.8\n0.0\n64.8\n100.0\n62.9\n Aug\n62.9\n0.0\n0.0\n62.9\n0.0\n0.0\n0.0\n-14.9\n0.0\n51.3\n99.4\n62.9\n Sep\n62.2\n0.0\n0.0\n62.2\n0.0\n0.0\n0.0\n-15.3\n0.0\n52.0\n98.9\n62.2\n Oct\n61.9\n0.0\n0.0\n61.9\n0.0\n0.0\n0.0\n-16.4\n0.0\n53.2\n98.8\n61.9\n Nov\n58.8\n0.0\n0.0\n58.8\n0.0\n0.0\n0.0\n-20.2\n0.0\n52.5\n91.0\n58.8\n Dec\n58.5\n0.0\n0.0\n58.5\n0.0\n0.0\n0.0\n-20.1\n0.0\n53.2\n91.6\n58.5\nAmounts Owing to\nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n24 \n \n \n \n \nForeign\nMortgage\nOther\nOther\nNon Financial \nTOTAL\nEnd of\nNotes\nTotal\nOther Balances\nAdvances\nAdvances\nAssets\nAssets\n&\nBalances \nNostro \nwith RBZ/1\nBond\nCoin\nwith Other \nBalances\nTrade\nTreasury\nAgris Pes\nCoins\nat Banks\nBanks\nBills\n2014\nJan\n0.0\n30.9\n147.5\n0.0\n0.2\n40.0\n0.0\n218.6\n0.0\n384.5\n136.4\n64.4\n125.3\n929.1\nFeb\n0.0\n30.2\n165.0\n0.0\n0.2\n40.0\n0.0\n235.3\n0.0\n385.8\n132.0\n65.4\n125.4\n943.9\nMar\n0.0\n47.5\n166.2\n0.0\n0.2\n40.0\n0.0\n253.8\n0.0\n390.4\n132.1\n68.8\n125.0\n970.1\nApr\n0.0\n45.2\n161.0\n0.0\n0.2\n40.0\n0.0\n246.5\n0.0\n401.8\n132.4\n76.6\n124.7\n981.9\nMay\n0.0\n47.7\n190.7\n0.0\n0.2\n40.0\n0.0\n278.6\n0.0\n394.0\n147.0\n82.7\n124.3\n1026.7\nJun\n0.0\n39.5\n187.9\n0.0\n0.0\n40.0\n0.0\n267.4\n0.0\n400.0\n150.4\n84.0\n124.4\n1026.1\nJul\n0.0\n40.6\n180.9\n0.0\n0.0\n40.0\n0.0\n261.5\n0.0\n431.8\n159.4\n84.1\n124.4\n1061.2\nAug\n0.0\n17.8\n219.8\n0.0\n0.0\n51.4\n0.0\n289.1\n0.0\n442.4\n166.5\n86.4\n124.2\n1108.6\nSep\n0.0\n51.2\n183.1\n0.0\n0.0\n51.4\n0.0\n285.7\n0.0\n452.1\n173.8\n95.6\n123.8\n1131.0\nOct\n0.0\n37.1\n199.8\n0.0\n0.0\n51.7\n0.0\n288.6\n0.0\n483.1\n179.7\n102.2\n124.0\n1177.6\nNov\n0.0\n53.2\n217.5\n0.0\n0.0\n32.8\n0.0\n303.5\n0.0\n512.4\n169.3\n109.0\n123.5\n1217.6\n Dec\n0.1\n47.0\n224.9\n0.0\n0.2\n52.6\n0.0\n324.8\n0.0\n512.9\n169.0\n102.9\n125.3\n1234.9\n2015\nJan\n0.1\n37.3\n196.0\n0.0\n0.1\n51.8\n0.0\n307.1\n0.0\n511.6\n172.1\n105.8\n126.1\n1222.6\nFeb\n0.1\n32.1\n244.4\n0.0\n0.1\n51.9\n0.0\n328.6\n0.0\n522.9\n176.2\n106.8\n125.8\n1260.2\nMar\n0.1\n52.4\n214.4\n0.0\n0.1\n52.0\n0.0\n319.0\n0.0\n508.7\n180.0\n122.5\n125.5\n1255.5\nApr\n0.1\n32.5\n243.2\n0.0\n0.1\n60.4\n0.0\n336.3\n0.0\n520.2\n182.5\n118.3\n124.8\n1282.0\nMay\n0.1\n33.6\n257.7\n0.0\n0.1\n60.1\n0.0\n351.5\n0.0\n448.7\n235.1\n137.5\n125.2\n1298.0\nJun\n0.2\n59.6\n204.9\n0.0\n0.1\n60.1\n0.0\n324.8\n0.0\n464.9\n231.9\n139.4\n122.0\n1283.0\nJul\n0.2\n51.6\n205.5\n0.0\n0.1\n62.9\n0.0\n320.2\n0.0\n461.5\n230.6\n133.9\n121.9\n1268.2\nAug\n0.1\n53.0\n158.9\n0.0\n0.1\n76.2\n0.0\n288.4\n0.0\n482.9\n228.4\n136.0\n122.2\n1257.9\nSep\n0.1\n55.4\n161.7\n0.0\n0.1\n76.0\n0.0\n293.3\n0.0\n480.4\n263.4\n125.8\n122.1\n1285.0\nOct\n0.1\n45.2\n229.1\n0.0\n0.1\n76.0\n0.0\n350.5\n0.0\n494.0\n265.1\n126.0\n122.8\n1358.4\nNov\n0.1\n43.6\n256.8\n0.0\n0.1\n76.1\n0.0\n376.7\n0.0\n292.0\n479.3\n131.8\n121.1\n1400.9\nDec\n0.1\n27.3\n284.0\n0.0\n0.0\n76.6\n0.0\n387.9\n0.0\n317.4\n470.4\n114.7\n118.4\n1408.8\nLiquid Assets\nSecurities\nTABLE 9.1 : BUILDING SOCIETIES - ASSETS\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n25 \n \n \n \nOf which\nCapital\nOther\nTotal\nLiabilities to the \nand\nLiabilities\nPublic\nEnd of\nSavings and Short-term\nLong-term\nTotal\nForeign Liabilities\nOther Banks\nReserves\n2014\nJan\n313.9\n253.1\n567.0\n26.1\n80.6\n225.9\n29.5\n929.1\n567.0\nFeb\n318.7\n264.4\n583.1\n25.1\n81.3\n228.6\n25.8\n943.9\n583.1\nMar\n374.6\n234.6\n609.2\n24.7\n79.6\n231.4\n25.2\n970.1\n609.2\nApr\n358.4\n262.7\n621.1\n24.9\n76.5\n234.0\n25.4\n981.9\n621.1\nMay\n436.2\n233.2\n669.4\n24.7\n77.3\n238.0\n17.1\n1026.7\n669.4\nJun\n440.1\n212.2\n652.3\n34.8\n78.9\n243.1\n17.3\n1026.3\n652.3\nJul\n362.4\n302.9\n665.3\n30.1\n104.3\n244.2\n17.5\n1061.3\n665.3\nAug\n358.8\n336.8\n695.5\n35.7\n105.7\n250.6\n21.2\n1108.7\n695.5\nSep\n394.8\n297.6\n692.4\n54.2\n106.9\n253.5\n23.9\n1131.0\n692.4\nOct\n364.5\n368.0\n732.5\n54.2\n105.3\n258.5\n27.3\n1177.7\n732.5\nNov\n376.9\n392.0\n768.9\n54.6\n104.4\n262.9\n27.2\n1217.8\n768.9\nDec\n400.9\n387.5\n788.4\n54.2\n102.0\n262.7\n27.6\n1234.9\n788.4\n2015\nJan\n373.0\n397.1\n770.2\n54.6\n99.1\n267.8\n31.0\n1222.6\n770.2\nFeb\n405.8\n400.3\n806.2\n53.6\n98.3\n272.9\n29.2\n1260.2\n806.2\nMar\n408.1\n386.3\n794.4\n50.8\n108.8\n275.8\n25.8\n1255.5\n794.4\nApr\n464.1\n364.8\n828.9\n48.3\n99.4\n276.8\n28.7\n1282.0\n828.9\nMay\n472.0\n391.6\n863.6\n48.5\n87.4\n270.7\n27.8\n1298.0\n863.6\nJun\n492.9\n343.9\n836.8\n48.3\n94.0\n272.9\n31.1\n1283.0\n836.8\nJul\n458.3\n370.6\n828.9\n48.5\n85.8\n277.4\n27.5\n1268.2\n828.9\nAug\n438.4\n386.1\n824.5\n47.6\n73.2\n282.7\n29.9\n1257.9\n824.5\nSep\n498.9\n334.3\n833.2\n43.5\n84.9\n288.4\n35.0\n1285.0\n833.2\nOct\n465.3\n428.4\n893.7\n42.4\n99.0\n293.6\n29.7\n1358.4\n893.7\nNov\n446.1\n474.4\n920.4\n42.4\n104.3\n297.7\n36.0\n1400.9\n920.4\nDec\n480.5\n463.9\n944.4\n43.0\n99.4\n293.3\n28.8\n1408.8\n944.4\nDeposits\nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES\nUS$ Millions \nAmounts Owing to\n \n \nMONTHLY ECONOMIC REVIEW \n26 \n \n \nMarket Capitalisation\nIndustrial\nMining\nMarket Turnover(US$)\nVolume of Shares\nUS$ Millions\n2014\nJan\n189.25\n35.4\n63,972,387.0\n170,104,078\n4,882.1\nFeb\n189.45\n39.24\n25,811,746.9\n135,455,029\n4,906.9\nMar\n176.32\n29.51\n28,884,400.2\n381,649,234\n4,560.3\nApr\n172.91\n29.64\n51,346,054.5\n429,085,166\n4,473.5\nMay\n174.89\n35.45\n35,903,574.8\n235,704,129\n4,485.1\nJun\n186.57\n61.32\n28,544,304.7\n178,469,676\n4,873.4\nJuly\n188.07\n95.00\n25,224,550.4\n322,407,141\n4,959.2\nAug\n196.43\n104.8\n66,399,632.9\n328,161,452\n5,186.6\nSep\n195.25\n92.75\n34,056,010.7\n210,942,393\n5,140.2\nOct\n177.88\n70.38\n28,256,642.5\n156,444,539\n4,664.8\nNov\n171.45\n64.39\n34,765,242.8\n155,854,066\n4,517.9\nDec\n162.79\n71.71\n29,701,204.8\n475,024,051\n4,327.0\n2015\nJan\n164.9\n58.13\n16,062,740.8\n57,390,451\n4,365.1\nFeb\n167.16\n55.38\n34,775,616.2\n119,324,114\n4,353.4\nMar\n158.22\n43.92\n18,903,881.0\n405,884,918\n4,117.1\nApr\n156.23\n42.93\n29,188,562.0\n563,833,853\n4,066.1\nMay\n152.96\n44.45\n23,280,422.2\n290,320,685\n3,978.1\nJun\n148.40\n44.30\n14,514,679.0\n80,441,278\n3,803.8\nJul\n145.35\n39.36\n20,419,108.0\n157,184,218\n3,812.7\nAug\n135.43\n35.34\n15,344,249.0\n76,187,436\n3,552.0\nSep\n131.93\n24.36\n18,202,232.0\n105,678,504\n3,444.5\nOct\n130.83\n23.57\n12,864,086.0\n63,758,585\n3,416.1\nNov\n117.55\n22.33\n8,947,586.0\n90,417,554\n3,141.7\nDec\n114.85\n23.72\n16,360,451.6\n183,792,940\n3,073.4\nIndices\nTable 10: ZIMBABWE STOCK MARKET STATISTICS\n \n \nMONTHLY ECONOMIC REVIEW \n27 \n \n \nCommercial\nBuilding \nEnd of\nBanks\nP.O.S.B.\nSocieties\nTOTAL\n2014\nMay\n1,427.5\n77.5\n669.4\n2,209.0\nJun\n1,495.8\n81.3\n652.3\n2,262.6\nJul\n1,499.5\n84.2\n665.3\n2,282.7\nAug\n1,502.9\n84.0\n695.5\n2,322.9\nSep\n1,573.8\n88.6\n692.4\n2,388.8\nOct\n1,525.0\n87.5\n732.5\n2,378.7\nNov\n1,469.9\n89.8\n768.9\n2,361.8\nDec\n1,473.1\n84.8\n788.4\n2,377.5\n2015\nJan\n1,557.9\n86.3\n770.2\n2,455.2\nFeb\n1,487.7\n90.4\n806.2\n2,384.2\nMar\n1,453.7\n93.6\n794.4\n2,353.9\nApr\n1,573.3\n90.4\n828.9\n2,492.6\nMay\n1,630.6\n89.2\n863.6\n2,583.4\nJun\n1,615.4\n95.1\n836.8\n2,547.3\nJul\n1,622.2\n92.4\n828.9\n2,543.5\nAug\n1,514.0\n93.1\n824.5\n2,431.5\nSep\n1,616.2\n101.3\n833.2\n2,550.7\nOct\n1,577.1\n97.5\n893.7\n2,568.3\nNov\n1,499.5\n100.0\n920.4\n2,520.0\nDec\n1,542.0\n94.4\n944.4\n2,580.8\n1/ Comprises all deposits other than demand deposits.\nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS\nUS$ Millions\n \n \nMONTHLY ECONOMIC REVIEW \n28 \n \n \n \nLiquid\nPrescribed\nExcess\nLiquid\nPrescribed\nExcess\nassets\nliquid\nliquid\nassets\nliquid\nLiquid\nEnd of\nheld\nassets/1\nassets\nheld\nassets/1\nassets\n2014\nMay\n1,700.6\n1,116.7\n583.9\n1.9\n23.2\n-21.3\nJun\n1,716.1\n1,123.4\n592.7\n1.2\n22.8\n-21.6\nJul\n1,553.7\n1,089.0\n464.7\n0.9\n22.9\n-22.0\nAug\n1,618.6\n1,111.6\n507.0\n1.3\n23.0\n-21.7\nSep\n1,664.2\n1,129.4\n534.7\n1.1\n22.5\n-21.3\nOct\n1,644.7\n1,135.7\n508.9\n1.7\n22.1\n-20.3\nNov\n1,602.2\n1,110.5\n491.7\n1.0\n21.8\n-20.8\nDec\n1,571.0\n1,107.9\n463.1\n1.7\n20.4\n-18.7\n2015\nJan\n1,581.9\n1,084.2\n497.7\n2.0\n24.0\n-22.0\nFeb\n1,524.2\n1,070.2\n454.0\n2.5\n23.6\n-21.2\nMar\n1,543.8\n1,077.9\n465.9\n2.1\n24.2\n-22.1\nApr\n1,528.6\n1,101.6\n427.0\n0.6\n19.2\n-18.6\nMay\n1,779.2\n1,128.7\n650.4\n0.6\n19.2\n-18.5\nJun\n1,962.4\n1,148.6\n813.8\n0.7\n18.9\n-18.2\nJul\n1,900.7\n1,136.6\n764.1\n2.0\n18.9\n-16.9\nAug\n1,925.3\n1,134.2\n791.0\n2.0\n18.9\n-16.9\nSep\n1,949.4\n1,167.9\n781.6\n2.5\n18.6\n-16.1\nOct\n1,964.9\n1,151.1\n813.8\n2.4\n18.6\n-16.2\nNov\n1,924.9\n1,192.6\n732.2\n2.4\n17.6\n-15.3\nDec\n2,087.6\n1,216.3\n871.3\n1.9\n17.6\n-15.6\n1/ With effect from 1 August 2011, the prescribed liquid asset ratio was reviewed to 25% of liabilities to the public, from 20%. \nUS$ Millions\nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \nCommercial Banks\n Accepting Houses\n \n \nMONTHLY ECONOMIC REVIEW \n29 \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2014\nJan\n3093.01\n5.24\n102.26\n233.1\n228.25\n68.31\nFeb\n2954.93\n10.73\n96.27\n193.9\n217.14\n64.42\nMar\n3332.79\n10.4\n103.58\n232.94\n255.32\n87.94\nApr\n3439.33\n9.66\n126.26\n253.16\n264.38\n96.29\nMay\n3915.31\n13.65\n117.11\n181.35\n146.64\n121.98\nJun\n3657.44\n12.42\n110.38\n250.87\n284.18\n104.28\nJul\n3955.45\n11.72\n125.81\n267\n312.35\n101.75\nAug\n3467.34\n9.36\n135.9\n273.39\n320.36\n103.26\nSep\n4037.98\n11.16\n138.09\n280.8\n341.23\n115.94\nOct\n3843.84\n13.58\n150.09\n291.68\n362.30\n117.40\nNov\n4104.33\n9.33\n160.40\n299.94\n358.76\n103.76\nDec\n4615.04\n11.53\n148.5\n336.65\n395.93\n124.33\nAnnual Total\n44416.79\n128.78\n1514.65\n3094.78\n3486.84\n1209.66\n2015\nJan\n3659.00\n11.81\n154.43\n311.94\n352.18\n113.46\nFeb\n3221.13\n13.69\n141.79\n275.8\n334.62\n104.62\nMar\n3801.96\n11.11\n131.97\n298.30\n364.69\n111.70\nApr\n3919.47\n10.81\n133.99\n299.67\n341.22\n112.38\nMay\n3467.10\n13.08\n128.76\n316.66\n389.97\n124.5\nJun\n3014.73\n15.35\n123.53\n333.65\n438.72\n136.62\nJul\n4010.26\n12.64\n154.61\n332.37\n391.04\n128.61\nAug\n3299.06\n11.39\n193.36\n313.18\n391.19\n133.55\nSep\n3762.74\n12.93\n131.89\n318.75\n396.28\n396.28\nOct\n3964.53\n11.84\n149.41\n334.93\n434.71\n151.02\nNov\n3551.4\n12.02\n130.20\n347.68\n416.95\n154.38\nDec\n4167.88\n10.95\n146.60\n411.34\n477.51\n213.28\nAnnual Total\n43839.25\n147.62\n1720.54\n3894.27\n4729.07\n1880.40\nTABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY\nValues of Transactions (US$ millions)\n \n \nMONTHLY ECONOMIC REVIEW \n30 \n \n \nMONTH \nZETSS \nCHEQUE \nPOS\nATM\nMOBILE\n INTERNET\n2014\nJan\n182.48\n29.41\n973.79\n815.89\n11141.19\n24.19\nFeb\n175.09\n32.95\n991.91\n799.12\n10631.6\n25.1\nMar\n192.02\n32.35\n1163.76\n947.64\n12859.5\n30.82\nApr\n183.63\n28.12\n1184.85\n974.37\n13298.04\n29.23\nMay\n215.2\n37.09\n954.18\n793.43\n12146.9\n38.68\nJun\n193.58\n32.98\n1164.73\n966.45\n14163.56\n34.25\nJul\n199.59\n34.34\n1272.91\n1038.44\n15370.63\n37.68\nAug\n170.86\n27.25\n1300.35\n1122.41\n16268.07\n33.84\nSep\n197.88\n30.39\n1158.84\n1057.48\n15991.79\n39.35\nOct\n200.32\n34.58\n1193.38\n1086.16\n17527.40\n40.96\nNov\n171.45\n27.66\n1143.69\n1077.30\n17876.31\n42.01\nDec\n189.83\n27.49\n1161.59\n1162.71\n19347.91\n40.49\nAnnual Total\n2271.93\n374.61\n13663.98\n11841.40\n176622.90\n416.60\n2015\nJan\n170.77\n29.55\n1174.09\n1124.49\n16903.26\n37.60\nFeb\n172.25\n32.23\n1140.94\n1027.88\n16160.42\n39.94\nMar\n191.64\n30.33\n1183.64\n1110.17\n18211.89\n44.48\nApr\n180.34\n26.98\n1151.25\n1107.52\n17269.69\n43.55\nMay\n179.76\n27.38\n1052.50\n1123.77\n18684.62\n43.22\nJun\n196.41\n31.85\n1121.24\n1038.18\n17478.24\n47.17\nJul\n199.10\n34.00\n1288.23\n1167.43\n18670.44\n49.36\nAug\n153.13\n28.05\n1373.48\n1122.22\n19750.59\n46.52\nSep\n164.31\n31.15\n1196.87\n1103.91\n19133.21\n50.40\nOct\n156.43\n30.78\n1295.03\n1152.83\n22166.45\n54.05\nNov\n143.44\n32.19\n1206.16\n1151.34\n21390.18\n51.34\nDec\n155.04\n27.25\n1359.88\n1183.57\n22904.33\n52.59\nAnnual Total\n2062.62\n361.73\n14543.30\n13413.30\n228723.31\n560.22\nTABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY\nVolumes of Transactions (in thousands)", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/December2015.pdf"}

dedup/cb_requests/1e1998f8ae8980e43a717a08e0f7676d.json

@@ -0,0 +1 @@
+{"url": "https://www.resbank.co.za/en/home/publications/publication-detail-pages/speeches/speeches-by-governors/2025/cassim-fmd-cocktail", "source": "SARB", "fetch_date": "2026-04-27", "date": "2025-09-04", "token_count": 179}

dedup/cb_requests/1f9c68f631d7810137f2f9f793056142.json

@@ -0,0 +1 @@
+{"doc_id": "1f9c68f631d7810137f2f9f793056142", "text": "Title : \nStatement of the Monetary Policy Committee \nPublished Date: \n2013-01-24 \nLast Modified Date: \n2021-02-15, 08:35 \nCategory: \nStatements > Monetary Policy Statements \n--- \nIssued by Gill Marcus, Governor of the South African Reserve Bank \n \n \n \nSince the previous meeting of the Monetary Policy Committee (MPC) there has been some \nimprovement in global financial market sentiment, but economic growth prospects in a number \nof the major advanced economies or regions remain constrained. Downside risks to the outlook \npersist as the structural problems in many countries, and in the Eurozone in particular, are still \nunresolved. Monetary policy in most countries is likely to remain accommodative in the absence \nof clear evidence of a sustained recovery, particularly against the backdrop of a relatively benign \nglobal inflation environment. \nDespite a generally positive reaction to the ANC elective conference, ongoing labour conflict, \nthe proposed scaling down of mining operations and ratings agency downgrades are symptomatic \nof the challenging domestic outlook. In the absence of coherent and consistent structural policy \ninitiatives domestic economic growth is expected to continue to be well below both what is \npossible and required to make significant inroads into unemployment. In contrast to the situation \nin most advanced economies, the risks to the inflation outlook remain on the upside, due in large \npart to continued exchange rate and wage cost pressures. \nThe year-on-year inflation rate as measured by the consumer price index (CPI) for all urban areas \nwas 5,7 per cent in December 2012, up from 5,6 per cent in November. The categories of food \nand non-alcoholic beverages, housing and utilities, and transport together accounted for 3,5 \npercentage points of the inflation outcome. Food price inflation moderated from 7,5 per cent in \nNovember to 7,0 per cent, mainly as a result of lower meat and grain price increases. Core \ninflation, as measured by the exclusion of food, petrol and electricity from CPI, which had been \nunchanged at 4,7 per cent since September, increased to 4,9 per cent in December, mainly as a \nresult of increases in services price inflation, and in line with the Bank’s forecast. Administered \nprices increased by 8,8 per cent, and by 7,6 per cent excluding petrol. \nHaving reached a recent low of 4,2 per cent in September 2012, year-on-year producer price \ninflation increased to 5,2 per cent in both October and November. This reversal of the previous \ndownward trend was mainly due to price increases in mining and quarrying, agricultural products \nand manufactured food. Agricultural prices increased at year-on-year rates of 6,3 per cent and 5,9 \nper cent in October and November respectively, while manufactured food prices increased at \nrates of 10,9 per cent and 11,1 per cent in these months, respectively. \nThe inflation forecast of the Bank reflects a further deterioration in the inflation outlook for 2013 \ncompared with the previous forecast. The forecasts do not yet incorporate the new CPI weights \nand rebasing recently announced by Statistics South Africa, but these changes will be \nincorporated formally into the Bank’s next forecast. The impact on the inflation trajectory is \nlikely to be marginal. Having averaged 5,6 per cent in 2012, inflation is now expected to average \n5,8 per cent in 2013, and 5,2 per cent in 2014 compared with the previous forecasts of 5,5 per \ncent and 5,0 per cent for the respective years. Inflation is expected to peak at 6,1 per cent in the \nthird quarter of 2013 and then to moderate gradually to 5,1 per cent in the final two quarters of \n2014. This deterioration is largely due to higher expected food price inflation, the lagged effects \nof the depreciation of the rand and higher expected unit labour costs. \nThe forecast of core inflation is more or less unchanged, indicating the continued absence of \nsignificant demand pressures. This measure is expected to peak at 5,0 per cent in the first two \nquarters of 2013, and to average 4,9 per cent and 4,5 per cent in 2013 and 2014, respectively. \nInflation expectations remain anchored at around the upper end of the inflation target range. \nAccording to the Survey of Inflation Expectations conducted by the Bureau for Economic \nResearch in the fourth quarter of 2012, inflation is expected to average 6,1 per cent in 2013 and \n6,2 per cent in 2014. This represents a marginal increase of 0,1 percentage point for 2013 \ncompared with the previous survey, while the forecast for 2014 is unchanged. Business \nexecutives are the most pessimistic about inflation, having raised expected inflation rates to 6,6 \nper cent and 6,7 per cent in 2013 and 2014, while trade union respondents reduced their forecasts \nto 6,1 per cent and 6,6 per cent respectively for these years. The forecasts of financial analysts \nincreased marginally but remain within the target range for the forecast period. For the past four \nquarters expectations for the next 5 years have remained unchanged at 6,2 per cent. \nThe global growth outlook remains challenging, notwithstanding improved sentiment in global \nfinancial markets following the interim deal related to the fiscal cliff in the US. The fiscal issues \nhave not been fully resolved, with decisions on expenditure cuts and the debt ceiling delayed till \nlater this year. While the worst-case fiscal scenario has been avoided, the uncertain fiscal outlook \nis likely to contribute to continued sub-trend US growth. On the positive side, there are \ncontinued signs of a recovery in the US housing market and improved corporate profitability. \nAlthough sovereign debt risks in the Eurozone have subsided for now and bond spreads on \nperipheral European debt have narrowed significantly, the region is likely to remain in recession \nfor much of the year, as fiscal tightening and balance sheet repair by banks and households \ncontinue. The unemployment rate has now reached 11,8 per cent with youth unemployment at 24 \nper cent. The outlook for Germany, the main growth driver in the region, has also deteriorated. \nGrowth prospects in the UK remain relatively weak, while the outlook for Japan is uncertain \ndespite the announcement of substantial fiscal and monetary policy stimuli. \nThe outlook for emerging markets, particularly those in Asia, is more positive. The Chinese \neconomy appears to have stabilised following concerns about a possible hard landing, and \nconsensus forecasts suggest some growth acceleration in 2013 in both China and India. Growth \nin Africa is expected to be sustained at rates in excess of 5 per cent, while Latin American \ngrowth is expected to be more restrained, but an improvement on 2012. \nThe rand exchange rate continues to pose an upside risk to the inflation outlook. The exchange \nrate has been impacted by the widening deficit on the current account of the balance of payments \nduring 2012 and changing global and domestic risk perceptions, particularly relating to the \nadverse developments in the South African labour market, and the downgrades by the various \nratings agencies. Since the previous meeting of the MPC, the rand has been fairly volatile, \nhaving appreciated initially from R8,94 to the US dollar, to R8,45 at the end of the year, but \nsubsequently depreciated to current levels of around R9,00. Since the beginning of the year, the \nrand has depreciated by 6,1 per cent on a trade weighted basis and by about 6,6 per cent against \nthe US dollar. \nWhile the rand is expected to remain sensitive to domestic and global developments and \ncontinued volatility can be expected, most analysts do not expect significant further sustained \ndepreciation in the coming months. The depreciation of the rand is expected to help moderate the \ncurrent account imbalance, although platinum export growth may be undermined to some extent \nby possible shaft closures. However, financing of the deficit may be more challenging despite \nrelatively high domestic nominal bond yields, as sentiment towards South Africa has \ndeteriorated, and non-residents already hold over one-third of the stock of outstanding \ngovernment bonds. \nNon-resident net purchases of domestic bonds totalled R88,6 billion during 2012 due in part to \nSouth Africa’s inclusion in the Citibank World Government Bond Index. However the pace of \ninflows declined substantially in the final quarter of the year, when net purchases amounted to \nR10,6 billion. Since the beginning of 2013, net purchases by non-residents have amounted to \nR4,3 billion. While non-residents were net sellers of equities during 2012 to the value of R3,4 \nbillion, they were net buyers to the value of R7,3 billion in November and December. Year to \ndate, however, the negative trend regarding equities has continued with net sales of R2,3 billion \nas growth prospects remain weak. \nDomestic economic growth remains fragile and below potential following an annualised growth \nrate of 1,2 per cent in the third quarter of 2012, and an estimated growth rate of around 2,5 per \ncent for the year. A similar outcome is expected in 2013 with growth of 2,6 per cent forecast, \nrevised down from 2,9 per cent in the previous forecast. A more favourable outcome of 3,8 per \ncent is forecast for 2014, compared with 3,6 per cent previously, driven in part by a more \nfavourable global outlook. However, the risks to these forecasts are assessed to be on the \ndownside, given uncertainties and instability in parts of the mining and agricultural sectors in \nparticular. Constraints to growth are both external and internal. To achieve a higher internally-\ngenerated growth rate would require a serious commitment to implementing a range of structural \nreforms and making the necessary trade-offs as outlined in the National Development Plan. \nThe outlook for parts of the mining sector is bleak, following continued labour disputes and \nannouncements of possible closures of shafts and mines, a consequence of increased cost \npressures, weak global demand and prices. Although mining output increased on a month-to-\nmonth basis in November, on a three-month-to-three-month basis a contraction of 10,4 per cent \nwas recorded. \nThere are mixed signals pertaining to the outlook for the manufacturing sector. The real volume \nof manufacturing production increased by 2,3 per cent in November, its highest month-on-month \nrate in 4 years, due in part to a rebound from widespread strike activity in previous months, and \ngrowth in the fourth quarter is estimated to have been relatively robust. Capacity utilisation has \nalso increased. However, the Kagiso PMI declined to below the 50 index point level to 47,4 in \nDecember, indicating an expectation of some contraction in the sector. \nThe negative business sentiment evident in the confidence indicators is also reflected in the \ncontinued weakness in private sector gross fixed capital formation. Recent developments in the \nmining sector are likely to reinforce this weakness as plans are scaled back. Investment \nexpenditure is likely to remain underpinned by the government and state-owned enterprises. In \nthe third quarter of 2012, gross fixed capital formation grew at an annualised rate of 7,2 per cent, \nbut private sector capital formation, which accounts for just under two thirds of the total, only \ngrew at a rate of 2,8 per cent. \nGrowth in consumption expenditure by households moderated as expected in the third quarter of \n2012 when it increased by 2,6 per cent. The main driver of the moderation was the decline in \nexpenditure growth on services and non-durable goods. However there are also signs of \nmoderation in the growth of expenditure on durable and semi-durable goods, and the depreciated \nexchange rate is likely to sustain this trend. Growth in motor vehicle sales has slowed in recent \nmonths, and there was a marked decline in the confidence of new vehicle traders reported by the \nBER. Despite the higher-than-expected increase in retail trade sales in November, the quarterly \nrates suggest further moderation in growth. The FNB/BER Consumer Confidence Index declined \nby 2 index points to -3 index points in the final quarter of 2012. \nOn balance, the MPC does not assess growth in household consumption expenditure to be \nexcessive or to pose significant inflationary risks, and further moderation is possible. Factors that \naffect the outlook for consumption expenditure, both positively and negatively, include concerns \nregarding employment, wage settlements, credit extension particularly unsecured lending, and \nadministered price increases which impact on discretionary spending. \nThe upward momentum of banks’ total loans and advances to the private sector has continued, \nwith twelve-month growth of 9,9 per cent recorded in November, the highest growth rate since \nFebruary 2009. Excluding mortgage advances, which remain subdued, the increase in November \nwas 18,3 per cent. Bank credit extension to the household sector increased by 10,4 per cent. \nGeneral loans to households, which is mainly unsecured lending, while still exhibiting rates of \ngrowth in excess of 30 per cent, shows some signs of moderation amid reports that banks are \nbecoming more cautious in extending new loans in this category. Access to new loans may also \nbe constrained by the increased size of outstanding debt. However, despite rising debt levels, \nhousehold debt to disposable income appears to have stabilised at around 76 per cent. \nThe MPC remains concerned about the potential impact of the higher level of wage settlements \non employment and inflation. There are indications that wage increases are trending higher, with \ngrowth in nominal remuneration per worker increasing from 7,2 per cent in the second quarter of \n2012 to 8,1 per cent in the third quarter. Once productivity increases are accounted for, this \ntranslates into unit labour cost increases of 6,1 per cent and 6,7 per cent in these respective \nquarters. According to Andrew Levy Employment Publications, the overall average wage \nsettlement rate in collective bargaining agreements amounted to 7,4 per cent in the first nine \nmonths of 2012. \nThe MPC is mindful of the danger of a possible wage-price spiral and further employment losses \nshould unaffordable real wage demands be granted while economic growth remains constrained. \nThe risk to inflation should this scenario play itself out are significant in the absence of \nproductivity gains. \nThe subdued pace of employment creation in the private sector has been further undermined by \nthe fractious nature of recent wage negotiations and the announcement of further possible \nrestructuring in the mining sector which would involve the closure or mothballing of mines or \nshafts. According to the Quarterly Employment Statistics survey of Statistics South Africa, non-\nagricultural formal sector employment grew by 1,0 per cent or 82,000 employees in the year to \nSeptember 2012. Almost two thirds of this increase was accounted for by the public sector, while \nnet job losses over this period were experienced in the manufacturing and construction sectors, \nwith employment in the mining sector unchanged. However, in the third quarter of 2012, 15,000 \njobs were shed in the mining sector and there are fears that this trend could continue. \nEmployment in the agricultural sector, which is not covered by the survey, is also at risk. \nFood prices continue to pose a significant near-term risk to the inflation outlook, although there \nare signs that these price pressures may moderate during the year as a result of favourable base \neffects, as well as the recent moderation in global and domestic wheat and maize prices. The \nprice of these commodities will also be influenced by developments in the exchange rate of the \nrand and unpredictable weather patterns. \nAdministered prices remain on average well in excess of the upper end of the target range, and \nthere is as yet no clarity about the new Eskom tariffs to be implemented later this year. At this \nstage a 16 per cent tariff increase is assumed in the forecast. International oil prices have \nremained relatively stable for the past few months and are more or less unchanged from the \nprevious meeting of the MPC. Futures prices reflect an expectation of some moderation in \ncoming months, but some volatility can be expected. The domestic price of petrol, which is also \nimpacted by the exchange rate, declined by a cumulative 34 cents per litre since early November, \nbut much of this decline is likely to be reversed in February. \nThe MPC continues to assess the balance of risks to the inflation outlook to be on the upside. \nWhile the risks to the forecast emanating from food prices may have diminished somewhat, \nparticularly over the medium term, the exchange rate and wage settlements remain the key \nupside risk factors. While the reweighting and rebasing of the CPI is still to be finalised, the \nimpact is likely to be marginal, but on the upside. Core inflation trends indicate that demand \npressures are relatively contained, and household consumption expenditure has continued to \nmoderate. \nRisks to economic growth are assessed to be on the downside, particularly given the uncertain \noutlook for the mining industry and ongoing unsettled labour relations. The negative output gap \nis therefore expected to persist. The MPC remains concerned about the possibility of a wage-\nprice spiral and its potential to exacerbate the high level of unemployment in the economy. As \nwe noted in the previous MPC statement, concerted action is needed on the part of all the parties \ninvolved. We need cohesion of policy and decision making to provide the necessary certainty for \nsustainable economic growth and development. \nThe monetary policy stance remains accommodative and appropriate, with the real policy rate \nremaining slightly negative, notwithstanding the expected temporary breach of the inflation \ntarget. However, further accommodation at this stage is constrained by the upside risks to the \ninflation outlook. The MPC has therefore decided to keep the repurchase rate unchanged at 5,0 \nper cent per annum. As always, the MPC will monitor developments closely and will not hesitate \nto act in a manner consistent with its mandate. \nGill Marcus \nGOVERNOR \nContact person: \nCandice Jeffreys", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/Statement of the Monetary Policy Committee Jan 2013.pdf"}

dedup/cb_requests/20105788391cf34150c3eb8ae25e860c.json

@@ -0,0 +1 @@
+{"url": "file:///CBN/Annual_Reports/2017 Statistical Bulletin Statistical Expectations Survey.pdf", "source": "CBN", "fetch_date": "2026-05-11", "filename": "2017 Statistical Bulletin Statistical Expectations Survey.pdf", "subfolder": "CBN\\Annual_Reports", "token_count": 13592}

dedup/cb_requests/20dc2d73e72dfcf3486382934ad84519.json

@@ -0,0 +1 @@
+{"doc_id": "20dc2d73e72dfcf3486382934ad84519", "text": "1\n \nPRESS STATEMENT \nEMBARGO DELIVERY \n29 January 2026 \n \nSTATEMENT OF THE MONETARY POLICY COMMITTEE \n \nIssued by Lesetja Kganyago, Governor of the South African Reserve Bank \nGood day \nLast year was marked by extreme global uncertainty, and 2026 has begun with a \nnew round of shocks. Geopolitical tensions remain elevated, reflecting what appears \nto be a rupture in the global political order. There are also new threats to central \nbank independence. \nMarkets are jittery, and precious metals like gold have received safe-haven flows.1 \nThere are also ongoing risks of an Artificial Intelligence (AI) bubble. Furthermore, \nglobal imbalances have become very large. For instance, China’s trade surplus was \nover a trillion dollars last year, a new record.2 Meanwhile, government debt is still \ngrowing fast in key economies, with the US fiscal deficit, for example, approaching \ntwo trillion dollars.3 These trends are not sustainable. \nDespite these fragilities, asset prices have been resilient and global growth is holding \nup,4 supported by investments in AI, as well as fiscal stimulus in major economies. \nInflation generally slowed last year, and many central banks have had space to \n \n1 Relatedly, for the World Economic Forum’s 2026 global risk report, survey respondents identified \n‘geoeconomic confrontation’ and ‘state-based armed conflict’ as the top two risks ‘most likely to \npresent a material crisis on a global scale in 2026’. \n2 The official figure was $1.19 trillion, about a fifth higher than 2024. \n3 The FY2025 deficit was $1.78 trillion. The US fiscal year runs to October. \n4 The global growth rate used in the forecast has been revised up slightly, from 2.7% to 2.8% for \n2025, with 2026 unchanged at 2.9%. The IMF’s January update to the World Economic Outlook \nprojections likewise had small upward revisions for global growth. \n \n2\nadopt more neutral policy settings. Financing conditions for emerging markets \nremain benign. \nTurning to South Africa, growth looks steadier. The economy has expanded for four \nconsecutive quarters, and the available data suggest it grew further in the most \nrecent quarter.5 This would mark the longest unbroken growth phase since 2018.6 \nThe main growth driver has been household consumption, up by more than 3% last \nyear, compared to an estimated 1.3% for the overall economy. Unfortunately, \ninvestment has been weak, contracting during the first half of 2025. However, the \nthird-quarter data showed a rebound. We hope this investment recovery will be \nsustained, allowing the economy to achieve structurally higher growth.7 \nOur forecasts continue to show growth moving somewhat higher, approaching 2% \nover the medium term. We see some upside risks to these projections. \nMoving to prices, inflation last year was 3.2%, close to our 3% objective. Inflation \nwas a bit higher towards the end of the year, mainly because of temporary factors. \nThe December print came in at 3.6%. However, we expect this was the peak, and \nthat inflation will slow from here. \nIndeed, our near-term inflation forecast has fallen, with the rand stronger8 and a \nlower oil price assumption.9 We are, however, keeping an eye on food inflation, \nespecially meat prices, which are being affected by a serious outbreak of foot and \nmouth disease. We are also concerned about electricity prices, given that NERSA’s \nprice correction may rise from R54 billion to R76 billion.10 \nMore positively, inflation expectations have fallen, with the latest survey showing \nlonger-term expectations at record lows.11 We look forward to expectations declining \n \n5 2025Q4 growth is estimated at 0.3% (q/q, sa) \n6 The economy achieved six consecutive growth quarters between 2016Q4 and 2018Q1. To put that \nin context, it expanded for 18 consecutive quarters between 2009Q3 and 2013Q4, and 40 quarters \nfrom 1998Q4 to 2008Q3. \n7 Investment is estimated to have contracted by 2.1% for the year as a whole \n8 The implied starting point for the forecast is R16.54 per US$ (2026Q1), followed by 16.73 (2026Q2) \n9 The November 2025 projection for 2026 inflation was 3.5%. The latest projection is 3.3%. \n10 While the baseline forecast keeps the electricity price assumptions unchanged, a larger recovery to \nunwind the additional error would raise 2027 inflation to 3.3% and 2028 inflation to 3.1%, compared \nwith 3.2% and 3.0% for those two years, respectively, in the baseline. \n11 The BER survey for 2025Q4 had both 2-year ahead average expectations, and expectations over 5 \nyears, at 3.7%. These categories were both at 4.2% in the 2025Q3 survey. \n \n3\nfurther, as South Africans experience ongoing lower inflation and learn more about \nthe new target.12 \nIn turn, lower expectations will be important for getting inflation to settle at 3%. \nCurrently, we are benefitting from low goods price inflation, supported by factors like \nthe stronger rand. Goods inflation is at 3%, and core goods is at 1.2%. By contrast, \nservices inflation is still over 4%. It is desirable to have services inflation moving \ncloser to 3%, as low inflation becomes the new normal for South Africa. \nWe assess the risks to the inflation outlook as balanced. \nAgainst this backdrop, the MPC decided to keep the policy rate unchanged, at \n6.75%. Two members favoured a cut of 25 basis points, while four preferred a hold. \nThe Quarterly Projection Model continues to forecast gradual rate cuts as inflation \nsubsides. The model interprets the policy stance as moderately restrictive currently, \nwith rates reaching neutral levels during 2027. As before, this rate path remains a \nbroad policy guide. Our decisions will continue to be taken on a meeting-by-meeting \nbasis, with careful attention to the outlook, data outcomes, and the balance of risks \nto the forecast. \nMoving to our scenarios: \nOver the past year, there have been large changes in both the rand exchange rate \nand oil prices. Our baseline forecasts assume these prices will stay roughly where \nthey ended 2025,13 but the outlook is uncertain. We therefore considered a pair of \nscenarios: a favourable one where the rand is stronger and the oil price keeps \nfalling, and a more challenging one where the rand weakens and oil goes up again.14 \nIn the adverse scenario, inflation peaks at 4%, and the convergence to the 3% target \nis slower. Interest rates are largely unchanged in the near term, with the shift down to \nneutral delayed by about a year. In the positive scenario, inflation gets as low as \n \n12 Breakeven rates have also moderated somewhat since the November 2025 MPC. The 5-year \nmetric is around 3.3%, and the 10-year is just below 4%, a record low. \n13 The oil price assumption is US$65 per barrel over the forecast horizon while the implied rand dollar \nstays in a range of 16.54-17.10. \n14 The scenario assumptions roughly correspond to the high and low ends of the range of Bloomberg \nconsensus forecasts. The adverse scenario has the rand weaken to R18.50 per US$, with oil reaching \nUS$75 per barrel, while the positive scenario has the rand as strong as R15.50 per US$ (and ending \nat R16.00 per US$), and oil down to US$51 per barrel (ending at US$55 per barrel). \n \n4\n2.3%, temporarily. In this context, expectations ease faster and inflation ultimately \nsettles near 3% more quickly. This allows front-loading of interest rate cuts, with \nneutral reached during the current year. \nThese scenarios show that even quite large shocks, like those modelled, would not \npush inflation outside our tolerance range of 3% plus or minus one. They also \ndemonstrate how supply shocks interact with inflation expectations, affecting how \nfast we deliver on the 3% target. We are trying to anchor expectations at 3%. \nPositive shocks get us there sooner, while negative shocks delay the process, but \ndon’t block it. Overall, monetary policy appears well positioned to manage the range \nof shocks that might come our way. \nTo conclude, 2025 was a watershed year for the South African economy. Despite a \nvolatile global backdrop, there was significant progress on domestic reforms, \nincluding a new inflation target. These efforts have been rewarded with lower \nborrowing costs, a rapid decline in inflation expectations, and steadier growth. It is \ncrucial to sustain this progress. For monetary policy, our main contribution is to \ndeliver on the new target, which means stabilising inflation at 3% over the next few \nyears. Further gains in economic performance would come from reaching a prudent \npublic debt level, lowering administered price inflation, and continuing structural \nreforms that raise potential growth. \nLesetja Kganyago \nGOVERNOR \n \nThe next statement of the Monetary Policy Committee will be released on 26 March. \n \nContact person: \nThoraya Pandy \n082.416.8416 \nmedia@resbank.co.za", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/jan26-statement.pdf"}

dedup/cb_requests/22ac9b1e31b2b3f22f578e3f43425c4f.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/Monthly_Economic_Reviews/Monthly-Economic-Review-April-2020.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "Monthly-Economic-Review-April-2020.pdf", "subfolder": "SARB\\Monthly_Economic_Reviews", "token_count": 12425}

dedup/cb_requests/235288bd3762542db34d477419778851.json

@@ -0,0 +1 @@
+{"url": "file:///CBN/MPC_Communiques/Central Bank of Nigeria Communique No. 89 of the MPC Meeting of Monday and Tuesday, May 20-21, 2013.pdf", "source": "CBN", "fetch_date": "2026-05-11", "filename": "Central Bank of Nigeria Communique No. 89 of the MPC Meeting of Monday and Tuesday, May 20-21, 2013.pdf", "subfolder": "CBN\\MPC_Communiques", "token_count": 2280}

dedup/cb_requests/2497f9a595633668b4a533f68ea0b5bc.json

@@ -0,0 +1 @@
+{"url": "file:///CBN/MPC_Communiques/Central Bank of Nigeria Communique No. 147 of The Monetary Policy Committee Meeting Held on Monday 20th and Tuesday 21st March 2023 and Personal Statements of Members (2) (1).pdf", "source": "CBN", "fetch_date": "2026-05-11", "filename": "Central Bank of Nigeria Communique No. 147 of The Monetary Policy Committee Meeting Held on Monday 20th and Tuesday 21st March 2023 and Personal Statements of Members (2) (1).pdf", "subfolder": "CBN\\MPC_Communiques", "token_count": 20328}

dedup/cb_requests/250010919d0818a938119e77c6c4624d.json

@@ -0,0 +1 @@
+{"doc_id": "250010919d0818a938119e77c6c4624d", "text": "MPC Statement November 21st, 2019 \nPage 1 \n \n \nSouth African Reserve Bank \nPRESS STATEMENT \nEMBARGO DELIVERY \n21 November 2019 \n \n \nSTATEMENT OF THE MONETARY POLICY COMMITTEE \n \nIssued by Lesetja Kganyago, Governor of the South African Reserve Bank \nSince the September meeting of the Monetary Policy Committee (MPC), global \neconomic indicators have remained weak and global inflation low. Central banks in \nadvanced economies provided more monetary accommodation, helping to ease global \nfinancing conditions, but further easing appears less likely. Downside risks from \nheightened trade tensions and geo-political developments remain. \nDespite a rebound in local GDP in the second quarter of this year, indicators suggest \nthat economic activity will remain weak for the rest of the year. Recent monthly inflation \nhas been lower than the mid-point of the inflation target range, as owners’ equivalent \nrent, food and services inflation remain subdued. \nThe year-on-year inflation rate, as measured by the consumer price index (CPI) for all \nurban areas, was 3.7% in October (down from 4.1% in September). Goods price \ninflation in October was 3.1% (down from 4.0% in September), while services price \ninflation remained at 4.2%. Food and non-alcoholic beverage price inflation slowed to \n3.6% (down from 3.9%). The Bank’s measure of core inflation, which excludes food, \nMPC Statement November 21st, 2019 \nPage 2 \n \nfuel and electricity, remains unchanged at 4.0%. Producer price inflation for final \nmanufactured goods decreased to 4.1% in September (compared to 4.5% in \nAugust). \nThe medium-term inflation outlook is largely unchanged since September. The \ninflation forecast generated by the SARB’s Quarterly Projection Model (QPM) is \nunchanged compared to September, averaging 4.2% in 2019, 5.1% for 2020 and 4.7% \nfor 2021. Headline CPI inflation is expected to peak at 5.3% in the first quarter of 2020 \nand settle at 4.5% in the last quarter of 2021. The forecast for core inflation is lower at \n4.2% in 2019 (down from 4.3%), at 4.5% in 2020 (down from 4.7%) and remains \nsteady at 4.6% in 2021. Food price inflation continues to surprise to the downside on \na monthly basis, and is expected to peak at about 6.1% in the third quarter of 2020. \nInflation expectations have continued to moderate gradually. According to the Bureau \nfor Economic Research (BER) third quarter survey, expectations for headline inflation \nare down slightly for 2019 to 4.6% (from 4.8%). Expectations for 2020 remain \nunchanged at 5.0% and eased from 5.2% to 5.1% for 2021, reaching the lowest levels \nsince 2007. Five-year-ahead inflation expectations also declined to 5.0% (from 5.1%). \nThe inflation expectations of market analysts in the November 2019 Reuters \nEconometer survey remain unchanged at 4.3% for 2019, revised lower to 4.7% (from \n4.9%) for 2020 and are unchanged at 4.8% in 2021. \nMarket based expectations implicit in the break-even inflation rates (the yield \ndifferential between conventional and inflation-linked bonds) have moderated \nsomewhat since the previous MPC. Five-year break-even inflation rates are currently \nabout 4.5% and ten-year break-even rates are at 5.4%. \nMPC Statement November 21st, 2019 \nPage 3 \n \nGlobal GDP is expected to average 3.0% in 2019, rising to about 3.4% in 2020. While \ntrade and manufacturing indicators continue to be weak, services have remained more \nresilient, keeping overall global growth rates up. However, services have shown \nweakness in some regions and a range of downside risks to growth remain. These \ninclude geo-political developments, trade tensions, further oil price shocks, and high \nlevels of corporate and sovereign debt. Across most countries, there is limited policy \nspace to respond to shocks. \nInflation outcomes and inflation expectations in most advanced economies remain \nbelow targeted levels. Barring significant shocks, monetary policy in major advanced \neconomies will remain accommodative over the medium term. While global financial \nmarket sentiment has turned more positive in recent weeks, the risk of renewed market \nvolatility remains high. \nSince the September MPC, the rand has depreciated slightly by 0.6% against the US \ndollar, and by 0.8% against the euro. The implied starting point for the rand is \nR14.94 against the US dollar, compared with R14.88 at the time of the previous \nmeeting. While the rand has benefited from improvements in global sentiment, \ninvestors remain concerned about domestic growth prospects and fiscal risks. \nAlthough GDP growth rebounded to 3.1% in the second quarter, longer term weakness \nin most sectors remains a serious concern. Based on recent short term economic \nindicators for the mining and manufacturing sectors, the third quarter GDP outcome is \nexpected to be weak. Public sector investment has declined, export growth remains \nlow, whereas government and household consumption continue to grow, albeit \nmodestly. \nMPC Statement November 21st, 2019 \nPage 4 \n \nBusiness confidence remains weak. The RMB/BER Business Confidence Index fell to \n21 points (from 28), while the Absa Purchasing Managers’ Index rose to 48.1 points in \nOctober (from 45.1). The SARB’s composite leading business cycle indicator also \ncontinued to trend lower, and the coincident indicator decreased month-on-month \nwhile remaining positive on a year on year basis. \nThe forecast of GDP growth for 2019 is revised lower at 0.5% (from 0.6%). The \nforecasts for 2020 and 2021 have decreased to 1.4% (from 1.5%) and 1.7% (from \n1.8%), respectively, due to lower growth than previously expected in the third and \nfourth quarters and downward revisions to global growth. \nThe MPC assesses the risks to the growth forecast to be to the downside. Escalation \nin global trade tensions, geo-political risks, further domestic supply constraints and/or \nsustained higher oil prices could generate headwinds to growth. Public sector \nfinancing needs have risen, raising the prospect of further pressure on the currency \nand pushing borrowing costs for the broader economy higher. Implementation of \nprudent macroeconomic policies and structural reforms that lower costs and increase \ninvestment, potential growth and job creation, remains urgent. \nThe overall risks to the inflation outlook are assessed to be balanced, but uncertainty \nabout inflation risks is unusually high. Demand side pressures remain subdued and \nhouse rental prices are expected to increase at only moderate rates. Global inflation \nshould also remain low. Food price inflation has continued to surprise to the downside, \nbut rising imported food prices and uncertain domestic weather patterns raise \nuncertainty about the future price trajectory. Further upside risks to the inflation \noutlook include wage growth and fuel, electricity and water prices. The risk of further \nMPC Statement November 21st, 2019 \nPage 5 \n \ncapital flow volatility has also increased, which could put pressure on the exchange \nrate. \nThe MPC welcomes the sustained moderation in inflation outcomes and inflation \nexpectations and would like to see inflation expectations anchored closer to the mid-\npoint of the inflation target range on a sustained basis. \nAgainst this backdrop, the MPC decided to keep the repurchase rate unchanged at \n6.5% per annum. Three members preferred to keep interest rates on hold and two \nmembers preferred a cut of 25 basis points. \nMonetary policy actions will continue to focus on anchoring inflation expectations near \nthe mid-point of the inflation target range in the interest of balanced and sustainable \ngrowth. In this persistently uncertain environment, future policy decisions will continue \nto be highly data-dependent, sensitive to the balance of risks to the outlook, and will \nseek to look-through temporary price shocks. \nThe implied path of policy rates over the forecast period generated by the Quarterly \nProjection Model indicated one repo cut of 25 basis points in the third quarter of 2020. \nThis remains a broad policy guide which could change in either direction from meeting \nto meeting in response to new developments and changing data and risks. \nLesetja Kganyago \nGOVERNOR \n \nThe next statement of the Monetary Policy Committee will be released on \n16 January 2020. \n \nMPC Statement November 21st, 2019 \nPage 6 \n \nMonetary Committee Meetings dates for 2020: \n14 – 16 January \n17 – 19 March \n19 – 21 May \n21 – 23 July \n15 – 17 September \n17 – 19 November \n \nSARB media contact: \nZiyanda Mtshali \n012 399 7966 \nmedia@resbank.co.za", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/November-2019-MPC-statement-FINAL.pdf"}

dedup/cb_requests/25d2da97b7a114b3ad3fca3a44f44f82.json

@@ -0,0 +1 @@
+{"doc_id": "25d2da97b7a114b3ad3fca3a44f44f82", "text": "1 \n \nPUBLIC \n \nBANK OF GHANA \nMONETARY POLICY COMMITTEE \nPRESS RELEASE \n17 September 2025 \n \nGood afternoon, ladies and gentlemen of the press. \n \nThe Monetary Policy Committee (MPC) held its 126th meeting from September 15 – \n17, 2025, to evaluate recent economic developments and assess risks to the outlook \nfor inflation and growth. This briefing summarises the key discussions and the \nCommittee's decision on the monetary policy stance. \n \nContrary to earlier projections of a global economic slowdown, growth has been \nresilient supported by a modest tapering of the tensions associated with the tariff wars, \nrobust exports in the first quarter of the year, easing credit conditions, and fiscal \nexpansion in some Advanced Economies. Against this backdrop, the IMF revised its \nglobal growth projections for 2025 to 3.0 percent, compared with earlier forecast of 2.8 \npercent. This notwithstanding, geopolitical uncertainties, relatively high tariffs and \nprojected decline in global trade could dampen near-term growth prospects. Global \ninflation is expected to decline amid lower food and energy prices, as well as a \nslowdown in employment growth. In addition, global financing conditions have eased \nsomewhat supported by declining policy rates, lower long-term bond yields, and a \nstrong rebound in portfolio flows to emerging market and developing economies. \nCurrent global conditions and uncertainties have led to a strong rebound in gold prices \nwith positive implications for Ghana’s external sector position. \n \nOn the domestic front, the economy continues to demonstrate strong growth, driven \nlargely by the services and agriculture sectors. The latest release from the Ghana \nStatistical Service for the second quarter of 2025 shows the economy posting a real \nGDP growth of 6.3 percent compared with 5.7 percent recorded in the same quarter \nof 2024. Excluding oil, GDP grew at a much faster pace by 7.8 percent relative to 5.7 \npercent over the same comparative period. The services sector grew by 9.9 percent, \nwhile the agriculture sector expanded by 5.2 percent. \n \nThe Bank’s high frequency indicators continue to point to sustained momentum in \neconomic activity. The Composite Index of Economic Activity (CIEA) recorded an \nannual growth of 6.1 percent in July 2025 compared to 1.9 percent in July 2024, on \nthe back of international trade activities, consumption, and industrial production. The \nlatest confidence surveys conducted in August 2025 also reflected sustained \nimprovement in sentiments. Consumer confidence remained strong, despite some \nsoftening of the index, while business confidence further picked up as firms met their \nshort-term targets and expressed optimism about company and industry prospects. \nSimilarly, Ghana’s Purchasing Managers’ Index (PMI) went up in August, signalling \nincrease in new orders as business conditions improved. \n \n \n2 \n \nPUBLIC \nInflation continues to ease and has been broad-based. Headline inflation declined \nfurther to 11.5 percent in August 2025, down from 12.1 percent in July, the lowest \nreading in four years. The sustained decline in inflation for eight consecutive months \nwas largely driven by a combination of factors, including the prudent monetary policy \nstance, strong liquidity management, appreciation of the cedi, fiscal consolidation, and \nimproved food supply. The Bank’s main core inflation measure, which excludes energy \nand utility items, also declined, reflecting continued easing of underlying inflationary \npressures. Similarly, inflation expectations among consumers, businesses, and the \nbanking sector all eased, affirming the disinflation process going forward. \n \nInterest rates are declining on the money market in response to the recent cut in the \nmonetary policy rate. Yields on the money market instruments have declined \nsignificantly and the average lending rates are gradually easing, which should lower \nthe cost of credit in the near-term. The interest equivalent of the 91-day treasury bill \ninstrument eased from 13.4 percent at the end of July 2025 to 10.3 percent at the end \nof August 2025. The average lending rate over the same period went down from 26.6 \npercent to 24.2 percent. \n \nFiscal policy implementation in the year to July 2025 reflected strong consolidation \nefforts underpinned by tight expenditure controls, although revenues fell short of \ntarget. Consequently, the overall fiscal deficit on commitment basis was 1.1 percent \nof GDP, outperforming the target deficit of 2.1 percent of GDP. Also, the fiscal anchor, \nthat is, the primary balance on commitment basis, recorded a surplus of 1.0 percent \nof GDP, reflecting a better outturn than the targeted surplus of 0.5 percent of GDP. \nThe deficit was largely financed from domestic sources. At end-July 2025, the total \npublic debt stood at 44.9 percent of GDP down from 61.8 percent of GDP at end-\nDecember 2024. \n \nThe banking sector recorded strong performance over the first eight months, with \ncontinued asset growth and improved profitability, asset quality, and efficiency \nindicators. The industry’s Capital Adequacy Ratio (CAR), without regulatory reliefs, \nincreased to 17.7 percent in August 2025, from 10.2 percent in August 2024. The \nindustry’s Non-performing Loan (NPL) ratio improved to 20.8 percent compared to \n24.8 percent last year, due to growth in bank credit and contraction in NPL stock. This \nnotwithstanding, elevated credit risk remains a major concern. In the outlook, \nadherence to the recapitalisation plans and full implementation of the Bank’s \nregulatory guidelines to lower NPLs will further enhance resilience of the banking \nsector. \n \nThe external sector strengthened in the first eight months of 2025, with a significant \ntrade surplus of US$6.2 billion, compared to US$2.1 billion recorded during the same \nperiod in 2024. This was driven by a sharp increase in exports earnings, mainly gold \nand cocoa, which far outpaced import growth. The reserve position remained strong \nwith Gross International Reserves at US$10.7 billion (4.5 months of import cover) as \nat end August 2025, compared with US$8.98 billion (4.0 months of import cover) at \nend-December 2024. In the outlook, the external sector is projected to broadly remain \nresilient, anchored on favourable commodity prices and improvement in remittance \ninflows. \n \n \n3 \n \nPUBLIC \nOn the back of the strong external sector performance and increased reserve \naccumulation, the cedi strengthened against the major trading currencies in the year \nto July 2025. Subsequently, the cedi came under some demand pressure, bringing the \ncumulative appreciation through 12 September 2025 to 21.0 percent against the US \ndollar. The cedi remains among the strongest currencies globally year-to-date, \nreflecting \nprudent \nmonetary \npolicy, \neffective \nliquidity \nmanagement, \nfiscal \nconsolidation, and increased foreign exchange inflows. \nGiven the current state of macroeconomic conditions, the view of the Committee was \nthat inflation will continue to ease in the near term. In the outlook, headline inflation is \nexpected to drop to within the medium-term target of 8 ± 2 percent by the end of the \nfourth quarter. However, the possible upward review of utility tariffs could exert some \nprice pressures in the medium term. Notwithstanding this, maintenance of an \nappropriate monetary policy stance, strong sterilisation efforts, ongoing fiscal \nconsolidation, and adequate reserve buffers should sustain the disinflation process. \nGiven these considerations, the Committee, by a majority decision, voted to lower the \nMonetary Policy Rate by 350 basis points to 21.5 percent. The Committee will continue \nto monitor macroeconomic developments and take the appropriate policy decision as \nand when necessary to reinforce the disinflation process. \nAdditional Measure \nThe Net Open Position Limits for banks have been adjusted as follows: \n• Single currency NOP limit is revised from ± 5 percent to between 0 percent \nand –10 percent, effective 1 October 2025. \n \nEND. \n \nInformational Note \nThe next Monetary Policy Committee (MPC) meeting is scheduled for 17 November \n2025. The meeting will conclude on 19 November 2025, with the announcement of the \npolicy decision.", "source": "BOG", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/MPC-Press-Release-September-2025-.pdf"}

dedup/cb_requests/281e1c4f19b70ae2d7ef04c2d58a6015.json

@@ -0,0 +1 @@
+{"doc_id": "281e1c4f19b70ae2d7ef04c2d58a6015", "text": "MONTHLY ECONOMIC REVIEW \nMARCH 2013 \nSelected Economic Indicators \n2 \nStock Market Developments \n3 \nInflation \n6 \nNational Payments System \n7 \nStatistical Tables \n9 \n \n \nMonetary Developments \n4 \nINSIDE THIS ISSUE: \n \nPAGE \nSELECTED ECONOMIC INDICATORS \n2 \n \n2013 \nFebruary \n2013 \nMarch \nZ.S.E. Mining Index1 \n72.01 \n66.21 \nZ.S.E. Industrial Index1 \n182.64 \n183.88 \nMoney Supply (Total Bank Deposits) (US$)2 \n3.81 billion \n3.80 billion \nMoney Supply (M3) Annual Growth2 \n12.91% \n10.47% \nYearly Inflation3 \n2.98% \n2.76% \nSources: \n1 Zimbabwe Stock Exchange \n2 Reserve Bank of Zimbabwe \n3 ZIMSTAT \n \n \n \nSTOCK MARKET DEVELOPMENTS \n \nActivity on the stock market during the \nmonth of March 2013, somewhat lost impe-\ntus due to investors’ profit taking after the \nrally experienced at the beginning of the \nyear . \n \nTrading volumes in March 2013, however, \nrose by 39.4%, from 165.8 million shares in \nthe previous month to 231.1 million shares. \nOver the same period last year, trading vol-\numes were recorded at 190.4 million shares, \nrepresenting a 21.4% increase on a year-on-\nyear basis. \n \nMarket turnover, however, declined to \nUS$37.8 million in March, from US$46 mil-\nlion in February 2013. The decline partly re-\nflects that trading was concentrated on low \nvalue counters. On an annual basis, how-\never, market turnover registered a growth of \n17.4%, from US$33.2 million in March \n2012. \n \nThe industrial index maintained an upward \ntrend, gaining 0.7% to close the month of \nMarch 2013 at 183.88 points. On a year-to-\ndate basis, the industrial index gained 21.5%. \n \nThe mining index continued on a downward \ntrend, on the back of thin trading volumes in \nmining counters. The mining index closed \nthe month under review 8.1% lower, at 66.21 \npoints. On a year-to-date basis, the mining \nindex shed 0.1%. \n \nTotal market capitalization declined by \n0.5%, from US$4.75 billion in February to \n \n2 3 \n60\n80\n100\n120\n140\n160\n180\n200\n03-Jan-12\n03-Feb-12\n03-Mar-12\n03-Apr-12\n03-May-12\n03-Jun-12\n03-Jul-12\n03-Aug-12\n03-Sep-12\n03-Oct-12\n03-Nov-12\n03-Dec-12\n03-Jan-13\n03-Feb-13\n03-Mar-13\nZSE Indices\nIndustrial\nMining\n \n2 4 \nUS$4.73 billion in March 2013. On a year-to\n-date basis, market capitalization, however, \nregistered a gain of 20%. \n \nMONETARY DEVELOPMENTS \n \nAnnual growth in broad money supply fur-\nther declined to 10.47% in March 2013, from \n12.91% in February. In absolute terms, broad \nmoney declined from US$3.8 billion in Feb-\nruary to US$3.79 billion in March 2013. The \nmonthly decline of 0.4% was largely due to a \ndecline in commercial banks’ deposits . \nOver the same period, commercial banks’ \ndeposits with a maturity greater than 30 \ndays, also declined by US$48.1 million. \n \nThe decline in deposits was underpinned by \ndeposit maturities which were not rolled \nover, but instead were withdrawn from the \nbanking system. These declines further \nworsened the critical liquidity situation in \nthe economy. \nDeposits held by banks largely emanated \nfrom utilities and local authorities, 20.4%; \nfinancial organizations, 18.4%; households \n(individuals), 18%; and distribution, 9.3%. \n \nCommercial banks' demand deposits, which \nhave been on a declining path in 2013, fur-\nther decreased between February and March \nby US$14.8 million, to US$1 965 million. \n \n3 5 \nOutstanding credit to the private sector \namounted to US$3 620.4 million, from \nUS$3 574.9 million recorded in February \n2013. The growth in credit to the private \nsector was mainly explained by a 1.6% \nmonthly rise in loans and advances. \n \nFollowing a sustained decline in the deposit \nbase, annual growth in domestic credit also \ncontinued on a downward trend, decelerat-\ning from 34.2% in February to 28.1% in \nMarch 2013. On a month-on-month basis, \ngrowth in domestic credit registered a 1.8% \nincrease, from 0.1% in the previous month. \nLoans and advances increased largely due to \ndemand for credit in manufacturing (17.5%), \nagriculture (17.3%), and distribution (15.9%) \nactivities. Households accounted for 17.5% of \ntotal \nloans \nand \nadvances \nto \nthe private sector. \n \nCredit to the private sector was mainly util-\nized for other asset purchases (39.7%) as well \nas inventory build-up (37.4%). Loans and ad-\nvances utilized for fixed investment activity \nhave remained low, with the procurement of \nplant and equipment accounting for 3% and \npre and post shipment financing at 2.3%, of \ntotal loans and advances. \n \nNet credit to Government registered an in-\ncrease of 11.4% between February and March \n2013. This was largely due to issuance of \nUS$40 \nmillion \nworth \nof \n365-day Treasury Bills, at an interest rate of \n7%. \n \n \nINFLATION DEVELOPMENTS \n \nAnnual Inflation \n \nAnnual headline inflation decelerated to \n2.76% in March 2013, compared to 2.98% in \nFebruary 2013, weighed down by declines in \nboth food and non-food inflation. \nLoans and \nAdvances\n85%\nBills \nDiscounte\nd\n3%\nBankers \nAcceptanc\nes\n2%\nMortgages\n8%\nOther \nInvestment\ns\n2%\nCredit to Private Sector\nTotal credit to the private sector as at the \nend of March 2013 were US$3 620.4 million.\n4 \n \n6 \nAnnual food inflation slowed down to 4.18% \nin March, from 4.67% in February 2013, \nwhile non-food inflation declined from \n2.19% to 2.04% during the same period. \nFood inflation was largely driven by increases \nin prices of bread and cereals, meat, fish and \nvegetables, while annual non-food inflation \nwas underpinned by increases in rentals, \ntransport, education, alcoholic beverages and \ntobacco. \nWhilst increases in rentals have slowed down \nsince January 2013, they continued to be the \nmajor driver of annual non-food inflation \nparticularly in the housing, water, electricity, \ngas and other fuels category. \nThe increase in transport inflation was driven \nby the cost of spare parts, lubricants and ac-\ncessories for personal transport. \nMonth-on-Month Inflation \n \nMonth-on-month inflation stood at 0.21% in \nMarch 2013, down from 0.95% in February \n2013, reflecting the slowdown in the prices \nof both food and non-food items. \nMonthly food inflation fell to 0.32% in \nMarch, from 1.40% in February 2013, \nweighed down by declines in prices of meat, \nmineral waters, soft drinks, fruit and vegeta-\nble juices, fish and sea food. \nThe monthly food inflation was largely ex-\nplained by increases in prices of bread and \ncereals, vegetables, fruits and oils and fats. \nMonthly non-food inflation eased to 0.15% \nin March 2013, from 0.72% in February \n2013, following declines in communication, \neducation, health, restaurants and hotel ser-\nvices. \nIncreases in passenger transport fares, prices \nof furniture and equipment, as well as alco-\nholic beverages and tobacco, largely drove \nmonthly non-food inflation. \n7 \n \nInflation Outlook \nIn the short-term, food inflation is, however, \nexpected to decelerate on account of the an-\nticipated increase in supply during harvesting \nperiod. \nThe general decline in international oil prices \nsince February 2013, if sustained, is antici-\npated to reduce the price of fuel in the do-\nmestic economy. This would generally re-\nlease pressure on inflation, in the outlook \nperiod. \n \nNATIONAL \nPAYMENTS \nSYSTEM \nDEVELOPMENTS \n \nDuring the month of February 2013, there \nwas a significant decrease in the RTGS trans-\nactions in value terms. Other payment plat-\nforms registered mixed developments. \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \nThe value of transactions processed through \nthe RTGS system in March 2013 increased \nby 13% to US$3.33 billion, from US$2.97 \nbillion in February 2013, while the volume \nof transactions registered an increase of 4%, \nfrom 172 thousand to 179 thousand in the \nsame period. \n \nCard Systems \n \n \nThe total value of card based transactions \nrose by 19.9%, from US$260.5 million in \nFebruary to US$312.4 million in March 2013. \n \nMobile and Internet Based Transactions \n \nThe total value of mobile and internet based \ntransactions further decreased by 35.5%, from \nUS$199.3 million recorded in February 2013, \nto US$128.5 million in March 2013. \nCheques \n \nThe total value of cheque transactions in-\ncreased by 176.4%, from US$5.5 million in \nFebruary 2013 to US$15.2 million in March \n2013. \n Reserve Bank of Zimbabwe \nApril 2013 \n8 \n9 \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n1. Monetary Statistics \n \n \n1.1 Monetary Aggregates \n \n \n \n \n \n11 \n \n1.2 Broad Money Survey \n \n \n \n \n \n12 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n13 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n14 \n \n \n2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 15 \n \n2.2 Sectoral Analysis of Merchant Banks Loans and Advances \n16 \n \n2.3 Sectoral Analysis of Merchant Acceptances \n \n \n17 \n \n2.4 Sectoral Analysis of Commercial Banks Deposits \n \n18 \n \n2.5 Sectoral Analysis of Merchant Banks Deposits \n \n19 \n \n3. External Statistics \n \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n20 \n \n4. Interest Rates \n \n \n4.1 Lending Rates \n \n \n \n \n \n \n21 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n22 \n \n5. Inflation \n \n \n5.1 Monthly Inflation \n \n \n \n \n \n23 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n24 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n25 \n \n \n \n \n \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n7. Commercial Banks \n \n \n7.1 Assets \n \n \n \n \n \n \n \n26 \n \n7.2 Liabilities \n \n \n \n \n \n \n27 \n \n8. Accepting Houses \n \n \n8.1 Assets \n \n \n \n \n \n \n \n28 \n \n8.2 Liabilities \n \n \n \n \n \n \n29 \n \n 9. Building Societies \n \n \n9.1 Assets \n \n \n \n \n \n \n \n30 \n \n9.2 Liabilities \n \n \n \n \n \n \n31 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n32 \n \n11. Savings with Financial Institutions \n \n \n \n \n33 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n34 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n35 \n \n10 \n11 \nTABLE 1.1 : MONETARY AGGREGATES \n US$ Thousands \n \n2012 \n2013 \n \nMarch \nApril \nMay \nJune \nJuly \nAugust \nSeptember \nOctober \nNovember \nDecember \nJanuary \nFebruary \nMarch \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nRBZ Demand Deposits \n83.1 \n82.9 \n78.6 \n79.7 \n80.1 \n80.9 \n82.1 \n80.7 \n79.6 \n80.8 \n78.6 \n78.3 \n77.3 \nComm. Banks Dem. Deposits \n1,855,658.6 \n1,833,486.4 \n1,804,232.7 \n1,815,912.3 \n1,875,149.3 \n1,826,752.4 \n1,869,138.7 \n1,894,495.7 \n1,804,260.4 \n1,981,218.7 \n1,924,517.4 \n1,875,465.4 \n1,860,664.0 \nMerchant Banks Dem. Deposits \n70,044.4 \n89,097.4 \n84,715.0 \n136,052.5 \n110,779.0 \n106,955.1 \n102,471.0 \n112,805.6 \n105,260.2 \n108,094.7 \n106,935.2 \n102,797.7 \n104,281.4 \nM1 \n1,925,786.0 \n1,922,666.7 \n1,889,026.3 \n1,952,044.5 \n1,986,008.4 \n1,933,788.4 \n1,971,691.8 \n2,017,382.0 \n1,909,600.2 \n2,089,394.2 \n2,031,531.2 \n1,978,341.4 \n1,965,022.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nComm. Banks Savings Deposits \n154,142.3 \n167,459.3 \n161,039.2 \n160,170.3 \n162,953.0 \n171,279.3 \n189,287.9 \n182,029.0 \n288,914.0 \n253,471.9 \n193,007.6 \n192,683.5 \n201,459.2 \nBuilding Soc. Savings Deposits \n131,003.7 \n133,025.2 \n156,772.0 \n171,972.6 \n168,562.6 \n171,825.0 \n176,983.1 \n164,699.0 \n163,276.1 \n180,152.6 \n159,093.7 \n168,605.4 \n168,484.1 \nP O S B Savings Deposits \n48,916.5 \n46,057.1 \n49,423.7 \n50,001.8 \n51,631.2 \n51,322.2 \n51,747.0 \n50,457.0 \n55,822.7 \n54,893.7 \n55,832.5 \n56,274.2 \n57,860.7 \nComm. Banks U-30 Day Deposits \n471,171.9 \n522,894.7 \n622,619.0 \n706,497.8 \n668,743.8 \n716,241.3 \n648,981.9 \n781,995.1 \n593,873.6 \n613,008.0 \n632,215.7 \n708,500.6 \n734,849.5 \nMerchant Banks U-30 Day Deposits \n126,730.8 \n116,172.0 \n100,355.4 \n91,241.5 \n36,431.8 \n39,907.3 \n60,358.5 \n35,887.6 \n69,265.1 \n67,930.5 \n91,671.2 \n65,975.9 \n62,324.3 \nBuilding Soc. U- 30 Day Deposits \n51,100.0 \n72,310.0 \n77,364.4 \n70,088.7 \n53,684.5 \n59,216.0 \n70,300.4 \n98,536.7 \n73,514.3 \n65,572.4 \n60,885.9 \n77,091.9 \n82,098.1 \nM2 \n2,908,851.1 \n2,980,584.0 \n3,056,599.9 \n3,202,017.2 \n3,128,015.2 \n3,143,579.4 \n3,169,350.6 \n3,320,987.1 \n3,154,266.0 \n3,324,423.3 \n3,224,237.8 \n3,247,472.9 \n3,272,098.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nComm. Banks O-30 Day Deposits \n314,416.2 \n289,006.7 \n347,816.0 \n228,931.5 \n327,819.8 \n192,982.4 \n311,167.7 \n235,566.9 \n424,351.9 \n314,380.7 \n351,356.6 \n297,613.9 \n249,558.5 \nMerchant Banks O-30 Day Deposits \n47,602.1 \n41,942.5 \n66,248.4 \n31,257.6 \n65,758.0 \n64,463.7 \n56,445.3 \n60,561...8 \n46,439.3 \n44,191.4 \n21,339.0 \n55,714.0 \n52,841.7 \nBuilding Soc. O- 30 Day Deposits \n152,203.5 \n125,863.2 \n93,384.4 \n109,663.7 \n156,055.2 \n170,113.2 \n172,761.3 \n165,382.5 \n179,493.1 \n184,561.2 \n192,823.3 \n194,226.7 \n203,912.9 \nBuilding Soc. Class C Deposits \n0.0 \n0.0 \n0.0 \n0.0 \n0.0 \n0.0 \n \n \n \n \n \n \n0.0 \nBuilding Soc. Other Share Deposits \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n10,141.6 \n11,266.6 \nP O S B Time Deposits \n5,404.1 \n6,217.4 \n5,995.0 \n8,259.1 \n9,770.5 \n8,018.0 \n8,316.8 \n11,324.0 \n9,964.9 \n8,973.9 \n8,497.2 \n8,447.9 \n8,845.8 \nM3 \n3,438,618.5 \n3,453,755.3 \n3,580,185.4 \n3,590,270.7 \n3,697,560.4 \n3,589,298.3 \n3,728,183.4 \n3,813,963.8 \n3,824,656.8 \n3,886,672.1 \n3,808,395.5 \n3,813,616.9 \n3,798,524.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n12 \nTABLE 1.2 : BROAD MONEY SURVEY \n US$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nMARCH \nAPRIL \nMAY \nJUNE \nJULY \nAUGUST \nSEPTEMBER \nOCTOBER \nNOVEMBER \nDECEMBER \nJANUARY \nFEBRUARY \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET FOREIGN ASSETS \n-358613.1 \n-330,975.30 \n-372,096.90 \n-375,252.50 \n-366,349.80 \n-459,138.70 \n-447,672.70 \n-417,840.40 \n-340,899.70 \n-435,528.80 \n-485,643.40 \n-478,669.10 \n \n Assets \n1,016,963.80 \n1,049,371.80 \n1,014,946.00 \n1,008,028.90 \n1,010,995.60 \n918,272.00 \n952,305.80 \n964,367.00 \n1,063,411.00 \n1,089,808.50 \n994,812.70 \n988,575.61 \n \n Reserve Bank (RBZ) \n487,204.70 \n510,111.80 \n456,394.50 \n439,248.40 \n443,530.60 \n392,913.30 \n431,019.90 \n402,814.90 \n385,911.70 \n447,988.80 \n454,346.10 \n421,879.25 \n \n Deposit Money Banks (DMBs) \n508,239.40 \n514,286.00 \n531,555.60 \n547,519.30 \n543,103.30 \n497,720.10 \n490,916.00 \n527,291.20 \n635,377.30 \n599,274.60 \n507,151.40 \n529,296.47 \n \n Other Banking Institutions \n(OBIs) \\1 \n21,519.70 \n24,974.00 \n26,996.00 \n21,261.20 \n24,361.70 \n27,638.60 \n30,369.90 \n34,260.90 \n42,122.10 \n42,545.10 \n33,315.20 \n37,399.89 \n \n Liabilities \\2 \n-1,375,576.80 \n-1,380,347.10 \n-1,387,042.90 \n-1,383,281.50 \n-1,377,345.40 \n-1,377,410.80 \n-1,399,978.50 \n-1,382,207.30 \n-1,404,310.70 \n-1,525,337.30 \n-1,480,456.00 \n-1,467,244.71 \n \n RBZ \n1,158,462.90 \n1,157,868.10 \n1,144,411.30 \n1,145,150.60 \n1,142,322.10 \n1,144,176.70 \n1,149,650.90 \n1,147,233.00 \n1,147,319.70 \n1,149,161.20 \n1,149,023.60 \n1,141,623.47 \n \n DMBs \n196,138.80 \n200,681.00 \n220,947.20 \n216,314.50 \n217,204.30 \n216,220.20 \n233,273.50 \n211,042.10 \n233,317.40 \n352,118.40 \n311,214.10 \n303,476.08 \n \n OBIs \n20,975.10 \n21,798.00 \n21,684.40 \n21,816.30 \n17,818.90 \n17,013.80 \n17,054.10 \n23,932.20 \n23,673.70 \n24,057.80 \n20,218.40 \n22,145.17 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET DOMESTIC ASSETS \n3,797,231.60 \n3,784,730.50 \n3,952,282.30 \n3,965,523.20 \n4,063,910.10 \n4,048,437.10 \n4,175,856.10 \n4,231,804.20 \n4,165,556.50 \n4,322,201.00 \n4,294,038.70 \n4,292,286.03 \n \nDOMESTIC CREDIT \n3,002,168.00 \n3,022,182.40 \n3,139,957.20 \n3,227,332.40 \n3,362,641.70 \n3,396,416.20 \n3,469,968.40 \n3,502,649.80 \n3,620,952.20 \n3,788,468.50 \n3,777,967.90 \n3,781,756.54 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Claims on Government (net) \n89,582.80 \n88,583.80 \n78,536.20 \n82,193.20 \n79,337.50 \n73,155.70 \n73,214.80 \n80,219.70 \n80,710.40 \n176,058.40 \n166,842.30 \n153,163.97 \n \n RBZ \n-1,761.70 \n-1,718.70 \n-1,733.00 \n-2,106.20 \n-1,522.60 \n-1,502.40 \n-1,514.60 \n-11,344.70 \n-11,034.80 \n-11,097.80 \n-1,225.80 \n-1,192.38 \n \n DMBs \n91,344.50 \n90,099.00 \n80,045.40 \n84,095.80 \n80,860.20 \n74,658.00 \n74,729.30 \n90,330.70 \n90,511.60 \n185,922.50 \n167,834.50 \n154,122.73 \n \n OBIs \n0 \n203.6 \n223.8 \n203.6 \n0 \n0 \n0 \n1,233.60 \n1,233.60 \n1,233.60 \n233.6 \n233.63 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Claims on Public Enterprises \n29,969.40 \n31,445.00 \n31,792.50 \n49,311.30 \n49,615.70 \n49,289.80 \n46,060.70 \n49,641.40 \n51,464.50 \n51,716.90 \n52,261.10 \n53,708.48 \n \n RBZ \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n \n DMBs \n29,969.40 \n31,445.00 \n31,792.50 \n49,311.30 \n49,615.70 \n49,289.80 \n46,060.70 \n49,641.40 \n51,464.50 \n51,716.90 \n52,261.10 \n53,708.48 \n \n Agri-PEs \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n \n \n Other \n29,969.40 \n31,445.00 \n31,792.50 \n49,311.30 \n49,615.70 \n49,289.80 \n46,060.70 \n49,641.40 \n51,464.50 \n51,716.90 \n52,261.10 \n53,708.48 \n \n OBIs \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Claims on Private Sector \n2,882,615.80 \n2,902,153.60 \n3,029,628.50 \n3,095,827.90 \n3,233,688.50 \n3,273,970.70 \n3,350,693.00 \n3,372,788.70 \n3,488,777.20 \n3,560,693.20 \n3,558,864.50 \n3,574,884.08 \n \n RBZ \n47,708.00 \n44,103.00 \n47,176.70 \n43,759.20 \n38,792.30 \n41,323.60 \n42,548.20 \n42,122.00 \n41,521.50 \n40,636.30 \n41,014.10 \n41,015.10 \n \n DMBs \n2,484,151.40 \n2,513,158.60 \n2,622,165.20 \n2,663,738.30 \n2,797,404.90 \n2,823,945.60 \n2,897,885.30 \n2,890,646.50 \n2,996,259.40 \n3,065,153.80 \n3,057,321.20 \n3,065,133.69 \n \n OBIs \n350,756.40 \n344,891.90 \n360,286.50 \n388,330.30 \n397,491.40 \n408,701.50 \n410,259.50 \n440,020.20 \n450,996.30 \n454,903.20 \n460,529.20 \n468,735.29 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOTHER ITEMS (NET) \n795,063.60 \n762,548.20 \n812,325.10 \n738,190.80 \n701,268.40 \n652,020.90 \n705,887.60 \n729,154.40 \n544,604.30 \n533,732.40 \n516,070.80 \n510,529.50 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nBROAD MONEY (M3) \n3,438,618.50 \n3,453,755.20 \n3,580,185.40 \n3,590,270.70 \n3,697,560.40 \n3,589,298.30 \n3,728,183.40 \n3,813,963.80 \n3,824,656.80 \n3,886,672.10 \n3,808,395.40 \n3,813,616.93 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nMARCH \n \n-627,094.50 \n867,399.60 \n367,092.80 \n469,834.90 \n30,471.90 \n-1,494,494.10 \n1,135,073.40 \n337,091.10 \n22,329.60 \n \n4,425,618.60 \n3,845,110.10 \n \n170,638.10 \n-1,179.60 \n151,543.00 \n20,274.70 \n \n54,091.40 \n0 \n54,091.40 \n0 \n3,620,380.60 \n0 \n \n3,620,380.60 \n41,041.10 \n3,111,948.80 \n467,417.70 \n \n580,508.50 \n \n3,798,524.10 \n \n \n13 \nTABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3) \n US$ Thousands \n1. Finance houses, building societies and P. O. S. B. \n2. Sign reversal. \n3. Net Domestic Assets consist of domestic credit and other items net. \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nMARCH \nAPRIL \nMAY \nJUNE \nJULY \nAUGUST \nSEPTEMBER \nOCTOBER \nNOVEMBER \nDECEMBER \nJANUARY \nFEBRUARY \nMARCH \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET FOREIGN ASSETS \n-288,706.50 \n27,637.80 \n-41,121.60 \n-3,155.70 \n8,902.80 \n-92,789.00 \n11,466.10 \n29,832.30 \n76,940.70 \n-94,629.10 \n-50,114.50 \n6,974.25 \n-148,425.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Assets \n-293,376.60 \n32,408.00 \n-34,425.80 \n-6,917.10 \n2,966.70 \n-92,723.60 \n34,033.80 \n12,061.10 \n99,044.00 \n26,397.50 \n-94,995.80 \n-6,237.07 \n-121,176.0 \n Reserve Bank (RBZ) \n-63,762.50 \n22,907.10 \n-53,717.30 \n-17,146.10 \n4,282.20 \n-50,617.30 \n38,106.70 \n-28,205.00 \n-16,903.20 \n62,077.10 \n6,357.30 \n-32,466.80 \n-54,786.5 \n Deposit Money Banks (DMBs) \n-228,727.20 \n6,046.70 \n17,269.50 \n15,963.80 \n-4,416.00 \n-45,383.20 \n-6,804.10 \n36,375.10 \n108,086.10 \n-36,102.60 \n-92,123.20 \n22,145.09 \n-59,461.6 \n Other Banking Institutions (OBIs) \n\\1 \n-886.8 \n3,454.30 \n2,022.00 \n-5,734.70 \n3,100.50 \n3,276.90 \n2,731.30 \n3,891.00 \n7,861.20 \n423 \n-9,229.80 \n4,084.65 \n-6,928.0 \n Liabilities \\2 \n4,670.10 \n-4,770.30 \n-6,695.80 \n3,761.40 \n5,936.10 \n-65.4 \n-22,567.70 \n17,771.10 \n-22,103.40 \n-121,026.60 \n44,881.30 \n13,211.32 \n-27,249.4 \n RBZ \n-3,172.80 \n-594.8 \n-13,456.80 \n739.3 \n-2,828.50 \n1,854.60 \n5,474.20 \n-2,417.90 \n86.7 \n1,841.50 \n-137.6 \n-7,400.09 \n-6,550.1 \n DMBs \n-1,674.40 \n4,542.10 \n20,266.20 \n-4,632.70 \n889.8 \n-984.1 \n17,053.30 \n-22,231.40 \n22,275.20 \n118,801.00 \n-40,904.20 \n-7,738.03 \n33,615.1 \n OBIs \n177 \n823 \n-113.7 \n131.9 \n-3,997.50 \n-805.1 \n40.3 \n6,878.20 \n-258.6 \n384.1 \n-3,839.40 \n1,926.80 \n184.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET DOMESTIC ASSETS \\3 \n349,757.30 \n-12,501.00 \n167,551.70 \n13,240.90 \n98,386.90 \n-15,473.10 \n127,419.00 \n55,948.10 \n-66,247.70 \n156,644.50 \n-28,162.20 \n-1,752.72 \n133,332.6 \nDOMESTIC CREDIT \n183,729.40 \n20,014.40 \n117,774.80 \n87,375.20 \n135,309.30 \n33,774.50 \n73,552.20 \n32,681.40 \n118,302.40 \n167,516.40 \n-10,500.60 \n3,788.59 \n63,353.6 \n Claims on Government (net) \n91,338.80 \n-999 \n-10,047.60 \n3,657.00 \n-2,855.70 \n-6,181.90 \n59.1 \n7,004.90 \n490.8 \n95,348.00 \n-9,216.10 \n-13,678.34 \n17,474.1 \n RBZ \n-6.7 \n43 \n-14.3 \n-373.2 \n583.5 \n20.3 \n-12.2 \n-9,830.10 \n309.9 \n-63 \n9,872.00 \n33.43 \n12.8 \n DMBs \n91,345.50 \n-1,245.50 \n-10,053.60 \n4,050.40 \n-3,235.60 \n-6,202.10 \n71.3 \n15,601.40 \n180.9 \n95,410.90 \n-18,088.00 \n-13,711.77 \n-2,579.8 \n OBIs \n0 \n203.6 \n20.2 \n-20.2 \n-203.6 \n0 \n0 \n1,233.60 \n0 \n0 \n-1,000.00 \n0.0 \n20,041.1 \n Claims on Public Enterpris \n-14,074.10 \n1,475.60 \n347.5 \n17,518.80 \n304.3 \n-325.8 \n-3,229.10 \n3,580.70 \n1,823.10 \n252.4 \n544.3 \n1,447.33 \n382.9 \n RBZ \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n DMBs \n-14,074.10 \n1,475.60 \n347.5 \n17,518.80 \n304.3 \n-325.8 \n-3,229.10 \n3,580.70 \n18231 \n252.4 \n544.3 \n1,447.33 \n382.9 \n Agri-PEs \n-1 \n-1 \n0 \n0 \n0 \n-4,771.80 \n-4,772.80 \n-4,773.80 \n-4,774.80 \n0 \n0 \n0 \n0 \n Other \n-14,073.10 \n1,476.60 \n347.5 \n17,518.80 \n304.3 \n4,446.00 \n1,543.70 \n8,354.50 \n6,597.90 \n252.4 \n544.3 \n1,447.33 \n382.9 \n OBIs \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0.0 \n0.0 \n Claims on Private Sector \n106,464.70 \n19,537.70 \n127,474.90 \n66,199.40 \n137,860.60 \n40,282.20 \n76,722.30 \n22,095.70 \n115,988.50 \n71,916.00 \n-1,828.70 \n16,019.59 \n45,496.5 \n RBZ \n-695.2 \n-3,605.00 \n3,073.70 \n-3,417.50 \n-4,967.00 \n2,531.30 \n1,224.60 \n-426.2 \n-600.5 \n-885.3 \n377.8 \n1.0 \n-1.0 \n DMBs \n106,314.00 \n29,007.30 \n109,006.50 \n41,573.10 \n133,666.60 \n26,540.70 \n73,939.70 \n-7,238.70 \n105,612.90 \n68,894.30 \n-7,832.60 \n7,812.52 \n46,815.1 \n OBIs \n845.9 \n-5,864.50 \n15,394.60 \n28,043.80 \n9,161.00 \n11,210.10 \n1,558.00 \n29,760.70 \n10,976.10 \n3,906.90 \n5,626.00 \n8,206.07 \n-1,317.5 \nOTHER ITEMS (NET) \n166,027.90 \n-32,515.40 \n49,777.00 \n-74,134.30 \n-36,922.40 \n-49,247.60 \n53,866.80 \n23,266.70 \n-184,550.10 \n-10,871.90 \n-17,661.60 \n-5,541.30 \n69,979.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nBROAD MONEY (M3) \n61,050.80 \n15,136.70 \n126,430.10 \n10,085.30 \n107,289.70 \n-108,262.00 \n138,885.10 \n85,780.40 \n10,692.90 \n62,015.40 \n-78,276.70 \n5,221.54 \n-15,092.8 \nGROWTH RATES \n \n \n \n \n \n \n \n \n \n \n \n \n \n Broad Money (M3) \n1.80% \n0.40% \n3.70% \n0.30% \n3.00% \n-2.90% \n3.90% \n2.30% \n0.30% \n1.60% \n-2.00% \n0.14% \n-0.4% \n Domestic Credit \n6.50% \n0.70% \n3.90% \n2.80% \n4.20% \n1.00% \n2.20% \n0.90% \n3.40% \n4.60% \n-0.30% \n0.10% \n1.7% \n Claims on Private Sector \n3.80% \n0.70% \n4.40% \n2.20% \n4.50% \n1.20% \n2.30% \n0.70% \n3.40% \n2.10% \n-0.10% \n0.45% \n1.3% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nFEBRUARY \nMARCH \nAPRIL \nMAY \nJUNE \nJULY \nAUGUST \nSEPTEMBER \nOCTOBER \nNOVEMBER \nDECEMBER \nJANUARY \nFEBRUARY \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNET FOREIGN ASSETS \n150,031.80 \n-107,880.30 \n-27,421.40 \n-103,677.30 \n-202,674.90 \n-89,936.30 \n-190,761.00 \n-131,411.50 \n-100,210.80 \n-19,830.80 \n-139,041.90 \n-211,017.80 \n-408,762.52 \n Assets \n231,987.30 \n-32,780.10 \n63,059.10 \n4,008.90 \n-129,754.20 \n-42,038.00 \n-142,367.40 \n-71,725.60 \n-81,928.20 \n36,818.40 \n33,821.10 \n-99,644.30 \n-321,764.74 \n Reserve Bank (RBZ) \n74,172.50 \n42,857.60 \n83,610.00 \n20,800.00 \n-95,804.20 \n-5,809.40 \n-77,953.30 \n-5,234.10 \n-34,371.40 \n-34,330.10 \n33,849.90 \n23,562.10 \n-129,087.95 \n Deposit Money Banks (DMBs) \n145,135.60 \n-86,779.10 \n-38,349.10 \n-41,001.10 \n-41,235.80 \n10,917.80 \n-76,767.00 \n-84,133.70 \n-68,113.20 \n53,083.10 \n-22,552.60 \n-134,496.90 \n-207,670.13 \n Other Banking Institutions (OBIs) \n\\1 \n12,679.20 \n11,141.50 \n17,798.20 \n24,210.00 \n7,285.80 \n10,917.80 \n12,352.80 \n17,642.10 \n20,556.40 \n18,065.40 \n22,523.80 \n11,290.50 \n14,993.34 \n Liabilities \\2 \n-81,955.40 \n-75,100.20 \n-90,480.50 \n-107,686.20 \n-72,920.70 \n-47,898.30 \n-48,393.50 \n-59,685.90 \n-18,282.60 \n-56,649.10 \n-172,863.00 \n-111,373.40 \n-86,997.79 \n RBZ \n-2,136.70 \n-10,095.40 \n-14,778.20 \n-22,208.00 \n-23,594.10 \n-28,246.40 \n-27,498.90 \n-21,730.40 \n-33,783.90 \n-20,811.30 \n-2,908.60 \n-9,155.50 \n-20,012.20 \n DMBs \n63,294.00 \n64,220.60 \n83,460.60 \n108,209.80 \n74,698.50 \n78,373.30 \n79,089.80 \n89,568.80 \n53,504.60 \n79,315.30 \n177,406.00 \n121,978.00 \n105,662.89 \n OBIs \n20,798.10 \n20,975.10 \n21,798.00 \n21,684.40 \n21,816.30 \n-2,228.60 \n-3,197.30 \n-8,152.60 \n-1,438.00 \n-1,854.90 \n-1,634.40 \n-1,449.10 \n1,347.09 \nNET DOMESTIC ASSETS \\3 \n769,411.20 \n968,318.40 \n879,760.10 \n950,213.50 \n893,222.20 \n880,494.10 \n827,621.50 \n830,303.80 \n860,964.80 \n755,911.50 \n925,312.70 \n874,388.80 \n844,811.73 \nDOMESTIC CREDIT \n908,726.40 \n985,554.80 \n901,624.20 \n892,017.10 \n842,025.30 \n864,860.40 \n822,357.30 \n802,510.00 \n795,755.70 \n873,159.50 \n990,341.70 \n986,989.40 \n963,317.91 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Claims on Government (net) \n482.6 \n91,868.60 \n91,058.50 \n80,446.20 \n84,027.80 \n81,808.40 \n75,191.50 \n74,845.90 \n82,122.60 \n82,338.10 \n177,893.20 \n168,720.90 \n154,919.99 \n DMBs \n-295.3 \n91,139.30 \n90,099.00 \n80,045.40 \n84,095.80 \n80,860.20 \n74,658.00 \n74,729.30 \n90,330.70 \n90,511.60 \n185,922.50 \n167,834.50 \n154,123.73 \n OBIs \n0 \n0 \n203.6 \n223.8 \n203.6 \n0 \n0 \n0 \n1,233.60 \n1,233.60 \n1,233.60 \n233.6 \n233.625 \n Claims on Public Enterprises \n20,429.30 \n4,194.40 \n5,024.70 \n2,323.80 \n9,520.40 \n5,300.20 \n7,279.80 \n-3,179.60 \n49.8 \n9,427.10 \n6,792.40 \n7,557.90 \n9,664.95 \n RBZ \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n DMBs \n20,429.30 \n4,194.40 \n5,024.70 \n2,323.80 \n9,520.40 \n5,300.20 \n7,279.80 \n-3,179.60 \n49.8 \n9,427.10 \n6,792.40 \n7,557.90 \n9,664.95 \n Agri-PEs \n-2,338.30 \n-2,339.30 \n-252.3 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n Other \n22,767.60 \n6,533.70 \n5,277.00 \n2,323.80 \n9,520.40 \n5,300.20 \n7,279.80 \n-3,179.60 \n49.8 \n9,427.10 \n6,793.40 \n7,557.90 \n9,665.95 \n OBIs \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n Claims on Private Sector \n887,814.40 \n889,491.80 \n805,541.00 \n809,247.00 \n748,477.10 \n777,751.70 \n739,886.00 \n730,843.70 \n713,583.30 \n781,394.30 \n805,656.00 \n810,710.60 \n798,732.97 \n RBZ \n12,750.00 \n10,669.40 \n7,991.30 \n10,864.80 \n3,313.70 \n665 \n1,765.10 \n-9,455.10 \n-9,387.20 \n-3,975.50 \n-3,903.10 \n-5,788.80 \n-7,388.11 \n DMBs \n678,407.60 \n704,828.20 \n648,551.40 \n654,211.80 \n584,559.50 \n616,003.90 \n597,497.20 \n617,287.40 \n574,157.10 \n654,515.10 \n687,696.60 \n691,818.10 \n687,296.33 \n OBIs \n196,656.80 \n173,994.20 \n148,998.40 \n144,170.40 \n160,603.90 \n161,082.90 \n140,623.70 \n123,011.40 \n148,813.50 \n130,854.70 \n121,862.50 \n124,681.30 \n118,824.75 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOTHER ITEMS (NET) \n-139,315.20 \n-17,236.40 \n-21,864.10 \n58,196.40 \n51,196.90 \n15,633.70 \n5,264.20 \n27,793.80 \n65,209.10 \n-117,248.00 \n-65,029.00 \n-112,600.70 \n-118,506.18 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nBROAD MONEY (M3) \n919,443.00 \n860,438.10 \n852,338.70 \n846,536.20 \n690,547.40 \n790,557.90 \n636,860.50 \n698,892.30 \n760,753.90 \n736,080.70 \n786,270.80 \n663,371.00 \n436,049.20 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nGROWTH RATES \n \n \n \n \n \n \n \n \n \n \n \n \n \n Broad Money (M3) \n37.40% \n33.40% \n32.80% \n31.00% \n23.80% \n27.20% \n21.60% \n23.10% \n24.90% \n23.80% \n25.40% \n21.10% \n12.91% \n Domestic Credit \n47.60% \n48.90% \n42.50% \n39.70% \n35.30% \n34.60% \n31.90% \n30.10% \n29.40% \n31.80% \n35.40% \n35.40% \n34.18% \n Claims on Private Sector \n47.00% \n44.60% \n38.40% \n36.40% \n31.90% \n31.70% \n29.20% \n27.90% \n26.80% \n28.90% \n29.20% \n29.50% \n28.77% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nMARCH \n \n \n-268,481.4 \n-149,564.2 \n-120,111.9 \n-38,404.5 \n8,952.2 \n-118,917.3 \n-23,389.5 \n140,952.3 \n1,354.5 \n628,387.0 \n842,942.1 \n \n81,055.3 \n60,198.4 \n20,274.7 \n24,274.7 \n0.0 \n24,122.0 \n-1.0 \n24,123.0 \n0.0 \n737,764.8 \n-6,693.9 \n627,797.4 \n116,661.3 \n \n-214,555.1 \n \n359,905.6 \n \n \n10.5% \n28.1% \n25.6% \n \n \nTABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3) \n \n \n \n \n$ Thousands \n \n \n \n \n14 \n15 \nTABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nCONSTRUCTION \nCOMMUNICA-\nTION \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL \nMANUFAC-\nTURING \nMINING \nSERVICES \nTRANSPORT \nINDIVIDUALS \nCONGLOMER-\nATES/1 \nTOTAL \nEND OF \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n363,990.9 \n39,589.6 \n27,332.8 \n322,510.1 \n8,749.9 \n74,636.2 \n336,196.7 \n77,655.7 \n198,437.3 \n52,515.7 \n171,956.3 \n1,013.2 \n1,674,584.5 \nFEBRUARY \n352,190.20 \n36,718.69 \n26,551.03 \n284,567.87 \n9,291.08 \n85,886.99 \n336,261.49 \n88,738.25 \n202,845.20 \n53,191.93 \n172,424.01 \n1,567.65 \n1,650,234.17 \nMARCH \n354,440.8 \n37,811.0 \n31,484.9 \n328,381.1 \n8,193.5 \n92,178.6 \n324,375.5 \n108,000.1 \n205,453.7 \n32,088.9 \n174,479.6 \n1,583.8 \n1,698,471.4 \nAPRIL \n341,893.5 \n30,462.0 \n33,633.8 \n358,038.0 \n5,558.5 \n78,498.4 \n334,699.5 \n110,765.7 \n220,956.5 \n26,181.8 \n179,845.8 \n1,355.3 \n1,721,888.8 \nMAY \n375,541.0 \n30,286.7 \n31,158.4 \n350,097.9 \n7,623.4 \n97,695.7 \n327,187.7 \n113,796.7 \n207,041.1 \n28,432.9 \n202,146.6 \n1,738.3 \n1,772,746.5 \nJUNE \n402,314.1 \n30,399.7 \n37,466.6 \n356,842.2 \n7,580.8 \n28,025.9 \n337,059.2 \n130,973.8 \n201,898.0 \n40,295.4 \n219,606.7 \n1,649.8 \n1,794,112.2 \nJULY \n416,536.2 \n26,795.9 \n36,424.2 \n369,410.8 \n8,174.0 \n26,119.1 \n348,484.2 \n136,934.2 \n203,314.6 \n36,869.5 \n249,542.8 \n3,382.6 \n1,861,988.0 \nAUGUST \n422,545.8 \n30,950.3 \n43,395.1 \n390,558.4 \n8,333.0 \n29,323.9 \n348,252.0 \n146,338.5 \n173,945.4 \n55,950.3 \n254,919.8 \n3,523.5 \n1,907,991.4 \nSEPTEMBER \n431,501.7 \n36,637.9 \n38,487.8 \n384,840.8 \n6,828.2 \n37,420.1 \n396,813.5 \n145,657.9 \n219,452.1 \n29,378.2 \n254,248.3 \n5,036.1 \n1,986,302.5 \nOCTOBER \n444,653.7 \n33,583.2 \n34,764.4 \n411,489.2 \n9,551.4 \n29,439.4 \n401,206.1 \n144,223.4 \n230,809.2 \n35,103.6 \n271,795.8 \n6,715.9 \n2,053,335.2 \nNOVEMBER \n444,527.3 \n33,548.0 \n37,207.3 \n428,008.3 \n10,704.6 \n32,236.2 \n417,838.2 \n142,715.0 \n228,088.4 \n36,568.0 \n267,282.0 \n8,055.2 \n2,087,778.7 \nDECEMBER \n444,341.0 \n32,622.8 \n37,353.2 \n428,782.2 \n8,513.2 \n31,513.9 \n414,044.9 \n148,927.9 \n233,864.4 \n33,116.1 \n288,628.5 \n9,370.9 \n2,111,078.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n450,170.0 \n31,073.4 \n38,762.3 \n426,050.9 \n11,967.9 \n31,547.4 \n417,961.3 \n144,645.1 \n237,323.7 \n33,906.5 \n300,841.1 \n9,373.1 \n2,133,622.7 \nFREBRUARY \n494,536.6 \n33,786.9 \n28,372.0 \n439,556.7 \n14,811.4 \n33,948.5 \n409,692.7 \n128,242.7 \n303,269.9 \n38,235.9 \n298,171.5 \n3,685.5 \n2,226,310.2 \nMARCH \n467,873.97 \n41,532.7 \n68,987.2 \n433,337.1 \n16,118.8 \n34,704.7 \n471,204.9 \n159,925.7 \n307,134.7 \n44,413.57 \n370,123.5 \n4,491.7 \n2,419,848.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n1. These are large corporation with business operations covering across a number of sectors. \nTABLE 2.2 :SECTORAL ANALYSIS OF MERCHANT BANKS LOANS AND ADVANCES \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nCONSTRUCTION DISTRIBUTION \nFINANCIAL \nFINANCIAL \nMANUFACTUR-\nING \nMINING \nSERVICES TRANSPORT INDIVIDUALS CONGLOM-\nERATES \nTOTAL \nEND OF \n \n \n \nINVESTMENT ORGANISATIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n35,376.1 \n10,738.7 \n47,937.8 \n17,312.5 \n50,388.0 \n66,466.5 \n39,965.4 \n84,903.2 \n26,657.0 \n71,065.7 \n2,342.2 \n453,153.1 \nFEBRUARY \n34,059.98 \n13,041.24 \n52,903.21 \n13,996.58 \n16,604.58 \n63,567.90 \n54,375.98 \n102,197.29 \n38,026,78 \n79,721.89 \n4,643.07 \n473,138.5 \nMARCH \n39,424.8 \n9 774.0 \n61,447.5 \n17,975.5 \n16,996.3 \n58,655.1 \n41,242.3 \n105,237.4 \n24,714.2 \n78,820.4 \n12,938.4 \n467,225.9 \nAPRIL \n43,485.3 \n10,392.5 \n61,081.2 \n19,067.3 \n19,238.3 \n57,209.2 \n43,704.5 \n106,196.8 \n36,968.1 \n84,346.1 \n4,839.5 \n486,528.7 \nMAY \n78,656.9 \n13,181.3 \n27,476.1 \n12,928.2 \n22,947.0 \n62,231.5 \n79,196.3 \n74,699.3 \n47,191.6 \n115,625.4 \n8,319.3 \n542,453.4 \nJUNE \n99,949.6 \n12,989.0 \n55,552.6 \n15,544.8 \n22,884.4 \n64,832.4 \n58,599.9 \n91,171.3 \n33,744.2 \n125,204.9 \n7,515.8 \n587,988.8 \nJULY \n57,212.2 \n15,008.9 \n28,053.9 \n25,999.1 \n48,343.1 \n66,151.0 \n76,442.2 \n92,251.0 \n46,904.3 \n111,009.8 \n4,461.3 \n571,836.8 \nAUGUST \n49,200.5 \n14,198.6 \n38,216.6 \n26,733.6 \n27,.22.2 \n54,208.9 \n65,862.8 \n65,893.7 \n44,173.3 \n114,603.8 \n7,371.6 \n507,485.6 \nSEPTEMBER \n57,953.8 \n14,365.5 \n37,230.9 \n27,211.1 \n27,365.5 \n54,699.3 \n67,007.8 \n69,196.8 \n43,515.1 \n119,899.9 \n7,225.4 \n525,670.8 \nOCTOBER \n62,501.8 \n15,369.1 \n50,322.8 \n13,991.3 \n43,176.3 \n76,085.7 \n 84,137.4 \n74,481.1 \n36,442.3 \n 159,860.1 \n7,139.6 \n 623,507.5 \nNOVEMBER \n79,498.6 \n17,399.0 \n51,214.2 \n37,028.4 \n41,525.2 \n68,737.1 \n65,831.1 \n81,757.5 \n41,273.6 \n165,811.3 \n8,614.2 \n658,690.2 \nDECEMBER \n69,626.60 \n17,100.57 \n61,871.18 \n35,218.31 \n38,605.14 \n76,364.84 \n79,801.05 \n85,485.21 \n45,026.61 \n166,500.19 \n8,482.65 \n684,082.4 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n67,517.6 \n16,163.5 \n56,807.8 \n18,616.7 \n58,326.4 \n78,419.6 \n89,890.9 \n106,553.9 \n18,590.6 \n144,497.3 \n15,986.5 \n671,370.7 \nFEBRUARY \n58,292.9 \n21,826.4 \n56,104.4 \n18,101.2 \n62,883.5 \n78,714.5 \n89,292.0 \n117,785.5 \n17,680.2 \n128,827.9 \n9,967.9 \n668,578.1 \nMARCH \n69,856.5 \n16,673.4 \n60,104.1 \n16,684.4 \n58,510.5 \n72,517.4 \n97,158.1 \n88,814.4 \n14,831.7 \n173,486.3 \n17,657.4 \n686,294.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n16 \n17 \nTABLE 2.3 :SECTORAL ANALYSIS OF MERCHANT BANKS ACCEPTANCES \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nDISTRIBUTION \nFINANCIAL \nFINANCIAL \nMANUFACTURING \nMINING \nSERVICES \nTRANSPORT \nINDIVIDUALS \nCONGLOMERATES \nTOTAL \nEND OF \n \n \nINVESTMENT ORGANISATIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n15,494.8 \n1,897.5 \n0.0 \n479,6 \n31,053.3 \n31,756.6 \n20,082.4 \n0.0 \n1,516.1 \n3,623.5 \n105,903.9 \n FEBRUARY \n 16,359.6 \n483.9 \n0.0 \n734.6 \n32,663.4 \n15,907.7 \n5,112.6 \n0.0 \n301.8 \n0.0 \n71,563.6 \nMARCH \n15,328.4 \n4,816.6 \n0.0 \n734.6 \n33,053.5 \n22,330.2 \n3,206.4 \n0.0 \n301.8 \n0.0 \n75,436.7 \nAPRIL \n7,793.4 \n831.6 \n0.0 \n180.6 \n19,825.5 \n23,032.0 \n12,462.5 \n102.0 \n189.3 \n0.0 \n69,482.2 \nMAY \n0.0 \n0.0 \n0.0 \n2,055.8 \n14,431.9 \n15,786.1 \n17,666.6 \n589.7 \n2,850.8 \n836.1 \n54,217..1 \nJUNE \n1,031.1 \n1,011.3 \n0.0 \n1,875.2 \n13,904.0 \n21,823.7 \n16,562.2 \n0.0 \n189.3 \n836.1 \n57,233.0 \nJULY \n125.6 \n0.0 \n0.0 \n0.0 \n7,054.0 \n19,331.9 \n14,121.2 \n1,533.9 \n0.0 \n0.0 \n42,166.6 \nAUGUST \n0.0 \n913.3 \n0.0 \n0.0 \n13,898.0 \n13,694.7 \n18,347.2 \n0.0 \n0.0 \n0.0 \n46,853.3 \nSEPTEMBER \n0.0 \n11,242.5 \n0.0 \n0.0 \n12,193.0 \n15,228.3 \n3,969.9 \n0.0 \n0.0 \n0.0 \n42,633.7 \nOCTOBER \n0.0 \n1,135.0 \n0.0 \n0.0 \n2,134.9 \n28,261.6 \n204.0 \n0.0 \n0.0 \n0.0 \n31,735.5 \nNOVEMBER \n8,373.2 \n3,045.0 \n11,889.0 \n0.0 \n0.0 \n0.0 \n0.0 \n0.0 \n11,190.4 \n0.0 \n34,497.7 \nDECEMBER \n6,559.3 \n1,430.0 \n14,889.0 \n0.0 \n0.0 \n0.0 \n0.0 \n0.0 \n11,190.4 \n70.0 \n34,138.7 \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n70.0 \n0.0 \n0.0 \n0.0 \n3,641.0 \n18,088.3 \n1,189.0 \n11,190.4 \n0.0 \n0.0 \n34,178.7 \nFEBRUARY \n100.0 \n0.0 \n0.0 \n0.0 \n8,000.0 \n14,889.0 \n1,569.0 \n0.0 \n0.0 \n0.0 \n24,558.3 \n \n \n \n \n \n \n \n \n \n \n \n \nMARCH \n70.0 \n0.0 \n0.0 \n0.0 \n7,860.0 \n0.0 \n154.0 \n0.0 \n15,400.0 \n0.0 \n23,484.0 \n18 \n TABLE 2.4 : SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nEND OF \nAGRICUL-\nTURE \nCONSTRUC-\nTION \nCOMMUNI-\nCATIONS \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL MANUFACTUR-\nING \nMINING \nSERVICES TRANSPORT \nINDIVIDUALS \nCONGLOMERATES \nTOTAL \n \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n137,919.4 \n35,324.8 \n106,812.5 \n296,807.8 \n116,945.8 \n277,304.7 \n268,525.2 \n119,278.5 \n515,754.9 \n21,989.9 \n431,208.6 \n14,582.8 \n2,342,454.9 \n FEBRUARY \n132,404.53 \n36,283.33 \n110,794.26 \n341,462.75 \n99,165.46 \n288,834.34 \n264,450.53 \n104,923.38 \n577,378.61 \n22,873.9 \n467,084.94 \n14,234.06 \n2,459,890.1 \nMARCH \n121,233.1 \n38,555.4 \n124,038.5 \n348,687.2 \n93,320.0 \n263’552.7 \n276,941.5 \n76,084.4 \n629,624.3 \n24,984.1 \n468,608.5 \n14,756.2 \n2,480,386.1 \nAPRIL \n127,168.8 \n39,606.6 \n115,033.7 \n331,306.5 \n83,707.8 \n289,829.1 \n276,208.7 \n75,855.9 \n644,979.8 \n24,822.5 \n465,129 \n14,829.3 \n2,488,477.6 \nMAY \n124,277.7 \n43,333.7 \n142,130.1 \n370,561.1 \n93,500.0 \n249,454.2 \n299,116.6 \n86,314.7 \n648,511.1 \n28,279.3 \n516,523.0 \n16,891.5 \n2,618,892.9 \nJUNE \n84,589.8 \n51,354.0 \n132,428.7 \n351,179.8 \n98,785.6 \n375,613.6 \n214,696.7 \n76,370.1 \n727,955.7 \n36,208.4 \n456,454.4 \n18,727.6 \n2,624,364.4 \nJULY \n106,470.8 \n47,401.0 \n131,489.0 \n345,036.3 \n70,487,9 \n397,969.7 \n213,370.5 \n89,915.4 \n726,447.6 \n46,000.4 \n505,054.1 \n29,735.3 \n2,709,378.0 \nAUGUST \n99,151.6 \n49,226.4 \n116,820.6 \n363,080.1 \n382,619.4 \n71,775.9 \n216,433.0 \n73,978.5 \n737,065.6 \n48,183.8 \n488,183.8 \n28,785.3 \n2,663,379.8 \nSEPTEMBER \n113,907.6 \n43,671.0 \n125,801.3 \n276,363.0 \n177,790.6 \n429,596.7 \n228,342.2 \n82,777.7 \n651,389.2 \n48,764.9 \n517,788.8 \n29,019.9 \n2,725,213.0 \nOCTOBER \n101,122.4 \n48,716.9 \n155,798.3 \n313,982.4 \n257,300.6 \n409,730.0 \n245,131.8 \n83,995.5 \n661,217.2 \n48,396.8 \n534,643.6 \n26,158.0 \n2,886,193.5 \nNOVEMBER \n104,695.1 \n53,233.8 \n151,359.5 \n348,390.4 \n185,802.5 \n464,782.4 \n269,513.8 \n85,906.9 \n962,840.9 \n47,647.2 \n548,847.7 \n23,130.6 \n3,246,150.7 \nDECEMBER \n96,098.4 \n50,492.7 \n126,343.5 \n379,068.0 \n198,323.3 \n509,241.6 \n280,975.4 \n95,457.1 \n582,286.2 \n41,852.2 \n538,135.2 \n26,491.3 \n2,924,764.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n91,648.8 \n48,329.1 \n128,426.0 \n351,566.7 \n212,401.7 \n494,823.6 \n252,389.7 \n93,470.0 \n658,260.1 \n44,091.4 \n512,289.8 \n32,145.9 \n2,919,842.6 \nFEBRUARY \n96,796.5 \n48,491.5 \n147,571.5 \n360,757.9 \n 147,995.9 \n 578,306.4 \n284,603.8 \n64,530.5 \n679,554.8 \n41,983.6 \n516,431.2 \n25,275.3 \n2,991.999.1 \nMARCH \n96,752.8 \n44,883.3 \n139,327.8 \n354,627.8 \n155,915.2 \n610,758.4 \n290,072.8 \n87,143.0 \n594,397.7 \n38,345.5 \n523,913.8 \n141,404.6 \n3,077,542.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n19 \n TABLE 2.5 : SECTORAL ANALYSIS OF MERCHANT BANKS DEPOSITS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICUL-\nTURE \nCOMMUNICA-\nTIONS \nCONSTRUC-\nTION \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL MANUFACTUR-\nING \nMINING \nSERVICES \nTRANSPORT \nINDIVIDUALS \nCONGLOMER-\nATES \nTOTAL \nEND OF \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11,744.1 \n8,250.4 \n7.1 \n3,238.1 \n129,742.5 \n80,306.4 \n17,664.5 \n9,146.5 \n158,059.3 \n1,650.5 \n113,108.8 \n3,038.0 \n535,956.3 \nFEBRUARY \n14,684.8 \n5,815.5 \n6.8 \n23,523.2 \n131,181.2 \n95,143.4 \n21,911.4 \n22,184.5 \n131,968.5 \n1,350.6 \n149,680.8 \n3,038.0 \n600,488.7 \n MARCH \n 46,519.8 \n 5,039.7 \n1,662.6 \n4,119.3 \n127,903.5 \n 91,695.5 \n 17,886.8 \n 39,142.1 \n143,818.6 \n 4,669.7 \n 83,525.1 \n28,564.2 \n594,546.8 \nAPRIL \n24,233.2 \n8,046.5 \n1,868.8 \n27,036.4 \n121,160.1 \n109,064.2 \n36,456.3 \n30,240.9 \n151,505.2 \n4,892.5 \n75,547.7 \n29,200.4 \n619,252.1 \nMAY \n10,329.7 \n6,452.6 \n1,765.0 \n12,678.2 \n115,998.5 \n103,213.2 \n35,266.7 \n25,989.8 \n183,915.3 \n6,141.2 \n63,313.3 \n39,110.5 \n604,173.9 \nJUNE \n10,271.8 \n7,330.0 \n1,698.4 \n9,186.1 \n134,312.0 \n129,103.5 \n26,823.0 \n22,693.9 \n173,514.3 \n4,286.6 \n62,007.9 \n30,818.9 \n612,046.3 \nJULY \n4,473.9 \n5,298.2 \n270.1 \n27,217.9 \n132,809.8 \n98,744.9 \n30,365.9 \n21,415.7 \n217,331.4 \n2,077.4 \n57,143.0 \n33,601.7 \n630,749.9 \nAUGUST \n6,744.1 \n6,765.6 \n288.6 \n26,394.2 \n123,569.3 \n83,662.1 \n33,578.1 \n18,015.7 \n222,325.8 \n2,979.2 \n92,733.9 \n33,058.9 \n650,115.6 \nSEPTEMBER \n16,997.7 \n8,628.2 \n300.8 \n27,315.7 \n124,411.1 \n85,232.7 \n50,279.5 \n27,896.5 \n208,113.3 \n2,000.9 \n85,429.2 \n34,840.8 \n671,446.4 \nOCTOBER \n4,473.9 \n5,298.2 \n270.1 \n3,119.1 \n124,342.3 \n115,774.8 \n30,524.5 \n21,415.7 \n191,204.2 \n2,077.4 \n153,329.1 \n32,049.8 \n683,879.0 \nNOVEMBER \n12,872.8 \n10,868.0 \n13,414.5 \n1,649.6 \n174,107.7 \n60,405.7 \n18,484.7 \n35,828.3 \n188,441.9 \n4,251.7 \n203,879.7 \n27,745.0 \n751,949.6 \nDECEMBER \n12,164.3 \n5,900.3 \n14,197.9 \n3,080.8 \n173,009.4 \n60,501.2 \n17,631.4 \n137,537.4 \n198,977.5 \n2,664.8 \n79,504.3 \n32,534.7 \n737,703.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11,723.2 \n6,581.0 \n10,921.0 \n751.4 \n180,889.6 \n64,042.8 \n16,845.3 \n28,513.2 \n215,563.4 \n2,547.7 \n113,832.1 \n34,578.4 \n686,789.2 \nFEBRUARY \n10,020.1 \n7,034.4 \n11,383.1 \n1,419.4 \n196,108.5 \n51,751.6 \n16,973.1 \n28,365.1 \n187,610.2 \n6,432.7 \n70,211.6 \n34,798.8 \n622,108.3 \n MARCH \n58,914.7 \n8,588.1 \n7,605.8 \n1,590.7 \n142,308.7 \n90,728.3 \n28,015.0 \n25,273.9 \n185,705.5 \n1,965.0 \n164,230.8 \n29,295.2 \n744,221.5 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n20 \nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS BUT EXCLUDING PENALTIES) \n \n \n \n \n \n \n \n \n \n \n \n \nEnd Period \n2001 \n2002 \n2003 \n2004 \n2005 \n2006 \n2007 \n2008 \n2009 \n2010 \n2011 \n(US$ millions) \n \n \n \n \n \n \n \n \n \n \n \nLong-Term External Debt \n3,255 \n3,327 \n3,644 \n3,927 \n3,805 \n3,965 \n4,032 \n4,464 \n4,339 \n5,631 \n6,124 \n \n \n \n \n \n \n \n \n \n \n \n \nGovernment \n2,328 \n2,376 \n2,617 \n2,844 \n2,895 \n3,024 \n3,054 \n3,464 \n3,317 \n4,115 \n4,527 \nBilateral Creditors \n1,115 \n1,107 \n1,255 \n1,455 \n1,438 \n1,520 \n1,520 \n1,863 \n1,716 \n2,586 \n2,597 \nMultilateral Creditors \n1,213 \n1,269 \n1,362 \n1,389 \n1,457 \n1,504 \n1,524 \n1,592 \n1,591 \n1,519 \n1,931 \nPrivate Creditors \n0 \n0 \n0 \n0 \n0 \n0 \n10 \n10 \n10 \n10 \n0 \n \n \n \n \n \n \n \n \n \n \n \n \nPublic Enterprises \n568 \n616 \n698 \n714 \n709 \n766 \n790 \n825 \n825 \n825 \n1092 \nBilateral Creditors \n315 \n351 \n403 \n442 \n439 \n464 \n474 \n497 \n497 \n497 \n711 \nMultilateral Creditors \n253 \n265 \n295 \n272 \n270 \n302 \n316 \n327 \n327 \n327 \n327 \nPrivate Creditors \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n \n \n \n \n \n \n \n \n \n \n \n \nMonetary Authorities \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n550 \n138 \nMultilateral Creditors - IMF \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n550 \n138 \n \n \n \n \n \n \n \n \n \n \n \n \nPrivate \n67 \n56 \n41 \n78 \n57 \n45 \n51 \n35 \n57 \n142 \n366 \n \n \n \n \n \n \n \n \n \n \n \n \nShort-Term External Debt \n167 \n183 \n169 \n144 \n173 \n281 \n387 \n226 \n1,348 \n2,040 \n1,971 \nSupplier's Credits \n13 \n26 \n51 \n69 \n107 \n122 \n178 \n41 \n193 \n286 \n134 \nReserve Bank \n \n \n \n \n \n \n \n \n998 \n1300 \n1300 \nPrivate \n154 \n157 \n118 \n75 \n66 \n159 \n209 \n185 \n156 \n454 \n537 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nTotal External Debt/1 \n3,422 \n3,510 \n3,812 \n4,071 \n3,978 \n4,246 \n4,607 \n4,690 \n5,687 \n7,692 \n8,095 \n \n \n \n \n \n \n \n \n \n \n \n \nGross Domestic Product \n10,887 \n6,715 \n5,037 \n4,299 \n2,918 \n6,645 \n4,000 \n3,175 \n5,836 \n7,433 \n8,865 \nExternal Debt / GDP \n31.4% \n52.3% \n75.7% \n94.7% \n136.3% \n63.9% \n110.5% \n147.7% \n97.4% \n103.20% \n91.30% \n/1 Total external debt excludes penalties \n \n \n \n \n \n \n \n \n \n \n \nSOURCE: Ministry of Finance and \n \n \n \n \n \n \n \n \n \n \n \n21 \nTABLE 4.1 LENDING RATES (percent per annum)1 \n \nCommercial Banks \nMerchant Banks \n \n \n \n \nWeighted Average Lending \nRates3 \n \nWeighted Average Lending \nRates3 \n \n \nEnd Period \nNominal \nLending \nRates2 \nIndividuals \nCorporate \nNominal \nLending \nRates2 \nIndividuals \nCorporate \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \nMar \n8.00-30.00 \n16.04 \n12.53 \n14.00-35.00 \n18.17 \n13.26 \n \n \nApr \n8.00-30.00 \n15.00 \n13.06 \n13.00-25.00 \n18.37 \n16.36 \n \n \nMay \n6.00-30.00 \n14.98 \n11.86 \n15.00-30.00 \n15.78 \n14.47 \n \n \nJun \n6.00-35.00 \n13.81 \n11.58 \n15.00-30.00 \n17.86 \n14.05 \n \n \nJul \n6.00-35.00 \n14.32 \n10.88 \n15.00-30.00 \n17.92 \n13.93 \n \n \nAug \n6.00-35.00 \n15.65 \n10.74 \n15.00-30.00 \n17.94 \n13.95 \n \n \nSep \n6.00-35.00 \n13.25 \n11.14 \n15.00-30.00 \n17.98 \n13.92 \n \n \nOct \n6.00-35.00 \n13.35 \n11.03 \n13.00-30.00 \n17.98 \n13.95 \n \n \nNov \n6.00-35.00 \n15.25 \n10.88 \n13.00-25.00 \n17.91 \n14.42 \n \n \nFeb \n10.00-35.00 \n14.83 \n10.53 \n13.00-25.00 \n17.93 \n14.36 \n \n \n \n \n \n \n \n \n \n \n \nNotes \n \n \n \n \n \n \n \n \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n \n2. Nominal Lending Rates depict the range of rates quoted by banks. \n \n \n \n \n3. Lending rates exclude rates on staff loans. \nDec \n10.00-35.00 \n15.08 \n10.40 \n15.00-25.00 \n17.93 \n14.43 \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \nJan \n10.00-35.00 \n15.58 \n10.81 \n13.00-25.00 \n17.96 \n14.42 \n \n \n \n \n \n \n \n \n \n \n \nMar \n6.00-35.00 \n14.32 \n10.19 \n14.00-25.00 \n17.80 \n14.35 \n \n \n22 \nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)1 \n \n \n \n \n \n \n \n \n \nCOMMERCIAL BANKS \nACCEPTING HOUSES \n \n \n \n \n \n \n \n \n \n \n \n \nEND OF \nSAVINGS \n3 MONTHS \n3 MONTHS \n \n \n \n \n \n \n \n \n2011 \n \n \n \n \n \n \n \nJANUARY \n0.05-2.00 \n0.50-18.00 \n10.00-17.00 \nFEBRUARY \n0.05-2.00 \n0.50-18.00 \n10.00-17.00 \nMARCH \n0.05-2.00 \n0.50-16.00 \n10.00-17.00 \nAPRIL \n0.35-6.00 \n0.15-17.00 \n10.00-17.00 \nMAY \n0.30-5.00 \n0.15-17.00 \n10.00-17.00 \nJUNE \n0.15-5.00 \n0.15-17.00 \n10.00-17.00 \nJULY \n0.15-5.00 \n0.10-17.00 \n10.00-17.00 \nAUGUST \n0.15-5.00 \n0.10-17.00 \n11.00-17.00 \nSEPTEMBER \n0.15-5.00 \n0.10-17.00 \n10.00-17.00 \nOCTOBER \n0.15-5.00 \n0.10-17.00 \n10.00-17.00 \nNOVEMBER \n0.15-5.00 \n0.10-17.00 \n10.00-17.00 \nDECEMBER \n0.15-5.00 \n0.10-18.00 \n10.00-17.00 \n \n \n \n \n20122 \n \n \n \n \n \n \n \nJANUARY \n0.15-5.00 \n5.00-18.00 \n10.00-17.00 \nFEBRUARY \n0.15-5.00 \n5.00-18.00 \n10.00-17.00 \nMARCH \n0.01-12.00 \n5.00-20.00 \n7.00-17.00 \nAPRIL \n0.00-12.00 \n5.00-20.00 \n8.00-17.00 \nMAY \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nFEBRUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \n \n \n \n \n1. \nThe range of rates qouted by banks during the period. \n2. \nThree (3) months deposit rates revised to exclude rates on inactive or dormant \naccounts. \n \n \nJUNE \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nJULY \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nAUGUST \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nSEPTEMBER \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nOCTOBER \n0.00-12.00 \n5.00-20.00 \n6.00-17.00 \nNOVEMBER \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nDECEMBER \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \n2013 \n \n \n \n \n \n \n \nJANUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \n \n \n \n \nMARCH \n0.15-8.00 \n4.00-20.00 \n8.00-12.00 \n23 \nTABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1 \n( DECEMBER 2012 = 100) \n1. Source: ZIMSTATS. To reflect changing expenditure \npatterns, ZIMSTAT introduced a revised CPI basket and \nrebased CPI figures to December 2012=100. \n \nNON-FOOD INFLATION \nFOOD \nINFLA-\nTION \nALL \n \nALCO-\nHOLIC \nBEVER-\nAGES \nCLOTH-\nING \nHSING, \nWATER, \nFURNITURE \nHEALTH TRANSPORT \nCOMMUNI-\nCATION \nRECREATION & EDUCATION \nRESTAU-\nRANTS & \nMISC. \nTOTAL \nNON \nFOOD & \nITEMS \n \n& TO-\nBACCO \nFOOT-\nWEAR \nELEC-\nTRICTY, \nGAS \nAND \n \n \n \nCULTURE \n \nHOTELS \nGOODS & \nFOOD \nNON \nALCO-\nHOLIC \nBEVER-\nAGES \n \n \n \n \n& OTHER \nEQUIPMENT \n \n \n \n \n \nSERVICES \n \n \n \n \n \n \nFUELS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nWEIGHTS \n4.38 \n6.05 \n17.74 \n9.91 \n2.16 \n9.76 \n3.41 \n2.1 \n5.67 \n1.38 \n3.91 \n66.47 \n33.53 \n100 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n-0.54 \n0.00 \n0.00 \n0.00 \n0.01 \n0.00 \n0.00 \n0.01 \n0.00 \n0.01 \n-0.52 \n-0.06 \n0.32 \n0.07 \nFEBRUARY \n 2.75 \n0.37 \n0.41 \n0.20 \n1.51 \n1.65 \n-0.17 \n-0.08 \n0.08 \n0.77 \n1.11 \n0.72 \n1.40 \n0.95 \nMARCH \n0.47 \n0.04 \n0.03 \n0.36 \n0.06 \n0.49 \n-0.20 \n0.13 \n0.00 \n-1.11 \n0.08 \n0.15 \n0.32 \n0.21 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n24 \nTABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1 \n(DECEMBER 2012 = 100) \n1. Source: ZIMSTATS. To reflect changing expenditure \npatterns, ZIMSTAT introduced a revised CPI basket and \nrebased CPI figures to December 2012=100. \n \nNON-FOOD INFLATION \nFOOD \nINFLATION \nALL \n \nALCO-\nHOLIC \nBEVER-\nAGES \nCLOTHING \nHSING, \nWATER, \nFURNI-\nTURE \nHEALTH \nTRANSPORT \nCOMMU-\nNICATION \nRECREA-\nTION & \nEDUCA-\nTION \nRESTAU-\nRANTS & \nMISC. \nTOTAL \nNON \nFOOD & \nITEMS \n \n& TO-\nBACCO \nFOOTWEAR \nELEC-\nTRICTY, GAS \nAND \n \n \n \nCULTURE \nHOTELS \nGOODS & \nFOOD \nNON ALCO-\nHOLIC \nBEVER-\nAGES \n \n \n \n \n& OTHER \nEQUIP-\nMENT \n \n \n \n \n \n \nSERVICES \n \n \n \n \n \nFUELS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nWEIGHTS \n4.38 \n6.05 \n17.74 \n9.91 \n2.16 \n9.76 \n3.41 \n2.1 \n5.67 \n1.38 \n3.91 \n66.47 \n33.53 \n100 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n3.83 \n-0.74 \n10.70 \n0.65 \n1.94 \n6.42 \n-0.36 \n1.92 \n12.96 \n1.92 \n1.32 \n1.91 \n3.72 \n2.51 \nFEBRUARY \n5.77 \n-0.74 \n7.11 \n0.64 \n3.23 \n8.31 \n-0.01 \n-0.19 \n13.05 \n 3.01 \n 1.95 \n2.91 \n4.67 \n2.98 \nMARCH \n6.24 \n-0.80 \n5.48 \n0.70 \n3.28 \n8.73 \n-0.05 \n-0.19 \n8.37 \n1.71 \n1.64 \n2.04 \n4.18 \n2.76 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n25 \n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES \n \n \n \n \n \n \n \n \n \n \n \n \n \nSA \nBW \nJAPANESE \nEUROPEAN \nPOUND \nEND OF \nRAND/1 \nPULA/1 \nYEN/1 \nCURRENCY/2 \nSTERLING/2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n7.82 \n7.32 \n76.20 \n1.32 \n1.60 \nFEBRUARY \n7.47 \n7.13 \n80.28 \n1.35 \n1.60 \nMARCH \n7.59 \n7.29 \n81.92 \n1.33 \n1.59 \nAPRIL \n7.82 \n7.41 \n80.78 \n1.32 \n1.61 \nMAY \n8.14 \n7.63 \n79.80 \n1.28 \n1.59 \nJUNE \n8.38 \n7.77 \n79.42 \n1.25 \n1.56 \nJULY \n8.18 \n7.74 \n78.23 \n1.23 \n1.57 \nAUGUST \n8.45 \n7.80 \n78.47 \n1.25 \n1.58 \nSEPTEMBER \n8.23 \n7.65 \n77.50 \n1.29 \n1.63 \nOCTOBER \n8.64 \n7.88 \n79.78 \n1.30 \n1.61 \nNOVEMBER \n8.78 \n7.95 \n80.94 \n1.30 \n1.60 \nDECEMBER \n8.48 \n7.88 \n86.06 \n1.32 \n1.62 \n \n \n \n \n \n \nJANUARY \n9.03 \n8.05 \n90.90 \n1.36 \n1.58 \nFEBRUARY \n8.84 \n8.04 \n92.36 \n1.31 \n1.52 \n \n \n \n \n \n \n \n \n \n \n \n \n1. Foreign currency per US Dollar. \n \n \n \n \n2. US Dollar per unit of foreign currency. \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nMARCH \n9.26 \n8.30 \n94.13 \n1.28 \n1.51 \n26 \nTABLE 7.1: COMMERCIAL BANKS - ASSETS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \nSecurities \n \n \nLoans & Contingent \nOther \nNon Financial \nTotal \nEnd of \nNotes \n \n \n \n \n \n \nTotal \nOther Balances Advances \nAssets \nAssets \nAssets \nAssets \n \n& \nBalances \nBalances \nBalances \n \n \n \n Liquid \nwith RBZ \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury Agric PEs \n Assets \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n255.1 \n258.7 \n91.1 \n382.3 \n109.8 \n0.0 \n0.0 \n1,097.0 \n120.3 \n1,988.3 \n262.6 \n135.2 \n316.4 \n3,919.8 \nFeb \n242.8 \n335.2 \n90.0 \n489.4 \n121.3 \n0.0 \n0.0 \n1,278.7 \n102.7 \n1,978.3 \n265.7 \n138.9 \n329.6 \n4,093.8 \n Mar \n285.0 \n444.6 \n103.2 \n217.6 \n140.4 \n0.0 \n0.0 \n1,191.3 \n34.7 \n2,040.5 \n337.0 \n152.8 \n339.6 \n4,095.9 \n Apr \n306.5 \n459.1 \n128.5 \n197.4 \n217.0 \n0.0 \n0.0 \n1,308.5 \n32.8 \n2,068.4 \n348.9 \n180.2 \n342.0 \n4,280.7 \n May \n316.3 \n441.8 \n113.2 \n210.5 \n225.8 \n0.0 \n0.0 \n1,307.6 \n32.2 \n2,156.2 \n388.5 \n182.5 \n384.1 \n4,451.3 \nJun \n297.2 \n413.2 \n98.2 \n245.8 \n232.6 \n0.0 \n0.0 \n1,287.1 \n32.4 \n2,140.6 \n369.7 \n228.5 \n386.3 \n4,444.7 \n Jul \n329.9 \n403.3 \n108.9 \n211.0 \n205.1 \n0.0 \n0.0 \n1,258.2 \n25.0 \n2,359.7 \n370.0 \n242.7 \n393.3 \n4,648.8 \n Aug 331.2 \n363.1 \n97.7 \n165.3 \n211.6 \n0.0 \n0.0 \n1,168.8 \n24.9 \n2,404.0 \n385.9 \n221.3 \n390.1 \n4,594.9 \n Sep \n299.3 \n381.7 \n109.8 \n185.2 \n175.2 \n0.0 \n0.0 \n1,151.3 \n25.1 \n2,498.0 \n390.6 \n240.1 \n390.4 \n4,695.4 \nOct \n331.5 \n368.4 \n127.1 \n191.5 \n174.2 \n7.4 \n0.0 \n1,200.1 \n25.0 \n2,530.01 \n372.3 \n246.6 \n389.6 \n4,763.6 \nNov \n306.6 \n358.3 \n119.3 \n325.9 \n188.1 \n7.5 \n0.0 \n1306.0 \n25.5 \n2,591.9 \n348.3 \n234.4 \n394.1 \n4,900.0 \nDec \n375.9 \n374.7 \n131.1 \n219.7 \n190.8 \n8.2 \n0.0 \n1,300.4 \n27.7 \n2,631.6 \n375.3 \n255.7 \n389.0 \n4,980.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n323.4 \n378.5 \n103.4 \n182.3 \n247.8 \n0.0 \n0.0 \n1,235.5 \n52.2 \n2,694.9 \n386.1 \n205.7 \n386.7 \n4,961.1 \nFeb \n292.2 \n357.7 \n120.5 \n234.6 \n239.9 \n0.0 \n0.0 \n1,244.9 \n27.7 \n2,289.3 \n328.8 \n208.0 \n388.3 \n4,887.0 \nMar \n271.6 \n345.7 \n196.1 \n198.9 \n265.3 \n0.0 \n0.0 \n1277.6 \n26.1 \n2715.8 \n367.2 \n228.8 \n388.0 \n5,003.5 \n27 \nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nOf which \n \n \n \n \n \n \n \n \nand \nLiabilities Liabilities Liabilities Liabilities \nto the \nEnd of \nDemand \nSavings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther Banks Reserves \n \n \n \nPublic \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n1,830.5 \n740.1 \n170.2 \n2,740.8 \n143.6 \n0.0 \n47.3 \n426.6 \n262.6 \n298.9 \n3,919.8 \n2,740.8 \nFeb \n1,980.9 \n745.4 \n197.8 \n2,924.1 \n163.3 \n0.0 \n23.5 \n437.8 \n265.7 \n281.4 \n4,095.8 \n2,924.1 \n Mar \n1,944.7 \n699.6 \n322.7 \n2,967.0 \n149.2 \n0.0 \n25.4 \n437.5 \n337.0 \n262.4 \n4,178.6 \n2,967.0 \n Apr \n1,932,8 \n722.1 \n350.4 \n3,005.3 \n155.1 \n0.0 \n23.8 \n440.3 \n348.9 \n307.3 \n4,280.7 \n3,005.3 \n May \n1,886.1 \n802.5 \n462.2 \n3,150.9 \n175.3 \n0.0 \n23.2 \n483.6 \n388.5 \n229.7 \n4,451.3 \n3,150.9 \nJun \n1,889.3 \n899.4 \n391.7 \n3,180.4 \n170.9 \n0.0 \n21.5 \n503.9 \n369.7 \n198.2 \n4,444.7 \n3,180.4 \nJul \n1,957.8 \n873.6 \n500.6 \n3,331.9 \n172.8 \n0.0 \n22.7 \n539.0 \n370.0 \n212.4 \n4,648.8 \n3,331.9 \nAug \n1,919.2 \n930.2 \n374.3 \n3,223.6 \n172.2 \n0.0 \n22.1 \n562.5 \n385.9 \n228.5 \n4,594.9 \n3,223.6 \n Sep \n1,962.6 \n883.0 \n490.0 \n3,335.6 \n183.9 \n0.0 \n20.5 \n552.6 \n390.6 \n205.8 \n4,689.0 \n3,335.6 \n Oct \n1,997.7 \n1,011.7 \n413.6 \n3,422.9 \n168.1 \n0.0 \n20.5 \n562.9 \n372.3 \n216.7 \n4,763.6 \n3,422.9 \n Nov \n1,895.8 \n966.6 \n679.6 \n3,542.0 \n192.9 \n0.0 \n38.2 \n562.2 \n348.3 \n216.4 \n4,900.0 \n3,542.0 \n Dec \n2,090.5 \n922.3 \n507.5 \n3,520.4 \n212.5 \n0.0 \n30.8 \n618.5 \n375.3 \n222.5 \n4,980.0 \n3,520.4 \nFeb \n1,987.8 \n933.3 \n491.5 \n3,412.5 \n258.1 \n0.0 \n32.4 \n631.9 \n328.8 \n223.3 \n4,887.0 \n3,417.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n2,032.2 \n866.1 \n552.4 \n3,450.7 \n266.1 \n0.0 \n27.8 \n623.9 \n386.1 \n206.5 \n4,961.1 \n3,450.7 \nMar \n1,960.1 \n976.3 \n451.1 \n3,387.3 \n290.9 \n0.0 \n32.8 \n687.7 \n367.2 \n237.6 \n5,003.5 \n3,387.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n28 \nTABLE 8.1 : ACCEPTING HOUSES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLoans & Contingent \nOther \nNon Financial \nTotal \nEnd of \nNotes \n \n \n \n \n \nTotal \nOther \nBalances Advances \nAssets \nAssets \nAssets \nAssets \n \n& \nBalances Balances Balances \n \n \nLiquid \nwith RBZ \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury \n Assets \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n Mar \n2.6 \n12.3 \n13.1 \n2.9 \n64.1 \n0.0 \n95.1 \n0.0 \n218.6 \n64.9 \n70.8 \n30.1 \n479.4 \nApr \n6.5 \n9.0 \n15.2 \n3.9 \n37.7 \n0.0 \n72.3 \n0.0 \n241.6 \n56.3 \n74.3 \n31.8 \n476.2 \n May \n3.0 \n7.6 \n18.5 \n1.8 \n20.0 \n0.0 \n51.0 \n0.0 \n259.5 \n54.9 \n77.4 \n31.4 \n474.3 \nJune \n3.6 \n6.6 \n23.9 \n1.0 \n9.9 \n0.0 \n44.9 \n0.0 \n277.8 \n49.6 \n84.2 \n22.7 \n479.3 \nJul \n1.4 \n2.2 \n25.2 \n0.9 \n8.2 \n0.0 \n37.9 \n0.0 \n237.5 \n37.5 \n75.7 \n14.8 \n403.5 \nAug \n0.8 \n0.6 \n31.8 \n0.4 \n5.5 \n0.0 \n39.2 \n0.0 \n223.3 \n36.7 \n59.5 \n22.7 \n381.4 \nSep \n0.9 \n3.7 \n27.8 \n5.5 \n3.1 \n0.0 \n40.9 \n0.0 \n228.0 \n36.8 \n56.1 \n22.1 \n383.9 \nOct \n2.8 \n0.4 \n28.4 \n1.6 \n3.3 \n0.4 \n36.9 \n0.0 \n208.9 \n37.1 \n53.5 \n22.4 \n358.7 \nNov \n1.7 \n0.5 \n30.2 \n1.2 \n3.3 \n0.4 \n37.3 \n0.0 \n235.9 \n37.1 \n53.6 \n22.4 \n386.3 \nDec \n2.2 \n1.0 \n26.1 \n1.4 \n3.3 \n0.4 \n34.4 \n0.0 \n239.2 \n37.2 \n69.1 \n22.3 \n402.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n1.5 \n2.7 \n28.6 \n0.0 \n3.4 \n0.0 \n36.2 \n0.0 \n236.7 \n34.8 \n60.2 \n29.1 \n397.0 \nFeb \n4.7 \n1.5 \n18.4 \n0.0 \n4.5 \n0.0 \n26.9 \n0.0 \n245.7 \n34.8 \n63.9 \n28.9 \n398.2 \nMar \n2.5 \n1.1 \n7.3 \n-3.1 \n1.2 \n0.0 \n8.9 \n0.0 \n260.3 \n34.2 \n50.4 \n28.8 \n382.6 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n29 \nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nLiabilities to the \n \n \n \n \n \n \n \n \nand \nLiabilities \nLiabilities \nLiabilities \nPublic \nEnd of Demand Savings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther \nBanks \nReserves \n \n \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n137.8 \n73.5 \n37.4 \n248.7 \n44.5 \n0.0 \n0.0 \n18.1 \n66.3 \n66.2 \n443.8 \n248.7 \n Feb \n134.2 \n78.8 \n44.4 \n257.4 \n34.4 \n0.0 \n0.0 \n50.8 \n73.4 \n58.9 \n474.9 \n257.4 \n Mar \n70.9 \n129.8 \n48.5 \n249.1 \n46.1 \n0.0 \n0.0 \n55.7 \n64.9 \n63.6 \n479.4 \n249.1 \n Apr \n89.9 \n117.5 \n42.8 \n250.3 \n44.8 \n0.0 \n0.0 \n55.6 \n56.3 \n69.4 \n476.2 \n250.3 \n May \n85.5 \n100.9 \n68.1 \n254.6 \n44.8 \n0.0 \n0.0 \n-48.7 \n54.9 \n168.7 \n474.3 \n254.6 \n Jun \n136.9 \n91.2 \n33.7 \n261.8 \n44.6 \n0.0 \n1.7 \n-22.4 \n49.6 \n144.0 \n479.3 \n261.8 \n Jul \n110.8 \n36.4 \n69.2 \n216.4 \n43.6 \n0.0 \n1.0 \n-33.1 \n37.5 \n138.1 \n403.5 \n216.4 \n Aug \n107.0 \n42.6 \n64.5 \n214.1 \n43.1 \n0.0 \n1.0 \n-96.8 \n36.7 \n183.3 \n381.4 \n214.1 \n Sep \n102.5 \n60.4 \n56.4 \n219.3 \n42.8 \n0.0 \n2.7 \n-47.9 \n36.8 \n130.2 \n383.9 \n219.3 \n Oct \n122.8 \n35.9 \n60.6 \n219.3 \n39.8 \n0.0 \n2.7 \n-51..1 \n37.1 \n110.9 \n358.7 \n219.3 \n Nov \n105.3 \n69.3 \n46.4 \n221.0 \n39.9 \n0.0 \n2.7 \n-69.7 \n37.1 \n155.2 \n386.3 \n221.0 \n Dec \n108.1 \n67.9 \n44.2 \n220.2 \n44.5 \n0.0 \n2.7 \n-60.9 \n37.2 \n158.5 \n402.3 \n220.2 \n Feb \n102.8 \n66.0 \n55.7 \n224.5 \n45.3 \n0.0 \n2.7 \n-77.8 \n34.8 \n168.7 \n398.2 \n224.5 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n106.9 \n91.7 \n21.3 \n220.0 \n44.8 \n0.0 \n2.7 \n-72.4 \n34.8 \n167.2 \n397.0 \n220.0 \n Mar \n104.3 \n62.3 \n52.8 \n219.5 \n45.8 \n0.0 \n1.2 \n-97.3 \n34.2 \n179.3 \n382.6 \n219.5 \n \n \n \n \n \n \n \n \n \n \n \n \n \n30 \nTABLE 9.1 : BUILDING SOCIETIES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \nNotes \nBalances \nTrade \nTreasury \nTotal \nMortgage \nOther \nOther \nNon Finan-\ncial \nTotal \nEnd of \n& \nwith Other \nBills \nBills \nLiquid \nAdvances \nAdvances \nAssets \nAssets \n Assets \n \nCoin \nBanks \n \n \n Assets \n \n \n \n \n \n \nat Banks \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n Jan \n20.1 \n80.8 \n0.0 \n0.0 \n100.9 \n207.2 \n80.6 \n17.6 \n112.2 \n518.5 \n Feb \n13.3 \n99.2 \n0.0 \n0.0 \n112.6 \n226.5 \n81.0 \n19.3 \n112.5 \n551.8 \n Mar \n15.8 \n109.0 \n0.0 \n0.0 \n124.7 \n221.5 \n83.1 \n19.7 \n112.7 \n561.6 \n Apr \n18.2 \n99.7 \n0.2 \n0.0 \n118.0 \n215.5 \n85.5 \n23.7 \n111.3 \n554.0 \n May \n19.6 \n93.7 \n0.2 \n0.0 \n113.4 \n219.7 \n93.3 \n24.5 \n113.0 \n564.0 \n Jun \n15.7 \n102.2 \n0.2 \n0.0 \n118.1 \n239.5 \n96.5 \n25.6 \n114.6 \n594.3 \n Jul \n19.6 \n108.6 \n0.0 \n0.0 \n128.2 \n242.3 \n101.3 \n26.2 \n116.2 \n614.3 \n Aug \n18.7 \n113.1 \n0.0 \n0.0 \n131.8 \n248.8 \n104.7 \n27.5 \n118.2 \n630.9 \n Sep \n18.6 \n131.9 \n0.0 \n0.0 \n150.5 \n248.8 \n105.6 \n29.2 \n118.9 \n653.0 \n Oct \n20.1 \n123.0 \n0.0 \n1.0 \n144.0 \n266.6 \n116.7 \n28.9 \n118.9 \n675.1 \n Nov \n22.5 \n125.0 \n0.0 \n1.0 \n148.6 \n277.2 \n117.8 \n33.4 \n117.4 \n694.3 \n Dec \n29.2 \n133.2 \n0.0 \n1.0 \n163.4 \n278.1 \n118.3 \n30.2 \n126.9 \n716.9 \n Feb \n20.2 \n164.3 \n0.0 \n0.0 \n84.5 \n291.8 \n117.9 \n35.3 \n121.4 \n734.2 \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n Jan \n20.4 \n125.5 \n0.2 \n0.0 \n146.1 \n283.2 \n118.5 \n36.1 \n121.4 \n705.3 \n Mar \n18.8 \n129.1 \n0.2 \n20.0 \n168.1 \n291.4 \n116.9 \n39.5 \n121.4 \n737.3 \n \n \n \n \n \n \n \n \n \n \n \n31 \nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \nDeposits \nCapital \nOther \nTotal \nLiabilities to the \n \n \n \n \nand \nLiabilities \n Liabilities \nPublic \nEnd of \nSavings and \nShort-term \nLong-term \nTotal \nReserves \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2011 \n \n \n \n \n \n \n \n Jan \n72.6 \n70.1 \n142.8 \n105.8 \n34.6 \n283.1 \n142.8 \n Feb \n78.8 \n76.2 \n155.0 \n107.6 \n36.1 \n298.7 \n155.0 \n Mar \n87.0 \n83.0 \n170.1 \n108.6 \n11.8 \n318.7 \n170.1 \n Apr \n90.1 \n85.0 \n175.1 \n110.6 \n16.4 \n332.1 \n175.1 \n May \n95.5 \n102.5 \n197.9 \n112.7 \n21.6 \n364.9 \n197.9 \n Jun \n124.6 \n77.4 \n202.0 \n116.7 \n50.6 \n369.4 \n202.0 \n Jul \n146.7 \n68.1 \n214.8 \n119.0 \n70.0 \n403.9 \n214.8 \n Aug \n149.9 \n80.6 \n230.6 \n122.0 \n67.7 \n420.3 \n230.6 \n Sep \n149.4 \n93.2 \n242.6 \n123.1 \n77.5 \n443.3 \n242.6 \n Oct \n154.3 \n93.0 \n247.3 \n125.8 \n13.7 \n453.8 \n247.3 \n Nov \n158.3 \n123.9 \n282.4 \n129.0 \n89.2 \n500.6 \n282.4 \n Dec \n186.4 \n100.7 \n287.0 \n121.3 \n96.7 \n505.1 \n287.0 \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n Jan \n201.3 \n94.2 \n295.5 \n127.3 \n95.7 \n518.5 \n295.5 \n Feb \n209.9 \n115.3 \n325.2 \n129.9 \n96.7 \n551.8 \n325.2 \n Mar \n182.1 \n152.2 \n334.3 \n129.6 \n76.7 \n540.7 \n334.3 \n Apr \n205.3 \n126.2 \n331.5 \n131.9 \n90.5 \n554.0 \n331.5 \n May \n242.1 \n93.4 \n335.5 \n136.3 \n70.4 \n564.0 \n335.5 \n Jun \n260.1 \n109.7 \n369.7 \n141.8 \n82.7 \n594.3 \n369.7 \n Jul \n233.2 \n156.1 \n389.3 \n145.7 \n79.3 \n614.3 \n389.3 \n Aug \n231.0 \n170.1 \n401.2 \n150.0 \n79..8 \n630.9 \n401.2 \n Sep \n247.3 \n172.8 \n420.0 \n153.1 \n80.0 \n653.0 \n420.0 \n Oct \n263.2 \n165.4 \n428.6 \n159.8 \n27.5 \n675.1 \n428.6 \n Nov \n246.8 \n179.5 \n426.3 \n165.5 \n28.2 \n694.3 \n426.3 \n \n \n \n \n \n \n \n \n Dec \n255.8 \n184.6 \n440.3 \n177.8 \n28.1 \n716.9 \n440.3 \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n Jan \n230.0 \n192.8 \n422.8 \n180.3 \n102.3 \n705.3 \n422.8 \n Feb \n255.7 \n194.2 \n449.9 \n183.7 \n100.6 \n734.2 \n449.9 \n Mar \n250.6 \n203.9 \n454.5 \n187.2 \n95.7 \n737.3 \n454.5 \n \n \n \n \n \n \n \n \n32 \nTable 10: ZIMBABWE STOCK MARKET STATISTICS \n \n \n \n \n \nIndices \nUS$ Millions \n \nIndustrial \nMining \nMarket Capitalisation \n \n \n \n \n2012 \n \n \n \n \n \n \n \nJan \n138.52 \n79.09 \n3,422.20 \nFeb \n146.03 \n95.39 \n3,696.60 \nMar \n136.76 \n85.01 \n3,458.10 \nApr \n129.55 \n97.15 \n3,303.40 \nMay \n132.03 \n83.73 \n3,351.20 \nJun \n131.96 \n75.70 \n3,341.46 \nJul \n132.92 \n112.12 \n3,445.93 \nAug \n132.27 \n89.04 \n3,434.00 \nSep \n146.00 \n96.00 \n3,822.80 \nOct \n154.47 \n93.66 \n4,033,76 \nNov \n150.16 \n68.74 \n3,890.9 \nDec \n152.40 \n65.12 \n3,963.50 \n \n \n \n \n2013 \n \n \n \n \n \n \n \nJan \n179.34 \n84.07 \n4,700.33 \nFeb \n182.3 \n72.01 \n4,748.24 \nMar \n183.9 \n66.2 \n4,726.34 \n \n \n \n \n \n \n \n \nSource: Zimbabwe Stock Exchange (ZSE) \n \n33 \nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial \nMerchant \n \nBuilding \n \nEnd of \nBanks \nBanks \nOther/2 \nSocieties \nTOTAL \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n910.3 \n110.9 \n52.3 \n295.5 \n1,369.0 \nFebruary \n943.2 \n123.2 \n57.0 \n325.2 \n1,448.6 \nMarch \n1,022.3 \n178.3 \n56.0 \n334.3 \n1,590.9 \nApril \n1,072.5 \n160.3 \n54.2 \n331.5 \n1,618.5 \nMay \n1,264.8 \n169.0 \n55.4 \n335.5 \n1,824.7 \nJune \n1,291.1 \n124.9 \n58.3 \n369.7 \n1,844.0 \nJuly \n1,374.2 \n105.6 \n61.4 \n389.3 \n1,930.5 \nAugust \n1,304.5 \n107.1 \n59.3 \n401.2 \n1,872.1 \nSeptember \n1,373.0 \n116.8 \n60.1 \n420.0 \n1,969.9 \nOctober \n1,425.3 \n96.4 \n61.8 \n428.6 \n2,012.1 \nNovember \n1,646.2 \n115.7 \n67.2 \n426.3 \n2,255.4 \nDecember \n1,429.8 \n112.1 \n63.9 \n440.3 \n2,046.1 \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,418.5 \n113.0 \n64.3 \n422.8 \n2,018.6 \nFebruary \n1,424.8 \n121.7 \n64.7 \n449.9 \n2,061.1 \nMarch \n1,427.3 \n115.2 \n66.7 \n454.5 \n2,063.6 \n \n \n \n \n \n \n \n \n \n \n \n \n1/ Comprises all deposits other than demand deposits. \n2/ Includes People’s Own Savings Bank (POSB). \n \n \n34 \nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial Banks \nAccepting Houses \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid \nPrescribed \nExcess \nLiquid \nPrescribed \nExcess \n \nassets \nliquid \nliquid \nassets \nliquid \nLiquid \nEnd of \nheld \nassets/1 \nassets \nheld \nassets/1 \nassets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2011 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n961.5 \n417.2 \n544.3 \n111.4 \n50.4 \n61.0 \nFebruary \n994.1 \n436.3 \n557.8 \n68.9 \n49.8 \n19.1 \nMarch \n1,053.0 \n455.5 \n597.5 \n70.1 \n53.1 \n16.9 \nApril \n954.9 \n453.4 \n501.5 \n61.9 \n52.7 \n9.2 \nMay \n999.8 \n477.6 \n522.2 \n44.4 \n51.0 \n-6.7 \nJune \n1,145.9 \n505.5 \n640.4 \n41.6 \n53.6 \n-11.9 \nJuly \n1,018.3 \n506.7 \n511.6 \n64.5 \n50.3 \n14.2 \nAugust \n1,046.9 \n647.0 \n399.9 \n55.1 \n62.8 \n-7.7 \nSeptember \n1,031.8 \n656.8 \n375.0 \n65.8 \n65.9 \n-0.1 \nOctober \n1,014.8 \n665.6 \n349.2 \n134.7 \n105.7 \n28.9 \nNovember \n1,041.1 \n663.8 \n377.3 \n135.3 \n107.2 \n28.1 \nDecember \n1,075.7 \n671.9 \n403.8 \n196.1 \n115.7 \n80.4 \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,097.0 \n685.2 \n411.8 \n75.1 \n62.2 \n12.9 \nFebruary \n1,278.7 \n731.5 \n548.2 \n44.8 \n64.4 \n-19.6 \nMarch \n1,273.6 \n741.8 \n531.8 \n95.1 \n62.3 \n32.8 \nApril \n1,308.5 \n751.3 \n557.2 \n72.3 \n62.6 \n9.8 \nMay \n1,307.6 \n787.7 \n519.9 \n51.0 \n63.6 \n-12.6 \nJune \n1,287.5 \n795.1 \n492.4 \n44.9 \n65.4 \n-20.5 \nJuly \n1,258.2 \n833.0 \n425.2 \n37.9 \n54.1 \n-16.2 \nAug \n1,168.8 \n805.9 \n362.9 \n39.2 \n53.5 \n-14.4 \nSeptember \n1,151.3 \n833.9 \n317.4 \n40.9 \n54.8 \n-13.9 \nFebruary \n1,244.9 \n854.5 \n390.4 \n26.9 \n56.1 \n-29.2 \n \n \n \n \n \n \n \n1/ With effect from 1 August 2010, the prescribed liquid asset ratio was reviewed from 10% to 20% of liabilities to the public. \nOctober \n1,200.1 \n855.7 \n344.4 \n36.9 \n54.8 \n-17.9 \nNovember \n1,306.0 \n885.5 \n420.5 \n37.3 \n55.2 \n-18.0 \nDecember \n1,300.4 \n880.1 \n420.3 \n34.4 \n55.1 \n-20.6 \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,235.5 \n862.7 \n372.8 \n36.2 \n55.0 \n-18.8 \nMarch \n1,277.6 \n846.8 \n430.8 \n8.9 \n54.9 \n-46.0 \n \n \n \n \n \n \n \n35 \nTABLE 13 : ZETSS, CHEQUES AND CARDS ACTIVITY. \nUS$ Millions \nMONTH \nZETSS VALUES \nCHEQUE VALUES \nCARD VALUES \nMOBILE & INTERNET \n \n \n \n \n \n2012 \n \n \n \n \nJan \n2,439.7 \n5.3 \n137.2 \n60.8 \nFeb \n2,920.1 \n6.1 \n137.1 \n77.2 \nMar \n3,242.8 \n6.8 \n156.4 \n104.1 \nApr \n2,948.5 \n5.5 \n160.5 \n68.6 \nMay \n3,237.4 \n5.0 \n189.6 \n82.0 \nJun \n3,407.3 \n6.5 \n177.7 \n93.5 \nJul \n3,321.0 \n6.7 \n169.1 \n135.6 \nAug \n3,417.3 \n6.1 \n218.4 \n98.3 \nSep \n3,043.2 \n5.6 \n235.5 \n149.2 \nOct \n3,630.7 \n6.6 \n232.9 \n196.9 \nNov \n3,526.0 \n5.9 \n240.8 \n197.3 \nDec \n3,584.7 \n5.0 \n308.9 \n220.3 \nAnnual Total \n38,718.7 \n71.1 \n2,364.1 \n1,483.8 \nFeb \n2,968.0 \n5.5 \n260.5 \n199.3 \n \n \n \n \n \n2013 \n \n \n \n \nJan \n3,563.8 \n5.2 \n254.4 \n205.2 \nMar \n3,340.0 \n15.2 \n312.4 \n128.5", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/March2013.pdf"}

dedup/cb_requests/29d3d1b0678fb9a9a3a32ba66b1461ff.json

@@ -0,0 +1 @@
+{"url": "file:///CBN/Annual_Reports/2015 Statistical Bulletin Statistical Expectations Survey.pdf", "source": "CBN", "fetch_date": "2026-05-11", "filename": "2015 Statistical Bulletin Statistical Expectations Survey.pdf", "subfolder": "CBN\\Annual_Reports", "token_count": 12922}

dedup/cb_requests/2b354aac8d3e5fb2a30437b0bea68a05.json

@@ -0,0 +1 @@
+{"url": "file:///CBN/MPC_Communiques/Central Bank of Nigeria MPC Communique No 91 (with Personal Statement of Members) of Sept 23 and 24 2013 (2).pdf", "source": "CBN", "fetch_date": "2026-05-11", "filename": "Central Bank of Nigeria MPC Communique No 91 (with Personal Statement of Members) of Sept 23 and 24 2013 (2).pdf", "subfolder": "CBN\\MPC_Communiques", "token_count": 11215}

dedup/cb_requests/2b9d2137653c91d1faff3792eca264d0.json

@@ -0,0 +1 @@
+{"doc_id": "2b9d2137653c91d1faff3792eca264d0", "text": "MPC Statement July 19th, 2018 \nPage 1 \n \n \nSouth African Reserve Bank \n \nPRESS STATEMENT \nEMBARGO DELIVERY \n19 July 2018 \n \n \nSTATEMENT OF THE MONETARY POLICY COMMITTEE \n \nIssued by Lesetja Kganyago, Governor of the South African Reserve Bank \nSince the previous meeting of the Monetary Policy Committee (MPC), several risks \nto the inflation outlook have begun to materialise. While headline inflation is \ncomfortably within the inflation target band, indications are that we have passed the \nlow point of the current cycle. Developments in the international environment have \nplaced upward pressure on the inflation trajectory, while the domestic growth outlook \nremains challenging. \nThe year-on-year inflation rate, as measured by the consumer price index (CPI) for \nall urban areas, was 4.4% in May 2018 and accelerated to 4.6% in June. Goods \nprice inflation increased to 4.2% (up from 3.5% in May), while services price inflation \nmoderated to 4.9% (down from 5.3%). The South African Reserve Bank’s (SARB) \nmeasure of core inflation – which excludes food, fuel and electricity – declined to \n4.2% in June. Producer price inflation for final manufactured goods increased \nmarginally to 4.6% in May. \nMPC Statement July 19th, 2018 \nPage 2 \n \nDespite remaining within the target band throughout the forecast period, the SARB’s \nmodel projects an increase in headline inflation, peaking at levels closer to the upper \nend of the target range. Thus far, the impact of the value-added tax (VAT) increase \nappears to have been less than anticipated. However, the weaker rand exchange \nrate and the higher oil price assumptions result in a more elevated inflation trajectory. \nHeadline inflation is now expected to average 4.8% in 2018 (down from 4.9%) before \nincreasing to 5.6% in 2019 and decreasing again to 5.4% in 2020 (up from 5.2% in \nboth years). Headline CPI inflation is expected to peak at around 5.7% in the first \nand second quarters of 2019 before declining to 5.3% at the end of 2020. The \nforecast for core inflation is 4.6% in 2018 (up from 4.5%), 5.5% in 2019 and 5.3% in \n2020 (up from 5.1% in both years). \nInflation expectations, as reflected in the survey conducted by the Bureau for \nEconomic Research (BER) during the second quarter of 2018, are largely \nunchanged in the near term, averaging 5.2% in 2018, 5.4% in 2019 and 5.5% in \n2020. Five-year-ahead inflation expectations are at a historical low of 5.4%. \nExpectations implicit in the break-even inflation rates (i.e. the yield differential \nbetween conventional and inflation-linked government bonds) declined marginally \nacross all maturities. \nWhile the global economic outlook has remained broadly favourable, expectations \nare that world growth will begin to slow in the third quarter of 2018. In addition, \nescalating trade tensions are contributing to uncertainty around global trade. World \ntrade volumes contracted sharply in April 2018 – the worst performance since May \n2015. The global inflation outlook remains benign but is on a moderate upward path, \nMPC Statement July 19th, 2018 \nPage 3 \n \nlargely due to the rising oil prices. The prices of most other commodities have been \nretreating. \nSince the previous meeting of the MPC, the rand has depreciated by 7.2% against \nthe US dollar, by 6.2% against the euro, and by 4.9% on a trade-weighted basis. At \ncurrent levels, the SARB’s model assesses the rand to be undervalued. It is likely \nthat the local currency, along with other emerging market currencies, will remain \nvolatile. The implied starting point for the rand is R13.40 against the US dollar \ncompared with R12.37 at the time of the previous MPC meeting. \nA key external risk to the rand remains the possibility of tighter global financial \nconditions. However, the pace of monetary policy normalisation in the advanced \neconomies continues to be gradual. At this stage, further policy tightening by the \nUnited States (US) Federal Reserve (Fed) is expected to follow a measured path in \nthe absence of significant inflation or growth surprises. Higher-than-expected US \nfiscal deficits could result in a stronger monetary policy response. \nThe domestic economic growth outlook for this year is weaker than we had expected \nin May. Following the broad-based contraction of 2.2% in the first quarter and early \nindications of modest growth in the second quarter, the SARB’s forecast now \nindicates a growth rate of 1.2% for 2018 compared with 1.7% previously. The \nforecast for 2019 is 1.9%, marginally higher than the previous forecast of 1.7%, while \nthe forecast for 2020 is unchanged at 2.0%. At these growth rates, the negative \noutput gap is wider in the near term but is still expected to close in 2020. \nThe composite leading business cycle indicator declined for the second consecutive \nmonth in April, consistent with a deteriorating outlook. Business confidence, as \nreflected in the Rand Merchant Bank (RMB)/BER business confidence index, \nMPC Statement July 19th, 2018 \nPage 4 \n \ndecreased to 39 index points in the second quarter. In this context, gross fixed \ncapital formation contracted by 3.2% in the first quarter and is expected to remain \nweak in 2018. \nConsumption expenditure by households, although slightly weaker than last year, is \nexpected to be positively impacted by the improved consumer confidence and the \nincrease in households’ disposable income. In the near term, however, consumption \nexpenditure is likely to be constrained by the VAT increase and other tax changes, \nweak employment growth as well as subdued growth in credit extension to \nhouseholds. Although credit extension to households increased earlier in 2018, \nyear-on-year growth remains low. \nAverage wage growth is expected to remain elevated at around 7% over the forecast \nperiod. This is particularly a concern if labour productivity growth continues to \ndecline. Much of the upward pressure on wage inflation arises from the public sector \nwage settlement, which is at levels above headline inflation. \nHigher international oil prices will contribute to petrol price inflation in 2018. The \nimpact on headline inflation is somewhat moderated by lower food price inflation. \nAnnual food price inflation is expected to remain within the target range over the \nforecast period, and is not seen as a major risk to the inflation outlook. This is largely \ndriven by an adequate supply of grains over the near term, alongside moderating \nmeat price increases. \nThe MPC noted the rising inflation trajectory which, while remaining within the target \nrange, is moving closer to the upper end of the range. \nMPC Statement July 19th, 2018 \nPage 5 \n \nKey uncertainties in the global environment remain. The continued strength of the \nUS dollar (which has appreciated against most currencies), any sustained elevation \nof oil prices, escalating trade tensions as well as geopolitical developments continue \nto pose risks to the inflation outlook. The rand will remain sensitive to changes in \nglobal monetary policy settings and investor sentiment towards the emerging \nmarkets. \nThe MPC assesses the risks to the inflation forecast to be on the upside. A number \nof key risks and uncertainties highlighted in recent meetings persist. Electricity prices \ncontinue to pose a further upside risk. \nThe growth forecast has deteriorated, and the outlook remains constrained. Demand \npressures in the economy are not assessed to pose a risk to the inflation outlook. \nThe MPC assesses the risks to the growth forecast to be more or less balanced. A \nfirm commitment to credible structural policy initiatives and implementation is \nrequired to make a marked impact on employment and potential output. \nThe MPC unanimously decided to keep the repurchase rate unchanged at 6.5% per \nannum. At these levels, the MPC still assesses the stance of monetary policy to be \naccommodative and appropriate given the current state of the economy. However, \nthe MPC has noted the deteriorating inflation outlook, driven mainly by supply-side \nfactors. The approach of the MPC continues to be one of looking through the first-\nround effects and focusing on the second-round effects. With risks and uncertainties \nat higher levels, the MPC will continue to be vigilant and will not hesitate to act \nshould there be second-round effects that take us significantly away from the \nmidpoint of the inflation target range. \nMPC Statement July 19th, 2018 \nPage 6 \n \nThe implied path of policy rates generated by the Quarterly Projection Model has \nchanged since the previous MPC meeting. Whereas previously four increases of \n25 basis points each by the end of 2020 were indicated, five increases of 25 basis \npoints are now implied. As emphasised previously, the implied path remains a broad \npolicy guide which can and does change in either direction between meetings in \nresponse to new developments and changing risks. The MPC does not mechanically \nrespond to changes in the path, and the assessment of the balance of risks to the \nforecast cannot be done by the model. \n \nLesetja Kganyago \nGOVERNOR \nThe next statement of the Monetary Policy Committee will be released on \n20 September 2018. \n \nContact person: \nZamaNdlovu Ndlovu \n012 399 7118 \nmedia@resbank.co.za", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/MPC-Statement_19-July-2018-.pdf"}

dedup/cb_requests/2c2bd6ba4af8bd85e031ecf66db88853.json

@@ -0,0 +1 @@
+{"doc_id": "2c2bd6ba4af8bd85e031ecf66db88853", "text": "MONTHLY ECONOMIC REVIEW \nAUGUST 2014 \nSelected Economic Indicators \n 2 \nStock Market Developments \n 3 \nMonetary Developments \n 5 \nInflation \n 6 \nNational Payments System \n 7 \nStatistical Tables \n 9 \n \n \nINSIDE THIS ISSUE \n \nPAGE \nSELECTED ECONOMIC INDICATORS \n2 \n \n2014 \nJuly \n2014 \nAugust \nMonth-on- \nMonth \nChange \nZ.S.E. Mining Index1 \n95.00 \n104.80 \n10.32% \nZ.S.E. Industrial Index1 \n188.07 \n196.43 \n4.45% \nMoney Supply (Total Bank Deposits) (US$)2 \n4.22 billion \n4.32 billion \n2.32% \nMoney Supply (M3) Annual Growth2 \n9.58% \n13.85% \n2.32% \nYearly Inflation3 \n0.31% \n0.15% \n-0.31% \nNominal Lending Rate (%) \n6.00-35.00 \n6.00-35.00 \n \nSources: \n1 Zimbabwe Stock Exchange \n2 Reserve Bank of Zimbabwe \n3 Zimbabwe National Statistics Agency (ZIMSTAT) \n \n \n \n \nSTOCK MARKET DEVELOPMENTS \n \nThe Zimbabwe Stock Exchange (ZSE) \nregistered gains in August 2014, despite the \nlackluster \nperformance \nof \nsome \nlisted \ncounters. \nThe \nZSE’s \nindustrial \nindex \nrecorded an increase of 4.5%, to close at \n196.4 points. The increase was largely due to \ntrading \nbeing \nconcentrated \nin \nheavily \ncapitalized counters. On a year-to-date basis, \nhowever, the industrial index lost 2.8%. \n \nThe mining index maintained its upward \ntrend, gaining 10.3% to close at 104.8 points \nin August 2014, from 95 points in July. The \ngains were fueled by a rise of 66.7% in the \nshare price of Hwange. The mining index \ngained 128.9%, on a year to date basis. \n \nShares traded totaled 328.3 million in volume \nterms in August 2014, compared to 322.4 \nmillion shares in July 2014. Total turnover, \nalso rose by 163.2%, to close the month under \nreview at US$66.4 million. The trading \ndevelopments were largely supported by two \nspecial bargain deals of 47.5 million BancABC \nshares. \n \nButtressed by increases in the prices of heavily \ncapitalized \ncounters, \nmarket \ncapitalization \nincreased by 4.6% to US$5.2 billion at the end \nof August 2014, from US$4.9 billion at the \n2 3 \nSource: Zimbabwe Stock Exchange, 2014. \nSource: Zimbabwe Stock Exchange, 2014. \n2 4 \nclose of July 2014. On a year to date basis, \nhowever, the ZSE’s market capitalization \nfell by 2.8%. \n \nMONETARY DEVELOPMENTS \n \nAnnual growth in broad money increased \nfurther to 13.9% in August 2014. Broad \nmoney stood at US$4 322.1 million in \nAugust 2014, up from US$3 796.2 million in \nAugust 2013. On a monthly basis, broad \nmillion, respectively. These increases were, \nhowever, partially offset by a US$27.6 \nmillion decline in short term deposits. \n \nAgainst the background of an increase in \ndeposits, annual growth in domestic credit \nrose to 6.2%, largely reflecting an 86.9% \nincrease in net credit to Government. \nUnderpinning the increase in net credit to \nGovernment were Treasury bills holdings by \ncommercial and merchant banks, which \nincreased by 113.1% to US$237.5 million, \nbetween August 2013 and August 2014. \n \nCredit to the private sector continued to be \ndriven by loans and advances, which were \npartly sustained by offshore lines of credit, as \nSource: Reserve Bank of Zimbabwe, 2014. \nmoney registered a 2.3% growth. \n \nThe annual growth in broad money was \nunderpinned by an increase in long term, \nsavings and demand deposits of US$315.1 \nmillion; US$129.2 million; and US$109.2 \nSource: Reserve Bank of Zimbabwe, 2014. \n3 5 \nlocal \nsources \nof \nliquidity \nremained \nconstrained. Lending to the private sector by \nbanks declined to US$3 117.9 million in \nAugust 2014, from US$3 165.4 million in \nAugust 2013. \n \nCredit to the private sector was mainly \ncomposed of loans and advances, 83.7%; \nmortgages, 11.9%; banker’s acceptances, \n0.6%; bills discounted, 1.9%; and other \ninvestments, 1.9%. The loans and advances \nwere mainly extended to agriculture (18.7%), \ndistribution (16.9%), and manufacturing \n(14.4%). Individuals accounted for 16.1% of \ntotal loans and advances. \n \nThe private sector borrowed mainly for \nunclassified asset purchases (43.7%) as well \nas inventory build-up (34.0%). Loans and \nadvances utilized for fixed investment activity \nhave remained low, with the procurement of \nplant and equipment accounting for 3.4% and \npre and post shipment financing at 1.9%, of \ntotal loans and advances. \n \n \nINFLATION DEVELOPMENTS \n \n \nAnnual Inflation \n \nAnnual headline inflation retreated from \n0.31% in July 2014, to 0.15% in August 2014. \nThis was largely on account of declines in \nboth food and non-food inflation. \n \nAnnual food inflation eased from -2.9% in \nJuly 2014, to -2.8% in August 2014. All food \ncategories, except unclassified food items, \nregistered price decreases in August 2014. \n \nThe combined effect of improved domestic \nand global food supply, as well as depressed \neffective demand resulted in a fall in food \nprices. \n \nAnnual non-food inflation retreated from to \n1.9% in July 2014, to 1.6% in August 2014, \nmainly driven by declines in health, recreation \nSource: Reserve Bank of Zimbabwe, 2014. \n4 6 \nand culture, as well as housing, water, \nelectricity, gas and other fuels categories. \nMonth-on-Month Inflation \nMonth-on-month inflation stood at -0.3% in \nAugust 2014, shedding 0.3 percentage points \nfrom the 0.01% recorded in July 2014. This \ndecline was mainly driven by decreases in \nmonthly food and non alcoholic beverages. \nMonthly food inflation decelerated to -0.8% \nin August 2014, from -0.5% in July 2014. \nThis was on account of a continued decline in \nvegetables, bread and cereals, milk, cheese, \neggs, oil and fats, coffee, tea and cocoa, and \nmeat prices from previous month levels. \nMonthly non-food inflation retreated from \n0.2% in July 2014, to -0.1% in August 2014, \nfollowing decreases in the prices of clothing \nand footwear as well as furniture and \nhousehold equipment. \n \nNATIONAL \nPAYMENTS \nSYSTEM \nDEVELOPMENTS \nZimbabwe Electronic Transfer Settlement \nSystem (ZETSS) \nThe value of transactions processed through \nthe Real Time Gross Settlement system in \nAugust 2014 decreased by 11% to US$3.5 \nbillion, from US$3.9 billion recorded in \nJuly 2014. Concomitantly, the volume of \ntransactions registered a decrease of 14% \nfrom 199 587 to 170 858 in the same period. \nCard Based Transactions \nThe total value of card based transactions \nincreased by 4.2% to US$409.3 million in \nAugust 2014, from US$392.8 million in July \n2014. \n \n \nSource: ZIMSTATS, 2014. \n7 \nMobile and Internet Based Transactions \nThe value of mobile and internet based \ntransactions increased by 2.3%, from \nUS$414.1 \nmillion \nin \nJuly \n2014, \nto \nUS$423.6 million in August 2014. \n \nCheque Transactions \nThe value of cheque transactions stood at \nUS$9.4 million in August 2014, down from \nUS$11.7 million in July 2014. \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nReserve Bank of Zimbabwe \nSeptember 2014 \n \nSource: Reserve Bank of Zimbabwe, 2014. \n8 \nNOTES \n9 \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n1. Monetary Statistics \n \n \n1.1 Monetary Aggregates \n \n \n \n \n \n11 \n \n1.2 Broad Money Survey \n \n \n \n \n \n12 \n \n1.3 Analysis of Monthly Changes in Money Supply \n \n13 \n \n1.4 Analysis of Yearly Changes in Money Supply \n \n \n14 \n \n \n2. Sectoral Analysis of Bank Loans and Advances and Deposits \n \n \n2.1 Sectoral Analysis of Commercial Banks Loans and Advances 15 \n \n2.2 Sectoral Analysis of Merchant Banks Loans and Advances \n16 \n \n2.3 Sectoral Analysis of Merchant Acceptances \n \n \n17 \n \n2.4 Sectoral Analysis of Commercial Banks Deposits \n \n18 \n \n2.5 Sectoral Analysis of Merchant Banks Deposits \n \n19 \n \n3. External Statistics \n \n \n3.1 Total External Debt Outstanding by Debtor \n \n \n20 \n \n4. Interest Rates \n \n \n4.1 Lending Rates \n \n \n \n \n \n \n21 \n \n4.2 Banks Deposit Rates \n \n \n \n \n \n22 \n \n5. Inflation \n \n \n5.1 Monthly Inflation \n \n \n \n \n \n23 \n \n5.2 Yearly Inflation \n \n \n \n \n \n \n24 \n \n6. Exchange Rates \n \n \n \n \n \n \n \n25 \n \n \n \n \n \nSTATISTICAL TABLES \nCONTENTS \n \nTable \n \n \n \n \n \n \n \n \nPage \n \n \n7. Commercial Banks \n \n \n7.1 Assets \n \n \n \n \n \n \n \n26 \n \n7.2 Liabilities \n \n \n \n \n \n \n27 \n \n8. Accepting Houses \n \n \n8.1 Assets \n \n \n \n \n \n \n \n28 \n \n8.2 Liabilities \n \n \n \n \n \n \n29 \n \n 9. Building Societies \n \n \n9.1 Assets \n \n \n \n \n \n \n \n30 \n \n9.2 Liabilities \n \n \n \n \n \n \n31 \n \n10. Zimbabwe Stock Exchange Statistics \n \n \n \n \n32 \n \n11. Savings with Financial Institutions \n \n \n \n \n33 \n \n12. Analysis of Liquid Assets of Monetary Banks \n \n \n \n34 \n \n13. ZETSS, Cheques and Cards Activity \n \n \n \n \n \n \n \n13.1 Values of Transactions \n \n \n \n \n35 \n \n13.2 Volumes of Transactions \n \n \n \n \n36 \n10 \n11 \n12 \n13 \n14 \n15 \n1. These are large corporation with business operations covering across a number of sectors. \nTABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAGRICULTURE \nCONSTRUCTION \nCOMMUNICA-\nTION \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL \nMANUFAC-\nTURING \nMINING \nSERVICES TRANSPORT \nINDIVIDUALS \nCONGLOMER-\nATES/1 \nTOTAL \nEND OF \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n450,170.0 \n31,073.4 \n38,762.3 \n426,050.9 \n11,967.9 \n31,547.4 \n417,961.3 \n144,645.1 \n237,323.7 \n33,906.5 \n300,841.1 \n9,373.1 \n2,133,622.7 \nFREBRUARY \n494,536.6 \n33,786.9 \n28,372.0 \n439,556.7 \n14,811.4 \n33,948.5 \n409,692.7 \n128,242.7 \n303,269.9 \n38,235.9 \n298,171.5 \n3,685.5 \n2,226,310.2 \nMARCH \n467,873.97 \n41,532.7 \n68,987.2 \n433,337.1 \n16,118.8 \n34,704.7 \n471,204.9 \n159,925.7 \n307,134.7 \n44,413.57 \n370,123.5 \n4,491.7 \n2,419,848.6 \nAPRIL \n455,178.9 \n43,628.2 \n23,433.4 \n428,381.7 \n14,997.8 \n35,589.1 \n444,798.7 \n135,046.2 \n288,857.6 \n45,643.6 \n377,037.0 \n7,693.7 \n2,300,585.8 \nMAY \n484,635.0 \n38,637.2 \n27,795.2 \n455,737.9 \n14,699.1 \n35,106.1 \n465,890.2 \n115,457.8 \n301,547.9 \n52,075.2 \n382,172.8 \n5,034.0 \n2,378,788.7 \nJUNE \n489,730.1 \n37,474.3 \n38,198.7 \n425,521.3 \n7,310.7 \n53,815.0 \n454,368.5 \n110,349.9 \n295,432.3 \n51,453.6 \n385,769.7 \n11,033.4 \n2,360,457.5 \nJULY \n483,103.7 \n40,342.5 \n33,494.3 \n464,921.7 \n6,869.2 \n38,522.6 \n541,025.9 \n116,557.1 \n307,117.5 \n48,218.0 \n426,582.7 \n4,455.3 \n2,511,210.5 \nAUGUST \n521,743.0 \n38,889.1 \n43,894.5 \n425,531.4 \n7,260.6 \n39.087.2 \n451,871.2 \n110,041.8 \n346,006.0 \n40,216.0 \n374,587.1 \n9,914.6 \n2,409,042.5 \nSEPTEMBER \n496,289.3 \n39,446.9 \n38,856.6 \n447,247.2 \n13,953.5 \n43,006.7 \n437,211.9 \n118,873.7 \n330,709.6 \n40,046.6 \n373,596.8 \n9,790.6 \n2,389,029.4 \nOCTOBER \n491,610.6 \n38,871.5 \n39,766.0 \n471,966.2 \n8,023.3 \n40,835.3 \n420,445.3 \n110,778.3 \n417,411.6 \n36,334.1 \n376,463.1 \n9,861.9 \n2,462,367.3 \nNOVEMBER \n487,289.4 \n40,321.7 \n42,332.0 \n488,637.3 \n3,116.5 \n36,852.0 \n417,162.5 \n117,050.8 \n389,727.1 \n39,126.4 \n369,190.3 \n17,960.5 \n2,448,766.4 \nDECEMBER \n533,165.2 \n42,285.1 \n17,617.9 \n435,613.1 \n5,047.0 \n62,165.8 \n389,181.2 \n115,404.6 \n379,809.3 \n37,409.1 \n369,838.8 \n18,252.9 \n2,405,790.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n489,585.3 \n43,743.8 \n18,574.7 \n464,097.6 \n5,467.4 \n48,086.1 \n362,554.0 \n116,635.5 \n412,901.1 \n37,722.2 \n367,126.2 \n16,773.1 \n2,383,267.1 \nFEBRUARY \n519,154.6 \n38,918.1 \n24,765.4 \n460,528.2 \n10,397.3 \n47,488.6 \n385,038.1 \n116,670.5 \n401,619.6 \n32,978.1 \n396,800.8 \n8,542.7 \n2,442,902.1 \nMARCH \n503,868.1 \n42,707.9 \n35,785.1 \n494,663.8 \n5,257.4 \n52,722.0 \n374,809.1 \n116,653.0 \n396,000.6 \n38,089.3 \n406,503.1 \n15,833.1 \n2,482,892.7 \nAPRIL \n540,156.2 \n40,707.1 \n18,138.9 \n502,514.1 \n9,898.6 \n18,817.9 \n407,595.0 \n175,048.3 \n447,549.2 \n49,619.1 \n511,048.2 \n15,136.7 \n2,736,229.2 \nMAY \n546,733.9 \n41,594.2 \n21,547.9 \n488,389.7 \n10,073.8 \n23,049.1 \n396,846.0 \n184,730.9 \n452.373.8 \n51,891.8 \n512,864.5 \n17,718.8 \n2,747,814.6 \nJUNE \n536,188.9 \n46,085.8 \n28,201.0 \n500,266.1 \n10,656.3 \n25,616.2 \n417,002.7 \n197,441.1 \n432,692.4 \n46,751.6 \n499,191.5 \n17,173.9 \n2,757,267.4 \nJULY \n575,645.3 \n43,055.0 \n28,090.8 \n480,483.6 \n6,359.2 \n27284.9 \n428611.4 \n206052.3 \n479384.6 \n49260.4 \n507930.0 \n46148.1 \n2878305.8 \nAUGUST \n548,866.7 \n56,886.1 \n38,891.3 \n498,696.8 \n54,387.2 \n110,618.5 \n422,942.5 \n221099.2 \n430,156.3 \n48,167.0 \n474,060.2 \n37,230.9 \n2,942,002.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n TABLE 2.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Thousands \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nEND OF \nAGRICUL-\nTURE \nCONSTRUC-\nTION \nCOMMUNI-\nCATIONS \nDISTRIBU-\nTION \nFINANCIAL \n& \nFINANCIAL MANUFACTUR-\nING \nMINING \nSERVICES TRANSPORT \nINDIVIDUALS \nCONGLOMER-\nATES \nTOTAL \n \n \n \n \n \nINVEST-\nMENTS \nORGANISA-\nTIONS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJUNE \n84,589.8 \n51,354.0 \n132,428.7 \n351,179.8 \n98,785.6 \n375,613.6 \n214,696.7 \n76,370.1 \n727,955.7 \n36,208.4 \n456,454.4 \n18,727.6 \n2,624,364.4 \nJULY \n106,470.8 \n47,401.0 \n131,489.0 \n345,036.3 \n70,487,9 \n397,969.7 \n213,370.5 \n89,915.4 \n726,447.6 \n46,000.4 \n505,054.1 \n29,735.3 \n2,709,378.0 \nAUGUST \n99,151.6 \n49,226.4 \n116,820.6 \n363,080.1 \n382,619.4 \n71,775.9 \n216,433.0 \n73,978.5 \n737,065.6 \n48,183.8 \n488,183.8 \n28,785.3 \n2,663,379.8 \nSEPTEMBER \n113,907.6 \n43,671.0 \n125,801.3 \n276,363.0 \n177,790.6 \n429,596.7 \n228,342.2 \n82,777.7 \n651,389.2 \n48,764.9 \n517,788.8 \n29,019.9 \n2,725,213.0 \nOCTOBER \n101,122.4 \n48,716.9 \n155,798.3 \n313,982.4 \n257,300.6 \n409,730.0 \n245,131.8 \n83,995.5 \n661,217.2 \n48,396.8 \n534,643.6 \n26,158.0 \n2,886,193.5 \nNOVEMBER \n104,695.1 \n53,233.8 \n151,359.5 \n348,390.4 \n185,802.5 \n464,782.4 \n269,513.8 \n85,906.9 \n962,840.9 \n47,647.2 \n548,847.7 \n23,130.6 \n3,246,150.7 \nDECEMBER \n96,098.4 \n50,492.7 \n126,343.5 \n379,068.0 \n198,323.3 \n509,241.6 \n280,975.4 \n95,457.1 \n582,286.2 \n41,852.2 \n538,135.2 \n26,491.3 \n2,924,764.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n91,648.8 \n48,329.1 \n128,426.0 \n351,566.7 \n212,401.7 \n494,823.6 \n252,389.7 \n93,470.0 \n658,260.1 \n44,091.4 \n512,289.8 \n32,145.9 \n2,919,842.6 \nFEBRUARY \n96,796.5 \n48,491.5 \n147,571.5 \n360,757.9 \n 147,995.9 \n 578,306.4 \n284,603.8 \n64,530.5 \n679,554.8 \n41,983.6 \n516,431.2 \n25,275.3 \n2,991.999.1 \nMARCH \n96,752.8 \n44,883.3 \n139,327.8 \n354,627.8 \n155,915.2 \n610,758.4 \n290,072.8 \n87,143.0 \n594,397.7 \n38,345.5 \n523,913.8 \n141,404.6 \n3,077,542.7 \nAPRIL \n98,671.0 \n49,093.8 \n152,390.8 \n350,269.2 \n166,578.5 \n545,118.2 \n311,310.8 \n105,766.9 \n638,341.8 \n39,837.1 \n533,691.3 \n99,053.9 \n3,090,123.4 \nMAY \n114,053.3 \n55,427.4 \n142,023.3 \n389,384.7 \n255,352.1 \n484,429.7 \n318,129.4 \n92,777.2 \n700,668.7 \n46,593.8 \n578,509.2 \n32,297.7 \n3,209,646.5 \nJUNE \n116,635.2 \n58,578.8 \n147,313.8 \n447,394.5 \n183,146.3 \n352,600.3 \n366,824.2 \n96,685.8 \n701,195.7 \n46,578.5 \n597,373.1 \n104,843.6 \n3,219,169.8 \nJULY \n108,086.6 \n46,449.5 \n120,982.3 \n380,448.8 \n178,341.4 \n677,700.7 \n301,575.9 \n97,583.8 \n710,856.1 \n39,395.9 \n487,954.4 \n102,531.4 \n3,251,906.9 \nAUGUST \n137,107.1 \n48,726.1 \n135,788.5 \n319,106.0 \n174,593.9 \n637,190.7 \n333,255.3 \n99,194.1 \n639,401.6 \n41,996.5 \n417,762.6 \n93,772.1 \n3,077,894.4 \nSEPTEMBER \n100,028.3 \n57,039.8 \n145,652.5 \n380,781.4 \n207,379.2 \n612,131.5 \n408,359.1 \n103,872.8 \n795,047.6 \n46,982.9 \n435,912.4 \n90,265.8 \n3,383,453.4 \nOCTOBER \n94,346.3 \n52,722.4 \n141,401.4 \n338,625.9 \n223,223.8 \n754,145.4 \n339,305.6 \n99,583.3 \n754,116.1 \n41,527.2 \n440,197.9 \n97,771.1 \n3,376,966.4 \nNOVEMBER \n114,178.7 \n47,740.9 \n128,399.3 \n312,639.2 \n241,628.8 \n741,885.4 \n283,426.0 \n80,507.6 \n727,492.5 \n42,901.0 \n458,479.9 \n89,292.5 \n3,268,571.8 \nDECEMBER \n113,914.2 \n51,981.7 \n142,938.1 \n342,785.1 \n213,125.2 \n755,299.4 \n327,658.1 \n83,103.1 \n762,884.4 \n41,827.9 \n432,436.3 \n61,038.7 \n3,328,992.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n130,154.6 \n53,292.9 \n146,876.1 \n353,793.8 \n259,569.6 \n731,703.3 \n304,033.2 \n93,776.7 \n770,435.4 \n40,085.9 \n485,573.1 \n60,897.7 \n3,430,192.5 \nFEBRUARY \n138,812.3 \n55,092.2 \n134,813.9 \n420,181.0 \n262,183.8 \n786,295.6 \n270,062.5 \n131,134.8 \n779,640.3 \n39,169.2 \n508,813.7 \n61,822.3 \n3,588,021.6 \nMARCH \n118,239.1 \n55,167.5 \n135,807.9 \n382,675.5 \n216,025.3 \n791,776.0 \n275,549.1 \n103,298.7 \n806,185.9 \n42,432.8 \n521,381.5 \n72,990.9 \n3,521,530.3 \nAPRIL \n164,347.5 \n59,289.3 \n102,323.7 \n408,823.5 \n325,559.7 \n780,207.0 \n325,659.8 \n135,187.4 \n888,876.2 \n43,746.5 \n582,848.8 \n82,009.8 \n3,898,879.1 \nMAY \n149,474.1 \n60,669.4 \n108,977.6 \n355,802.3 \n332,850.8 \n800,256.8 \n303,599.4 \n132,132.8 \n1,027,552.7 \n38,921.0 \n581,930.2 \n93,334.9 \n3,985,501.8 \nJUNE \n194,685.1 \n64,188.9 \n95,595.6 \n470,267.7 \n291,594.6 \n812,999.7 \n348,303.5 \n130,453.4 \n895,698.0 \n44,735.5 \n575,149.1 \n91,392.4 \n4,015,063.5 \nJULY \n163335.6 \n56812.0 \n87587.5 \n370121.7 \n303367.3 \n830988.6 \n334436.8 \n112985.0 \n880761.1 \n44675.4 \n587756.7 \n94841.5 \n3867669.2 \nAUGUST \n128794.1 \n38934.1 \n90012.5 \n271204.3 \n270009.9 \n755141.6 \n236267.5 \n130548.6 \n865566.6 \n31180.4 \n467724.2 \n89582.4 \n3374966.2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n16 \n17 \nTABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL \nARREARS) (WITH RBZ) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nEnd Period \n1999 \n2000 \n2001 \n2002 \n2003 \n2004 \n2005 \n2006 \n2007 \n2008 \n2009 \n2010 \n2011 \n2012 \n2013 \n(US$ millions) \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLong-Term External Debt \n3,530 \n3,227 \n3,255 \n3,327 \n3,644 \n3,927 \n3,805 \n3,965 \n4,032 \n4,464 \n4,951 \n5,175 \n6,096 \n6,607 \n7,370 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nGovernment \n2,461 \n2,249 \n2,328 \n2,376 \n2,617 \n2,844 \n2,895 \n3,024 \n3,054 \n3,464 \n4,037 \n4,095 \n4,638 \n4,929 \n5,012 \nBilateral Creditors \n935 \n1,050 \n1,115 \n1,107 \n1,255 \n1,455 \n1,438 \n1,520 \n1,520 \n1,863 \n2,308 \n2,325 \n2,597 \n2,694 \n2,928 \nMultilateral Creditors \n1,235 \n1,199 \n1,213 \n1,269 \n1,362 \n1,389 \n1,457 \n1,504 \n1,524 \n1,592 \n1,729 \n1,770 \n2,041 \n2,235 \n2,084 \nPrivate Creditors \n291 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n10 \n10 \n0 \n0 \n0 \n0 \n0 \nPublic Enterprises \n543 \n534 \n568 \n616 \n698 \n714 \n709 \n766 \n790 \n825 \n857 \n938 \n1,092 \n1,198 \n1,356 \nBilateral Creditors \n316 \n301 \n315 \n351 \n403 \n442 \n439 \n464 \n474 \n497 \n453 \n238 \n711 \n703 \n858 \nMultilateral Creditors \n224 \n233 \n253 \n265 \n295 \n272 \n270 \n302 \n316 \n327 \n403 \n700 \n382 \n495 \n498 \nPrivate Creditors \n3 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \n0 \nMonetary Authorities \n364 \n292 \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n138 \n127 \n125 \n125 \nMultilateral Creditors - IMF \n364 \n292 \n292 \n279 \n288 \n291 \n144 \n130 \n137 \n140 \n140 \n138 \n127 \n125 \n125 \nPrivate \n162 \n152 \n67 \n56 \n41 \n78 \n57 \n45 \n51 \n35 \n57 \n142 \n366 \n480 \n1,002 \nShort-Term External Debt \n532 \n298 \n167 \n183 \n169 \n144 \n173 \n281 \n387 \n226 \n1,198 \n1,382 \n1,289 \n890 \n1,564 \nSupplier's Credits \n150 \n42 \n13 \n26 \n51 \n69 \n107 \n122 \n178 \n41 \n193 \n286 \n134 \n30 \n0 \nReserve Bank \n \n \n \n \n \n \n \n \n \n \n642 \n642 \n618 \n614 \n614 \nPrivate \n382 \n256 \n154 \n157 \n118 \n75 \n66 \n159 \n209 \n185 \n363 \n454 \n537 \n246 \n950 \nTotal External Debt \n4,062 \n3,525 \n3,422 \n3,510 \n3,812 \n4,071 \n3,978 \n4,246 \n4,607 \n4,690 \n6,289 \n6,695 \n7,385 \n7,497 \n8,934 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nGross Domestic Product \n5,990 \n6,107 \n10,887 \n6,715 \n5,037 \n4,299 \n2,918 \n6,645 \n4,000 \n3,175 \n6,133 \n7,433 \n8,865 \n8,865 \n12,973 \nExternal Debt / GDP \n68% \n57.7% 31.4% 52.3% 75.7% 94.7% 136.3% \n63.9% \n110.5% 147.7% 102.5% \n90.1% \n83.3% 84.6% 68.9% \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nSOURCE: Ministry of \nFinance and Reserve Bank \nof Zimbabwe \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n18 \nTABLE 4.1 LENDING RATES (percent per annum)1 \n \nCommercial Banks \nMerchant Banks \n \n \nWeighted Average Lending \nRates3 \n \nWeighted Average Lending \nRates3 \nEnd Period \nNominal \nLending \nRates2 \nIndividuals \nCorporate \nNominal \nLending \nRates2 \nIndividuals \nCorporate \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \nApr \n3.00-35.00 \n14.58 \n9.66 \n14.00-25.00 \n17.77 \n14.35 \nMay \n9.00-35.00 \n14.25 \n9.89 \n13.00-23.00 \n17.66 \n17.02 \nJun \n9.00-35.00 \n14.29 \n9.46 \n15.00-22.50 \n17.78 \n16.89 \nJul \n6.00-35.00 \n14.39 \n9.65 \n15.00-28.00 \n17.70 \n16.97 \nAug \n6.00-35.00 \n13.82 \n9.32 \n15.00-23.00 \n18.32 \n16.92 \nSep \n6.00-35.00 \n14.03 \n9.37 \n15.00-22.50 \n18.31 \n16.94 \nOct \n6.00-35.00 \n13.95 \n9.25 \n15.00-23.00 \n18.67 \n17.66 \nNov \n6.00-35.00 \n14.18 \n9.40 \n15.00-23.00 \n18.84 \n17.72 \nDec \n6.00-35.00 \n14.13 \n9.35 \n15.00-23.00 \n18.84 \n17.76 \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \nJan \n6.00-35.00 \n14.09 \n9.30 \n15.00-23.00 \n18.88 \n17.74 \nFeb \n6.00-35.00 \n14.08 \n9.32 \n15.00-23.00 \n18.88 \n17.73 \nMar \n6.00-35.00 \n14.24 \n9.27 \n15.00-23.00 \n18.88 \n17.73 \nApr \n6.00-35.00 \n14.22 \n9.12 \n15.00-23.00 \n18.88 \n17.73 \nMay \n6.00-35.00 \n14.39 \n9.25 \n15.00-23.00 \n18.87 \n17.74 \nJune \n6.00-35.00 \n14.44 \n9.33 \n15.00-23.00 \n19.00 \n18.00 \nJuly \n6.00-35.00 \n14.33 \n9.45 \n15.00-23.00 \n19.00 \n18.00 \nAugust \n6.00-35.00 \n14.28 \n9.45 \n15.00-23.00 \n19.00 \n18.00 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nNotes \n \n \n \n \n \n \n1. Table revised, to separate weighted lending rates for individuals and corporate bodies. \n2. Nominal Lending Rates depict the range of rates quoted by banks. \n3. Lending rates exclude rates on staff loans. \n \n \n19 \nTABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)1 \n \n \n \n \n \n \n \n \n \nCOMMERCIAL BANKS \nACCEPTING HOUSES \n \n \n \n \n \n \n \n \nEND OF \nSAVINGS \n3 MONTHS \n3 MONTHS \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \nJANUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nFEBRUARY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nMARCH \n0.15-8.00 \n4.00-20.00 \n8.00-12.00 \nAPRIL \n0.15-8.00 \n4.00-20.00 \n8.00-12.00 \nMAY \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nJUNE \n0.15-8.00 \n4.00-20.00 \n6.00-17.00 \nJULY \n0.15-8.00 \n3.00-20.00 \n6.00-17.00 \nAUGUST \n0.15-8.00 \n3.00-20.00 \n6.00-17.00 \nSEPTEMBER \n0.15-8.00 \n3.00-20.00 \n11.00-12.00 \nOCTOBER \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nNOVEMBER \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nDECEMBER \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \n \n \n \n \n2014 \n \n \n \nJANUARY \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nFEBRUARY \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nMARCH \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nAPRIL \n0.15--8.00 \n3.00-20.00 \n11.00-12.00 \nMAY \n0.15-8.00 \n3.00-20.00 \n11.00-12.00 \nJUNE \n0.15-8.00 \n3.00-20.00 \n11.00-12.00 \nJULY \n0.15-8.00 \n3.00-20.00 \n11.00-12.00 \nAUGUST \n0.15-8.00 \n4.00-20.00 \n11.00-12.00 \n \n \n \n \n \n \n \n \n1. \nThe range of rates quoted by banks during the period. \n2. \nThree (3) months deposit rates revised to exclude rates on inactive or dormant \naccounts. \n \n \n \nNON-FOOD INFLATION \nFOOD \nINFLA-\nTION \nALL \n \nALCO-\nHOLIC \nBEVER-\nAGES \nCLOTH-\nING \nHSING, \nWATER, \nFURNITURE HEALTH \nTRANSPOR\nT \nCOMMUNI-\nCATION \nRECREATION \n& \nEDUCA-\nTION \nRESTAU-\nRANTS & \nMISC. \nTOTAL \nNON \nFOOD & \nITEMS \n \n& TO-\nBACCO \nFOOT-\nWEAR \nELEC-\nTRICTY, \nGAS \nAND \n \n \n \nCULTURE \n \nHOTELS \nGOODS & \nFOOD \nNON \nALCO-\nHOLIC \nBEVER-\nAGES \n \n \n \n \n& OTHER \nEQUIPMENT \n \n \n \n \n \nSERVICES \n \n \n \n \n \nFUELS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nWEIGHTS \n4.38 \n6.05 \n17.74 \n9.91 \n2.16 \n9.76 \n3.41 \n2.1 \n5.67 \n1.38 \n3.91 \n66.47 \n33.53 \n100 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOCTOBER \n1.21 \n0.00 \n-0.01 \n-0.36 \n0.06 \n-0.32 \n-0.07 \n-0.15 \n0.02 \n-0.08 \n-0.20 \n-0.04 \n0.04 \n-0.01 \nNOVEMBER \n0.38 \n-0.19 \n-0.01 \n-0.37 \n0.10 \n-0.13 \n-0.01 \n-0.13 \n5.57 \n1.08 \n-0.27 \n0.43 \n-0.60 \n0.09 \nDECEMBER \n0.14 \n-0.01 \n0.37 \n-0.29 \n0.12 \n0.27 \n0.05 \n-0.22 \n0.00 \n0.00 \n-0.46 \n0.08 \n-0.41 \n-0.08 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n0.20 \n-0.07 \n0.00 \n0.01 \n-0.23 \n0.01 \n0.00 \n-0.07 \n0.02 \n0.16 \n-0.09 \n0.00 \n0.44 \n0.14 \nFEBRUARY \n-0.01 \n-0.09 \n-0.11 \n-0.08 \n0.09 \n0.08 \n0.00 \n-0.04 \n0.23 \n-0.08 \n0.07 \n-0.01 \n0.18 \n0.05 \nMARCH \n-0.05 \n-0.06 \n-0.82 \n-0.12 \n0.02 \n0.00 \n0.01 \n0.00 \n0.00 \n0.01 \n-0.30 \n-0.26 \n-0.14 \n-0.22 \nAPRIL \n0.30 \n-0.10 \n-0.13 \n-0.75 \n0.16 \n0.33 \n-0.02 \n0.34 \n12.64 \n-1.02 \n-0.03 \n1.09 \n-0.46 \n0.58 \nMAY \n0.11 \n-0.11 \n-0.06 \n-0.29 \n0.00 \n0.23 \n-0.03 \n-0.20 \n0.07 \n-0.13 \n-0.43 \n-0.05 \n-0.30 \n-0.13 \nJUNE \n-0.05 \n0.12 \n0.00 \n0.06 \n0.30 \n-0.03 \n0.00 \n-0.09 \n0.00 \n-0.11 \n0.15 \n0.02 \n-0.12 \n-0.03 \nJULY \n-0.47 \n-0.21 \n0.12 \n0.30 \n-0.01 \n0.11 \n-0.12 \n-0.13 \n-0.08 \n1.79 \n0.85 \n-0.37 \n0.25 \n0.01 \nAUGUST \n-0.81 \n-0.05 \n-0.09 \n0.00 \n-0.14 \n0.04 \n0.28 \n-0.06 \n-0.08 \n-0.02 \n0.02 \n-1.21 \n-0.07 \n-0.31 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nTABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1 \n( DECEMBER 2012 = 100) \n20 \n21 \n \nNON-FOOD INFLATION \nFOOD \nINFLATION \nALL \n \nALCOHOL-\nIC BEVER-\nAGES \nCLOTHING \nHSING, \nWATER, \nFURNI-\nTURE \nHEALTH \nTRANSPORT \nCOMMU-\nNICATION \nRECREA-\nTION & \nEDUCA-\nTION \nRESTAU-\nRANTS & \nMISC. \nTOTAL \nNON \nFOOD & \nITEMS \n \n& TOBAC-\nCO \nFOOTWEAR \nELEC-\nTRICTY, GAS \nAND \n \n \n \nCULTURE \nHOTELS \nGOODS & \nFOOD \nNON ALCO-\nHOLIC \nBEVERAG-\n \n \n \n \n& OTHER \nEQUIP-\nMENT \n \n \n \n \n \n \nSERVICES \n \n \n \n \n \nFUELS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nWEIGHTS \n4.38 \n6.05 \n17.74 \n9.91 \n2.16 \n9.76 \n3.41 \n2.1 \n5.67 \n1.38 \n3.91 \n66.47 \n33.53 \n100 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nSEPTEMBER \n4.36 \n0.61 \n3.70 \n-0.37 \n2.10 \n5.06 \n-13.66 \n-1.01 \n5.74 \n1.23 \n0.93 \n1.45 \n-0.32 \n0.86 \nOCTOBER \n5.23 \n0.25 \n2.96 \n-0.70 \n2.21 \n1.40 \n-13.76 \n-0.73 \n9.05 \n0.83 \n-0.20 \n1.25 \n-0.74 \n0.59 \nNOVEMBER \n5.94 \n-0.07 \n3.51 \n-1.03 \n2.42 \n-7.04 \n-13.83 \n-0.92 \n11.19 \n2.06 \n-0.35 \n1.58 \n-1.51 \n0.54 \nDECEMBER \n4.26 \n0.09 \n3.63 \n-1.08 \n2.11 \n1.61 \n-13.99 \n-1.03 \n11.29 \n2.03 \n-0.87 \n1.61 \n-2.20 \n0.33 \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n5.03 \n0.03 \n3.63 \n-1.07 \n1.87 \n1.62 \n-14.00 \n-1.12 \n11.30 \n2.18 \n-0.43 \n1.67 \n-2.08 \n0.41 \nFEBRUARY \n2.21 \n-0.43 \n3.09 \n-1.35 \n0.44 \n0.05 \n-13.86 \n-1.08 \n11.47 \n1.32 \n-1.45 \n0.93 \n-3.26 \n-0.49 \nMARCH \n1.67 \n-0.53 \n2.21 \n-1.82 \n0.40 \n-0.44 \n-13.68 \n-1.21 \n11.47 \n2.47 \n-1.82 \n0.51 \n-3.71 \n-0.91 \nAPRIL \n1.78 \n-0.55 \n0.46 \n-2.60 \n0.22 \n-0.11 \n-0.62 \n-0.93 \n20.71 \n1.13 \n-1.56 \n1.50 \n-3.73 \n-0.26 \nMAY \n1.91 \n-0.83 \n0.39 \n-2.62 \n0.29 \n0.86 \n-0.60 \n-0.64 \n20.79 \n0.95 \n-1.69 \n1.62 \n-3.75 \n-0.19 \nJUNE \n1.68 \n-0.81 \n0.40 \n-2.54 \n0.64 \n0.97 \n-0.27 \n-0.84 \n20.79 \n0.99 \n-1.67 \n1.67 \n-3.54 \n-0.08 \nJULY \n-2.88 \n1.64 \n-0.68 \n0.7 \n-2.4 \n0.8 \n0.5 \n-0.4 \n-0.8 \n23.0 \n1.8 \n-2.0 \n1.9 \n0.3 \nAUGUST \n-2.79 \n2.02 \n-0.44 \n-0.1 \n-2.5 \n0.6 \n0.7 \n-0.3 \n-0.8 \n21.4 \n0.9 \n-2.8 \n1.6 \n0.2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nTABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \\1 \n(DECEMBER 2012 = 100) \n22 \n TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES \n \n \n \n \n \n \n \n \n \n \n \n \n \nSA \nBW \nJAPANESE \nEUROPEAN \nPOUND \nEND OF \nRAND/1 \nPULA/1 \nYEN/1 \nCURRENCY/2 \nSTERLING/2 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n9.03 \n8.05 \n90.90 \n1.36 \n1.58 \nFEBRUARY \n8.84 \n8.04 \n92.36 \n1.31 \n1.52 \nMARCH \n9.26 \n8.30 \n94.13 \n1.28 \n1.51 \nAPRIL \n8.98 \n8.10 \n97.76 \n1.31 \n1.55 \nMAY \n10.08 \n8.65 \n100.85 \n1.30 \n1.52 \nJUNE \n9.94 \n8.60 \n98.74 \n1.31 \n1.53 \nJULY \n9.83 \n8.49 \n98.31 \n1.33 \n1.53 \nAUGUST \n10.33 \n8.75 \n98.18 \n1.32 \n1.55 \nSEPTEMBER \n10.10 \n8.58 \n97.92 \n1.35 \n1.62 \nOCTOBER \n9.95 \n8.50 \n98.28 \n1.37 \n1.60 \nNOVEMBER \n10.19 \n8.64 \n102.33 \n1.36 \n1.64 \nDECEMBER \n10.43 \n8.72 \n105.02 \n1.38 \n1.65 \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \nJANUARY \n11.21 \n9.09 \n102.47 \n1.35 \n1.65 \nFEBRUARY \n10.71 \n8.85 \n101.74 \n1.37 \n1.67 \nMARCH \n10.56 \n8.85 \n102.38 \n1.38 \n1.68 \nAPRIL \n10.57 \n8.85 \n102.38 \n1.38 \n1.68 \nMAY \n10.44 \n8.73 \n101.61 \n1.36 \n1.67 \nJUNE \n10.58 \n8.67 \n101.30 \n1.36 \n1.70 \nJULY \n10.68 \n8.85 \n102.76 \n1.36 \n1.69 \nAUGUST \n10.98 \n9.07 \n107.35 \n1.29 \n1.63 \n \n \n \n \n \n \n \n \n \n \n \n \n1. Foreign currency per US Dollar. \n \n \n \n \n2. US Dollar per unit of foreign currency. \n \n \n \n \n23 \nTABLE 7.1: COMMERCIAL BANKS - ASSETS \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \nSecurities \n \n \nLoans & Contingent \nOther \nNon \nFinan-\ncial \nTotal \nEnd of \nNotes \n \n \n \n \n \n \nTotal \nOther Balances Advances \nAssets \nAssets \nAssets \nAssets \n \n& \nBalances \nBalances \nBalances \n \n \n \n Liquid \nwith RBZ \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury Agric PEs \n Assets \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n May \n250.9 \n400.9 \n198.2 \n296.7 \n253.5 \n75.4 \n5.3 \n1,480.8 \n25.8 \n2,673.2 \n389.8 \n208.0 \n382.9 \n5,160.5 \nJun \n227.2 \n416.4 \n171.9 \n257.5 \n271.8 \n75.5 \n5.3 \n1,425.8 \n26.0 \n2,698.3 \n364.1 \n217.8 \n384.6 \n5,116.5 \nJul \n266.5 \n352.8 \n164.2 \n266.1 \n263.8 \n110.2 \n6.4 \n1,429.9 \n26.5 \n2,701.3 \n337.1 \n229.8 \n387.0 \n5,111.7 \n Aug. \n322.8 \n277.9 \n136.4 \n242.5 \n237.8 \n61.1 \n6.4 \n1,285.0 \n26.2 \n2,813.0 \n367.0 \n218.3 \n385.2 \n5,094.7 \n Sep \n334.1 \n336.0 \n178.0 \n327.8 \n226.3 \n111.5 \n6.0 \n1,519.7 \n26.9 \n2773.3 \n298.8 \n234.7 \n386.4 \n5,239.8 \nOct \n379.4 \n387.5 \n137.1 \n219.7 \n260.9 \n99.4 \n5.0 \n1,489.0 \n17.3 \n2,809.1 \n316.7 \n257.3 \n371.5 \n5,260.9 \nNov \n333.3 \n312.7 \n160.2 \n197.1 \n261.1 \n108.6 \n6.5 \n1,379.5 \n26.6 \n2,789.7 \n291.3 \n235.4 \n369.8 \n5,092.3 \nDec \n 354.8 \n367.8 \n135.5 \n 287.3 \n199.9 \n118.0 \n6.6 \n1,469.9 \n28.4 \n2,799.5 \n490.8 \n259.5 \n347.6 \n5,395.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jan \n356.9 \n395.3 \n134.1 \n253.1 \n153.0 \n119.2 \n5.4 \n1,417.0 \n27.9 \n2,866.4 \n516.1 \n362.2 \n353.9 \n5,543.5 \nFeb \n334.3 \n387.0 \n130.5 \n285.0 \n195.0 \n193.2 \n5.4 \n1,530.0 \n32.8 \n2,718.1 \n534.5 \n502.9 \n351.1 \n5,669.5 \nMar \n304.6 \n354.1 \n147.4 \n280.3 \n165.9 \n255.2 \n5.4 \n1,512.9 \n28.7 \n2,737.9 \n522.7 \n538.8 \n349.7 \n5,690.7 \n Apr \n353.3 \n367.8 \n154.4 \n274.9 \n205.7 \n247.0 \n5.4 \n1,608.4 \n32.5 \n2,844.6 \n534.1 \n345.3 \n348.6 \n5,713.6 \n May \n327.8 \n421.1 \n120.5 \n372.8 \n211.5 \n241.7 \n5.4 \n1,700.6 \n27.5 \n2,836.8 \n591.4 \n366.2 \n347.1 \n5,869.6 \nJun \n347.1 \n404.7 \n166.4 \n338.1 \n198.0 \n261.9 \n0.0 \n1,716.1 \n16.2 \n2,863.2 \n607.8 \n362.9 \n346.1 \n5,912.6 \nJul \n347.1 \n321.3 \n176.7 \n276.3 \n186.0 \n246.2 \n0.0 \n1,553.7 \n15.4 \n2,940.4 \n597.5 \n347.4 \n345.6 \n5,800.0 \nAug \n360.7 \n424.5 \n178.5 \n243.5 \n173.9 \n237.5 \n0.0 \n1,618.6 \n15.5 \n2,949.1 \n609.5 \n353.9 \n346.4 \n5,892.9 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n24 \nTABLE 7.2: COMMERCIAL BANKS - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nOf which \n \n \n \n \n \n \n \n \nand \nLiabilities Liabilities Liabilities Liabilities \nto the \nEnd of \nDemand \nSavings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther Banks Reserves \n \n \n \nPublic \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \nMay \n2,066.0 \n913.0 \n479.9 \n3,459.0 \n346.5 \n0.0 \n81.8 \n674.4 \n389.8 \n209.0 \n5,160.4 \n3,459.0 \nJun \n2,013.9 \n919.6 \n298.9 \n3,232.4 \n553.0 \n0.0 \n74.1 \n702.3 \n364.1 \n190.6 \n5,116.5 \n3,232.4 \nJul \n2,054.1 \n916.2 \n245.9 \n3,216.2 \n578.3 \n0.0 \n77.5 \n699.7 \n337.1 \n202.9 \n 5,111.7 \n3,216.2 \nAug \n2,017.4 \n879.5 \n253.2 \n3,150.1 \n608.2 \n0.0 \n63.8 \n694.9 \n367.0 \n210.8 \n5,094.7 \n3,150.1 \nSep \n2,082.1 \n899.3 \n294.5 \n3,275.8 \n674.6 \n0.0 \n 74.0 \n708.8 \n298.8 \n207.7 \n5,239.8 \n3,275.8 \nOct \n2,125.9 \n880.0 \n349.3 \n3,355.2 \n611.4 \n0.0 \n68.5 \n703.0 \n316.7 \n206.0 \n5,260.9 \n3,355.2 \nNov \n1,953.4 \n861.2 \n 371.6 \n3,186.2 \n627.8 \n0.0 \n75.8 \n689.7 \n291.3 \n221.6 \n5,092.3 \n3,186.2 \nDec \n 1,980.4 \n813.6 \n 517.1 \n3,311.1 \n614.0 \n0.0 \n65.0 \n730.9 \n490.8 \n 184.0 \n 5,395.7 \n3,311.1 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n2,153.6 \n802.7 \n403.5 \n3,359.8 \n661.3 \n0.0 \n55.9 \n592.9 \n516.1 \n357.5 \n5,543.5 \n3,359.8 \nFeb \n2,111.8 \n878.8 \n494.6 \n3,485.2 \n630.0 \n0.0 \n51.1 \n609.5 \n534.5 \n359.0 \n5,669.5 \n3,485.2 \nMar \n2,156.8 \n919.6 \n454.2 \n3,530.6 \n635.5 \n0.0 \n44.8 \n596.4 \n522.7 \n360.7 \n5,690.7 \n3,530.6 \n Apr \n2,267.5 \n958.3 \n435.7 \n3,661.5 \n553.5 \n0.0 \n17.0 \n595.0 \n534.1 \n352.4 \n5,713.6 \n3,661.5 \n May \n2,294.9 \n975.8 \n451.7 \n3,722.4 \n585.0 \n0.0 \n13.7 \n591.1 \n591.4 \n366.1 \n5,869.6 \n3,722.4 \nJun \n2,248.9 \n989.8 \n506.1 \n3,744.8 \n543.8 \n0.0 \n48.3 \n591.2 \n607.8 \n376.7 \n5,912.6 \n3,744.8 \nJul \n2,130.4 \n892.9 \n606.6 \n3,629.9 \n560.8 \n0.0 \n39.5 \n571.5 \n597.5 \n400.6 \n5,800.0 \n3,629.9 \nAug \n2202.3 \n963.1 \n539.9 \n3705.3 \n552.7 \n0.0 \n43.5 \n580.7 \n609.5 \n401.2 \n5892.9 \n3,705.3 \n \n \n \n \n \n \n \n \n \n \n \n \n \n25 \nTABLE 8.1 : ACCEPTING HOUSES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLoans & Contingent \nOther \nNon Financial \nTotal \n \nEnd of \nNotes \n \n \n \n \n \nTotal \nOther \nBalances Advances \nAssets \nAssets \nAssets \nAssets \n \n \n& \nBalances Balances Balances \n \n \nLiquid \nwith RBZ \n \n \n \n \n \n \n \nCoin \nwith \nwith Other \nat \nTrade \nTreasury \n Assets \n \n \n \n \n \n \n \n \nat Banks \nRBZ \nBanks \nForeign \nBanks \nBills \nBills \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nAug \n1.4 \n1.7 \n0.4 \n0.6 \n3.4 \n0.0 \n7.4 \n0.0 \n265.6 \n34.5 \n45.5 \n37.3 \n390.3 \n \nSep \n1.2 \n0.8 \n0.0 \n0.3 \n3.4 \n0.0 \n5.7 \n0.0 \n233.7 \n35.8 \n46.6 \n38.6 \n360.4 \n \nOct \n0.9 \n0.5 \n0.4 \n0.6 \n2.5 \n0.0 \n4.8 \n0.0 \n234.8 \n35.6 \n41.3 \n38.7 \n355.2 \n \nNov \n0.4 \n0.6 \n0.1 \n0.2 \n2.5 \n0.0 \n3.9 \n0.0 \n231.9 \n35.5 \n39.6 \n38.3 \n349.2 \n \nDec \n1.1 \n0.5 \n0.1 \n0.4 \n2.5 \n0.0 \n4.6 \n0.0 \n232.7 \n35.5 \n29.2 \n40.5 \n342.5 \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n0.1 \n0.5 \n0.0 \n0.2 \n1.8 \n0.0 \n2.6 \n0.0 \n81.3 \n10.0 \n23.5 \n34.7 \n152.1 \n \nFeb \n0.2 \n0.4 \n0.1 \n0.1 \n1.8 \n0.0 \n2.5 \n0.0 \n77.6 \n9.0 \n24.1 \n34.6 \n147.9 \n \nMar \n0.1 \n0.1 \n0.1 \n0.1 \n1.6 \n0.0 \n2.0 \n0.0 \n53.2 \n8.7 \n21.8 \n32.5 \n118.1 \n \nApr \n0.1 \n0.4 \n0.2 \n0.3 \n1.6 \n0.0 \n2.6 \n0.0 \n75.2 \n8.5 \n22.2 \n32.4 \n140.9 \n \nMay \n0.2 \n0.4 \n0.0 \n0.1 \n0.3 \n0.0 \n0.9 \n0.0 \n68.7 \n0.1 \n14.6 \n30.3 \n114.6 \n \nJun \n0.2 \n0.2 \n0.1 \n0.1 \n0.6 \n0.0 \n1.2 \n0.0 \n66.8 \n0.1 \n14.7 \n29.6 \n112.4 \n \nJul \n0.2 \n0.3 \n0.0 \n0.1 \n0.3 \n0 \n0.9 \n0.0 \n66.9 \n0.1 \n12.9 \n28.7 \n109.6 \n \nAug \n0.2 \n0.7 \n0.0 \n0.1 \n0.3 \n0.0 \n1.3 \n0.0 \n64.4 \n0.0 \n19.4 \n23.9 \n109.0 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n26 \nTABLE 8.2 : ACCEPTING HOUSES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \n \nDeposits \n \n \n \nAmounts Owing to \nCapital \nContingent \nOther \nTotal \nLiabilities to the \n \n \n \n \n \n \n \n \nand \nLiabilities \nLiabilities \nLiabilities \nPublic \nEnd of Demand Savings and \nShort-term \nLong-term \nTotal \nForeign \nLiabilities \nRBZ \nOther \nBanks \nReserves \n \n \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \nAug \n109.5 \n80.6 \n 25.2 \n215.2 \n47.5 \n0.0 \n1.2 \n-101.7 \n34.5 \n 193.6 \n390.3 \n 215.2 \nSep \n111.2 \n82.6 \n19.0 \n212.8 \n47.9 \n0.0 \n1.2 \n-114.9 \n35.8 \n177.8 \n360.4 \n212.8 \nOct \n112.5 \n80.4 \n14.9 \n207.8 \n48.3 \n0.0 \n1.2 \n-114.3 \n35.6 \n176.7 \n355.2 \n207.8 \nNov \n122.6 \n59.7 \n20.0 \n202.3 \n48.2 \n0.0 \n1.2 \n-118.2 \n35.5 \n180.2 \n349.2 \n202.3 \nDec \n134.5 \n56.4 \n6.9 \n 197.8 \n48.9 \n0.0 \n1.2 \n-127.6 \n35.5 \n186.7 \n342.5 \n 197.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \nJan \n36.8 \n57.7 \n5.7 \n100.1 \n11.7 \n0.0 \n0.0 \n0.7 \n10.0 \n29.6 \n152.1 \n100.1 \nFeb \n47.6 \n48.3 \n0.0 \n95.8 \n11.7 \n0.0 \n0.0 \n-10.9 \n9.0 \n42.3 \n147.9 \n95.8 \nMar \n41.0 \n55.8 \n0.0 \n96.9 \n12.0 \n0.0 \n0.0 \n-17.7 \n8.7 \n18.4 \n118.1 \n96.9 \nApr \n57.4 \n40.3 \n0.0 \n97.7 \n12.2 \n0.0 \n0.0 \n-19.8 \n8.5 \n42.4 \n140.9 \n97.7 \nMay \n42.8 \n34.6 \n0.0 \n77.4 \n0.0 \n0.0 \n0.0 \n4.7 \n0.1 \n32.5 \n114.6 \n77.4 \nJun \n42.8 \n33.2 \n0.0 \n76.0 \n0.0 \n0.0 \n0.0 \n2.3 \n0.1 \n33.7 \n112.3 \n76.0 \nJul \n42.6 \n33.8 \n0.0 \n76.3 \n0.0 \n0.0 \n0.0 \n-8.7 \n0.1 \n41.8 \n109.6 \n76.3 \nAug \n36.4 \n40.4 \n0.0 \n76.8 \n0.0 \n0.0 \n0.0 \n-7.8 \n0.0 \n40.0 \n109.0 \n76.8 \n \n \n \n \n \n \n \n \n \n \n \n \n \n27 \nTABLE 9.1 : BUILDING SOCIETIES - ASSETS \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiquid Assets \n \n \n \n \n \n \n \nNotes \nBalances \nTrade \nTreasury \nTotal \nMortgage \nOther \nOther \nNon Finan-\ncial \nTotal \nEnd of \n& \nwith Other \nBills \nBills \nLiquid \nAdvances \nAdvances \nAssets \nAssets \n Assets \n \nCoin \nBanks \n \n \n Assets \n \n \n \n \n \n \nat Banks \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \nJan \n20.4 \n125.5 \n0.2 \n0.0 \n146.1 \n283.2 \n118.5 \n36.1 \n121.4 \n705.3 \nFeb \n20.2 \n164.3 \n0.0 \n0.0 \n84.5 \n291.8 \n117.9 \n35.3 \n121.4 \n734.2 \nMar \n18.8 \n129.1 \n0.2 \n20.0 \n168.1 \n291.4 \n116.9 \n39.5 \n121.4 \n737.3 \nApr \n16.9 \n159.8 \n0.2 \n20.2 \n197.2 \n294.8 \n115.5 \n39.5 \n122.1 \n769.1 \nMay \n30.2 \n179.6 \n0.2 \n20.3 \n230.0 \n307.3 \n120.3 \n40.4 \n121.9 \n820.0 \nJun \n28.6 \n178.8 \n0.0 \n20.0 \n227.3 \n314.2 \n122.4 \n44.6 \n121.8 \n830.3 \nJul \n26.1 \n207.4 \n0.0 \n20.0 \n253.5 \n312.4 \n123.1 \n48.6 \n121.6 \n859.2 \nAug \n34.7 \n204.1 \n0.0 \n20.0 \n258.8 \n320.6 \n123.0 \n46.4 \n124.1 \n872.9 \nSep \n36.4 \n204.9 \n0.0 \n20.0 \n261.3 \n353.4 \n122.7 \n52.2 \n124.6 \n914.2 \nOct \n39.3 \n186.8 \n0.0 \n20.0 \n246.1 \n358.4 \n128.2 \n51.8 \n122.4 \n906.9 \nNov \n39.7 \n163.1 \n0.0 \n40.0 \n242.8 \n361.6 \n135.8 \n43.6 \n122.9 \n906.7 \nDec \n34.8 \n158.8 \n0.0 \n40.0 \n233.6 \n381.5 \n127.7 \n55.2 \n123.0 \n920.9 \n \n \n \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \nJan \n30.9 \n147.5 \n0.2 \n40.0 \n218.6 \n384.5 \n136.4 \n64.4 \n125.3 \n929.1 \nFeb \n30.2 \n165.0 \n0.2 \n40.0 \n235.3 \n385.8 \n132.0 \n65.4 \n125.4 \n943.9 \nMar \n47.5 \n166.2 \n0.2 \n40.0 \n253.8 \n390.4 \n132.1 \n68.8 \n125.0 \n970.1 \nApr \n45.2 \n161.0 \n0.2 \n40.0 \n246.5 \n401.8 \n132.4 \n76.6 \n124.7 \n981.9 \nMay \n47.7 \n190.7 \n0.2 \n40.0 \n278.6 \n394.0 \n147.0 \n82.7 \n124.3 \n1,026.7 \nJun \n39.5 \n187.9 \n0.0 \n40.0 \n267.4 \n400.0 \n150.4 \n84.0 \n124.4 \n1,026.1 \nJul \n40.6 \n180.9 \n0.0 \n40.0 \n261.5 \n431.8 \n159.4 \n84.1 \n124.4 \n1,061.2 \nAug \n17.8 \n219.8 \n0.0 \n51.4 \n289.1 \n442.4 \n166.5 \n86.4 \n124.2 \n1,108.6 \n \n \n \n \n \n \n \n \n \n \n \n28 \nTABLE 9.2 : BUILDING SOCIETIES - LIABILITIES \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nOf which \n \nDeposits \nCapital \nOther \nTotal \nLiabilities to the \n \n \n \n \nand \nLiabilities \n Liabilities \nPublic \nEnd of \nSavings and \nShort-term \nLong-term \nTotal \nReserves \n \n \n \n \n \n \n Deposits \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2012 \n \n \n \n \n \n \n \n Jun \n260.1 \n109.7 \n369.7 \n141.8 \n82.7 \n594.3 \n369.7 \n Jul \n233.2 \n156.1 \n389.3 \n145.7 \n79.3 \n614.3 \n389.3 \n Aug \n231.0 \n170.1 \n401.2 \n150.0 \n79..8 \n630.9 \n401.2 \n Sep \n247.3 \n172.8 \n420.0 \n153.1 \n80.0 \n653.0 \n420.0 \n Oct \n263.2 \n165.4 \n428.6 \n159.8 \n27.5 \n675.1 \n428.6 \n Nov \n246.8 \n179.5 \n426.3 \n165.5 \n28.2 \n694.3 \n426.3 \n Dec \n255.8 \n184.6 \n440.3 \n177.8 \n28.1 \n716.9 \n440.3 \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n Jan \n230.0 \n192.8 \n422.8 \n180.3 \n102.3 \n705.3 \n422.8 \n Feb \n255.7 \n194.2 \n449.9 \n183.7 \n100.6 \n734.2 \n449.9 \n Mar \n250.6 \n203.9 \n454.5 \n187.2 \n95.7 \n737.3 \n454.5 \n Apr \n252.9 \n226.6 \n479.5 \n190.6 \n22.3 \n769.3 \n479.5 \n May \n315.3 \n212.0 \n527.4 \n193.3 \n23.4 \n820.0 \n527.4 \n Jun \n309.0 \n222.6 \n531.6 \n198.3 \n100.4 \n830.3 \n531.6 \n Jul \n339.1 \n222.8 \n561.9 \n202.0 \n95.3 \n859.2 \n561.9 \n Aug \n298.4 \n270.1 \n568.4 \n206.3 \n98.2 \n872.9 \n568.4 \n Sep \n336.1 \n246.9 \n583.0 \n209.2 \n122.0 \n914.2 \n583.0 \n Oct \n310.9 \n264.9 \n575.8 \n212.0 \n119.4 \n907.2 \n575.8 \n Nov \n328.9 \n244.3 \n573.1 \n214.8 \n118.8 \n906.7 \n573.1 \n Dec \n370.3 \n197.3 \n567.6 \n219.6 \n133.9 \n921.0 \n567.6 \n \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \nJan \n313.9 \n253.1 \n567.0 \n225.9 \n136.2 \n929.1 \n567.0 \nFeb \n318.7 \n264.4 \n583.1 \n228.6 \n132.2 \n943.9 \n583.1 \nMar \n374.6 \n234.6 \n609.2 \n231.4 \n129.5 \n970.1 \n609.2 \nApr \n358.4 \n262.7 \n621.1 \n234.0 \n126.8 \n981.9 \n621.1 \nMay \n436.2 \n233.2 \n669.4 \n238.0 \n119.1 \n1,026.7 \n669.4 \nJun \n440.1 \n212.2 \n652.3 \n243.1 \n130.9 \n1,026.3 \n652.3 \nJuly \n362.4 \n302.9 \n665.3 \n244.2 \n151.9 \n1,061.3 \n665.3 \nAug \n358.8 \n336.8 \n695.5 \n250.6 \n162..6 \n1,108.7 \n695.5 \n \n \n \n \n \n \n \n \n29 \nTable 10: ZIMBABWE STOCK MARKET STATISTICS \n \n \n \n \n \nIndices \nUS$ Millions \n \nIndustrial \nMining \nMarket Capitalisation \n \n \n \n \n2013 \n \n \n \n \n \n \n \nJan \n179.34 \n84.07 \n4,700.33 \nFeb \n182.3 \n72.01 \n4,748.24 \nMar \n183.88 \n66.21 \n4,726.34 \nApr \n189.66 \n71.98 \n4,894.68 \nMay \n212.72 \n73.99 \n5,471.22 \nJun \n211.19 \n73.29 \n5,436.57 \nJul \n232.87 \n66.77 \n5,9136.78 \nAug \n181.67 \n48.73 \n4,682.27 \nSep \n200.05 \n49.90 \n5,157.20 \nOct \n209.74 \n52.68 \n5,407.42 \nNov \n213.04 \n47.02 \n5,482.03 \nDec \n202.12 \n45.79 \n5,203.13 \n \n \n \n \n2014 \n \n \n \n \n \n \n \nJan \n189.25 \n35.40 \n4,882.11 \nFeb \n189.45 \n39.24 \n4,906.94 \nMar \n176.32 \n29.51 \n4,560.29 \nApr \n172.91 \n29.64 \n4,473.51 \nMay \n174.89 \n35.45 \n4,485.11 \nJun \n186.57 \n61.32 \n4,873.40 \nJuly \n188.07 \n95.00 \n4,959.21 \nAug \n196.43 \n104.8 \n5,186.63 \n \n \n \n \n \n \n \n \nSource: Zimbabwe Stock Exchange (ZSE) \n \n30 \nTABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial \nMerchant \n \nBuilding \n \nEnd of \nBanks \nBanks \nOther/2 \nSocieties \nTOTAL \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,418.5 \n113.0 \n64.3 \n422.8 \n2,018.6 \nFebruary \n1,424.8 \n121.7 \n64.7 \n449.9 \n2,061.1 \nMarch \n1,427.3 \n115.2 \n66.7 \n454.5 \n2,063.6 \nApril \n1,425.8 \n121.0 \n63.9 \n479.5 \n2,090.1 \nMay \n1,393.0 \n121.5 \n66.2 \n527.4 \n2,108.0 \nJune \n1,218.4 \n108.6 \n70.6 \n531.6 \n1,929.2 \nJuly \n1,162.1 \n109.7 \n70.8 \n561.9 \n1,904.5 \nAugust \n1,132.7 \n105.8 \n70.4 \n568.4 \n1,877.2 \nSeptember \n1,193.8 \n101.6 \n69.8 \n583.0 \n1,948.2 \nOctober \n1,229.3 \n95.2 \n69.3 \n575.8 \n1,969.7 \nNovember \n1,232.8 \n79.7 \n73.4 \n573.1 \n1,959.0 \nDecember \n1,330.7 \n63.3 \n72.7 \n567.6 \n2,034.3 \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,206.2 \n63.3 \n70.1 \n567.0 \n1,906.7 \nFebruary \n1,373.4 \n48.3 \n71.5 \n583.1 \n2,076.3 \nMarch \n1,373.8 \n55.8 \n75.1 \n609.2 \n2,113.9 \nApril \n1,394.0 \n40.3 \n81.0 \n621.1 \n2,136.4 \nMay \n1,427.5 \n34.6 \n77.5 \n669.4 \n2,209.0 \nJune \n1,495.8 \n33.2 \n81.3 \n652.3 \n2,262.6 \nJuly \n1,499.5 \n33.8 \n84.2 \n665.3 \n2,282.80 \nAug \n1,502.9 \n40.4 \n84.0 \n695.5 \n2,322.9 \n \n \n \n \n \n \n \n \n \n \n \n \n1/ Comprises all deposits other than demand deposits. \n2/ Includes People’s Own Savings Bank (POSB). \n \n \n31 \nTABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS \n \n \n \n \n \n \n \nUS$ Millions \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nCommercial Banks \nAccepting Houses \n \n \n \n \n \n \n \n \nLiquid \nPrescribed \nExcess \nLiquid \nPrescribed \nExcess \n \nassets \nliquid \nliquid \nassets \nliquid \nLiquid \nEnd of \nheld \nassets/1 \nassets \nheld \nassets/1 \nassets \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,235.5 \n1,035.2 \n200.3 \n36.2 \n66.0 \n-29.8 \nFebruary \n1,244.9 \n1,025.4 \n219.5 \n26.9 \n67.3 \n-40.4 \nMarch \n1,277.6 \n1,016.2 \n261.4 \n8.9 \n65.8 \n-57.0 \nApril \n1,491.7 \n1,050.1 \n441.6 \n23.4 \n68.5 \n-45.1 \nMay \n1,480.8 \n1,037.7 \n443.1 \n27.3 \n70.1 \n-42.8 \nJune \n1,425.8 \n969.7 \n456.0 \n24.1 \n66.9 \n-42.8 \nJuly \n1,429.9 \n964.9 \n465.1 \n11.6 \n66.3 \n-54.7 \nAugust \n1,285.0 \n945.0 \n340.0 \n7.4 \n64.6 \n-57.2 \nSeptember \n1,519.7 \n982.7 \n536.9 \n5.7 \n63.8 \n-58.1 \nOctober \n1,489.0 \n1,006.6 \n482.5 \n4.8 \n62.3 \n-57.5 \nNovember \n1,379.5 \n955.9 \n423.7 \n3.9 \n60.7 \n-56.8 \nDecember \n1,469.9 \n993.3 \n476.6 \n4.6 \n59.3 \n-54.7 \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \n \n \n \n \n \n \n \nJanuary \n1,417.0 \n1,007.9 \n409.0 \n2.6 \n30.0 \n-27.4 \nFebruary \n1,466.6 \n1,045.6 \n421.0 \n2.5 \n28.7 \n-26.2 \nMarch \n1,512.9 \n1,059.2 \n453.7 \n2.0 \n29.1 \n-27.1 \nApril \n1,608.4 \n1,098.5 \n509.9 \n2.6 \n29.3 \n-26.7 \nMay \n1,700.6 \n1,116.7 \n583.9 \n0.9 \n23.2 \n-22.3 \nJune \n1,716.1 \n1,123.4 \n592.7 \n1.2 \n22.8 \n-21.6 \nJuly \n1,553.7 \n1,089.0 \n464.7 \n0.9 \n22.9 \n-22.0 \nAugust \n1,618.6 \n1,111.6 \n507.0 \n1.3 \n23.0 \n-21.7 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n1/ With effect from May 2012, the prescribed liquid asset ratio was reviewed to 30% of liabilities to the public. \n32 \nTABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY \nValues of Transactions (US$ in millions) \nMONTH \nZETSS \nCHEQUE \nPOS \nATM \nMOBILE \n INTERNET \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \nJan \n3,563.84 \n5.24 \n80.72 \n173.71 \n115.53 \n89.67 \nFeb \n2,968.02 \n5.52 \n103.88 \n156.66 \n118.70 \n80.56 \nMar \n3,339.98 \n15.21 \n134.33 \n178.08 \n118.47 \n102.05 \nApr \n3,535.58 \n16.58 \n140.28 \n187.85 \n160.61 \n123.03 \nMay \n3,915.31 \n15.42 \n129.20 \n203.37 \n211.75 \n152.24 \nJun \n3,544.35 \n13.65 \n117.11 \n181.35 \n146.64 \n121.98 \nJul \n3,955.45 \n12.31 \n132.61 \n205.37 \n164.08 \n139.13 \nAug \n3,351.13 \n10.45 \n138.05 \n203.41 \n189.48 \n128.68 \nSep \n3,409.17 \n13.34 \n120.41 \n190.44 \n173.13 \n142.32 \nOct \n3,641.98 \n13.75 \n121.55 \n206.51 \n201.51 \n156.26 \nNov \n3,134.35 \n11.40 \n102.19 \n229.52 \n222.18 \n57.34 \nDec \n3,438.08 \n4.04 \n130.15 \n265.80 \n268.94 \n68.58 \n \n \n \n \n \n \n \nAnnual Total \n41,797.24 \n136.91 \n1,450.48 \n2,382.07 \n2,091.02 \n1,361.84 \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \nJan \n3,093.01 \n5.24 \n102.26 \n233.10 \n228.25 \n68.31 \nFeb \n2,954.93 \n10.73 \n96.27 \n193.90 \n217.14 \n64.42 \nMar \n3,332.79 \n10.40 \n103.58 \n232.94 \n255.32 \n87.94 \nApr \n3,439.33 \n9.66 \n126.26 \n253.16 \n264.38 \n96.29 \nMay \n3,915.31 \n13.65 \n117.11 \n181.35 \n146.64 \n121.98 \nJune \n3,657.44 \n12.42 \n110.38 \n250.87 \n284.18 \n104.28 \nJuly \n3,955.45 \n11.72 \n125.81 \n267.00 \n312.35 \n101.75 \nAugust \n 3,467.34 \n9.36 \n 135.90 \n 273.39 \n 320.36 \n103.26 \n \n \n \n \n \n \n \n36 \nTABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY \nVolumes of Transactions (in thousands) \nMONTH \nZETSS \nCHEQUE \nPOS \nATM \nMOBILE \n INTERNET \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n2013 \n \n \n \n \n \n \nJan \n181.68 \n21.18 \n761.09 \n691.18 \n6,950.84 \n47.53 \nFeb \n172.41 \n21.95 \n811.83 \n620.06 \n6,835.89 \n30.75 \nMar \n179.44 \n37.01 \n1,377.65 \n743.82 \n7,042.27 \n33.69 \nApr \n182.87 \n37.31 \n954.80 \n760.46 \n9,908.41 \n34.73 \nMay \n215.20 \n37.09 \n954.18 \n793.43 \n12,146.90 \n38.68 \nJun \n185.80 \n34.36 \n968.54 \n731.17 \n9,110.97 \n36.87 \nJul \n205.85 \n35.41 \n1,052.26 \n822.57 \n10,099.72 \n42.74 \nAug \n187.25 \n30.29 \n1,114.86 \n825.75 \n11,551.94 \n41.78 \nSep \n201.22 \n33.17 \n1,003.98 \n799.62 \n8,701.56 \n44.48 \nOct \n212.66 \n35.69 \n1,073.88 \n873.19 \n9,769.81 \n48.59 \nNov \n186.64 \n31.74 \n904.27 \n927.93 \n14,753.35 \n24.04 \nDec \n180.80 \n11.82 \n1,033.73 \n1,042.32 \n12,273.02 \n23.56 \n \n \n \n \n \n \n \nAnnual Total \n2,291.82 \n367.02 \n12,011.07 \n9,631.50 \n119,144.68 \n447.44 \n \n \n \n \n \n \n \n2014 \n \n \n \n \n \n \nJan \n182.48 \n29.41 \n973.79 \n815.89 \n11,141.19 \n24.19 \nFeb \n175.09 \n32.95 \n991.91 \n799.12 \n10,631.60 \n25.10 \nMar \n192.02 \n32.35 \n1,163.76 \n947.64 \n12,859.50 \n30.82 \nApr \n183.63 \n28.12 \n1,184.85 \n974.37 \n13,298.04 \n29.23 \nMay \n215.20 \n37.09 \n954.18 \n793.43 \n12,146.90 \n38.68 \nJun \n193.58 \n32.98 \n1,164.73 \n966.45 \n14,163.56 \n34.25 \nJuly \n199.59 \n34.34 \n1,272.91 \n1038.44 \n15,370.63 \n37.68 \nAugust \n 170.86 \n 27.25 \n 1,300.35 \n 1,122.41 \n 16,268.07 \n 33.84", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/MPC_Statements/August2014.pdf"}

dedup/cb_requests/2e150ab1ee17a05bff8569ea1e3081b2.json

@@ -0,0 +1 @@
+{"url": "https://www.resbank.co.za/en/home/publications/publication-detail-pages/speeches/speeches-by-governors/2024/Barriers-Opportunities-and-Implications-for-Financial-Stability-and-Supervision", "source": "SARB", "fetch_date": "2026-04-27", "date": "2024-06-25", "token_count": 203}

dedup/cb_requests/2e3ca60b24be43f905a5924f8edd1969.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/MPC_Statements/Statement of the Monetary Policy Committee March 2024.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "Statement of the Monetary Policy Committee March 2024.pdf", "subfolder": "SARB\\MPC_Statements", "token_count": 914}

dedup/cb_requests/2e3e15bb8f86aaf542244592479f7ebe.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/MPC_Statements/MPC-statement-July-2015.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "MPC-statement-July-2015.pdf", "subfolder": "SARB\\MPC_Statements", "token_count": 2856}

dedup/cb_requests/2f67dede9332f64a5429bba370b5a224.json

@@ -0,0 +1 @@
+{"url": "file:///SARB/MPC_Statements/October2017.pdf", "source": "SARB", "fetch_date": "2026-05-11", "filename": "October2017.pdf", "subfolder": "SARB\\MPC_Statements", "token_count": 9499}